Business

FedEx Corp. may have to pay $319 million in back taxes and penalties for misclassifying its ground-delivery workers as contractors in 2002, Bloomberg reported.

Volvo Trucks North America is recalling 125,000 heavy-duty trucks because of faulty circuit breakers that could cause a fire, Bloomberg reported.

Daimler Financial Services Americas may make fewer loans to finance purchases of commercial trucks in 2008, and its chief executive officer sees a slow year ahead for U.S. truck sales, Bloomberg reported.

Specialty truck maker Oshkosh Truck Corp. won a $179.3 million U.S. Army contract for heavy equipment mobility truck systems, Bloomberg reported.

Trucking faced challenges on all fronts in 2007 as credit woes curtailed economic activity, a federal appeals court overturned key provisions of rules governing driver hours and truck equipment suppliers endured another precipitous — but not unexpected — sales slump

Class 8 truck sales in the United States continued to scrape along the bottom in November, with original equipment manufacturers selling 10,309 vehicles — down 54.3% from the 22,539 they sold a year ago.

WASHINGTON — The chairman of the Senate Commerce Committee’s panel on surface transportation called the Federal Motor Carrier Safety Administration’s revised hours-of-service rule “a sham,” while advocacy groups asked a federal court to once again overturn portions of the rule.

On the heels of YRC Worldwide’s settlement with the Teamsters union on a new five-year labor contract with in-creased work-rule flexibility, ABF Freight System said it will offer an ambitious proposal to spend about $825 million to “withdraw from all of the 27 multi-employer pension plans to which we contribute.”

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