Parcel courier UPS Inc. on Friday said it restated its financial results for 2007, lowering its yearly per-share earnings to 36 cents from 42 cents because of a tax error, Bloomberg News reported.
February 29, 2008Government, Business, Safety, Fuel
Fleets Search for Savings Through Strategic Equipment Purchases
With fuel prices at a record and the economy teetering at the brink of a recession that could cut into carrier revenue, some truckload carriers are pushing harder for savings by using lighter trailers, limiting idling to save fuel and shortening trade-in cycles.
March 3, 2008Fuel, Business, Government
B.C. Proposes Carbon Tax to Spur Emissions Reductions
The British Columbia government is planning to impose a carbon tax on fossil fuels beginning on July 1, the most comprehensive tax of its kind in North America.
March 3, 2008Fuel, Business, Government
Editorial: Skyrocketing Fuel Prices Add Pain
As if a slowing economy, depressed housing and auto markets and sharply rising consumer prices aren’t bad enough news for trucking, fuel prices are skyrocketing again.
March 3, 2008Business
UPS Restates 2007 Results
Business
PHH Arval’s 4Q Earnings Improve
PHH Corp. on Friday said that its fleet management service subsidiary, PHH Arval, earned $35 million in the fourth quarter, up from $27 million a year ago.
February 29, 2008Government, Business
Personal Spending Rises 0.4% in January
Consumer personal spending rose at a rate of 0.4% in January, the Commerce Department said Friday.
February 29, 2008Business, Logistics
Wabash Sets Plans for New Trailer Plant
Trailer manufacturer Wabash National said it is planning to construct a $25 million trailer manufacturing plant in Franklin, Ky. as part of a new cost-savings initiative.
February 29, 2008Business, Government, Fuel
Oil Tops $102 a Barrel, Sets New Record
Crude oil prices reached another record close on Thursday, passing the $102 a barrel mark as investor flocked to commodities as a hedge against the falling dollar, Bloomberg News reported.
February 28, 2008Business, Safety, Government, Logistics
TransForce's 4Q Income Falls on Goodwill Charge
Canadian transportation firm TransForce Income Fund said Thursday it lost C$30.8 million, or 36 cents a share, in the fourth-quarter as a result of a C$56 million write-off of goodwill associated with the Fund’s Oilfield Services division.
February 28, 2008Business
Initial Claims Rise by 19,000 for Week
Initial jobless claims increased by 19,000 for the week ended Saturday, the Labor Department said Thursday.
February 28, 2008