OOIDA Plans Challenge to Ontario Speed Limiters
A group representing owner-operators said it will challenge the legality of recently passed legislation in Ontario mandating speed limiters on trucks to cap speeds at 65 miles per hour in the Canadian province.
July 9, 2008Democrats May Be Open to Allowing More Oil Exploration, Journal Says
A key Senate Democrat said he would be open to a compromise with Republicans to allow oil exploration in protected lands and in offshore areas where it is now prohibited, the Wall Street Journal reported Wednesday.
July 9, 2008Paccar Plans Stock Buyback, Will Boost DAF Production 5%
Truck maker Paccar Inc. said it will buy back an additional $300 million in stock and begin a 5% production increase at its Dutch unit in September, Bloomberg reported.
July 9, 2008Oil Drops $5 to $136 a Barrel; Declines $9 in Two Trading Days
Oil prices fell more than $5 Tuesday to close near $136 a barrel, as the U.S. dollar continued to strengthen and fears of a supply shortage faded, the Associated Press reported.
July 8, 2008Cummins Boosting Dividend by 40%
Diesel engine maker Cummins Inc. said Tuesday it will boost its quarterly cash dividend by 40%, to 17.5 cents per share, from 12.5 cents per share.
July 8, 2008Diesel Jumps 8.2¢ to Record $4.727 a Gallon
The national average price of retail diesel fuel jumped 8.2 cents to a record $4.727 a gallon, breaking the previous record of $4.723 set six weeks ago, the Department of Energy said Monday.
July 8, 2008Covenant Sets Refinancing Plan With Daimler Truck Financial
Covenant Transportation Group said it completed the first step in refinancing its long-term debt, including a secured revenue equipment financing agreement with Daimler Truck Financial for about $200 million.
July 8, 2008G-8 Leaders Endorse Cutting Greenhouse Gases in Half by 2050
Leaders of the Group of Eight nations endorsed cutting global emissions of greenhouse gases in half by 2050, but stopped short of more short-term targets, the Associated Press reported Tuesday.
July 8, 2008NFI, Raven Transport Set Warehousing Agreement
Trucking and third-party logistics firm NFI Industries said Monday it has formed a joint-venture warehousing agreement with Raven Transport.
July 7, 2008Daimler, Indian Firm Choose Site for Truck Plant
Daimler AG and the Hero Group have chosen a site in India to build a new truck plant, Bloomberg reported Monday.
July 7, 2008