A day after rising more than $3, oil prices fell back by about $2 to below $44 a barrel after China downplayed speculation its government would increase a stimulus plan to help its economy, Bloomberg reported.
March 5, 2009BusinessGovernmentSafety
Fleets Turn to Payment Services as Cash Tightens, But Financial Executives Warn of Possible Pitfalls
As cash flow becomes tighter for many fleets, more are turning to financial services that pay invoices almost instantly. Trucking and financial executives said that while the service known as factoring can be beneficial, once a fleet gets started, it can be hard to stop. As a result, they recommend carriers understand the full scope of services offered and costs involved.
March 9, 2009GovernmentBusinessLogistics
Dynamex Reports Lower 2Q Income
Logistics and delivery firm Dynamex Inc.s fiscal second-quarter profit fell to $2.3 million, or 24 cents a share, from $3.4 million, or 33 cents, a year ago.
March 5, 2009Government
Factory Orders Decline 1.9% in January
U.S. factory orders fell for a sixth straight month in January, declining 1.9%, the Commerce Department said Thursday.
March 5, 2009GovernmentBusinessSafety
Fourth-Quarter Productivity Falls
Fourth-quarter U.S. worker productivity fell at a 0.4% annual rate, the Labor Department said Thursday.
March 5, 2009GovernmentBusiness
Daimler Dedicates Freightliner Plant in Mexico
SALTILLO, Mexico Daimler Trucks dedicated its $300 million Freightliner plant here Feb. 27, as Mexican President Felipe Calderon joined company officials to formally launch the 1.3 million-square-foot facility.
March 4, 2009Government
Oil Rises Past $45 a Barrel
Oil jumped almost $4 Wednesday to more than $45 a barrel, on signs that OPEC may reduce its output and China may take steps to improve its economic output, Bloomberg reported.
March 4, 2009BusinessSafetyGovernment
ISM Services Index Continues Contraction
The U.S. economys service sector contracted in February, at a faster pace than the previous month, the Institute for Supply Management said Wednesday.
March 4, 2009GovernmentBusinessSafety
U.S. Auto Sales Fall to 27-Year Low
February U.S. automobile sales fell to the lowest rate in more than 27 years, led by a 53% plunge for General Motors Corp., Bloomberg reported.
March 4, 2009Letters to the EditorBusinessSafetyGovernmentFuelEquipment
Letters: APU Market Slump, Fuel Prices, Execs vs. Dealers, E-Logs, Outrageous Terms
Your story on the demise of RigMaster comes as no surprise in a sector of the truck market that has seen a drastic downturn of new business, mostly exacerbated by tightening of credit markets (2-9, p. 4).
March 3, 2009