News Briefs - Nov. 30
The Latest Headlines:
- Manufacturing in Chicago Area Expands at Slower Pace
- Kentucky Judge Defers Decision on Overweight Trucks
- Snow Falls on Central United States
- XRG's Board Approves Reverse Stock Split
- Saudi Arabia to Add Output Capacity
- Kentucky Judge Defers Decision on Overweight Trucks
Manufacturing in Chicago Area Expands at Slower Pace
The National Association of Purchasing Management-Chicago said Tuesday its regional manufacturing index declined to 65.2 in November from a 16-year high of 68.5 in October.Readings higher than 50 indicate growth. November is the 19th month of uninterrupted expansion. The manufacturing sector is one of trucking's largest and most important customers.
The Chicago index of new orders dropped this month to 70 from a two-decade high of 79.4 in October. The employment index rose to 60.8, the highest since August 1988, from 54.1.
Kentucky Judge Defers Decision on Overweight Trucks
A judge in Kentucky is allowing the state's General Assembly to have first chance at deciding whether other trucks should be allowed to haul as much weight as coal trucks on highways, the Associated Press reported.Last week, Pike County Circuit Judge Eddy Coleman deferred ruling on a request to stop officials from enforcing a 40-ton weight limit on trucks hauling gravel and sand.
The issue was raised by a trucker who claimed the state's weight limits unconstitutionally favor coal haulers, who can transport loads more than 20 tons heavier, AP said.
Meanwhile, state Rep. Howard Cornett was sponsoring a bill that would allow all trucks carrying natural resources to carry up to 63 tons, AP reported. Transport Topics
Snow Falls on Central United States
The National Weather Service issued a snow advisory for the Kansas City area for Tuesday afternoon and night, while other areas of the central United States have already started digging out from a storm, news services reported.Up to 13 inches of snow fell in 24 hours in the mountains of north-central New Mexico, following a weekend in which as much as 3 feet fell at higher elevations of Colorado, the Associated Press reported.
On the Plains, up to a foot of snow fell on western Nebraska, and 4 inches or more fell during the morning in parts of Kansas.
Lesser amounts of snow were reported in the Texas and Oklahoma panhandles, Iowa and northern Missouri. Transport Topics
XRG's Board Approves Reverse Stock Split
Truckload holding company XRG Inc. said its board of directors authorized a reverse stock split of its common stock in a ratio of one-for-twenty.XRG said in a statement the split affects all issued and outstanding common shares, stock options and warrants of the company.
The company said it expected to have about 16.45 million shares of common stock outstanding after the split. Transport Topics
Saudi Arabia to Add Output Capacity
Saudi Arabia has confirmed plans to boost crude oil production capacity by as much as 14%, to 12.5 million barrels a day, during the next few years, the Wall Street Journal reported Tuesday.An oil official said Saudi Arabia has raised production to 9.5 million barrels a day, up one million barrels from earlier this year, and its total oil-pumping capacity to about 11 million barrels a day from 10.5 million in early 2004.
In addition to plans for boosting capacity to 12.5 million barrels a day, he said Saudi Arabia also was studying longer-term plans for capacity increases to about 15 million barrels a day, the Journal said. Transport Topics
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