Rip Watson

Business

New Lease Accounting Procedures Require Fleet Review, Experts Say

Ryder System

Long-awaited nationwide lease accounting standards will require fleets to take a close look at their accounting procedures to assess how the changes affect their financial decisions, industry experts said.

Rip Watson | Special to Transport Topics
March 14, 2016
Business

FedEx Freight Ordered to Bargain With Teamsters at Two Terminals

John Sommers II for TT

The Eighth Circuit Court of Appeals ordered FedEx Freight to recognize and bargain with Teamster locals at two terminals, siding with a National Labor Relations Board ruling to that effect.

Rip Watson | Special to Transport Topics
March 11, 2016
Business

Port Truckers See ‘Daunting Task’ to Comply With International Container Weight Rules

Ty Wright/Bloomberg News

Truckers who work at ports fear costly delays and hampered operations will result when new international rules requiring verified weights for all ocean container cargo take effect July 1.

Rip Watson | Special to Transport Topics
March 7, 2016
Business

Tonnage Index Drops 1.4%

Truck tonnage remained in the doldrums last month, falling 1.4% from December and showing no increase on a year-over-year basis as inventory and winter weather weighed down the results, American Trucking Associations reported.

Rip Watson | Special to Transport Topics
February 29, 2016
Business, Logistics

XPO Posts Wider 4Q Loss, Sees Progress on Con-way Integration

XPO Logistics

XPO Logistics’ fourth-quarter earnings report last week provided the first real glimpse into its long-term financial performance after the 2015 acquisition spree that quadrupled revenue and saw it scoop up Con-way Inc., its largest asset and a major potential profit center.

Rip Watson | Special to Transport Topics
February 29, 2016
Business, Logistics

XPO Logistics Reports Fourth-Quarter Loss of $62.8 Million

XPO Logistics

XPO Logistics Inc. reported fourth-quarter results that included a loss of $62.8 million, or 58 cents per share, and a glimpse of less-than-truckload performance at the former Con-way Freight unit that was acquired in October.

Rip Watson | Special to Transport Topics
February 25, 2016
Business

Fleets, Shippers Battle on Rates While US Economy Downshifts

John Sommers II for TT

MIAMI — The softening U.S. economy is putting pressure on cost-conscious shippers to hold the line on freight rates this year, setting the stage for a tough battle with carriers seeking further rate increases to cover their own rising costs, such as driver pay.

Rip Watson | Special to Transport Topics
February 15, 2016
Business

Carriers Cautious on Freight Market

John Sommers II for Transport Topics

MIAMI — Privately held trucking companies are approaching today’s freight market with a healthy dose of caution, prompted by factors such as high inventories and weaker exports, according to top carrier officials addressing an investor conference.

Rip Watson | Special to Transport Topics
February 15, 2016
Business, Government, Safety, Logistics

CP’s Quest for Norfolk Southern Intensifies

Norm Betts/Bloomberg News

MIAMI — Canadian Pacific Railway Ltd. and Norfolk Southern Corp. have upped the stakes in a $30 billion battle for control of the U.S. railway, as the potential acquirer said it would take its case directly to NS shareholders.

Rip Watson | Special to Transport Topics
February 15, 2016
Business, Logistics

XPO Logistics Suit Claims YRC Poached Execs, Stole Trade Secrets

YRC Freight

XPO Logistics Inc. filed suit against YRC’s Freight unit, claiming that the company poached seven management employees, including two vice presidents, and stole trade secrets around the time that XPO was completing the acquisition of Con-way Inc.

Rip Watson | Special to Transport Topics
February 8, 2016

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