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Thursday, October 21, 2010
The Department of Transportation (DOT) announced it has awarded nearly $600 million in funding from its TIGER II program for various transportation infrastructure-related projects. TIGER (Transportation Investment Generating Economic Recovery) II follows the original $1.5 billion TIGER program, which was part of the American Recovery and Reinvestment Act and distributed grants to 51 projects out of more than 1,400 applications for almost $60 billion worth of projects that came in throughout the country.
Keeping in line with the second quarter, UPS reported solid third quarter results earlier today. Quarterly revenue—at $12.19 billion—was up 9.3 percent year-over-year, and operating profit—at $1.6 billion—was up 74 percent. Net income at $991 million was up 80.5 percent, and earnings per share—at $0.93—were up 69 percent and topping Wall Street estimates that were in the $0.80-$0.92 range.
Posted on 10/21 at 09:13 AM
The port, along with 41 other capital construction projects and 33 planning projects in 40 states, received funding from $600 million awarded nationwide.
Wednesday, October 20, 2010
A new report from supply chain consultancy Armstrong & Associates Inc. states that United States-based commercial warehousing revenue will hit $50 billion in 2010. The report notes that combined contract and public warehousing revenues are expected to top 2008 levels by 2 percent after a 2009 decline. And it added that the contract and public warehousing market now represents 45 percent of the entire U.S. warehousing market.
Leaders from Southern California’s goods movement industry today announced their unanimous opposition to Measure D
While U.S. shippers have yet to measure Intra-Asia trade will have on their sourcing strategies, one prominent ocean liner executive maintains that it will be significant
The global economic crisis of 2008 and 2009 provided significant disruptions and high demand volatility in supply chains for companies across many industries, said PRTM director, Rick Hoole. Speaking at the 2010 Supply Chain Council Executive Summit in Houston last week, he said that the degree to which companies can capture benefit from an eventual upturn will depend largely on how they deal with five key supply chain challenges.
Manufacturers and members of the nation’s supply chain community welcomed the news last week that the Department of Interior’s would be ending the offshore drilling moratorium in the Gulf Coast region.
Tuesday, October 19, 2010
The pace of the economic recovery and strategies to meet economic challenges, coupled with opportunities to refine capabilities, increase efficiencies and drive down costs, are among top of mind objectives for retail-based shippers, according to the findings of a recent study conducted by The Retail Industry Leaders Association (RILA) and Auburn University.
Class I railroad carrier Union Pacific this week officially opened its 785-acre, nearly $370 million Joliet, Illinois Intermodal Terminal. Construction on the $370 million terminal began in August 2008, with phase one completed this past August. It is located five miles south of I-80 and seven miles east of I-55.
Posted on 10/19 at 09:05 AM
Union Pacific •