News Briefs - March 24
The Latest Headlines:
- Swift Repurchases 3.5 Million Shares During 1Q
- Tennessee Trucking Group Seeks New Chief
- Postmaster General Warns of Rate Increases
- New Home Sales Rise in February
- Interpool Delisted From NYSE, but Plans to Reapply
- WTO Sides With Canada in Lumber Dispute
- Tennessee Trucking Group Seeks New Chief
Swift Repurchases 3.5 Million Shares During 1Q
Swift Transportation Co. said Wednesday it had repurchased 3.5 million shares of its common stock at a cost of $65 million during the first quarter.Swift's board of directors previously authorized the company to repurchase up to $100 million of common stock until Feb. 28, 2005.
The company also said in a statement Chairman and Chief Executive Officer Jerry Moyes purchased 150,000 shares of common stock during the quarter.
Tennessee Trucking Group Seeks New Chief
With the Tennessee Trucking Association’s current chief executive, Chris Burruss, getting set to take the reins at the Truckload Carriers Association, TTA officials were preparing to find his replacement.TTA Chairman Tommy Higginbotham said that group would appoint a search committee March 24. “Obviously, we would like someone with trucking experience,” Higginbotham said.
TCA named Burruss to be its new president on March 11, after a quick interview process.
David Gordon, American Trucking Associations vice president for federation relations, said Burruss was “an effective leader in Tennessee and is well respected among his colleagues. I’m sure he’ll do a great job at TCA.”
In preparing to leave the Tennessee group to work with the national TL association, Burruss credited the companies he worked with. “If I did anything, it was just listen to them,” he said.
