Deficit for Federal Agency Ensuring Pensions Grows to $58.8 Billion
The Pension Benefit Guaranty Corp., which ensures that retirees receive benefits even if their pensions become insolvent, reported that its multiemployer plan deficit grew to $58.8 billion in fiscal year 2016 and will likely run out of money before the end of 2025, the government agency announced.
November 17, 2016Daily Briefings from Transport Topics
Transport Topics has partnered with Spoken Layer to make one-minute daily briefings available on all your smart devices. Simply say “Alexa, play Transport Topics” or “Okay Google, talk to Transport Topics” to get the day’s biggest trucking headlines.
Connecticut DOT to Conduct Study of I-95
The Connecticut Department of Transportation will conduct a study on how to improve safety and traffic along Interstate 95, including at several key interchanges in the region, a DOT official said Nov. 16.
November 17, 2016Consumer Comfort Rises to Highest Level Since April 2015
Sentiment among American consumers increased in the week after the presidential election to reach the highest level since April 2015 on more upbeat views about the economy, figures from the weekly Bloomberg Consumer Comfort Index showed Nov 17.
November 17, 2016N.J. Bond Rating Downgraded After Fuel Tax Hike
New Jersey’s bond rating was downgraded from “A” to “A-“ on Nov. 14 by S&P Global Ratings in the wake of the state’s massive fuel tax hike that became law last month.
November 16, 2016Trump Team Floats ‘Infrastructure Bank’ Derided by Campaign
A key member of Donald Trump’s transition team said the incoming administration is exploring ways to fund bridge and road repairs, including the establishment of an “infrastructure bank,” a concept Hillary Clinton promoted and the Republican’s campaign derided.
November 16, 2016Virginia Tunnel Receives $338 Million Federal Loan
A new tunnel at Thimble Shoal Channel on Virginia’s Chesapeake Bay Bridge-Tunnel will receive a $338.5 million federal loan to help finance its construction, the U.S. Department of Transportation announced Nov. 14.
November 16, 2016Navistar Plans to Launch ELD in 2017
ATLANTA — Truck maker Navistar Inc. announced plans to offer its own electronic logging device next year as the federal mandate of the technology draws nearer.
November 16, 2016ELD Mandate to Boost Technology Adoption, but Surge in Demand Could Pose Challenges
ATLANTA — The upcoming federal mandate of electronic logging devices will spur a dramatic increase in technology adoption next year, but implementation could be messy as many carriers continue to wait as long as possible before installing the devices, analysts and technology vendors said.
November 16, 2016Port of Virginia Signs $217 Million Deal to Acquire Automated Cranes
The Commonwealth of Virginia signed a deal with Konecranes to provide the Port of Virginia with 86 automated stacking cranes as part of a large-scale expansion at the Virginia International Gateway and Norfolk International Terminal over the next five years.
November 15, 2016Maine Transportation Commissioner Elected AASHTO President
David Bernhardt, the transportation commissioner in Maine, was elected president of the American Association of State Highway and Transportation Officials by the organization’s board at its annual meeting Nov. 15 in Boston.
November 15, 2016