CP Workers Begin Strike
About 3,200 track workers for Canadian Pacific Railway went on strike Wednesday, slowing down trucks picking up containers stored at rail terminals, Canada’s Globe and Mail reported.
May 17, 2007US 1 Industries’ Income Dips
Logistics firm US 1 Industries’ first-quarter income fell to $370,000 or 3 cents a share, from $695,000 or 6 cents a year ago.
May 16, 2007Diesel Drops Another 1.9¢; Gas Soars to Record $3.103
Diesel’s national average pump price dipped 1.9 cents to $2.773 a gallon, while gasoline jumped 4.9 cents to an all-time record $3.103, the Department of Energy said Monday.
May 15, 2007Clarke Sets 2-for-1 Stock Split
Canadian holding company Clarke Inc. said Thursday its first-quarter earnings improved, and the company’s board approved a 2-for-1 stock split.
May 10, 2007U.K. Hedge Fund Seeks Rail Returns
A British hedge fund that owns shares of U.S. railroads Union Pacific Corp. and BNSF Railway, in addition to its previously disclosed holdings of CSX Corp., wants better returns from its U.S. rail holdings, Bloomberg reported.
May 10, 2007CSX to Buy Back $1 Bln. in Stock
Eastern freight railroad CSX Corp. said Tuesday it will repurchase an additional $1 billion in its stock, boost its dividend 25% and make significant capital expenditures over the next four years, the Associated Press reported.
May 8, 2007EGL Says Ceva’s Offer ‘Superior’ to CEO’s
EGL Inc. said Monday that a $43 proposal by Ceva Group to acquire EGL is a “superior proposal” to a proposal led by its chief executive officer.
May 7, 2007Pacer’s Income Falls 41%
Transportation and third-party logistics firm Pacer International’s first-quarter net income plunged 41% to $14.4 million or 15 cents a share, from $24.4 million or 36 cents a year ago.
May 4, 2007U.S. Firm Buying Canada Cartage
A U.S. private-equity firm will buy trucking company Canada Cartage for C$140 million, the Canadian Press reported Friday.
May 4, 2007Ceva Makes Offer for EGL
EGL Inc. said Thursday it has received an offer from Ceva Group to acquire stock of the Houston-based freight forwarder for $43 a share.
May 3, 2007