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The Federal Reserve cut U.S. interest rates by a quarter-percentage point on Wednesday and left the door open for further reductions, saying the risks remain weighted toward economic weakness, rather than inflation.

Three economic reports of interest to the trucking industry released on Tuesday all provided some encouraging news, as durable goods orders, consumer confidence and new home sales all rose more than expected.

New York has become the first state to pass legislation prohibiting the use of handheld cellular telephones while driving, and Gov. George Pataki is expected to sign the bill by the end of the week, news services reported.

Eaton Corp., the largest U.S. maker of truck transmissions, said it expects its second-quarter earnings to fall short of estimates and does not expect a rebound in North American markets this year. Chairman Alexander Cutler said Eaton’s truck business is struggling to break even during "the worst industry conditions in over a decade."

New Campaign Fights Construction Delays; Complaints Force Michigan to Fix I-75; Hyundai, Bering Dealers to Meet Wednesday; Most Expect Rate Cut As Fed Begins Meeting; and more...

Wireless Gadgets Give Workers a Leg Up; Rechargeable Batteries Find Better Future; Move it, or Lose; and more...

In another positive sign for the economy, resales of existing homes rose in May to the second-highest level in the year, news sources reported.

Opponents of the North American Free Trade Agreement are gathering for one last run at preventing full implementation of the trucking elements of that important cross-border pact.

(Editors’ note: We came across this description of what one moving company does to spur its driver/movers to reduce costs and provide better customer service, and thought we’d share it with you to get your ideas. What do you think about the system of pay and fines described below? We’d welcome your letters to the editor on this and other topics.) o assure happy customers, Springfield, Mo., mover Tom Hornbuckle is paying his drivers well, but holding them financially accountable for customer service and operational gaffes..