YRC Worldwide’s Teamsters-union employees voted by a 3-1 margin to accept concessions including a 10% pay cut in exchange for a 15% stake in the company, the two said late Thursday.
January 9, 2009Business
Oil Closes Week Under $41 a Barrel
Oil closed the week under $41 a barrel as U.S. unemployment figures released Friday caused concern on future demand, Bloomberg reported.
January 9, 2009Business
Freightliner Cutting Production at N.C. Truck Plants
Freightliner Trucks will sharply reduce truck production and work forces at two North Carolina truck plants, the Charlotte Observer reported Friday.
January 9, 2009GovernmentBusinessSafety
Flooded Stretch of I-5 in Washington State to Reopen Friday
The Washington state Department of Transportation plans to reopen a 20-mile stretch of Interstate 5 Friday afternoon near Chehalis, Wash., that was closed for two days due to heavy flooding, the Associated Press reported.
January 9, 2009BusinessSafety
Rail, Intermodal Traffic Fall for Week
Rail and intermodal traffic fell for the week ended Jan. 3 from a year ago, the Association of American Railroads said.
January 9, 2009Business
Unemployment Rate Jumps to 16-Year High of 7.2%
The U.S. unemployment rate jumped to 7.2% in December, a 16-year high, from 6.5% in November, the Labor Department said Friday.
January 9, 2009Business
Editorial: An Interesting New Year
Having passed through one of the toughest, most volatile economic years that trucking has experienced could make one antsy about the future. We may look ahead with deep trepidation, or we can greet the journey as a thrilling adventure.
January 8, 2009Business
Wal-Mart Cuts Earnings Forecast
Wal-Mart Stores slashed its earnings forecasts after the worst holiday-shopping season in 40 years squeezed retail profit margins, Bloomberg reported Thursday.
January 8, 2009BusinessSafetyGovernment
NAFTA Surface Trade Falls 2.1% in October
Surface trade among the United States, Canada and Mexico fell 2.1% in October from a year earlier, the Department of Transportation said Thursday.
January 8, 2009Business
Jobless Claims Fall For Week
Initial jobless claims fell last week by 24,000 claims, to 467,000 for the week ended Saturday, the Labor Department said Thursday.
January 8, 2009