Equipment

Declaring the current system irrevocably “broken,” Transportation Secretary Mary Peters unveiled the Bush administration’s final major surface transportation policy initiative — a reform of the highway program that includes unlimited tolling and an increased emphasis on private capital.

Bridgestone Firestone North American Tire said Thursday that it will raise prices by up to 10% on all of its truck, bus, pickup and passenger tires because of higher raw materials costs and persistently high fuel prices.

Goodyear Tire & Rubber Co.’s second-quarter profit rose to $75 million, or 31 cents a share, from $56 million, or 26 cents, in 2007 as stronger international sales offset a slip in the North American market, the company said Thursday.

Engine manufacturer Cummins Inc., said that its second-quarter profits rose to a record as overseas demand bolstered a recovering North American truck-engine market.

Vehicle component supplier ArvinMeritor earned $44 million, or 60 cents a share in the quarter ended June 30, compared with a loss of $70 million, or 99 cents, a year ago, the company said Tuesday.

Wesley Kemp was appointed president and chief operating officer of less-than-truckload carrier ABF Freight System, the company said.

Ryder System Wednesday reported a second-quarter profit of $62.9 million, or $1.10 per share, compared with $65.1 million, or $1.07 per share, a year ago.

Diesel engine maker Cummins Inc. said Friday it concluded joint ventures with two companies and that it will purchase a stake in a North Carolina engine company, which will become a Cummins unit.

Vehicle parts manufacturer Eaton Corp. said Tuesday its second-quarter net earnings jumped 35% led by more acquisitions, but the company trimmed its earnings forecast for the year.