Credit rating agency Standard & Poor’s on Thursday lowered YRC Worldwide’s corporate credit rating to “BB†from “BB+,†and said that the carrier’s slumping earnings could hurt its ability to fulfill credit obligations if the current softness in the trucking industry persists.
February 21, 2008Business
New York Court Upholds Federal Liability Law
The New York Supreme Court earlier this month upheld the constitutionality of the 2005 Graves Amendment, a federal law that eliminates vicarious liability nationwide.
February 25, 2008Business, Safety, Equipment
Class 8 Fleet Growth Stalls As Carriers Delay Purchases
Growth of the U.S. heavy-duty truck fleet decelerated in the fourth quarter, as freight carriers, led by large fleets, continued to put off buying new equipment in the face of a possible recession, according to truck registration data from market research firm R.L. Polk & Co.
February 25, 2008Government, Business, Safety, Fuel
Port Adopts Clean-Truck Plan, Rejects Owner-Operator Ban
Long Beach officials last week put finishing touches on a sweeping, unprecedented set of rules aimed at dramatically cutting emissions from the 17,000 drayage trucks working at the huge California container port, rejecting the plan’s most controversial feature that would have forced independent owner-operators to work for larger carriers.
February 25, 2008Business, Fuel, Logistics, Government
Fuel Jumps 11.6¢ to $3.396
U.S. retail diesel prices soared 11.6 cents last week to a national average of $3.396 a gallon, the highest level since early December, the Department of Energy reported.
February 25, 2008Government, Business, Safety
TSA Expands TWIC Driver Identification Program; Security Plan Will Encompass 147 U.S. Ports
Two years after it was first announced, the federal government has begun a full rollout of its plan to provide high-tech, secure identification for workers in and around America’s ports.
February 25, 2008Government, Business
Universal Truckload's 4Q Earnings Slip
Universal Truckload Services, Warren, Mich., said it earned about $4.8 million, or 30 cents a share in the fourth quarter of 2007, down from $5.3 million, or 33 cents, in the previous quarter.
February 22, 2008Business, Safety, Government
Connecticut Adds ‘Truck Escape Ramp’ to Route 44
Connecticut transportation officials announced the completion of a “truck escape ramp†on Route 44.
February 22, 2008Business
S&P Slashes YRC’s Credit Rating
Business, Safety, Government, Fuel
Knight Puts 1,000th 2007 Tractor Into Service
Truckload carrier Knight Transportation said it has taken delivery of its 1,000 tractor certified to the Environmental Protection Agency’s 2007 emission standards.
February 21, 2008Business
Fed Minutes Reveal ‘Significant’ Risk of Downturn
Federal Reserve officials said during their Jan. 29-30 meeting that lower interest rates may be needed for some time in order to stave off the affects of a faltering U.S. economy, Bloomberg News reported.
February 21, 2008