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TT File Photo |  | Old Dominion’s 2Q Earnings Improve | Old Dominion Freight Line said its second-quarter profit rose to $23.9 million, or 64 cents a share, from $22.5 million, or 60 cents, a year ago. |
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Truck dealership Rush Enterprises’ first-quarter net income fell to $6.1 million, or 16 cents a share, down from $13 million, or 34 cents, a year ago. |
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Con-way Inc. said its second-quarter net income increased to $48.7 million, or $1.02 per share, from $46.4 million, or 96 cents, a year earlier. |
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Existing homes sales fell in June to the lowest level in a decade, the National Association of Realtors said Thursday. |
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Third-party logistics company and freight broker Hub Group’s second-quarter net income rose to $15 million, or 40 cents a share, from $13.8 million, or 35 cents, a year ago. |
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Union Pacific Corp. said Thursday its second-quarter profit rose 19%, on higher demand for agricultural transportation. |
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Truckload carrier Knight Transportation’s second-quarter profit fell to $12.7 million, or 15 cents a share, from $18.2 million, or 21 cents, a year ago. |
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EDITION: PAGE ONE
Week of July 21, 2008
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June Truck Sales Rise 9.5% Heavy-duty U.S. retail truck sales grew by 9.5% in June, compared with year-ago levels, and ended a streak of 17 consecutive months of contraction, according to the latest survey by WardsAuto.com. |
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Smaller Fleets Seeking Buyers as Strategy to Avoid Bankruptcy Behind this year’s surge in trucking company failures, brought on largely by the double-whammy of slow freight and skyrocketing fuel prices, is another ominous trend: a sharp increase in the number of motor carriers asking larger competitors to buy them out. |
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Diesel Rises 3.7¢ to Record $4.764; Crude Drops The U.S. retail diesel average rose 3.7 cents last week to another record, $4.764 a gallon, the Department of Energy reported, while the price of crude oil posted its largest single-day drop in 17 years on July 15. |
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Qualcomm’s Third-Quarter Earnings Slip
Wireless-services provider Qualcomm Inc. said its fiscal third-quarter earnings fell 6% to $748 million, or 45 cents a share, from $798 million, or 47 cents, a year ago. |
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California Issues Natural Gas Grants
Clean Energy Fuels Corp. said two California environmental agencies awarded grants totaling more than $11 million to further the development of natural gas fueling stations and vehicles. |
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EPA Requests More Input on Greenhouse Gases
The Environmental Protection Agency issued a nearly 600-page request for public comment on whether it should use existing law to regulate greenhouse gas emissions, a decision one trucking official said was a way to further delay any new regulations until after President Bush leaves office. |
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More Technology
Daimler to Cut Jobs at Ontario Truck Plant
Daimler AG plans to eliminate as many as 720 jobs at the Sterling Truck plant in Ontario, Canada, as the world's largest truckmaker reduces production because of lower demand, Bloomberg News reported. |
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Petroleum Demand Drops
High prices and a sluggish economy have prompted the steepest drop in U.S. oil demand since 1991, the American Petroleum Institute said Friday, Greenwire reported. |
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NHTSA Ends Rearview Mirror Proposal
The National Highway Traffic Safety Administration said Monday it was withdrawing a 2005 proposed regulation that would have required rearview detection systems on medium-duty trucks because the number of fatalities attributed to these trucks was small and rearward visibility may be addressed in another regulation. |
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GM Cuts Dividend, Payrolls to Add Cash
General Motors Corp., buffeted by a U.S. sales collapse and three years of losses, suspended its stock dividend, cut salaried payroll by 20% and proposed selling assets to raise at least $15 billion in the next 18 months, Bloomberg News reported. |
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Light & Medium Truck News
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R. L. Polk & Co.
The industry’s only fact-based source for Commercial Vehicle
Information.
www.polk.com |
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