31 Oct Allison Reports Lower Q3 Results Allison Transmission Holdings Inc. reported lower net income and revenue in the third quarter amid uneven demand in its markets. Read more...
31 Oct NACV Spotlights Innovations as Firms Brace for Downturn ATLANTA — Truck, trailer and component manufacturers unveiled their latest innovations and outlined visions for the industry’s future here at the second edition of the North American Commercial Vehicle Show, while simultaneously preparing for an expected downturn in the equipment market next year. Read more...
31 Oct Ford to Close Michigan Engine Factory Ford Motor Co. is closing a Michigan engine factory as part of the tentative agreement it reached with the United Auto Workers Oct. 30, as the automaker begins to shift from traditional internal combustion engines to battery-powered vehicles. Read more...
31 Oct Keystone Pipeline Shutdown Raises Costs for US Gulf Refiners The Keystone crude pipeline was shut Oct. 30 after leaking thousands of barrels of crude in North Dakota, the third spill along the pipeline’s route in less than three years. Read more...
31 Oct Cummins Q3 Earnings, Revenue Follow Markets Down Cummins Inc. posted lower net income and revenue in the third quarter as demand fell for trucks and construction equipment. Read more...
31 Oct Dana Posts Record Q3 Sales, Higher Net Income Dana Inc. notched higher net income and record revenue in the third quarter, propelled by its backlog and recent acquisitions. Read more...
31 Oct ‘Canada’ Is Becoming a Dirty Word in the Oil Patch Canada’s beleaguered energy sector suffered another morale blow as Encana Corp. — one of its marquee companies that was born out of the 19th-century railway boom — announced plans to move its headquarters to the U.S. and drop the link to Canada from its name. Read more...
31 Oct Marathon Petroleum Bows to Activist Push With Spinoff, CEO Exit Marathon Petroleum Corp. buckled under pressure from shareholders and announced the spinoff of its retail fuel-station business and the departure of its chairman and chief executive officer, just five weeks after activist investor Elliott Management Corp. went public with demands for a radical overhaul of the company. Read more...
31 Oct Transportation Leaders Officially Kick Off Volpe Center Construction Transportation Secretary Elaine Chao recently celebrated the groundbreaking of a construction project for the agency’s new John A. Volpe Transportation Systems Center in Cambridge, Mass. Read more...
31 Oct Senate Advances Fiscal 2020 Transportation Funding Measure The Senate on Oct. 31 voted 84-9 to advance legislation that would fund federal transportation programs through fiscal 2020. Read more...