Apollo Sues EGL Over Buyout Bid; Boosts Offer to $41 a Share
Apollo Management Group, which has bid to buy transportation firm EGL Inc., has sued EGL and its board to prevent EGL’s sale to a group of investors led by its chief executive officer, Bloomberg reported.
March 28, 2007General Freight Services Names New President
Third-party logistics firm General Freight Services Tuesday named Gregory Sebolt to be its president and chief operating officer.
March 27, 2007Diesel Average Price Falls 0.5 Cent to $2.676 a Gallon
The average national price of retail diesel fuel fell for a second straight week, dipping 0.5 cent to $2.676 a gallon, the Department of Energy reported Monday.
March 27, 2007Truck Tonnage Index Declines 1.7% from Feb. ’06
American Trucking Associations’ advanced seasonally adjusted truck tonnage index for February fell 1.7% from the same month a year ago, marking the eighth straight year-to-year decline, ATA said late Monday.
March 27, 2007Paccar to Trim Production at Several Plants in April
Paccar Inc. said it will shut down truck production for several days in April at two Kenworth Truck Co. plants and two Peterbilt Motor Co. factories, cut its build rate for heavy trucks and lay off an unspecified number of workers.
March 27, 2007Shipper ‘White Paper’ Backs Fees on Calif. Port Truckers
A coalition of shippers and marine terminal operators are supporting an overhaul of regulations in California that would include fees on port drayage trucks that do not meet environmental standards, the Long Beach Press-Telegram reported Monday.
March 27, 2007Consumer Confidence Slips in March
Consumer confidence fell in March from a five-year high last month, the New York-based Conference Board said Tuesday.
March 27, 2007Driver Turnover Falls at Large Truckload Carriers
Driver turnover at large truckload carriers dropped 13 percentage points last year — the first decline since 2001 — while it rose by an identical percentage at smaller truckload carriers, according to a survey produced by American Trucking Associations.
March 27, 2007