The Highway Trust Fund needs an $8 billion transfusion from the U.S. Treasurys general fund in order to avoid an imminent deficit, Transportation Secretary Mary Peters said Friday during a conference call.
September 5, 2008Trucking Business News
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
UTi Worldwide Reports Higher Earnings
Air and ocean freight forwarder UTi Worldwide said its net income for its 2009 fiscal second quarter ended July 31 rose to $33.7 million, or 33 cents a share, from $27.7 million, or 28 cents a year ago.
September 8, 2008ATA Backs Ontario Speed Limiter Plan, but Suggests Changes to Avoid Conflict
American Trucking Associations said it supports Ontarios plan to mandate speed limiters set at 105 kilometers or about 65.2 mph on all trucks but urged the province to alter its regulation to avoid conflicts with potential U.S. rules.
September 8, 2008California Sues Two Port Trucking Firms Over Independent Contractor Status
Californias attorney general filed lawsuits against two small trucking companies Friday on grounds they allegedly deprived drivers of benefits and may have cheated the state out of payroll taxes, the Los Angeles Times reported Sunday.
September 8, 2008Oil Rises as Hurricane Ike Moves Toward Gulf of Mexico
Oil rose by nearly $3 to more than $109 a barrel early Monday on concerns that Hurricane Ike could reach the Gulf of Mexico later this week, Bloomberg reported.
September 8, 2008Trailer Sales Nosedive in 08; Fleets Just Arent Buying
Trailer makers say they are suffering through one of the largest downturns in their history the longest down-cycle ever, said one executive forcing layoffs, production cuts and a search for new products.
September 8, 2008Trucking Sees Things to Like In Both White House Hopefuls
As the two primary U.S. political parties concluded their presidential nominating conventions and formally began the fall campaign, trucking executives said each candidate offered pluses and minuses for the industry.
September 8, 2008Medium-Duty Truck Review: Green Is Clearly the Designer Color for 2009 Models
The color for 2009 medium- and light-duty trucks is green, as in environmentally friendly. There are no major changes to designs for the 2009 model year; like heavy-duty trucks, the next major changes will occur with the 2010 model year as manufacturers adapt to the next round of diesel emission standards.
September 8, 2008Diesel Dips 2.4瞽 to $4.121
The average price of retail diesel in the United States dipped 2.4 cents a gallon last week to $4.121, the seventh straight decline, even as Hurricane Gustav reached the Gulf Coast, the Department of Energy reported.
September 8, 2008Highway Trust Fund Needs $8 Billion Bailout, DOT Says
Louisiana, Mississippi Get $4 Million for Emergency Repairs
The federal government will provide $4 million in emergency relief funds to Louisiana and Mississippi to help repair roads and bridges damaged by floods caused by Hurricane Gustav, U.S. Transportation Secretary Mary Peters said Friday.
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