31 Jan Roadrunner Admits to Accounting Error; Analysts Suspend Recommendations Roadrunner Transportation Systems Inc. announced that it must fix quarterly and annual earnings reports from 2014 until the present due to accounting errors, just two months after the company admitted to miscalculating the leverage ratio on its debt. Read more...
31 Jan UPS Posts 27-Cent Quarterly Loss on Pension Adjustment UPS Inc. lost $239 million, or 27 cents a share, in the fourth quarter due to a one-time "mark to market" charge on pension assets, decreasing net income by $1.67 billion from what was an otherwise profitable period. For the same issue at the end of 2015, the charge decreased profitability by $79 million. Read more...
31 Jan Allstate Peterbilt Group Acquires Harrison Truck Parts A St. Louis Park-based truck parts and service company has expanded its footprint into Central Minnesota. Read more...
31 Jan Factory Activity in Upper Midwest Jumped in January A measure of factory activity in the U.S. upper Midwest jumped in January, marking a third straight month of manufacturing growth in the region, a private survey released Jan. 31 showed. Read more...
31 Jan Employment Costs Rise Less Than Forecast on Benefits U.S. employment costs climbed less in the fourth quarter than forecast, reflecting steady wage growth and the smallest advance in benefits in more than a year. Read more...
30 Jan Randy Rogers Out, James Reed Elevated to CEO at USA Truck USA Truck CEO Randy Rogers has been let go after only one year in the job and replaced by recently hired Chief Financial Officer James Reed, according to an announcement from the company's chairman of the board that highlighted the need to change approaches at the struggling truckload carrier. Read more...
30 Jan Werner Profits Drop 40% But Still Top Analyst Forecasts Werner Enterprises Inc. continued a difficult quarter for truckload companies, suffering a 40% drop in profits to close out this past year but still beating the lackluster forecast of analysts. Read more...
30 Jan Diesel Notches Third Consecutive Decline, Slips 0.7¢ to $2.562 The U.S. average retail price of diesel slipped 0.7 cent to $2.562 a gallon as crude oil prices remained near $52 a barrel and U.S. rig counts increased. Read more...
30 Jan Report: CSX in Talks With Railroad Exec Hunter Harrison About Taking Top Spot at Company CSX is in talks with a railroad executive who could end up taking over the company's top spot, according to published reports. The Wall Street Journal reported Jan. 29 that CSX officials met in Atlanta on Jan. 27 with Hunter Harrison, who recently retired as CEO of Canadian Pacific Railway. Read more...
30 Jan Indiana, Tennessee at Forefront of Possible Wave of Fuel-Tax Hikes With the contentious 2016 election over and few officials on the ballot again until 2018, transportation stakeholders believe that the current state legislative sessions could see fuel taxes raised to cover large funding shortfalls. Only New Jersey, which has off-year elections, did so in 2016. Read more...