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Profits Jump at Largest Railroads Despite Drop in Freight Traffic
North America’s five biggest railroads flexed their pricing muscles to earn $2.85 billion in the third quarter, raising revenue per shipment 20% despite lower freight traffic.
October 27, 2008Justice Department Backs ATA in Effort to Block Ports’ Plans
The U.S. Department of Justice last week backed American Trucking Associations’ attempt to block concession requirements included in the clean-trucks plans adopted by the Ports of Los Angeles and Long Beach, Calif.
October 27, 2008LTL Earnings Sag in 3Q; Carriers See Weaker Demand
Publicly traded less-than-truckload carriers generally posted lower earnings in the third quarter, with several fleets warning that freight volumes would get worse as the fourth quarter unfolds.
October 27, 2008Intermodal Traffic Declines for Week
Rail and intermodal traffic declined last week compared with the same week a year ago, the Association of American Railroads said.
October 24, 2008Letters to the Editor: Beyond Duty’s Call, Dear Mr. President
I am sending this in reference to one of my drivers, Phil Glover. A few days after Hurricane Gustav hit Louisiana, we were lucky enough to lease him. We were affected by that hurricane and suffered damage to our terminal. We put him to work right away moving generators around for Entech out of Garland, Texas.
October 21, 2008View of Safety Technology Must Change Before Use Grows, Fleet Executives Say
NEW ORLEANS — Fleet executives said that despite the benefits of using safety technology, attitudes within the industry need to change in order to have wider acceptance.
October 22, 2008Jobless Claims Rise for Week
Initial jobless claims rose by 15,000 last week, while continuing claims fell, the Labor Department said Thursday.
October 23, 2008Daimler Reports Higher 3Q Earnings; Cuts ’08 Forecast
Daimler AG said Thursday its third-quarter income improved from a year ago and that its truck unit was its only division to show an improvement in earnings, though it cut its full-year earnings forecast by 1 billion euros ($1.3 billion), Bloomberg reported.
October 23, 2008FedEx Says IRS Withdrew Penalty on Worker Classification
FedEx Corp. said the IRS has withdrawn tentative taxes and penalties of more than $319 million stemming from whether the company incorrectly classified employees as independent contractors, the Associated Press reported.
October 23, 2008ODFL’s Third-Quarter Income Improves
Old Dominion Freight Line said its third-quarter net income rose 16.7% to $23.4 million, or 63 cents a share, from $20 million, or 54 cents, a year ago.
October 23, 2008