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Navistar to Restate Financials; Plans New Engine Venture
Navistar International Corp., which has not issued earnings statements since September, said Friday that an internal audit found no evidence of fraud and said it plans to file an annual report for this fiscal year by January 2007.
June 2, 2006Pacer International Promotes Two Executives
Transportation and third-party logistics firm Pacer International said Thursday it had promoted Tom Shurstad to be its new president.
June 2, 2006Payrolls Rise Less than Forecast; Unemployment Dips to 4.6%
U.S. payrolls rose by 75,000 in May and the unemployment rate inched down to 4.6%, the Labor Department reported Friday.
June 2, 2006April Factory Orders Drop 1.8%
U.S. factory orders fell 1.8% in April, the Commerce Department reported Friday.
June 2, 2006OPEC Agrees to Maintain Oil Production Quotas at Record Level
OPEC ministers meeting in Caracas, Venezuela, Thursday agreed to keep production quotas unchanged at a record high level in an effort to ease prices, Bloomberg reported.
June 2, 2006ISM Manufacturing Index Declines in May
The Institute for Supply Management’s manufacturing index slowed in May, the group said Thursday.
June 2, 2006YRC Streamlines Yellow, Cites Customers’ Needs
Longhaul less-than-truckload carrier Yellow Transportation is reorganizing its managerial structure to keep up with customers’ changing demands, the company’s president said in an interview.
June 2, 2006Editorial: Rebuilding U.S. Infrastructure
There’s no doubt that the nation is facing a crisis in its transportation infrastructure, as more vehicles are moving ever-more slowly along an aging network of highways, many of them designed for bygone eras.
June 2, 2006President Nominates Charles Nottingham to Head STB
President Bush intends to nominate Charles Nottingham to be a member — and upon Senate confirmation chairman — of the Surface Transportation Board, the White House said.
June 2, 2006Construction Spending Declines 0.1% in April
Construction spending declined 0.1% in April, the first decline in almost a year, the Commerce Department said Thursday.
June 1, 2006