Vice President Joe Biden called for greater public investment in transportation infrastructure during a Feb. 17 visit to a logistics yard east of Memphis, Tennessee.
February 18, 2016Logistics 50 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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On the Bubble
Biden Calls for Increased Transportation Infrastructure Investment
N.Y. State Senator, UPS Oppose Rail Merger
New York State Sen. Kathleen Marchione and UPS Inc. are among those who are opposing the merger of Canadian Pacific Railway and Norfolk Southern Corp., according to letters on file with the Surface Transportation Board.
NTSB Rips FMCSA on Crash
The Federal Motor Carrier Safety Administration was publicly criticized by the National Transportation Safety Board for “inadequate safety oversight of high-risk carriers” after an investigation of a fatal crash in Illinois in which fatigue was blamed.
CP’s Quest for Norfolk Southern Intensifies
MIAMI — Canadian Pacific Railway Ltd. and Norfolk Southern Corp. have upped the stakes in a $30 billion battle for control of the U.S. railway, as the potential acquirer said it would take its case directly to NS shareholders.
Biden to Highlight Freight-Rail Project During Memphis Visit
Vice President Joe Biden will travel to Memphis on Feb. 17 to highlight work on Norfolk Southern's Crescent Corridor freight-rail project.
CP to Drop Norfolk Southern Pursuit if Resolution Fails, CEO Says
Canadian Pacific Railway Ltd. is ready to end efforts to buy Norfolk Southern Corp. if shareholders of the U.S. railroad reject a resolution calling for merger talks, the head of the Calgary-based company said.
February 11, 2016Maersk Profit Plunges as Oil, Container Units Suffer
A.P. Moeller-Maersk A/S reported an 84% plunge in 2015 profit after its oil unit was hit by lower energy prices and the container division got squeezed between sluggish trade growth and overcapacity. The shares fell the most in almost a year.
February 10, 2016CP Rail Said to Back Away From Norfolk Southern Proxy Fight
Canadian Pacific Railway is moving away from a proxy fight for Norfolk Southern Corp. but still plans to pursue a takeover of the U.S. carrier, a person familiar with the plan said.
XPO Logistics Suit Claims YRC Poached Execs, Stole Trade Secrets
XPO Logistics Inc. filed suit against YRC’s Freight unit, claiming that the company poached seven management employees, including two vice presidents, and stole trade secrets around the time that XPO was completing the acquisition of Con-way Inc.
Saia, Echo Report Lower Fourth-Quarter Earnings
Weaker freight market conditions drove net income down 16% at less-than-truckload carrier Saia Inc., which reported a profit of $11.4 million, or 45 cents a share, and Echo Global Logistics Inc. earnings declined 64% to $1.7 million, or 6 cents a share, hurt by acquisition-related costs.
February 5, 2016