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Kenan Transport Co. and Advantage Management Group announced Friday that they have entered into an agreement under which Advantage will acquire Kenan, a tank trucker specializing in hauling petroleum products, in a deal worth $84 million.

In the news: Cummins 4Q loss exceeds expectations; Yellow reports gains for 4Q; Consolidated reports narrower 4Q loss from '99; and more...

Adding Pictures is Next Challenge for Cell Phones; Complexity Deepens Among Rail Dot-coms; Ericsson to Outsource Cell Phone Production; FedEx Deploys Simple Text Messaging in Europe; Possible Bandwidth Shortage Lurks as Applications Sprea.

Logistics software provider ShipChem nets leading chemical exchanges; SynQuest partners with G-Log; Senators review high-speed Internet tax credit bill; and NextNet testing wireless broadband for the desktop.

The Department of Transportation has set meetings on Feb. 21 and 22 on changes in drug and alcohol testing rules that affect truck drivers.

Former Teamsters President Ron Carey was indicted Thursday, charged with lying during investigations into fund-raising activities for his 1996 union re-election bid, news agencies reported.

In the news: Xtra reports lower 1Q; USFreightways’ 4Q earnings slide; Covenant reports weaker 4Q, cautions about 2001; and more.

Federal Reserve Chairman Alan Greenspan said U.S. economic growth is near zero, something many trucking companies have already been seeing in freight shipments.

Labor Secretary-nominee Elaine Chao, in her confirmation hearing Wednesday before a Senate committee, reportedly declined to commit herself to the broad-ranging and controversial workplace safety or ergonomics standards issued by the outgoing Clinton administration.

The wave of mergers sweeping through trucking came to the industry’s leasing sector Jan. 15, when No. 2 Penske Truck Leasing announced it will buy No. 3 Rollins Truck Leasing in a $2 billion deal that threatens Ryder System’s position as the nation’s largest full-service leasing company.