YRC Worldwide鈥檚 Teamsters-union employees voted by a 3-1 margin to accept concessions including a 10% pay cut in exchange for a 15% stake in the company, the two said late Thursday.
January 9, 2009Trucking Business News
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
EPA Warns of Possible Dioxins In Cummins鈥 2010 SCR System
The Environmental Protection Agency said it is concerned that emissions systems using a copper compound that engine maker Cummins Inc. will use in 2010 models could generate 鈥渓ikely human carcinogen鈥 dioxins, in which case it would 鈥渓ikely not certify鈥 the systems.
January 12, 2009Teamsters Ratify YRC Wage Cut
The Teamsters union said employees at YRC Worldwide Inc. have approved a landmark 10% wage cut to help reduce costs as the largest less-than-truckload carrier struggles with falling tonnage in a weak economy.
January 12, 2009Diesel Price Dips for 14th Straight Week, but Gasoline Rises
The U.S. retail diesel average declined 3.6 cents to $2.291 a gallon last week, the 14th consecutive drop, but analysts warned that fleets鈥 fuel costs are poised to start rising again.
January 12, 2009Oil Closes Week Under $41 a Barrel
Oil closed the week under $41 a barrel as U.S. unemployment figures released Friday caused concern on future demand, Bloomberg reported.
January 9, 2009Freightliner Cutting Production at N.C. Truck Plants
Freightliner Trucks will sharply聽reduce truck production and work forces at two North Carolina truck plants, the Charlotte Observer reported Friday.
January 9, 2009Flooded Stretch of I-5 in Washington State to Reopen Friday
The Washington state Department of Transportation plans to reopen a 20-mile stretch of Interstate 5 Friday afternoon near Chehalis, Wash., that was closed for two days due to heavy flooding, the Associated Press reported.
January 9, 2009Rail, Intermodal Traffic Fall for Week
Rail and intermodal traffic fell for the week ended Jan. 3 from a year ago, the Association of American Railroads said.
January 9, 2009Unemployment Rate Jumps to 16-Year High of 7.2%
The U.S. unemployment rate jumped to 7.2% in December, a 16-year high, from 6.5% in November, the Labor Department said Friday.
January 9, 2009Editorial: An Interesting New Year
Having passed through one of the toughest, most volatile economic years that trucking has experienced could make one antsy about the future. We may look ahead with deep trepidation, or we can greet the journey as a thrilling adventure.
January 8, 2009Trending
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