News Briefs - Feb. 19
The Latest Headlines:
- Jobless Claims Fall in Latest Week
- Strong Demand Lifts Frozen Food's Profits
- CNF CEO Quesnel to Retire
- Schneider Opens Intermodal Office in Washington
- Indiana Plans New Interstate 65 Interchange
- Strong Demand Lifts Frozen Food's Profits
Jobless Claims Fall in Latest Week
The number of Americans filing initial unemployment claims fell by 24,000 to 344,000 in the week ended Feb. 14, the Labor Department said Thursday.The drop reflected declines in the states that had reported weather-related increases in the previous two weeks, the department said.
The four-week moving average of claims, a less-volatile indicator, rose to 352,000 from 351,750.
Strong Demand Lifts Frozen Food's Profits
Frozen Food Express Industries Inc. said late Wednesday its net income for the fourth quarter was $686,000 or 4 cents per share, compared with $576,000 or 3 cents a year earlier.Chairman and Chief Executive Officer Stoney Stubbs Jr. said demand for his company's services were "stronger than I've seen it in the last four or five years."
For the full year, net income was $4.3 million or 24 cents per share, compared with $3.2 million or 19 cents in 2002.
The company also said income from freight operations increased 207% to $11.5 million during 2003. Total revenue was $404 million, an increase of 15.2%.
Frozen Food is ranked No. 46 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
CNF CEO Quesnel to Retire
CNF Inc. said Wednesday its Chief Executive Officer Gregory Quesnel planned to retire on July 6.Quesnel has been with the company for 29 years. The company's board said it would begin a search for his successor.
CNF is ranked No. 4 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Schneider Opens Intermodal Office in Washington
Schneider National Inc. said Wednesday it opened of a intermodal field office in Auburn, Wash., about 30 miles from Seattle.The company said in a statement it will manage nationwide intermodal loads out of the new office on behalf of customers throughout the Pacific Northwest, including large retailers, food manufacturers and distribution companies.
Schneider is ranked No. 7 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Indiana Plans New Interstate 65 Interchange
Officials in Indiana said they planned to spend $5.5 million to build a new interchange on Interstate 65, about 45 miles north of Lafayette, the Associated Press reported.The interchange at Indiana 14 would improve access to the interstate for tanker trucks that carry milk from dairy farms in Newton and Jasper counties to processors in the Chicago area, officials said.
I-65 runs from Chicago to the Gulf Coast, and passes through Indianapolis.
The Indiana Department of Transportation intends to accept bids on the project this fall, Commissioner J. Bryan Nicol told AP. Officials in the two counties estimate the new interchange will save $2 million in county road maintenance costs. Transport Topics
