The daily payments states receive from the Highway Trust Fund for repairs could be made only weekly or twice a month if the fund isn’t replenished, Federal Highway Administrator Victor Mendez told state highway officials.
July 28, 2009Business, Safety, Government
Fed ‘Beige Book’ Says Decline is Slowing, Transportation Still Weak
The Federal Reserve said Wednesday that almost all Federal Reserve districts are seeing the pace of economic recession slow down, but the transportation sector is still showing signs of weakness.
July 29, 2009Government, Business, Safety
Navistar Increases Truck Prices $6,000 to $8,000 for 2010 Engines
Navistar said that its exhaust gas recirculation technology will increase International truck prices by up to $8,000 for the 2010 model year.
July 29, 2009Government, Business, Logistics
Norfolk Southern Profit Drops 45%
Norfolk Southern Corp. reported that their second-quarter profit fell 45% from a year ago.
July 29, 2009Business, Safety, Government
Durable Goods Orders Fall 2.5%
Durable goods orders declined 2.5% in June, but orders excluding transportation equipment increased 1.1%, the Commerce Department said Wednesday.
July 29, 2009Business, Government
Trust Fund Shortfall May Affect Road, Bridge Repairs, Mendez Says
Government, Business
Consumer Confidence Retreats in July
Consumer confidence fell in July, the New York-based Conference Board said.
July 28, 2009Business, Safety, Government
Covenant Reports Loss for 2Q
Covenant Transportation Group said it lost $3.1 million, or 22 cents per share, in the second quarter, compared with a loss of $2.3 million, or 17 cents, a year ago.
July 28, 2009Fuel, Business, Government
Diesel Gains 3.2¢ After Four Weeks of Decline
The average price of diesel fuel rose 3.2 cents to $2.528 a gallon after a four-week drop, the Department of Energy said Monday.
July 27, 2009Business, Government
New °®¶¹´«Ã½ Sales Climb 11%
New home sales increased 11% in June, the largest increase in eight years, the Commerce Department said Monday.
July 27, 2009Government, Business, Safety
New Orleans Port Operators Cut Hours
Both of the terminal operators at the Port of New Orleans have reduced their business hours in response to the economic recession and reduced shipping, the Times-Picayune reported.
July 27, 2009