Menlo Buying Asian Logistics Firm
Con-way Inc. unit Menlo Worldwide and Cougar Logistics Corp. said Thursday they have signed an agreement under which Menlo will purchase Cougar for $33.9 million.
June 7, 2007Wholesale Inventories Rise 0.3%
Wholesale inventories rose 0.3% in April, the Commerce Department said Thursday.
June 7, 2007Norfolk Southern Plans $2 Bln. Rail Corridor
Eastern freight rail line Norfolk Southern Corp. plans to build a rail corridor costing more than $2 billion from Louisiana to the Northeast that it said would speed shipments and reduce truck freight, the Associated Press reported.
June 7, 2007UTi Worldwide’s 1Q Income Dips
Air and ocean freight forwarder UTi Worldwide’s fiscal first -quarter net income fell 6% to $18.1 million or 18 cents a share, from $19.3 million or 20 cents a year ago.
June 7, 2007Navistar Sues Ford in Engine Dispute
Navistar International Corp. said Wednesday it has filed a lawsuit against Ford Motor Co. for breach of contract relating to a diesel engine contract involving Ford’s F-150 pickup truck and is seeking “at least hundreds of millions of dollars” in damages.
June 6, 2007Ceva Secures EGL Financing
The private-equity parent company of Ceva Group has received a commitment of $2.95 billion in debt financing to fund the buyout of air freight forwarder EGL Inc., Bloomberg reported Tuesday.
June 6, 2007Fuel Inventories Rise for Week
Inventories of crude oil, gasoline and distillate fuel all rose last week, and oil prices receded slightly in early trading Wednesday, Bloomberg reported.
June 6, 2007ATA Warns on ‘Hypermiling’
American Trucking Associations is recommending that fleet safety directors warn their drivers and owner-operators of a dangerous practice among automobile drivers of drafting behind tractor-trailers.
June 6, 2007FMCSA’s Hill Rejects Criticism of Mexican-Trucks Plan
Roadcheck ’07 Wraps Up Thursday
The Commercial Vehicle Safety Alliance’s annual 72-hour Roadcheck truck-inspection blitz wraps up its three-day run on Thursday.
June 6, 2007