News Briefs - June 29
The Latest Headlines:
- Consumer Confidence Index Rises to Two-Year High
- UPS, FedEx Seek More Flights to China
- Visteon Elects New President; Chairman to Retire in 2005
- CNF Names Kennedy Interim CEO
- Schneider National to Hire 150 Drivers in Pa.
- Hub Group’s Stock Offering Prices at $33 a Share
- UPS, FedEx Seek More Flights to China
Consumer Confidence Index Rises to Two-Year High
Confidence in the U.S. economy rose in June to the highest level in two years, the Conference Board said Tuesday.The board said its consumer confidence index rose to 101.9, from a revised 93.1 in May. Economists had expected the index to rise to 95, Bloomberg reported.
The index component that tracks consumers' expectations for the next six months rose to 100 from 94.8. A gauge of optimism about the present situation increased to 104.8 this month, the highest since June 2002, from 90.5 in May. Transport Topics
UPS, FedEx Seek More Flights to China
UPS Inc. and FedEx Corp. has asked the Department of Transportation for permission to add cargo flights later this year from the United States to China, Bloomberg reported.FedEx is seeking 12 more weekly flights, more than doubling its current 11, spokeswoman Kristin Krause told Bloomberg. UPS has asked for six additional flights to Shanghai in addition to its current six to Beijing.
The United States and China signed an aviation agreement on June 18 that increases flights fivefold over a six-year period, Bloomberg said. Transport Topics
Visteon Elects New President; Chairman to Retire in 2005
Vehicle parts supplier Visteon Corp. said Monday its board of directors named Michael Johnston as chief executive officer and president effective July 1.The company also said in a statement that Peter Pestillo would continue as chairman until May 11, 2005, the date of its next annual shareholders meeting, when he plans to retire.
estillo had been chairman and CEO of Visteon since January 1, 2000. Transport Topics
CNF Names Kennedy Interim CEO
Transportation firm CNF Inc. said Monday that Dr. W. Keith Kennedy was named interim chief executive officer effective June 30.CNF said that Kennedy, who will continue as chairman and head of the board's CEO search committee, replaces Gregory Quesnel, who said in February he would retire this summer.
CNF is ranked No. 4 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Schneider National to Hire 150 Drivers in Pa.
Truckload carrier Schneider National Inc. said Monday it would hire 150 new drivers to support its Pennsylvania-based operations, the Business Journal of Milwaukee reported.Most of the drivers will be used in Schneider National's bulk division, the Journal said.
Schneider is ranked No. 7 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Hub Group’s Stock Offering Prices at $33 a Share
Logistics provider Hub Group Inc. said Monday the public offering of 1.9 million shares of common stock was priced at $33 per share.The closing of this offering is scheduled for July 2, the company said in a statement.
Three shareholders that are offering 100,000 sharew in addition to Hub’s 1.8 million have granted the underwriters an option to purchase up to an additional 285,000 shares to cover over-allotments, the company said. Transport Topics
