Truckload and less-than-truckload carrier Jevic Transportation said Monday it is discontinuing operations, due to soaring fuel costs and a weak economy.
May 19, 2008GovernmentBusinessSafetyFuel
EPA Reversed Position on California Emissions Request, Papers Show
Environmental Protection Agency Administrator Stephen Johnson backed letting California set auto emissions rules stricter than federal standards before consulting with the White House, according to a congressional panel, Bloomberg reported Monday.
May 19, 2008FuelBusinessLogisticsGovernment
Editorial: A Fueling Alternative
Retail fuel prices skyrocketed again last week, with diesel jumping 18.2 cents a gallon to a national average of $4.331, the biggest one-week increase since October 2005 and more than 15 cents more than the last record.
May 19, 2008Business
Group Bids $12.8 Billion for Pennsylvania Turnpike Lease
A team of private interests Monday submitted the highest bid of $12.8 billion to lease the Pennsylvania Turnpike for 75 years, the Associated Press reported.
May 19, 2008Business
Wright Express’ CEO Appointed Chairman
Wright Express Corp. said Monday that Chief Executive Officer Michael Dubyak will assume the role of chairman.
May 19, 2008GovernmentBusiness
Leading Economic Indicators Improve for Second Straight Month
An index of leading economic indicators improved last month, the second straight increase, the New York-based Conference Board said Monday.
May 19, 2008BusinessGovernmentEquipment
Continental Boosting Truck Tire Prices
Continental Tire North America said it will boost prices up to 8% on all Continental and General Tire Brand truck tires in North America, effective Aug. 1.
May 19, 2008BusinessSafetyEquipment
GM, American Axle Reach Tentative Contract
Several General Motors Corp. plants idled by an 11-week strike at supplier American Axle & Manufacturing Holdings are set to begin operations soon, following a tentative settlement to the work stoppage, the Wall Street Journal reported Monday.
May 19, 2008BusinessLogisticsGovernment
Gas Prices Soar 17¢ to $3.79 a Gallon
Gasoline prices soared 17 cents in the past two weeks to a national average of $3.79 a gallon, according to the latest Lundberg Survey of filling stations released Sunday.
May 19, 2008BusinessGovernment
Pressure on Truckload Carrier Profits to Continue
Truckload carriers should expect to face intense pricing pressure this spring after a first-quarter performance characterized by stagnant rates and deteriorating operating ratios.
May 19, 2008