Two days after closing at below $80 for the first time in more than a week, oil futures crept past $81 a barrel on concerns a tropical depression could affect Gulf of Mexico oil production, Bloomberg reported.
September 27, 2007BusinessLogistics
CN Buys Midwest Rail Line
Canadian National Railway Co. has agreed to buy most of the Elgin, Joliet & Eastern Railway Co. from U.S. Steel Corp. for $300 million to add capacity and bypass Chicago-area congestion, Bloomberg reported.
September 27, 2007BusinessGovernment
New 91视频 Sales Fall Again
New home sales plunged 8.3% in August, the Commerce Department said Thursday.
September 27, 2007Business
Jobless Claims Fall to Four-Month Low
Initial jobless claims fell to a four-month low last week, the Labor Department said Thursday.
September 27, 2007BusinessSafety
ATA Names UPS Freight鈥檚 William Gray Driver of Year
William Gray Jr., a Cumberland, Md.-based road driver for less-than-truckload UPS Freight, has been named the American Trucking Associations 2007 Truck Driver of the Year, ATA said.
September 26, 2007BusinessSafetyTechnologyEquipment
Melton to Make Iteris鈥 System Standard
Iteris Inc., which makes safety systems for trucks, said Wednesday that flatbed carrier Melton Truck Lines will make Iteris鈥 lane departure warning systems standard equipment on about 1,000 new trucks over the next three years.
September 26, 2007Business
Oakland Port May See Backlog
The Port of Oakland could see a backlog of up to a week following the death of a dockworker killed on the job, news reports said Wednesday.
September 26, 2007BusinessLogistics
GM, UAW Reach Accord to End Strike
The United Auto Workers and General Motors Corp. reached a tentative contract early Wednesday to end the union鈥檚 two-day national strike, the Associated Press reported.
September 26, 2007BusinessGovernment
U.S. Xpress 鈥楴eutral鈥 on Buyout Offer
U.S. Xpress Enterprises said Wednesday today that its board 鈥渋s expressing no opinion and is remaining neutral鈥 about an acquisition offer to take the truckload carrier private for $20.10 a share.
September 26, 2007BusinessSafetyGovernment
FMCSA Fails to Issue Maximum Fines For High-Risk Carriers, GAO Says
The Federal Motor Carrier Safety Administration is doing a good job of targeting carriers that pose the highest risk of accidents, but fails to follow a 1999 law requiring that maximum fines be given to the most serious safety violators, a new government report said.
September 26, 2007