Credit rating agency Standard & Poor’s on Thursday lowered YRC Worldwide’s corporate credit rating to “BB” from “BB+,” and said that the carrier’s slumping earnings could hurt its ability to fulfill credit obligations if the current softness in the trucking industry persists.
February 21, 2008BusinessFuelLogisticsGovernment
Fuel Jumps 11.6¢ to $3.396
U.S. retail diesel prices soared 11.6 cents last week to a national average of $3.396 a gallon, the highest level since early December, the Department of Energy reported.
February 25, 2008GovernmentBusinessSafety
TSA Expands TWIC Driver Identification Program; Security Plan Will Encompass 147 U.S. Ports
Two years after it was first announced, the federal government has begun a full rollout of its plan to provide high-tech, secure identification for workers in and around America’s ports.
February 25, 2008GovernmentBusiness
Universal Truckload's 4Q Earnings Slip
Universal Truckload Services, Warren, Mich., said it earned about $4.8 million, or 30 cents a share in the fourth quarter of 2007, down from $5.3 million, or 33 cents, in the previous quarter.
February 22, 2008BusinessSafetyGovernment
Connecticut Adds ‘Truck Escape Ramp’ to Route 44
Connecticut transportation officials announced the completion of a “truck escape ramp” on Route 44.
February 22, 2008BusinessSafetyGovernmentFuel
Knight Puts 1,000th 2007 Tractor Into Service
Truckload carrier Knight Transportation said it has taken delivery of its 1,000 tractor certified to the Environmental Protection Agency’s 2007 emission standards.
February 21, 2008Business
Fed Minutes Reveal ‘Significant’ Risk of Downturn
Federal Reserve officials said during their Jan. 29-30 meeting that lower interest rates may be needed for some time in order to stave off the affects of a faltering U.S. economy, Bloomberg News reported.
February 21, 2008GovernmentBusiness
Leading Indicators Fall for Fourth Consecutive Month
The index of leading economic indicators January fell for the fourth consecutive month, driven down by deterioration in the stock and housing markets, the New York-based Conference Board said Thursday.
February 21, 2008BusinessGovernment
Philadelphia Factory Index Plummets
Manufacturing levels in the Philadelphia region this month fell by the most since February 2001, the Federal Reserve Bank of Philadelphia said Thursday.
February 21, 2008BusinessGovernmentFuel
Long Beach Port Officials Approve Emissions Plan
Officials with California’s Port of Long Beach have approved a plan aimed at reducing truck emissions at the port, in spite of objections from drivers, public health advocates, and environmentalists, the Los Angeles Times reported Wednesday.
February 21, 2008