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A private equity fund partnership has completed $37 million of investment in same-day courier United Shipping & Technology, the holding company that owns Velocity Express.

In the news this morning: U.S. diesel prices drop after setting all-time high; House-Senate panel to meet on transport bill, driver hours; Hub Group foresees lower 3Q, 4Q earnings; and more to come.

House-Senate conferees on the Transportation Appropriations Committee agreed Tuesday morning to prohibit the Federal Motor Carrier Safety Administration from implementing its controversial hours of service rules during the 2001 budget year.

This afternoon's headlines: OPEC may boost output in October; U.S. rail agency proposes tougher merger rules; ArvinMeritor names Gosnell to head commercial vehicle systems; and more.

Today's technology headlines: Ericsson starts plan for 4G cellular technology; GEO lands Lucent video services deal; Nistevo trumpets results of study on collaborative logistics; and more.

Executives from trucking companies large and small offered detailed accounts to federal officials last week of the costs their companies would incur if the proposed hours-of-service regulations took effect.

The Safety Management Council will debate integrating the responsibility for cargo claims and cargo security issues into its safety mandate during SMC’s annual meeting, continuing through Oct. 4 in St. Louis.

California port truckers last week staged work stoppages and rallies in Oakland and Long Beach with the help of the Teamsters Union to protest long working hours, poor wages and high fuel costs.

In the news this morning: Paccar reportedly makes bid for Navistar; trucker protests flare in Spain, Luxembourg, Yugoslavia; Norfolk Southern warns on earnings; and more to come.