Monday, December 05, 2011
In a recent filing with the Department of Transportation’s Surface Transportation Board (STB), a group comprised of several rail shippers voiced their opinions as to why allowing BNSF Railway to take a write-up of roughly $8 billion based on the acquisition premium paid by Berkshire Hathaway in its February 2010 $34.5 billion acquisition of BNSF is “objectionable for many reasons.”
Friday, December 02, 2011
With its primary index—the PMI—showing signs of leveling out in recent months, the Institute for Supply Management’s Manufacturing Report on Business increased nearly two full percentage points in November to extend the growth streak for economic activity in the manufacturing sector to 28 straight months and the overall economy showed growth for the 30th consecutive month.
While the prospects of a national railroad strike were fairly high earlier in the week, the situation appears to be far less dire, with tentative agreements in place between major freight railroads and two of the three railroad labor unions that the railroads had yet to reach an agreement.
Rail traffic continues to positively trend upward, with gains on both the carload and intermodal side for the week ending November 26 according to data released by the Association of American Railroads (AAR).
Thursday, December 01, 2011
With its eye on further expanding its rapidly growing global healthcare business, UPS announced today it has agreed to purchase Pieffe Group, an Italy-based pharmaceutical logistics company.
Posted on 12/01 at 01:15 PM
Global Logistics •
Freight transportation services provider Con-way Inc. recently announced that Con-way Multimodal, a subsidiary of Con-way’s Menlo Worldwide Logistics group, will open a new branch office in Frisco, Texas, a Dallas suburb, on December 5.
Wednesday, November 30, 2011
Less-than-truckload transportation services provider YRC Worldwide announced that effective Friday, December 2 it will implement a 1:300 reverse split of YRC common stock.
Posted on 11/30 at 04:25 PM
YRC Worldwide •
In a filing with the United States Court of Appeals, District of Columbia Circuit yesterday, the Federal Motor Carrier Safety Administration (FMCSA) stated it will roll out its new proposed truck driver Hours-of-Service (HOS) rules within 30 days.
Posted on 11/30 at 12:54 PM
Tuesday, November 29, 2011
With the clock winding down, the ongoing dispute between railroad management and labor over contractual issues largely focused on health care and economic issues remains in flux.
The United States Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was up 13.8 percent in September 2011 compared to September 2010, hitting $77.7 billion.