News Briefs - Jan. 15
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The Latest Headlines:
- Celadon Reports Higher Fiscal 2Q Earnings
- Jobless Claims Fall 11,000 in Latest Week
- Tanker's Cargo May Have Shifted Before I-95 Accident
- W.Va. Proposes Easing Reporting Requirements for Some Truckers
- Dana Corp. Says Sale May Fuel Expansion
- Jobless Claims Fall 11,000 in Latest Week
Celadon Reports Higher Fiscal 2Q Earnings
Truckload carrier Celadon Group Inc. said Wednesday its net income for its fiscal second quarter ended Dec. 31 was $1.5 million or 19 cents per share, compared with $1 million or 13 cents a year earlier.Operating revenue increased 6.9% to $97.1 million, the company said in a release. Average revenue per tractor per week improved 6.8% to $2,689.
Jobless Claims Fall 11,000 in Latest Week
The number of Americans filing for first-time jobless benefits fell 11,000 to 343,000 in the week ended Jan. 10, the Labor Department reported Thursday.Labor said weekly claims figures tend to be volatile at this time of year because of year-end factory shutdowns and temporary idlings, Bloomberg reported.
The four-week moving average, which is often seen as a more reliable gauge because it smoothes out weekly fluctuations, fell 3,000 to 347,500, the lowest level since February 2001.
The number of people continuing to collect state jobless benefits in the week ended Jan. 3 fell by 128,000 to 3.139 million, the fewest since 3.127 million in the week ended Aug. 18, 2001. Transport Topics
Tanker's Cargo May Have Shifted Before I-95 Accident
The cargo of the tanker truck involved in the deadly accident on Interstate 95 in Maryland eariler this week may have shifted and made the vehicle uncontrollable before it plunged from an overpass, the Associated Press reported Thursday.Four people died on Tuesday after the tanker fell from an overpass near Baltimore and onto vehicles traveling on I-95, the East Coast's main north-south artery.
Gary McLhinney, the chief of the Maryland Transportation Authority police, said marks left by the tanker's tires on the I-895 overpass and reports from two witnesses indicate the cargo of gasoline may have shifted, AP said.
McLhinney also said investigators have not ruled out the possibility that the driver may have suffered a medical problem that caused him to lose control of the truck, according to AP.
An official at Swift Transportation Co. said the company believes one of their drivers died in the collision, AP said. Transport Topics
W.Va. Proposes Easing Reporting Requirements for Some Truckers
Only coal haulers on roads where truck weight limits were increased last year would have to report shipping information to West Virginia's Public Service Commission under a proposal a legislative interim committee has adopted, the Associated Press reported.The Legislative Rule-Making Review Committee on Tuesday amended the coal truck weight limit rule, AP said. The amended rule still must be approved by the full Legislature.
Under state law, coal haulers in 15 southern counties can seek special permits to haul up to 120,000-pound loads. In other counties, weight limits on state roads are 80,000 pounds.
AP also said the committee did not act on a suggestion to expand the list of roads on which truckers can haul up to 10% above the legal limit without being cited. Transport Topics
Dana Corp. Says Sale May Fuel Expansion
Acting President William Carroll said Dana Corp., which put most of its replacement auto parts business up for sale in December, expects to sell the operations for at least $1 billion and possibly apply the proceeds to expand its commercial vehicles business, Bloomberg reported.Dana may use proceeds for acquisitions or joint ventures that would bolster its business of making components like axles and engine parts for newly built cars and trucks, Carroll said in a recent interview with Bloomberg.
In November, Dana fended off a $4.4 billion takeover bid from ArvinMeritor Inc. Transport Topics
