Transportation and third-party logistics firm Pacer International said late Wednesday it took a fourth-quarter loss of $65.1 million, or $1.87 a share, compared with a profit of $20.6 million, or 59 cents, a year earlier.
February 11, 2009BusinessSafetyGovernment
DOT Freight Transportation Index Falls 3%
The Department of Transportation’s freight transportation services index declined 3% in December from a year earlier, DOT said Wednesday.
February 11, 2009Business
Rush Reports Lower 4Q Profit
Truck dealership Rush Enterprises said its fourth-quarter net income fell to $5.1 million, or 14 cents a share, from $12.3 million, or 32 cents, a year ago.
February 11, 2009Business
Wright Express Reports Higher 4Q Income
Wright Express Corp. said Wednesday its fourth-quarter earnings rose to $65.2 million, or $1.66 a share, from $4.6 million, or 11 cents, a year ago.
February 11, 2009Business
Express-1 Reports Higher 4Q Profit
Express-1 Expedited Solutions’ fourth-quarter profit rose to $587,000, from $457,000 a year ago, while its per-share income held at 2 cents.
February 11, 2009BusinessTechnologyLogistics
Norfolk Southern, CN to Share Track, Freight in Midwest
Canadian National Railway and Norfolk Southern Corp. plan to create a “MidAmerica Corridor,” an agreement in which the railroads will share track and carry each other’s shipments in various routes in the Midwest, the railroads announced Tuesday.
February 11, 2009FuelBusinessGovernment
DOE Holds ’09 Diesel Forecast at $2.28 a Gallon
The Energy Department held its projection for diesel prices from a previous forecast, saying trucking’s main fuel would average $2.28 per gallon this year and $2.55 in 2010.
February 10, 2009BusinessGovernment
UPS, Postal Service Set Retail-Return Partnership
UPS Inc. said Tuesday it is partnering with the U.S. Postal Service for a new retail-return service in which consumers can send returns by UPS via their own mailboxes.
February 10, 2009GovernmentBusiness
Senate Approves $838 Billion Stimulus
The Senate approved Tuesday the $838 billion economic stimulus bill proposed by President Obama, the Associated Press reported.
February 10, 2009Business
GM Announces New Job, Salary Cuts
General Motors Corp. said Tuesday it would cut 10,000 jobs, or about 14% of its worldwide workforce, by the end of the year as part of its plan to show that it is a viable company.
February 10, 2009