News Briefs - Aug. 8
The Latest Headlines:
- CVSA Announces Brake Safety Campaign
- Airborne, Pilots Reach Five-Year Labor Pact
- Intermodal Shipments Up Last Week
- Patriot Announces Stock Repurchase Program
- Crude Oil Near Five-Month High After Baghdad Blast
- Airborne, Pilots Reach Five-Year Labor Pact
CVSA Announces Brake Safety Campaign
The Commercial Vehicle Safety Alliance said Friday that it would sponsor a 12-hour campaign of roadside brake inspection to promote vehicle safety in September.The Sept. 4 event, being called “Operation Air Brake,” will include inspections by U.S. Canadian safety agencies in a coordinated program of education and inspections.
Participating agencies include the Federal Motor Carrier Safety Administration, the Canadian Council of Motor Transport Administrators and Transport Canada. Transport Topics
Airborne, Pilots Reach Five-Year Labor Pact
Cargo carrier Airborne Inc. reached a five-year agreement with its pilots and other flight-crew employees, the Teamster union that represents them announced Thursday,The agreement, Bloomberg News reported, covers about 800 employees. The union said the deal improves pay and job security.
The union told Bloomberg it expects a ratification vote by Aug. 14. A spokesman for the airline confirmed the agreement, but declined further comment, Bloomberg said.
Airborne Inc. is also in the process of selling its ground-delivery business to Deutsche Post AG. The Seattle-based company’s shareholders are slated to vote on the $1.05 billion deal on Aug. 14. Transport Topics
Intermodal Shipments Up Last Week
The number of intermodal loadings on the nation’s railroads rose 3.1% in the week ended Aug. 2, the Association of American Railroads.During the week, loadings totaled 197,780, AAR said, up from the 191,848 loadings on U.S. railroads last year.
Trailer loadings rose 2.3% to 50,334 from 49,211 last week. Container loadings increased 3.4% to 147,446 from 142,637 in the same week last year.
Year-to-date, intermodal loadings are up 6% to 5.77 million from 5.44 through 31 weeks last year. Transport Topics
Patriot Announces Stock Repurchase Program
Patriot Transportation Holding Inc. said Thursday that its board of directors has authorized a repurchase of stock.The board authorized a buyback of $3 million in common stock, the company said.
Patriot is engaged in transportation and real estate businesses. The Jacksonville, Fla.-based company conducts its transportation businesses through two wholly owned subsidiaries: SunBelt Transport Inc. and Florida Rock & Tank Lines Inc. Transport Topics
Crude Oil Near Five-Month High After Baghdad Blast
The price of crude oil held near its highest price in five months after a bomb exploded in Baghdad Thursday, Bloomberg News reported.In early trading Friday on the New York Mercantile Exchange, crude oil was trading at $32.24 a barrel. Overnight Thursday, prices rose as high as $32.62 a barrel.
Eight people were killed when a bomb exploded outside of the Jordanian embassy in the Iraqi capital of Baghdad. The explosion renewed fears that future violence will keep oil exports from the country below pre-war levels, Bloomberg said. Transport Topics
