Germany-based Deutsche Post AG will write down the value of its DHL Americas unit by $874 million, Bloomberg reported Wednesday.
January 23, 2008Business, Safety, Government
Railroads, Transport Union Reach Accord
U.S. freight railroads have reached a tentative contract with about 81,000 workers represented by the United Transportation Union, Bloomberg reported Thursday.
January 24, 2008Business, Equipment
Cummins to Add 500 Workers
Heavy-duty diesel engine maker Cummins Inc. said it will add about 500 professional employees, many of them engineers, over the next two years.
January 24, 2008Business
Ford Takes $2.8 Billion Fourth-Quarter Loss
Ford Motor Co. said Thursday it lost $2.8 billion in the fourth quarter, an improvement from the same quarter a year ago, in which it lost twice that amount.
January 24, 2008Business
Werner’s Fourth-Quarter Profit Falls
Truckload carrier Werner Enterprises said Wednesday its fourth-quarter net income fell 30% to $15.6 million or 22 cents a share, from $24 million or 31 cents a year earlier.
January 23, 2008Government, Business, Safety, Fuel
Maine Suspends Some Weight Restrictions Due to Fuel Prices
Maine Gov. John Baldacci (D) signed a bill to temporarily allow trucks hauling forest products to exceed state weight limits by 5% in hopes of helping them offset high fuel prices, the Associated Press reported.
January 23, 2008Business, Government
Oklahoma to Begin Truck-Weighing Technology Program
Oklahoma officials are set to begin a $61 million project to build nine state-of-the-art inspection stations will improve highway safety and better enforce truck weight laws, the Associated Press reported.
January 23, 2008Business, Logistics
CN’s Fourth-Quarter Profit Rises
Canadian National Railway Co. said its fourth-quarter net income rose C$833 million or C$1.68 per share, from C$499 million or 95 cents per share a year earlier.
January 23, 2008Business, Logistics
Norfolk Southern’s 4Q Profit Improves
Eastern freight rail line Norfolk Southern Corp.’s fourth-quarter profit rose 3.6% and the railroad increased its dividend, the company said late Tuesday.
January 23, 2008Fuel, Business, Logistics, Government
Diesel Drops 5.6¢ to $3.27
The average national price of diesel fuel fell for a second straight week, dropping 5.6 cents to $3.27 a gallon, the Department of Energy said Tuesday.
January 22, 2008