Arkansas Best Reports $18 Million 1Q Loss
Arkansas Best Corp. Wednesday reported a first-quarter loss of $18.2 million, or 73 cents a share, compared with a profit of $8.5 million, or 34 cents, a year ago.
April 22, 2009Ryder’s 1Q Income Plunges 88%
Ryder System said Wednesday its first-quarter profit fell 88% and that it was suspending earnings forecasts for future quarters due to the uncertain economy.
April 22, 2009Court Backs FedEx on Drivers’ Status
FedEx Corp.’s small-package delivery drivers may be classified as independent contractors and not company employees, a federal appeals court ruled Tuesday, Bloomberg reported.
April 21, 2009C.H. Robinson Reports Flat 1Q Income
Transportation and third-party logistics firm C.H. Robinson Worldwide’s first-quarter profit dipped slightly to $85.4 million, or 50 cents a share, from $86.3 million, or 50 cents, a year ago.
April 21, 2009Hino Posts $628 Million Loss on Pension Charges
Hino Motors Ltd., Japan’s largest heavy-duty truck maker, had a wider-than-expected annual loss because of falling sales and one-time costs from a change in its pension system, Bloomberg reported Tuesday.
April 21, 2009Load Volumes Decline for Logistics Firms but Gross Margins Rise, Voltmann Says
Freight brokers and logistics providers, who met earlier this month in San Antonio, provided more evidence of the bleak condition of the freight transportation business and also moved to gather data on the size of their segment of the industry.
April 21, 2009Court Dismisses Teamsters’ Suit Over Mexican Trucks
A federal appeals court Monday dismissed a lawsuit by the Teamsters union and other groups who had challenged a cross-border trucking program with Mexico, saying the suit was moot because the Obama administration and Congress ended the program.
April 20, 2009LaHood: Transport Projects’ Savings Must Be Reinvested
Transportation Secretary Ray LaHood said Monday that federal money saved on state transportation projects must be used for additional transportation projects.
April 20, 2009California Begins Reefer Rule Reporting
The California Air Resources Board said it is now enforcing the identification and reporting requirements for California-based transport refrigeration units on trucks, trailers, shipping containers and rail cars assigned to terminals in the state.
April 20, 2009Motor Carriers Well Positioned for Growth over the Next Decade, ATA’s Costello Says
Motor carriers will be well positioned over the next decade to gain business from faster-growing economic sectors such as durable goods, exports and chemical shipments, American Trucking Associations’ chief economist said last week.
April 20, 2009