U.S. Steel Corp. said it expects to report a wider loss than analysts were expecting, the third American steelmaker in three days to warn on their outlook. The shares fell.
September 19, 2019Logistics 50 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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Extras
On the Bubble
US Steel Stock Takes Hit, Earnings Estimates Missed
Ports Post Record Volume as Holiday Season Begins
Major U.S. seaports posted growth in containerized cargo volume for August, the start of the season when retailers begin importing holiday merchandise.
IANA Honors BNSF’s Steve Branscum, CCM’s Mike Wilson
LONG BEACH, Calif. — Steve Branscum, retired group vice president for BNSF Railway, and Mike Wilson, CEO of Consolidated Chassis Management, have received Silver Kingpin Awards from the Intermodal Association of North America during Intermodal Expo 2019 on Sept. 16.
GM Makes Concessions on Big-Ticket Employee Health Care
As GM was nearing the expiration of its labor contract with the union last week, the carmaker sought to have hourly workers pay 15% of their health care costs, according to sources familiar with the talks. But by the time the company presented UAW with a deadline offer, GM walked back the proposal and called for keeping contributions steady at about 4%, said the sources.
September 18, 2019FedEx Posts Drop in Q1 Profit, Decreases Forecast for Fiscal 2020
FedEx Corp.’s fiscal 2020 first-quarter earnings were down as a result of a weakening global economy and increased costs as it expands its service into other business lines, including seven-days-a-week home delivery service, the parcel delivery company said.
NYC Congestion Pricing Encouraged by Transportation Group
New York’s congestion pricing plan should include fees on motorists both entering and leaving midtown Manhattan, as well as variable rates linked to peak and off-peak hours to encourage commuters to choose the least busy times to travel, a transportation group recommended.
US Exporters Rely on Trucks to Meet Mexico’s Fuel Demand
U.S. exporters are increasingly relying on trucks to get fuel into Mexico as the country’s gasoline production sags and infrastructure constraints limit shipments from one coast to the other.
TuSimple to Use New Funds for System Development, Route Expansion
Startup autonomous truck company TuSimple announced commitments from investors for an additional $120 million. These funds are part of an extended Series D round that was oversubscribed and reached a total of $215 million.
Striking GM Workers, Union Far From Agreement
General Motors Co. and the United Auto Workers remain far apart in their talks over a new contract, according to the union’s top negotiator, making it less likely a strike called Sept. 15 will end within two days like a previous work stoppage did in 2007.
Trimble Dives Deeper Into Data Analytics, Taps Langley to Lead Transportation Division
HOUSTON — Trimble introduced a broad range of new software features and product enhancements designed to help fleets gain more insights from the data in their systems and collaborate more closely with their shipper customers.