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Bush Nominates Portman to Head OMB

President Bush Tuesday nominated U.S. Trade Representative Rob Portman to be the new White House budget director, the Associated Press reported.

April 18, 2006

New Housing Starts Drop 7.8% in March

U.S. new housing starts fell 7.8% in March to the lowest level in a year, the Commerce Department reported Tuesday.

April 18, 2006

Heartland Express Reports Higher First-Quarter Profit

Truckload carrier Heartland Express said Monday that its first-quarter profit rose to $19.7 million or 27 cents a share, from $15.1 million or 20 cents in the previous first quarter.

April 18, 2006

Producer Price Index Climbs in March

The producer price index rose 0.5% in March, the Labor Department said Tuesday.

April 18, 2006

Supervalu’s Fourth-Quarter Earnings Drop

Grocery chain Supervalu Inc.’s net income dropped more than 93% for its fourth quarter ended Feb. 25 to $6 million or 4 cents a share, from $92.9 million, or 65 cents a year earlier.

April 18, 2006

Rush Enterprises’ Income Jumps in First Quarter

Rush Enterprises, the nation’s largest dealer of Peterbilt trucks, said late Tuesday its first-quarter net income jumped to $11.6 million or 46 cents a share, from $7.7 million or 31 cents a year earlier.

April 18, 2006

Oil Tops $71 a Barrel; Sets Second Record in Two Days

Crude oil futures hit a new record closing price Tuesday of $71.35 a barrel on the New York Mercantile Exchange, Bloomberg reported.

April 18, 2006

Fed Minutes Show Interest Hikes May be Nearing End

The Federal Reserve said the end of their interest-rate hikes “was likely to be near,” while citing the need to keep guard against inflation, according to the minutes of the Federal Open Market Committee’s March 27-28 meeting, released Tuesday.

April 18, 2006

Carriers Must Separate Diesel by Sulfur Content, EPA Says

Beginning June 1, trucking companies that use in-house central refueling facilities will be required to label their diesel pumps as either ultra-low-sulfur diesel or low-sulfur diesel, said the Environmental Protection Agency.

April 17, 2006

J.B. Hunt Reports Record First-Quarter Income

Truckload carrier J.B. Hunt Transport Services earned a record $49 million or 31 cents a share, up from $47 million or 29 cents a year ago.

April 17, 2006