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Declaring the current system irrevocably “broken,” Transportation Secretary Mary Peters unveiled the Bush administration’s final major surface transportation policy initiative — a reform of the highway program that includes unlimited tolling and an increased emphasis on private capital.

The U.S. economy grew at a 1.9% annual rate in the second quarter, the Commerce Department said Thursday.

Bridgestone Firestone North American Tire said Thursday that it will raise prices by up to 10% on all of its truck, bus, pickup and passenger tires because of higher raw materials costs and persistently high fuel prices.

Goodyear Tire & Rubber Co.’s second-quarter profit rose to $75 million, or 31 cents a share, from $56 million, or 26 cents, in 2007 as stronger international sales offset a slip in the North American market, the company said Thursday.

The U.S. Coast Guard has begun setting dates when truckers and others who enter ports in ports must have the government-issued Transportation Worker Identification Credential, or TWIC, that is meant to prevent terror attacks on the docks.

Trailer manufacturer Wabash National Corp. reported a net loss of $3.2 million, or 11 cents a share, for the second quarter of 2008, down from earnings of $5.9 million, or 18 cents, a year ago.

Senate Republicans voted Wednesday to continue debate on a measure that would have bolstered the Highway Trust Fund, effectively killing the bill.

Part of Iowa Highway 1 that had been severely damaged by heavy flooding last month has reopened, the state's transportation department said Wednesday.