16 Apr UPS CEO David Abney Earns Horatio Alger Award For more than 70 years, the Horatio Alger award has been bestowed upon individuals who have overcome adversity to achieve success and remained committed to both higher education and helping others. So UPS CEO David Abney is in good company. But his 3-year-old grandson's reaction to the news has kept him humble. Read more...
16 Apr Ridgemont Equity Partners Buys Munch’s Supply Ridgemont Equity Partners acquired Munch’s Supply, a wholesale distributor of heating, ventilation and air conditioning equipment and supplies based in New Lenox, Ill., from Rotunda Capital Partners. Read more...
16 Apr Corcentric Completes Two Acquisitions to Expand Payment Services Corcentric, a company that provides systems to manage payments for transportation and other businesses, has purchased substantially all of the assets of Determine Inc., a cloud-based payment software provider, for $32 million in cash. Read more...
16 Apr ValueAct Bets on Success of Hydrogen Fuel With Nikola Motor ValueAct Capital Management has built a new position in Nikola Motor Co., a closely held hydrogen fuel cell trucking company seeking to raise $1.5 billion to expand in the U.S., starting on the West Coast. Read more...
16 Apr Canadian National Rail Pledges $80 Million for Minnesota Improvements Canadian National Railway plans to invest more than $80 million in Minnesota this year — spending it, they said, would strengthen the company’s rail network across the state. Read more...
16 Apr New York Looking to Extend Port Authority to Buffalo Instead of unloading the containers at the New York port and putting them on trucks there, the idea is to unload the containers onto a train that would take them to Buffalo. Read more...
16 Apr Trade Groups Push for No Tariffs on Vehicle Parts Officials in the transportation industry warned that if President Donald Trump follows through on the threat of tariffs on imported truck and automobile parts, the effects could be devastating for jobs in the United States. Read more...
16 Apr Tesla Touts Energy Savings in Its First Sustainability Report Tesla released its first sustainability report April 15, in which the electric carmaker highlighted the positive effects it said its vehicles — and its production efforts — have had on the environment since purchasing its Fremont, Calif., factory in 2010. Read more...
15 Apr J.B. Hunt Earnings, Revenue Higher in 1Q, but Miss Wall Street Projections J.B. Hunt Transport Services reported on April 15 a year-over-year bump of 7% in first-quarter revenue to $2.09 billion compared with $1.95 billion for the same period in 2018. Read more...
15 Apr Trump Visits Truck Dealer in Minnesota to Tout Tax Cuts While visiting a truck dealership in Burnsville, Minn., President Donald Trump touted tax cuts passed by Republicans in 2017, even as the law has swelled the deficit and failed to gain traction with voters in last year’s midterm elections. Read more...