Court OKs Allied’s Plan
Auto carrier Allied Holdings said Saturday that a bankruptcy court has approved its reorganization plan.
May 14, 2007Trimac’s Earnings Dip in 1Q
Canada-based transportation firm Trimac Income Fund said its first-quarter net earnings fell to C$1.5 million or 5 cents per unit, from C$3.7 million or 7 cents a year earlier.
May 14, 2007Fleets Grow as Freight Falls
NEW YORK — The decline in freight volume this year and the number of heavy-duty trucks purchased last year during the “pre-buy” were both markedly bigger than analysts thought, leading to too many trucks chasing too little business.
May 14, 2007STB Ends Antitrust Immunity for Trucking Rate Bureaus
The Surface Transportation Board has revoked the authority of motor carriers to engage in collective ratemaking and freight classification.
May 14, 2007Firms Seek to Replace Pension Funds
NEW YORK — The top executive at Arkansas Best Corp. said he expects to offer his fleet’s unionized employees a less-costly pension benefit plan and withdraw from the current Teamsters multi-employer funds.
May 14, 2007Fleets Eye Safety Gains to Cut Insurance Costs
Risk management has taken on a new urgency for many carriers as trucking companies attempt to reduce operating costs and minimize insurance premiums, often by including safety improvements.
May 14, 2007Volvo’s 1Q Profit Declines
Truck maker Volvo AB’s first-quarter profit dipped 5.8% as North American sales declined, but the company’s European sales increased, Bloomberg reported Friday.
May 11, 2007Moyes Completes Swift Buyout Deal
Swift Transportation Co. founder Jerry Moyes said Thursday he has completed his $2.5 billion takeover of the truckload carrier.
May 11, 2007Michelin Forecasts Higher Costs
Tire maker Michelin & Cie. said it will face tougher competition and higher raw materials costs this year, Bloomberg reported Friday.
May 11, 2007Business Inventories Fall; Sales Rise
U.S. business inventories fell in March but sales rose, the Commerce Department said Friday.
May 11, 2007