Allison Transmission Third-Quarter Profit Rises 14%
Allison Transmission Holdings posted net income of $158 million in the third quarter of 2023, an increase of 14% from $139 million in the same period in 2022, the company said Oct. 25.
October 31, 2023Jack Cooper Making $2 Billion Bid for Bankrupt Yellow
Jack Cooper Transport is reportedly making a nearly $2 billion bid to snatch up the assets of Yellow, the trucking firm that collapsed in late July and filed for bankruptcy.
October 31, 2023Caterpillar Falls as Shrinking Backlog Raises Demand Worry
Caterpillar Inc. shares tumbled in premarket trading after the company said its order backlog shrank in the third quarter, in a sign of slowing demand for its iconic yellow machinery.
October 31, 2023Stellantis Expects Strike to Cost It 750 Million Euros
MILAN — Stellantis said Oct. 31 that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its competitors.
October 31, 2023Court Approves Yellow Administrators’ Auction Plans
A court on Oct. 27 approved plans by the administrators of Yellow to use auctioneers to sell the company’s rolling stock, as Jack Cooper Transport eyes a bid to rescue the motor carrier.
October 30, 2023Mack, UAW End Latest Labor Talks With No Deal
Negotiations between Mack Trucks and the United Auto Workers union over a labor agreement ended Oct. 26 with no new master contract in place, the Volvo Group subsidiary said.
October 30, 2023GM Reaches Tentative Deal With UAW to End Strike
General Motors Co. reached a tentative agreement with the United Auto Workers, according to people familiar with the matter, bringing an end to a 6-week-old strike.
October 30, 2023Iowa Schools Get $4.8 Million in Grants for CDL Training
With Iowa projected to need more than 10,000 truckers yearly through 2030, Gov. Kim Reynolds again has taken steps to get more drivers behind the wheel.
October 27, 2023Ford Pulls Profit Forecast on Strike Impact
Ford Motor Co. said it fell short of third-quarter earnings expectations, citing higher costs and lower quality, a day after it won labor peace through a tentative contract with the UAW.
October 27, 2023Congestion Cost Trucking a Record $94.6 Billion in 2021
Snarled traffic added $94.6 billion in costs to the trucking industry in 2021, up from $74.5 billion in 2016, according to a study by the American Transportation Research Institute.
October 25, 2023