01 Mar Supreme Court Agrees to Hear Prime Inc. Dispute Over Arbitration The U.S. Supreme Court has agreed to hear a case in which Springfield, Mo.-based New Prime Inc. seeks to overturn an appeals court ruling that the carrier argued could deprive fleets and owner-operators alike of their right to resolve disputes through arbitration. Read more...
01 Mar Spend Gas Tax Money ASAP, New Caltrans Leader Says of Directive From California Gov. Jerry Brown Caltrans’ new director takes her seat this week with immediate marching orders: Spend money, and spend it fast. Read more...
01 Mar Authorities Consider Options to Untangle Traffic in Southern California’s Commercial Spine For decades, the 710 Freeway has been the commercial spine of Southern California, funneling the trucks carrying thousands of tons of furniture, clothes, televisions and other goods from the ports of Los Angeles and Long Beach into the region’s sprawling network of freeways and warehouses. Read more...
01 Mar New Omnitracs CEO Ray Greer Outlines Vision for Telematics Company NASHVILLE, Tenn. — New Omnitracs CEO Ray Greer said the company will remain open to further acquisitions as it pursues new ways to convert the ever-growing amount of data collected by fleets into deeper business insights. Read more...
01 Mar Sales, Prices Rise in Used Class 8 Market in January Sales of used Class 8 trucks rose in January as mileage and age fell, and the price of the average vehicle was stable compared with a year earlier, ACT Research Co. reported. Read more...
01 Mar Former Treasury Secretary Warns Next Recession Could Outlast Previous One The next U.S. recession could drag on longer than the last one that stretched 18 months. That’s the assessment of former Treasury Secretary Larry Summers. Read more...
01 Mar Consumer Comfort Hovers Near Highest Level in 17 Years Americans’ sentiment remained close to a 17-year high on rosier views of personal finances and the buying climate, as workers enjoy more take-home pay after the recent tax-cut legislation, according to the weekly Bloomberg Consumer Comfort Index released March 1. Read more...
01 Mar Manufacturing Expands at Fastest Pace Since May 2004 U.S. factories expanded in February at the fastest rate since May 2004, indicating sustained strength in manufacturing as demand remains solid, figures from the Institute for Supply Management showed March 1. Read more...
01 Mar Detroit Pickup Truck Sales Drop as US Auto Demand Poised to Slow General Motors Co. and Fiat Chrysler Automobiles NV reported hefty sales declines for the big trucks they’re overhauling this year, a troubling sign for a lucrative segment that’s held up well as the broader U.S. auto market shrinks. Read more...
01 Mar Jobless Claims Drop to Lowest in Almost Five Decades U.S. filings for unemployment benefits fell last week to the lowest level in almost five decades, indicating the job market remains tight, Labor Department figures showed March 1. Read more...