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Sales of 20,625 new Class 8 tractors made the third month of 2015 the best March in nine years, according to the latest data received from Wards Auto.
The March results were up 15.8 percent from February sales of 17,811 and were 25.4 percent better than sales of 16, 452 in March 2014.
CSX Corporation will be reporting its first quarter earnings results on April 14, after market close. Its carload report for the quarter to date ending March 2 paints a weak picture, with overall carload traffic remaining stagnant. CSX’s coal carloads have declined due to weak export prices and domestic demand. Carloads of industrial commodities such as chemicals, petroleum products, metals and automobiles, and intermodal carload were sluggish due to the bad weather. The railroad’s revenue will be majorly reliant on its pricing, which is expected to show robust growth this year. Its operating ratio (operating expenses expressed as a percentage of revenue) is likely to have benefited from the pricing increase as well as a decline in fuel prices.
Warren Buffett said Wednesday that Berkshire Hathaway will have about $9.5 billion value of frequent stock in the newly merged H.J. Heinz-Kraft Foodstuff business.
The offer to develop the third-biggest food and beverage corporation in the North America—announced hours before Buffett's interview on CNBC's "Squawk Box"—was in the performs for about four weeks, the billionaire investor reported.
"It moved along pretty immediately," he said, but stressed he's in it for the extended haul.
On the news, Kraft shares surged much more than 30% at the open up on large volume—trading at all-time highs relationship back again to its 2012 spinoff from then Kraft Meals Inc., which was renamed Mondelēz Intercontinental.
Transportation advocates in Pittsburgh and more than 100 other American cities are joining forces to call attention to the fast-approaching expiration of surface transportation funding from the federal government.
Thursday is being billed as Stand Up for Transportation Day. Chris Sandvig, regional policy director from the Pittsburgh Community Reinvestment Group, said most people don’t realize that funding is about to dry up.
Increased demand for transportation and logistics services is driving the commercial vehicle market, according to a report just released by Global Industry Analysts Inc. (GIA).
Headquartered in San Jose, Calif., GIA said the global market for commercial vehicles is projected to reach 29.1 million units by 2020, driven by economic growth and growing commercial, business, and industrial activity, and the ensuing rise in demand for transportation and logistics services.
The research report, titled, "Commercial Vehicles: A Global Strategic Business Report," reviews the commercial vehicles market, industry overview, trends, growth drivers and issues, and recent industry activity. The report provides market estimates and projections for commercial vehicles in volume sales and production in units for major geographic markets.
Cardinal Logistics Management Corporation, nationwide provider of transportation and third-party logistics services, today announced the appointment of Michael Roberts as chief financial officer of Cardinal and its parent company Cardinal Logistics Holdings, LLC. Roberts succeeds Ed Barnes, who is leaving the company to pursue other opportunities.
Roberts has significant experience leading finance and accounting organizations and has strengthened Cardinal's financial group since he joined in 2014 as controller. His previous work experience includes time at Polymer Group, Inc., Eastman Kodak Company and Med Assets, Inc. Mr. Roberts began his career working at PricewaterhouseCoopers in the Rochester, NY, office. He graduated from the State University of New York at Geneseo with a degree in accounting and is a certified public accountant.
Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) advanced slightly to $71.45. The price had gained 0.32% or 0.23 points intraday. The latest trading session witnessed $7.11 million in upticks and $9.81 million in downticks, resulting in net money flow of (-2.7) million. The up/down ratio for the day stood at 0.72. On a weekly scale, the price has seen a change of 0.16%. A low up/down ratio and a negative money flow are concerns for the stock price, which may head lower in the coming sessions.From the trading data available, it was disclosed that a block trade of negative money flow worth $(-2.92) million occurred during the day. $0 million in uptick and $2.92 million in downtick were the highlight of the block transaction, which had an up/down ratio of 0.
Five years in the making, Daimler Trucks North America says it has beaten the SuperTruck Challenge from the US Department of Energy to produce a prototype vehicle that is at least 50 percent more efficient than a 2009 baseline truck.
The Freightliner SuperTruck, a collaborative effort from Freightliner, Detroit Engines, Mercedes-Benz and Fuso, surpassed the 50 percent barrier by 65 percent, mainly due to better aerodynamics.
Unveiled at the 2015 Mid-America Truck Show, Daimler took a clean-sheet approach to the challenge to make the truck 54 percent more aerodynamic than the 2009 baseline truck.
Kevin Kimmel, a professional truck driver for Con-way Truckload, has received numerous awards recently because he noticed that something "didn’t feel right" at a truck stop and decided to call local authorities.
While preparing to settle in to sleep at a New Kent, Va., truck stop the morning of Jan. 6, Kimmel had noticed an RV with its windows blacked out and then saw a man was walking back and forth between the truck stop and the RV.
La Cañada Flintridge Calif. - The Allen Lund Company Rochester office has announced the promotion of Jammi Videan to business development specialist. "Jammi has been our most productive broker over the past year and a half. She has the passion, enthusiasm and determination to help take our office to the next level," stated Paul Brunelli, manager of ALC Rochester, continuing "I have no doubt she will be very successful."
"Jammi's strength has always been her enthusiasm for delivering complete customer satisfaction. In her new role as a business development specialist, she will be able to bring that enthusiasm to new customers for the company," stated David Lund, VP sales and operations. "I am excited about this opportunity," added Jammi. "I enjoy this work because it is different all the time and I feel I have a unique set of skills which will serve me well in my new position."
In the rest of the world, transportation infrastructure is about more than getting people from point A to point B: It’s also a tool to stimulate local employment and industry. A longstanding federal policy has kept American transportation agencies from using their construction and procurement programs as spark plugs for local economies. Last month, Transportation Secretary Anthony Foxx announced that the Department of Transportation (DOT) would take advantage of a recent Justice Department ruling on the so-called "common grant rule" and change its own rules to permit local projects receiving federal assistance to use local preferences in hiring employees. At the same time, the department is launching a one-year "hire local" pilot program to encourage transportation agencies to set up programs that give preference in hiring to local residents, low-income workers and veterans. The pilot project will gather data to evaluate whether the programs "unduly limit competition," the litmus test for preferences in federally assisted projects.
The National Highway Traffic Safety Administration (NHTSA) this week published a recall for 2,386 Freightliner Cascadia tractors due to a problem with the service brakes.
Daimler Trucks North America (DTNA) said it is recalling certain model year 2015 Freightliner Cascadia, Business Class M2, 108SD, 114SD, 122SD, Coronado, Western Star 4700 and Western Star 4900 trucks manufactured between Oct. 6, 2014, and Feb. 16, 2015, and equipped with Haldex Life Seal brake chambers.
With $26.4 billion in state transportation projects unfunded over the next 20 years — $8 billion of that in Southern Nevada — local transportation leaders rallied Thursday for the public to press lawmakers to clear federal funding logjams.
Local leaders signed a Regional Transportation Commission bus wrap supporting "Stand Up for Transportation" and suggested that people write lawmakers encouraging the passage of appropriations measures before the Moving Ahead for the Progress in the 21st Century Act, a transportation funding measure, expires on May 31.