Swift Transportation Co. founder Jerry Moyes said Thursday he has completed his $2.5 billion takeover of the truckload carrier.
May 11, 2007Government, Business, Safety
Fleets Grow as Freight Falls
NEW YORK 鈥 The decline in freight volume this year and the number of heavy-duty trucks purchased last year during the 鈥減re-buy鈥 were both markedly bigger than analysts thought, leading to too many trucks chasing too little business.
May 14, 2007Government, Business, Safety
STB Ends Antitrust Immunity for Trucking Rate Bureaus
The Surface Transportation Board has revoked the authority of motor carriers to engage in collective ratemaking and freight classification.
May 14, 2007Business, Government, Safety
Firms Seek to Replace Pension Funds
NEW YORK 鈥 The top executive at Arkansas Best Corp. said he expects to offer his fleet鈥檚 unionized employees a less-costly pension benefit plan and withdraw from the current Teamsters multi-employer funds.
May 14, 2007Business, Safety, Government
Moyes Completes Swift Buyout Deal
Business, Government
Business Inventories Fall; Sales Rise
U.S. business inventories fell in March but sales rose, the Commerce Department said Friday.
May 11, 2007Business, Government
April Retail Sales Fall 0.2%
Retail sales fell 0.2% in April, the Commerce Department said Friday.
May 11, 2007Business, Fuel, Government
Producer Price Index Gains 0.7%
The producer price index rose 0.7% in April, while the core PPI excluding food and energy was unchanged for a second straight month, the Labor Department said Friday.
May 11, 2007Government, Business, Logistics
Clarke Sets 2-for-1 Stock Split
Canadian holding company Clarke Inc. said Thursday its first-quarter earnings improved, and the company鈥檚 board approved a 2-for-1 stock split.
May 10, 2007Business, Government, Safety, Fuel
Feds Probing Oil-Trading Practices
Federal regulators are looking into possible manipulation of crude oil prices by after-hours trading practices, the Wall Street Journal reported Thursday.
May 10, 2007Business, Government, Logistics
U.K. Hedge Fund Seeks Rail Returns
A British hedge fund that owns shares of U.S. railroads Union Pacific Corp. and BNSF Railway, in addition to its previously disclosed holdings of CSX Corp., wants better returns from its U.S. rail holdings, Bloomberg reported.
May 10, 2007