The Highway Trust Fund needs an $8 billion transfusion from the U.S. Treasury鈥檚 general fund in order to avoid an imminent deficit, Transportation Secretary Mary Peters said Friday during a conference call.
September 5, 2008Business, Safety, Government
Highway Trust Fund Needs $8 Billion Bailout, DOT Says
Business, Safety, Government
Louisiana, Mississippi Get $4 Million for Emergency Repairs
The federal government will provide $4 million in emergency relief funds to Louisiana and Mississippi to help repair roads and bridges damaged by floods caused by Hurricane Gustav, U.S. Transportation Secretary Mary Peters said Friday.
September 5, 2008Business, Safety
Rail, Intermodal Traffic Decline
Rail and intermodal traffic both declined for the week ended Saturday compared with a year ago, the Association of American Railroads said.
September 5, 2008Fuel, Business, Government
Consumer Confidence Jumps on Lower Fuel Prices
U.S. consumer confidence this month rose by the most in four years in September, according to the Reuters/University of Michigan鈥檚 preliminary monthly consumer sentiment index, released Friday.
September 5, 2008Business
August Unemployment Hits Five-Year High
U.S. payrolls plummeted in August as the unemployment rate soared to 6.1%, tying a 2003 record, the Labor Department said Friday.
September 5, 2008Business, Government
N.J. Turnpike Authority Calls for Toll Hikes
The New Jersey Turnpike Authority asked Gov. Jon Corzine (D) to approve a series of toll increases on two of the state鈥檚 major toll roads to pay for infrastructure improvements, the Associated Press reported.
September 5, 2008Business, Safety, Government
TTNews to Close Monday for Labor Day
Transport Topics Online will be closed Monday for the Labor Day holiday. Please check back on Tuesday, Sept. 8, for the latest trucking and freight transportation news.
September 4, 2008Business, Safety, Equipment
American Axle to Produce Commercial Truck Parts
American Axle & Manufacturing Holdings will expand a factory in Michigan to build more parts for large commercial trucks, reducing its reliance on General Motors Corp. for business, Bloomberg reported Thursday.
September 4, 2008Business, Safety, Government
ISM Services Index Shows Expansion in August
The U.S. economy鈥檚 service sector expanded in August following two straight months of contraction, the Institute for Supply Management said Thursday.
September 4, 2008Business
Mass. Restricts Trucks on Part of 鈥楤ig Dig鈥 Project
The Massachusetts Turnpike Authority is placing a weight limit for trucks on the Leverett Connector in Boston, related to the city鈥檚 $15 billion 鈥淏ig Dig鈥 construction project, the Associated Press reported.
September 4, 2008