UPS Inc. said Tuesday it earned $254 million, or 25 cents per share, in the fourth quarter, though its revenue declined and it warned this year would be difficult in light of the struggling economy.
February 3, 2009BusinessEquipment
Express-1 Acquires 3PL First Class Expediting
Express-1 Inc., parent company of Express-1 Expedited Solutions, acquired First Class Expediting Services in a deal that may become a template for future acquisitions, Express-1’s chief financial officer said.
February 3, 2009Business
UPS Names Freight-Forwarding President
UPS Inc. on Jan. 27 appointed Ken Torok president of its global freight-forwarding operations.
February 3, 2009GovernmentBusinessSafety
Senate GOP Blocks Additional $25 Billion for Highways
Senate Republicans Tuesday blocked a proposal to add billions of dollars of highway and mass transit funding to the economic stimulus bill continuing to shape, the Associated Press reported.
February 3, 2009GovernmentBusinessSafety
Wal-Mart Receives Prototype Hybrid from ArvinMeritor
ArvinMeritor Inc. said Tuesday that it has presented Wal-Mart Stores Inc. with a prototype heavy-duty truck equipped with the first Meritor diesel-electric drivetrain.
February 3, 2009FuelBusinessLogisticsGovernment
Diesel Drops 2.2¢ to $2.246
Diesel fuel’s national average price fell 2.2 cents to $2.246 a gallon, the lowest in more than three and a half years, the Department of Energy said Monday.
February 3, 2009BusinessSafetyGovernment
Covenant Reports Loss for 4Q, Year
Covenant Transportation Group said Tuesday it lost $39.8 million, or $2.83 per share, compared with a profit of $176 million or 1 cent, a year ago.
February 3, 2009GovernmentBusinessSafetyEquipment
Cummins’ 4Q, Full-Year Profit Declines
Diesel engine maker Cummins Inc. said Tuesday its fourth-quarter profit fell 55% from a year ago, due to declining demand.
February 3, 2009BusinessSafetyGovernmentAutonomous
Maryland Approves Truck Toll Increase
The Maryland Transportation Authority has approved increased truck tolls its seven toll facilities, the Associated Press reported.
February 3, 2009GovernmentBusinessSafetyFuel
EPA Grants Calif. Request to Enforce Reefer Emissions Rule
California environmental regulators said last week the U.S. Environmental Protection Agency has granted the state a waiver that will allow enforcement of its regulation requiring emission-control retrofits on refrigerated trucks and trailers.
February 3, 2009