Transportation 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.
DOD Agrees to PowerTrack Test
The Defense Department has agreed to conduct a test of the PowerTrack payment program to study its economic impact on freight carriers. PowerTrack is an electronic payment system that DOD plans to use it to pay contract carriers for the Army and Air Force, among others. The new procedure has raised concern among some carriers because it would raise costs.
July 1, 1999C.H. Robinson to Buy Vertex Assets
C.H. Robinson Worldwide plans to acquire some of the assets and certain liabilities of freight forwarder Vertex Transportation, a unit of Country Wide Transport Services of Rochester, N.Y. C.H. Robinson of Minneapolis will pay between $6.5 million and $7 million above the net book value of the assets being acquired and liabilities assumed, company officials said.
July 1, 1999URS Seeks New Chief Executive
Eight days after obtaining an expanded line of credit, United Road Services of Albany, N.Y., said it will search for a new chief executive 鈥渨ho will build, manage and lead this company into its next stage of development.鈥 Edward T. Sheehan, a former executive at United Waste System, stepped down as chairman and chief executive officer, although he will continue to serve on the board of directors.
July 1, 1999Mexican Trucks Found Deep In U.S.
Mexican motor carriers have been found operating illegally in 28 U.S. states 鈥 far beyond the narrow border zones to which they are restricted, according to the Department of Transportation鈥檚 inspector general, Kenneth Mead. His finding was made public at a June 24 Capitol Hill press conference by Reps. Jim Oberstar (D-Minn.), Rep. Jack Quinn (R-N.Y.) and Teamsters President James P. Hoffa, who jointly called for an investigation of the extent of the problem.
June 30, 1999Supreme Court Rejects ADA Suits
The U.S. Supreme Court handed down two victories for trucking company management last week, placing strict limits on who can sue their employers under the Americans With Disabilities Act. In the case most crucial to the industry, the court ruled unanimously that a truck driver who is nearly blind in one eye cannot sue his employer for discrimination, after the grocery store chain fired him because of his disability.
June 30, 1999Nine States Form Emissions Test Bloc
Nine northeastern states have banded together to get tough on trucks that pollute the air. Connecticut, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont agreed to begin roadside smoke testing and ticketing trucks and buses that are in violation by July 1, 2001.
June 30, 1999Terminal Properties Attract Investors
Investors may be shunning trucking stocks, but a small but growing number of firms think there is money to be made in owning truck terminals. Long viewed as a financial backwater, freight terminals are being touted as good long-term investments and a way for trucking companies to free up money to invest in other parts of their business.
June 30, 1999Diesel Prices On Upswing Again
In a continuation of the yo-yo-like gyrations that many analysts said were over, the national average price of diesel fuel has risen 2.3 cents a gallon over the past two weeks, after dropping 2.4 cents over the previous four weeks. On June 21, the price stood at $1.082 a gallon, 1.4 cents above the previous week鈥檚 level of $1.068 and 0.1 cent below the level on May 10, according to the Department of Energy.
June 30, 1999Intermodals Pinched By Conrail Woes
Spokesmen for two of the nation鈥檚 major railroads 鈥 Norfolk Southern and CSX 鈥 conceded that their service has "just not been good enough" in the wake of their split-up of Conrail. However, both companies insist things were improving. But some intermodal trucking companies suffered along with the two railroads, as shippers turned to over-the-road truckers.
June 30, 1999Slater: DOT, Trucking Must Cooperate
Transportation Secretary Rodney Slater declared his commitment to working with American Trucking Associations to reduce truck-related fatalities, despite criticism from safety groups. "While some have criticized the department for working in partnership with ATA, I do not apologize for that," Slater said in a June 18 speech to the group鈥檚 board of directors.
June 30, 1999Trending
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