Vice President Joe Biden will travel to Memphis on Feb. 17 to highlight work on Norfolk Southern's Crescent Corridor freight-rail project.
February 12, 2016Government, Logistics
Biden to Highlight Freight-Rail Project During Memphis Visit
Business, Logistics
CP to Drop Norfolk Southern Pursuit if Resolution Fails, CEO Says
Canadian Pacific Railway Ltd. is ready to end efforts to buy Norfolk Southern Corp. if shareholders of the U.S. railroad reject a resolution calling for merger talks, the head of the Calgary-based company said.
February 11, 2016Business, Logistics
Maersk Profit Plunges as Oil, Container Units Suffer
A.P. Moeller-Maersk A/S reported an 84% plunge in 2015 profit after its oil unit was hit by lower energy prices and the container division got squeezed between sluggish trade growth and overcapacity. The shares fell the most in almost a year.
February 10, 2016Logistics
CP Rail Said to Back Away From Norfolk Southern Proxy Fight
Canadian Pacific Railway is moving away from a proxy fight for Norfolk Southern Corp. but still plans to pursue a takeover of the U.S. carrier, a person familiar with the plan said.
February 9, 2016Business, Logistics
XPO Logistics Suit Claims YRC Poached Execs, Stole Trade Secrets
XPO Logistics Inc. filed suit against YRC’s Freight unit, claiming that the company poached seven management employees, including two vice presidents, and stole trade secrets around the time that XPO was completing the acquisition of Con-way Inc.
February 8, 2016Business, Logistics
Saia, Echo Report Lower Fourth-Quarter Earnings
Weaker freight market conditions drove net income down 16% at less-than-truckload carrier Saia Inc., which reported a profit of $11.4 million, or 45 cents a share, and Echo Global Logistics Inc. earnings declined 64% to $1.7 million, or 6 cents a share, hurt by acquisition-related costs.
February 5, 2016Business, Logistics
Norfolk Southern, CSX Say They Won't Make 2018 Deadline for Train-Control Safety System
CSX Corp. and Norfolk Southern Corp. told the Federal Railroad Administration they won't make the 2018 deadline for full implementation of positive train control.
February 4, 2016Business, Logistics
Total Quality Logistics to Open New Indiana Location
Total Quality Logistics is planning to open a sales office next month at Blackthorn Corporate Park on the northwest side of South Bend, Indiana.
February 4, 2016Business, Logistics
Trailer Shipments Set Record as 2015 Orders Stay Strong
New trailer orders in the United States reached 315,000, the second-highest annual total, while a growing backlog pushed total shipments to an annual record, ACT Research reported.
February 1, 2016Business, Logistics
XPO Logistics Makes More Job Cuts at LTL Unit
XPO Logistics said it has cut another 190 jobs, primarily at its less-than-truckload unit, to save more than $20 million annually.
January 29, 2016