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Government, Business, Logistics

Union Pacific Reports Strong Q3 Earnings

Union Pacific

As freight volumes surge, Omaha, Neb.-based Union Pacific Railroad reported strong third-quarter results that significantly exceeded the company’s report from this time last year and beat Wall Street analysts’ expectations.

Dan Ronan | Associate News Editor
October 21, 2021
Government, Business, Technology, Fuel, Autonomous

Tesla Concerned About NHTSA’s Safety Pick

Missy Cummings at a Senate Committee on Commerce, Science, and Transportation hearing

Elon Musk and thousands of Tesla Inc.’s die-hard fans and customers are in an uproar about NHTSA’s new pick as its senior safety adviser.

October 21, 2021
Business, Technology, Fuel

Ford’s Maverick Hybrid Pickup Truck Nearly Sold Out for 2022 Model Year

Ford’s Maverick Hybrid Pickup Truck Nearly Sold Out for 2022 Model Year

Ford Motor Co.’s new Maverick tiny truck is nearly sold out for the 2022 model year in its standard setup with a gas-electric hybrid propulsion system.

Keith Naughton | Bloomberg News
October 21, 2021
Business, Top 100

Covenant Reports $274.6 Million in Revenue for Q3 2021

Covenant

Covenant Logistics Group Inc. saw revenue increase to $274.6 million during the third quarter of 2021, the company reported Oct. 20.

Connor D. Wolf | Staff Reporter
October 21, 2021
Business, Logistics

Canadian Pacific Reports Mixed Q3 Earnings

Canadian Pacific train

Canadian Pacific Railway reported mixed third-quarter earnings on Oct. 20, when the Calgary, Alberta-based carrier said combined freight and nonfreight revenue increased 4.3% year-over-year to C$1.94 billion from C$1.86 billion a year ago.

Dan Ronan | Associate News Editor
October 20, 2021
Business

Trucking Industry Now Short 80,000 Drivers

A professional truck driver

The trucking industry is now short at least 80,000 drivers, according to ATA Chief Economist Bob Costello, who on Oct. 20 raised the estimate of drivers needed from 61,500 in his annual findings.

Dan Ronan | Associate News Editor
October 20, 2021
Business, Technology, Fuel, Autonomous

Tesla Hits Record Profit Despite Parts Shortage

A sign bearing the company logo outside a Tesla store in Cherry Creek Mall in Denver

DETROIT — Record electric vehicle sales last summer amid a shortage of computer chips and other materials propelled Tesla Inc. to the biggest quarterly net earnings in its history.

Tom Krisher | Associated Press
October 20, 2021
Business, Technology, TCA

Flock Freight Scores $215 Million for Tech That Finds Available Space on Trucks

Flock Freight illustration

Flock Freight, an Encinitas, Calif., trucking logistics firm that aims to revolutionize the way freight moves across the country, has landed another $215 million in venture capital.

Mike Freeman | The San Diego Union-Tribune
October 20, 2021
Government, Technology, Safety, Autonomous, TCA

Not Everyone in Seattle Is Excited About Autonomous Vehicles Coming

A Zoox Inc. self-driving car sits parked outside the company's headquarters in Foster City, Calif.

An announcement Oct. 18 from Amazon’s self-driving car unit Zoox that it will soon start testing its autonomous vehicles in downtown Seattle drew criticism from transportation safety advocates.

Katherine Anne Long | Seattle Times
October 20, 2021
Business, Technology, Fuel, Autonomous, TCA

Seemingly an Odd Couple, Tesla and Texas Becoming Tightly Intertwined

Elon Musk speaks at the SpaceX launch facility in Cameron County, Texas, in 2019

It seems like an unlikely marriage: Tesla, the world’s biggest electric automaker, moving its headquarters to Texas — where the oil and gas industry is etched in the state’s DNA and where, unless something changes, Tesla isn’t even allowed to sell its vehicles directly to customers.

By Bob Sechler and Kara Carlson | Austin American-Statesman
October 20, 2021
Government, Business, Safety

Senate Commerce Panel Approves FMCSA Nominee

Meera Joshi

WASHINGTON — The nomination of Meera Joshi, President Joe Biden’s pick to lead the Federal Motor Carrier Safety Administration, advanced to the floor of the U.S. Senate on Oct. 20.

Eugene Mulero | Senior Reporter
October 20, 2021
Business

TT Newsmakers

TT Newsmakers

What are the next steps to strengthen the supply chain and how can transportation professionals manage in the midst of disruption? Hear from Jonathan Gold, Vice President for Supply Chain and Customs Policy at the National Retail Foundation. Reserve your seat now for the Nov. 1 program.

October 20, 2021
Business, Equipment

Rental/Lease Trailer Inventory Rises in 2021

New trailers line up at the Stoughton plant in Stoughton, Wis.

A 2021 inventory by WillGo Transportation Consulting puts the number of rental/lease trailers at 6.5% higher than a year earlier, according to a recent survey of certain North American companies in that sector.

Roger Gilroy | Senior Reporter
October 20, 2021
Business, Logistics, Top 100

Strong Segment Growth Drives Knight-Swift Q3 Results

Knight and Swift trucks

Knight-Swift Transportation Holdings reported third-quarter revenue and earnings improvements that were driven by strong segment growth.

Connor D. Wolf | Staff Reporter
October 20, 2021
Business

Marten Reports Record Revenue for Q3

Marten Transport truck

Marten Transport reported record revenue for the third quarter, the company announced Oct. 19.

Connor D. Wolf | Staff Reporter
October 20, 2021
Government, Business, Technology, Equipment, Logistics

Infrastructure Battle Puts China Chip Bill on Back Burner

chips

A bipartisan push to make the U.S. more competitive with China and bolster domestic chip production risks falling by the wayside as Congress grapples with a packed year-end agenda in an ever-more-divided Capitol.

Daniel Flatley | Bloomberg News
October 20, 2021
Government, Business, Safety, Fuel

Baker Hughes Joins Halliburton in Ida-Fueled Oil Services Hit

Baker Hughes

Another disappointment to jolt the oil services sector: Baker Hughes Co. reported a third-quarter earnings stumble that included pain from Hurricane Ida and a warning of hampered growth for oil demand.

David Wethe | Bloomberg News
October 20, 2021
Government, Business, Technology, Equipment, Safety

NHTSA Deputy Steven Cliff to Be Nominated as Administrator

Highway

A former California pollution regulator is being nominated to run the nation’s highway safety agency.

Tom Krisher | Associated Press
October 20, 2021
Government, Business, Safety, Logistics

Union Pacific, Unions Sue Each Other Over Vaccine Mandate

Union Pacific

OMAHA, Neb. — Union Pacific and its labor unions are suing each other to determine whether the railroad has the authority to require its employees to get vaccinated against the coronavirus.

Josh Funk | Associated Press
October 20, 2021
Business, Logistics

CN Railway CEO Ruest to Retire

Jean-Jacques Ruest, president and chief executive officer of Canadian National Railway Co.

The embattled CEO of Canadian National Railway announced his retirement on Oct. 19, the same day the company posted financial gains during a third quarter that saw its attempt to merge with Kansas City Southern fall apart.

Dan Ronan | Associate News Editor
October 19, 2021