Saia Inc. said it lost $1.7 million in the second quarter “due to the weak shipping environment and lower yields impacted by increasingly competitive pricing pressure.â€
July 24, 2009Trucking Business News
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
Dems Still Split on Funding of Nation’s Highway Needs
WASHINGTON — Congressional Democrats continued to spar over how best to address the nation’s road transportation needs, as the Senate and House moved on opposing paths.
July 27, 2009Diesel Drops 4.6¢ to $2.496 in 4th Straight Weekly Decline
U.S. retail diesel prices dropped 4.6 cents last week to $2.496 a gallon, the Department of Energy reported — the fourth straight decline — but rising crude oil costs will soon lead to a reversal of that trend, a department analyst predicted.
July 27, 2009Oberstar ‘Troubled’ by Wetlines Warning
House Transportation Committee Chairman James Oberstar (D-Minn.) said he was “deeply troubled†over a claim by truck safety inspectors that proposed legislation requiring the purging of flammable materials from tanker wetlines would be “difficult, if not impossible,†to enforce.
July 27, 2009ATA Joins Industry Group on Contractor Law to Protect Owner-Operator Business Model
Concern about the possibility of legislative threats to the use of owner-operators has led American Trucking Associations to join a Washington, D.C., lobbying group.
July 27, 2009Horizon Lines Loses $31 Million in 1Q
Ocean shipper Horizon Lines lost $31.1 million, or $1.02 a share, in the second quarter, compared with a profit of $5.8 million, or 19 cents, a year earlier.
July 24, 2009Consumer Sentiment Index Rises in July
U.S. consumer confidence rose this month for the first time in five months, according to the Reuters/University of Michigan monthly consumer sentiment index released Friday.
July 24, 2009Safeway Profit Inches Up
Grocery store chain Safeway Inc. said its second-quarter profit inched up 1.8% to $238.6 million, or 57 cents a share, from $234.3 million, or 53 cents, last year.
July 24, 2009Saia Posts 2Q Loss
Universal Truckload Services’ Income Falls
Universal Truckload Services said its second-quarter net income plunged 62.8% to $1.3 million, or 8 cents per share, from $3.5 million, 22 cents, a year ago.
July 24, 2009Intermodal, Rail Traffic Continue to Decline
Intermodal rail traffic fell 18.8% last week compared with the same week last year, the Association of American Railroads said.
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