Norfolk Southern, CN to Share Track, Freight in Midwest
Canadian National Railway and Norfolk Southern Corp. plan to create a “MidAmerica Corridor,” an agreement in which the railroads will share track and carry each other’s shipments in various routes in the Midwest, the railroads announced Tuesday.
February 11, 2009DOE Holds ’09 Diesel Forecast at $2.28 a Gallon
The Energy Department held its projection for diesel prices from a previous forecast, saying trucking’s main fuel would average $2.28 per gallon this year and $2.55 in 2010.
February 10, 2009UPS, Postal Service Set Retail-Return Partnership
UPS Inc. said Tuesday it is partnering with the U.S. Postal Service for a new retail-return service in which consumers can send returns by UPS via their own mailboxes.
February 10, 2009Senate Approves $838 Billion Stimulus
The Senate approved Tuesday the $838 billion economic stimulus bill proposed by President Obama, the Associated Press reported.
February 10, 2009GM Announces New Job, Salary Cuts
General Motors Corp. said Tuesday it would cut 10,000 jobs, or about 14% of its worldwide workforce, by the end of the year as part of its plan to show that it is a viable company.
February 10, 2009Expeditors’ 4Q Income Improves
Logistics firm Expeditors International of Washington said its fourth-quarter net income rose 11% to $77.7 million, or 36 cents a share, from $70.1 million, or 32 cents, a year ago.
February 10, 2009Logistics Concerns Could Reduce Overseas Manufacturing
Companies are considering moving their manufacturing away from foreign countries as off-shore manufacturing costs increase, a survey released Monday said.
February 10, 2009Vitran Reports Fourth-Quarter Loss
Vitran Corp. said Tuesday it lost $ $3.2 million, or 23 cents a share, compared with a profit of $1.7 million, or 12 cents, a year earlier.
February 10, 2009Forward Air’s 4Q Income Drops
Forward Air Corp. said Tuesday its fourth-quarter earnings fell 33% to $8.3 million, or 29 cents a share, from $12.4 million, or 43 cents, a year ago.
February 10, 2009Diesel Drops 2.7¢ to $2.219
Diesel fuel fell 2.7 cents to $2.219 a gallon, continuing a 30-week downward trend and leaving it at the lowest level in nearly four years, the Department of Energy said Monday.
February 10, 2009