02 May Tesla to Raise $2 Billion to Counter Cash Drain Tesla Inc. plans to raise about $2 billion through debt and stock offerings, after CEO Elon Musk overestimated the ability of the Model 3 sedan to generate enough cash for the company to be self-sustaining. Read more...
02 May House Speaker Nancy Pelosi Stresses Federal Funding in Infrastructure Plan A $2 trillion infrastructure package that congressional Democrats and President Donald Trump agreed to work on during this session of Congress should be backed primarily with federal funds, House Speaker Nancy Pelosi told reporters May 2. Read more...
02 May Averitt Expands Residential Delivery Options Averitt Express has expanded its residential delivery network to provide shippers with a variety of direct-to-customer delivery options as demand for final-mile logistics services grows. Read more...
02 May Paccar Parts Makes Chrome Options Available Paccar Parts has made available new chrome options for the Kenworth W990 model. Read more...
01 May XPO Logistics Profits Slide, Revenue Flat in 1Q XPO Logistics reported lower profits and overall flat revenue in the first quarter of 2019, but the company’s CEO drew an optimistic picture of the business going forward with $1.1 billion in new business added so far this year and more than $4 billion in active bids in its sales pipeline. Read more...
01 May Editorial: Dealmakers Strike a Big Deal The $2 trillion infrastructure agreement President Donald Trump and congressional Democrats reached last week has been a long time coming, and we’re thrilled to see it. Voices on both sides of the aisle have maintained that infrastructure is a bipartisan issue. Seeing the top leaders from both parties agree on such a massive legislative effort indicated that those statements were more than just talk. Read more...
01 May Western Express to Invest $88 Million, Add 225 Jobs in Tennessee Western Express, a Nashville-based freight company, announced May 1 it will spend $88 million and add 225 jobs as it adds new technology, business services and back-office support at its headquarters and expands its truck fleet nationwide. Read more...
01 May Infrastructure Bill Should Pave Way for Modernization, Holmes Norton Says The April 30 announcement from House Democrats on an agreement with President Donald Trump to work on a $2 trillion infrastructure package elevated the profile of the subcommittee on Highways and Transit, and presents Del. Eleanor Holmes Norton with an opportunity to pursue a transformative vision not just for the District of Columbia, but the entire country. Read more...
01 May Saia Posts 1Q Increases in Revenue, Income Despite Severe Weather Saia Inc. shrugged off extreme weather in the first three months of the year to post records in its May 1 earnings report. Read more...
01 May ACT Panel: Hydrogen Fuel Cells Face Off With All-Electric Batteries LONG BEACH, Calif. — Many transportation executives see a role for electric trucks in the years to come, but the question of which power-delivery method will move to the forefront — pure-electric or hydrogen fuel-cell electric — remains open, experts said. Read more...