Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
Forward Air Corp., a contractor to the air cargo industry, reported its second-quarter profit declined, and the company said it would acquire an Indiana carrier.July 24, 2007
Refrigerated truckload carrier Marten Transport’s second-quarter net income plunged 42% due to lower freight rates and reduced revenue per truckload.July 24, 2007
Diesel fuel’s national average pump price held at last week’s level of $2.889 a gallon, while gasoline plunged 9.1 cents to $2.958, the Department of Energy said Monday.July 24, 2007
FedEx Corp.’s less-than-truckload FedEx Freight unit said Monday it will reduce its standard LTL fuel surcharge by 25%, effective immediately.July 23, 2007
Satellite radio firms Sirius Satellite Radio and XM Satellite Radio Holdings, which are seeking federal approval to merge, said Monday they plan to offer a la carte plans to customers starting at $6.99 a month for 50 channels, the Associated Press reported.July 23, 2007
Pittsburgh Logistics Systems said Monday that its freight division has begun to offer truckload van service for general commodities, in addition to its flatbed service.July 23, 2007
By Andrea Fischer, Staff Reporter
This story appears in the July 23 print edition of Transport Topics. Click here to subscribe today.July 23, 2007
The Teamsters Union said it negotiated a tentative agreement covering newly organized workers at less-than-truckload carrier USF Reddaway, a unit of YRC Worldwide.July 23, 2007
PeopleNet Communications’ said Monday that Chief Operating Officer Ron Konezny was promoted to chief executive officer, effective immediately.July 23, 2007
Wireless Internet provider AirIQ announced it has chosen Steve Willey as the company’s chief executive officer.
Willey, an AirIQ board member since 2001, has been interim CEO since February.July 23, 2007