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Covenant Says 2nd Qtr. Earnings Will Exceed Analysts' Estimates

Covenant Transport, Chattanooga, Tenn., said it expects to report second quarter profits above analysts' estimates. It is the third trucking company in the past week to project better than expected earnings.

June 18, 1999

Asche Unit to Eliminate Debt With Advance Payment

In an unusual financing transaction, Asche Transportation Services, Shannon, Ill., said its waste hauling unit, Specialty Transportation Services, will pay off $8 million in subordinated debt with an advance payment from one of its customers.

June 17, 1999

Delayed Ohio Turnpike Work Creates Rest Area Jams

Chronic construction on the Ohio Turnpike is creating long lines at rest stops for trucks and passenger vehicles alike, and delays in the roadwork mean no relief anytime soon.

June 17, 1999

N.J. Troopers Find More Violators at Higher Speed

Drivers are doing just a little too much when it comes to speeding on certain stretches of New Jersey highways. State Police records show that in the last year, since the speed limit was increased to 65 mph on certain roads in the state, troopers wrote the most tickets to drivers traveling between 10 and 19 mph above the 65-mph limit.

June 17, 1999

Trucking Veteran Makes Hiner His First Acquisition

Trucking industry veteran Paul James has purchased Hiner Transport of Huntington, Ind., from company founders ºÚÁϳԹÏÍør and Marge Hiner for an undisclosed amount.

June 17, 1999

Ryder System Picks Rail Executive as New President

Ryder System named Gregory T. Swienton, a former executive of Burlington Northern Santa Fe, to be president and chief operating officer of the Miami-based transportation management company.

June 16, 1999

Police Kill Suspected Cargo Thief

Undercover police in Miami stopped an alleged truck hijacking by killing a suspect and arresting two men believed to be his accomplices.

June 16, 1999

Cass Logistics Formula Flaw Inflates Deregulation Savings

Figures on logistics costs, widely followed by transportation professionals and trucking analysts on Wall Street, turn out to be wrong because of a missing factor in the formula, acknowledges the author of those numbers.

June 16, 1999

Former NationsWay Workers Head to Court Over Wages

Fifty-five NationsWay Transport Service employees, laid off by the carrier's bankruptcy closure, have sued the company's management to recover lost wages other reimbursements they claim are owed to them.

June 16, 1999