18 Jun After Blowing $300 Billion, US Shale Finally Makes Money After years of booms and busts that produced astronomical losses along with a whole lot of oil, the fracking industry seems to have found a sweet spot. It’s poised to generate more than $30 billion of free cash this year. Read more...
18 Jun XPO Announces GXO’s $800 Million Notes Offering XPO Logistics upcoming spinoff, GXO Logistics, has priced an offering of $800 million on investments notes with registration rights, the company announced June 17. Read more...
18 Jun Auto Show Back in Detroit Next Year DETROIT — The head of Detroit’s big international auto show says it will return to the Motor City next year, but with smaller indoor displays and more emphasis on experiencing vehicles and technology outside. Read more...
18 Jun Ford Sees Improved Q2 Outlook Ford’s second-quarter outlook is improving, with large numbers of customers making reservations for four of its new vehicles. Read more...
18 Jun In Reversal, Lordstown Motors Says It Has No Firm Truck Orders TOLEDO, Ohio — Struggling electric truck maker Lordstown Motors said June 17 it doesn’t have any firm orders for its vehicles, just days after its president said the company had enough to maintain production through 2022. Read more...
17 Jun Attorney Danny Keating Pleads Guilty in Staged Accidents With Trucks New Orleans attorney Danny Patrick Keating Jr., charged last year for his participation in 31 illegal staged accidents, has pleaded guilty to conspiracy to commit mail and wire fraud. Read more...
17 Jun Buttigieg Pushes Transportation Budget Amid Infrastructure Talks Transportation Secretary Pete Buttigieg called on senators to fund big-ticket transportation programs as congressional leaders continue to craft comprehensive infrastructure policy measures and prepare to consider a multiyear highway bill. Read more...
17 Jun More Carriers Raise Pay Amid Driver Shortage Trucking companies are continuing to increase pay to recruit and retain drivers to protect against ongoing labor capacity issues. Read more...
17 Jun Transportation Companies Prepare for Hurricane Season Summer means the start of hurricane season in the Atlantic Ocean and many of the world’s biggest transportation companies are taking steps to prepare for what some forecasters say could once again be above-average activity along the Atlantic Coast and the Gulf of Mexico. Read more...
17 Jun Rep. DeFazio to Highlight Road Congestion Remedies WASHINGTON — Rep. Peter DeFazio, chairman of the U.S. House transportation committee and author of a comprehensive five-year, $547 billion highway bill, is very aware that being stuck in traffic is bad for business. Read more...