29 Jan Longshore Union, Which Handles West Coast Containers, Could Face Bankruptcy The union that handles every shipping container that crosses West Coast docks is bracing for bankruptcy. It’s a rare prospect for a bargaining group, and it’s rattling organized labor nationally. Read more...
29 Jan Used Class 8 Sales Down 11.9% in December, ACT Research Says Used Class 8 sales in December were down 11.9% year-over-year compared with December 2018, according to ACT Research’s monthly report. Read more...
29 Jan Used Class 8 Sales Down 11.9% in December Used Class 8 sales in December were down 11.9% year-over-year compared with December 2018, according to ACT Research’s monthly report. Read more...
29 Jan China’s Steel Sector Braces as Virus Impacts Top Producer The world’s top steelmaker is wrestling with the effects of the deadly, rapidly spreading virus that is impacting labor, logistics and demand across China. Read more...
29 Jan ELFA: Financing Business Volume Up 2% in December, 5% in 2019 New business volume for financing or leasing heavy equipment was up 5% in 2019 from a year ago, according to the Equipment Leasing and Finance Association. Read more...
29 Jan Toyota Halts Operations in China Toyota Motor Corp. is halting production in China and other companies suspended operations or asked employees to work from home as they grapple with a SARS-like coronavirus that has killed more than 130 people and is threatening a key growth market. Read more...
28 Jan $135 Million Settlement Approved in Navistar MaxxForce Engines Lawsuit A federal judge in Chicago has granted final approval of a $135 million settlement between a court-certified class of an estimated 45,000 plaintiffs and Navistar Inc. in connection with the truck maker’s troubled model year 2011-2014 MaxxForce engines. Read more...
28 Jan Port of Virginia Looks to Become Wind Power Leader Virginia Gov. Ralph Northam on Jan. 28 announced an agreement to make the Portsmouth Marine Terminal a staging area for equipment and other materials owned by Denmark-based energy company Ørsted to expand its wind energy projects throughout the United States. Read more...
28 Jan Roadrunner Sells Distribution Service to C.H. Robinson for $225 Million Roadrunner Transportation Systems Inc. will sell its Prime Distribution Services business to C.H. Robinson Worldwide Inc. for $225 million in cash, according to a Jan. 28 news release. Read more...
28 Jan Chassis Provider FlexiVan to Merge With American Intermodal Management I Squared Capital acquired a majority stake in FlexiVan Leasing Inc., the private equity firm said. As a result, the company said it is merging FlexiVan with American Intermodal Management. Read more...