Oil fell below $90 in early trading Monday on speculation that spreading financial turmoil will cut demand, and on the gains of the U.S. dollar versus the euro, the Associated Press reported.
October 6, 2008Trucking 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.
Qualcomm Offers In-Cab Scanning
Qualcomm Inc. added an in-cab scanning service to its mobile computing system, and launched a new reporting module designed to help carriers monitor how much fuel their drivers are burning, the company said last week.
October 6, 2008Goldman Sachs Buys Stake in American Traffic Solutions
Goldman Sachs, which recently announced that it will convert into a federally regulated bank holding company, has purchased a minority stake in closely held American Traffic Solutions, a Scottsdale, Ariz., provider of electronic toll payment and video-based traffic enforcement systems.
October 6, 2008Ryder to Acquire Canadian Firms with Chinese Operations
Ryder System said it will acquire Transpacific Container Terminal Ltd. and CRSA Logistics Ltd., as well as CRSA’s operations in Hong Kong and Shanghai, China.
October 6, 2008Saia Reduces Workforce by 5%
Saia Inc. has reduced its workforce by 5% because of a decline in shipping demand, Bloomberg reported.
October 6, 2008Delphi Amends Bankruptcy Plan to Recover 39% of Value
Auto parts maker Delphi Corp. unveiled a new reorganization plan, telling unsecured creditors they now will recover 39%, compared with a 100% recovery under the original plan, Bloomberg reported Monday.
October 6, 2008Trucking Industry Gathers in Crescent City as Global Financial Crisis Deepens
Trucking industry leaders gathering in New Orleans this week at American Trucking Associations’ annual Management Conference & Exhibition will hear from experts on topics including the current financial turmoil, the upcoming elections, and preparations for next year’s highway bill and the 2010 engine emissions rules.
October 6, 2008Ports ‘Soft Launch’ Truck Plan with O-O Ban Still Unsettled
The California ports of Los Angeles and Long Beach formally launched their clean-trucks programs last week without any apparent major glitches, although activity at some terminals was initially reported to be lighter than usual, with fewer trucks showing up at the gates.
October 6, 2008Investors Drop Pa. Turnpike Bid, Citing Opposition, Market Woes
The investment group that sought to lease the Pennsylvania Turnpike has withdrawn its bid, citing political opposition and uncertain financial markets, and leaving the state without a solution to its infrastructure funding problems.
October 6, 2008Diesel Price Decline Pauses
The average price of retail diesel fuel rose 0.1 cent last week to $3.959, following 10 straight weeks of declines, according to the De-partment of Energy.
October 6, 2008Trending
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