XPO Logistics posted its first full-year profit with Bradley Jacobs at the helm of the organization and also was profitable in the final quarter owing to strength in the less-than- truckload division.
February 27, 2017Search
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ATA Voices Support for New NACV Show
American Trucking Associations will be a supporter of the new North American Commercial Vehicle Show that debuts in Atlanta on Sept. 25-29.
February 27, 2017CSX Shakeup: CEO to Retire, 1,000 Managers to Be Laid Off
CSX Corp. CEO Michael Ward and President Clarence Gooden will retire May 31, and the company will lay off 1,000 managers by the end of March as it decides whether to hire former Canadian Pacific Railway CEO E. Hunter Harrison to take the reins at the Class I railroad.
February 27, 2017Dry Van Demand Sends Trailer Orders Surging
U.S. net trailer orders in January shot up 92% year-over-year to almost 33,000 as dry van demand surged ahead, much as it has since November, ACT Research Co. said.
February 23, 2017Expeditors' Volumes Rise as Rates Hinder Profits
Fourth-quarter business boomed, but profits dipped at freight forwarder Expeditors International as roller-coaster pricing made management difficult, the Seattle-based firm said in its Feb. 21 earnings statement.
February 21, 2017CEO of CSX to Retire as Hunter Harrison Negotiations Continue
The shakeup at CSX Corp. took another twist Feb. 21 when current CEO Michael Ward and President Clarence Gooden announced they're leaving the railroad at the end of May, another wrinkle that could affect the push from private investor Paul Hilal to install former Canadian Pacific CEO Hunter Harrison as CSX’s top executive. The company also announced 1,000 layoffs.
February 21, 2017XPO Logistics Notches First Full-Year Profit Since 2011
XPO Logistics posted its first full-year profit of the Brad Jacobs era, with net income of $63.1 million, or 53 cents a share, compared with a $245.9 million loss in 2015, or $2.65, the company said Feb. 21.
February 22, 2017CSX Shareholders Seen Likely to Make Harrison a $300 Million Man
CSX Corp. shareholders are likely to approve turnaround veteran Hunter Harrison’s demand for a $300 million pay package that the railroad derided as “exceptionally unusual,†according to analysts.
February 17, 2017Opinion: Does the $75,000 Broker Bond Make Sense?
Brokers, freight forwarders and nonvessel operating common carriers, or NVOCC, are required by federal law to carry a surety bond in the event they fail to pay the carrier that performs the move on the shipments they broker. On Dec. 1, 2013, the $75,000 broker bond went into effect — up from the previous bond requirement of $10,000.
February 20, 2017Editorial: Young Minds, New Roads
Coming soon to a theater near you: How to build roads and bridges. The American Society of Civil Engineers last week screened a documentary titled, “Dream Big: Engineering Our World,†which spotlights efforts to encourage young people to pursue careers in engineering. Included in that mix are bridge and road design, fields that — if recent data are any indication — will require expertise for years to come.
February 20, 2017