Heavy-duty truck maker Paccar Inc.’s fourth-quarter profit fell to $113.1 million, or 31 cents per share, from $261.1 million, or 71 cents per share, a year ago.
January 30, 2009BusinessFuelGovernment
Retail Diesel Continues Falling
U.S. retail diesel prices continued to edge down last week, as the average dipped 2.8 cents to $2.268 a gallon, the Department of Energy reported.
February 2, 2009GovernmentBusiness
House Approves Stimulus Bill With Only $30 Bln. for Roads
The House of Representatives last week approved an $819 billion package of spending and tax cuts aimed at boosting the economy, but with less spending on such projects as roads and bridges than some key legislators wanted.
February 2, 2009FuelBusiness
Truckload Fleets Maintain Earnings in 4Q Despite Falling Revenue by Cutting Costs
Eight publicly traded truckload fleets weathered the fourth quarter recession by lowering costs, including fuel, and posted earnings that either topped or came close to the year-earlier period.
February 2, 2009BusinessGovernment
YRC Loses Almost $1 Bln. In ’08 as LTLs Struggle
Less-than-truckload carriers in the fourth quarter were hammered by sagging tonnage and fiercely competitive pricing, several of the largest publicly traded LTLs said last week.
February 2, 2009Business
Volvo Plans 650 Layoffs at Va. Truck Plant
Volvo Trucks North America plans to lay off 650 workers from its manufacturing plant in Dublin, Va., the Roanoke (Va.) Times reported.
January 30, 2009GovernmentBusiness
Exxon Mobil Sets New Earnings Record for a U.S. Company
Oil giant Exxon Mobil Corp. Friday reported a 2008 profit of $45.2 billion, breaking its own record for a U.S. company, although its fourth-quarter earnings fell 33% from a year ago, the Associated Press reported.
January 30, 2009Business
YRC Reports Loss for 4Q, Year
YRC Worldwide said late Thursday it lost $244 million in the fourth quarter and close to $1 billion last year.
January 30, 2009Business
Saia’s 4Q Income Declines
Saia Inc. said Friday its fourth-quarter earnings fell to $1.4 million, or 10 cents a share, from $2 million, or 15 cents, a year ago.
January 30, 2009GovernmentBusiness
Fourth-Quarter GDP Declines 3.8%
The U.S. economy contracted 3.8% in the fourth quarter, the biggest drop since 1982, though it grew for the year, the Commerce Department said Friday.
January 30, 2009