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, 2008Search
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Class 8 Fleet Growth Stalls As Carriers Delay Purchases
Growth of the U.S. heavy-duty truck fleet decelerated in the fourth quarter, as freight carriers, led by large fleets, continued to put off buying new equipment in the face of a possible recession, according to truck registration data from market research firm R.L. Polk & Co.
February 25, 2008Universal 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, 2008Initial Claims Fall by 9,000 for Week
Initial jobless claims fell by 9,000 for the week ended Saturday, the Labor Department said Thursday.
February 21, 2008Leading 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, 2008Philadelphia 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, 2008Contrans to Consolidate Some Van, Flatbed Operations
Canadian transportation firm Contrans Income Fund said it plans to consolidate certain operations of its dry van and flatbed businesses in eastern Canada.
February 20, 2008S&P Slashes YRCs Credit Rating
Credit rating agency Standard & Poors on Thursday lowered YRC Worldwides corporate credit rating to BB from BB+, and said that the carriers slumping earnings could hurt its ability to fulfill credit obligations if the current softness in the trucking industry persists.
February 21, 2008Knight 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 Agencys 2007 emission standards.
February 21, 2008January CPI Rises 0.4%
The consumer price index rose 0.4% in January, matching an increase in December that was larger than originally reported, the Labor Department said Wednesday.
February 20, 2008