Court Says FedEx Drivers Can Sue for Status; Company Plans To Appeal
A federal judge ruled Monday that FedEx Corp.’s independent drivers can sue as a group for benefits sought in a lawsuit filed by workers claiming they should be paid as full-time employees, Bloomberg reported.
October 16, 2007Supervalu’s Earnings Rise for Fiscal 2Q
Grocery chain Supervalu Inc. earned $148 million, or 69 cents a share, for its second quarter ended Sept. 8, up from $132 million or 61 cents a year earlier.
October 16, 2007Industrial Production Rises 0.1% in September
Industrial production rose 0.1% in September, the Federal Reserve said Tuesday.
October 16, 2007Velocity Express Reports Fiscal 4Q Loss
Velocity Express said Tuesday it lost $4.3 million or 20 cents a share in its fiscal fourth quarter ended June 30, compared with a loss of $5.8 million or 44 cents a year earlier.
October 16, 2007Werner’s 3Q Income Dips 11%
Truckload carrier Werner Enterprises’ third-quarter profit declined 11% from a year ago, to $21.9 million or 30 cents per share, from $24.6 million or 31 cents last year.
October 16, 2007Diesel Gains 0.4¢ to $3.039; Oil Hits Record, Topping $86
Retail diesel fuel rose 0.4 cent to $3.039 a gallon, the Department of Energy said Monday, while crude oil jumped to a new closing-price record of $86.13 a barrel.
October 16, 2007UPS Chief Executive Eskew Stepping Down
UPS Inc. said Monday Chairman and Chief Executive Officer Mike Eskew will step down at the end of the year and be replaced by Scott Davis, the company's vice chairman and chief financial officer.
October 15, 2007ATA Expects 11-Hour HOS Limit Will Hold
ATA President Bill Graves said Friday that he expects a court’s 90-day stay will give federal regulators enough time to issue an interim final rule maintaining an 11-hour limit for truck drivers’ hours of service, the Associated Press reported.
October 15, 2007UPS, Teamsters Contract Shows Enhanced Pay, Benefits
UPS Inc. employees represented by the Teamsters union will get a pay increase of $4 an hour and additional benefits worth $5 an hour under a new five-year contract, Bloomberg reported.
October 15, 2007Eaton’s Third-Quarter Earnings Rise
Heavy-duty vehicle parts manufacturer Eaton Corp. said Monday its third-quarter net earnings rose 4%, though the company lowered its full-year profit forecast.
October 15, 2007