08 Aug Drop in Jobless Claims Shows Firm Labor Market Applications for U.S. unemployment benefits declined for the second time in three weeks, indicating the labor market is holding steadfast in the face of slower global demand and trade tensions. Read more...
08 Aug Lyft Gains as Analysts Say Results May ‘Win Over Skeptics’ Lyft Inc.’s second-quarter results blew past market estimates and won accolades from Wall Street, as analysts said they now see a clearer path to profitability and a “more rational competitive environment.” Read more...
08 Aug CVSA Inspectors Place More Than 1,600 CMVs Out of Service for Brake Violations Commercial Vehicle Safety Alliance inspectors removed more than 1,600 commercial vehicles from roadways in the U.S. and Canada for critical brake-related violations during an unannounced enforcement effort. Read more...
08 Aug Patriot Transportation Revenue Down 6.4% in Its 3Q Patriot Transportation reported net income of $396,000, or 12 cents per share, in its third quarter ended June 30, compared with $1,086,000, or 33 cents per share, in the same quarter last year. Read more...
07 Aug ELDT Compliance Urged Despite FMCSA’s Proposed Delays Despite proposed delays regarding certain parts of the federal Entry Level Driver Training rule, commercial driver license training schools shouldn’t dawdle as the rule’s upcoming effective date nears, according to training expert Jim Butler. Read more...
07 Aug Orbcomm Revenue Down 5.2% in 2Q Orbcomm Inc., a provider of machine-to-machine and internet of things technologies, said it had a net loss of $6.4 million in the second quarter ended June 30, compared to a net loss of $7.2 million in the second quarter of 2018. Read more...
07 Aug Kottke Trucking Acquires Wayne T. Fellows Inc. Kottke Trucking Inc. has acquired Wayne T. Fellows Inc., a trucking company focused on refrigerated less-than-truckload and truckload shipping based out of Davenport, Fla., according to Kottke officials. Read more...
07 Aug Eddie Lampert Loses Ruling Tied to $718 Million Claim on Old Sears Eddie Lampert suffered a setback in federal court this week when a judge effectively ruled that some of his claims against the bankrupt estate of Sears Holdings Corp. have so little priority that they are likely worth a fraction of what he’s demanding. Read more...
07 Aug Jack Cooper Files for Bankruptcy, but Pledges 'Business as Usual' Despite filing for bankruptcy, it will be “business as usual” for Jack Cooper Ventures Inc. Read more...
07 Aug Roadrunner to Focus on 3PL, LTL After Net Losses in 2Q Roadrunner Transportation Systems Inc. will narrow future operations to logistics and less-than-truckload after a disappointing second quarter, company officials said in an Aug. 7 news release. Read more...