23 Mar CEO Pay at Norfolk Southern Rises to $8.42 Million James Squires, chairman, president and CEO of Norfolk Southern, saw the value of his 2016 pay package rise about 5.4%, to $8.42 million from $7.98 million a year earlier, according to documents filed with the Securities and Exchange Commission. Read more...
23 Mar New-Home Sales Climb to Seven-Month High in February Purchases of new homes increased in February to a seven-month high, indicating the effects of the recent rise in borrowing costs on the U.S. residential real estate market have been modest. Read more...
23 Mar Claims for Jobless Benefits Increase to Seven-Week High Filings for U.S. unemployment benefits rose to a seven-week high, representing a departure from other data showing a solid labor market. Read more...
22 Mar Container Shipping Lines Ordered to Testify in US Sector Probe The U.S. Justice Department has ordered top executives from several container shipping lines to testify in an antitrust investigation over practices by an industry that is the backbone of world trade, the companies said on March 22. Read more...
22 Mar Daimler Trucks North America Promotes Nielsen to CEO Daimler Trucks North America has promoted Roger Nielsen to president and CEO, the company announced. Read more...
22 Mar Heavier Trucks Worry Some Idaho Residents Latah County, Idaho, residents who showed up to a public hearing March 21 held by the Idaho Transportation Department were largely opposed to a proposal that would allow trucks up to 129,000 pounds on U.S. Highway 95 and sections of state Highways 3 and 8 in the county. Read more...
22 Mar Sales of Previously Owned Homes Fell 3.7% in February Sales of previously owned U.S. homes declined in February after rising a month earlier to the highest level in a decade, according to figures released March 22 by the National Association of Realtors in Washington. Read more...
21 Mar FedEx Profits Up 3.7%, Earnings Forecast Misses Mark FedEx Corp. reported that profits rose 11% year-over-year on higher revenue due to a rate hike last autumn, but lower operating income companywide due to higher fuel costs, one fewer operating day at FedEx Express and FedEx Ground, and higher costs to expand the Ground network. Read more...
21 Mar LTLs Offer Storage to Speed Up E-Commerce Deliveries Less-than-truckload companies hoping to capitalize on e-commerce are offering shippers short-term storage in terminals and shifting more business from Class 8 trucks to Class 5 and Class 6 straight trucks, according to industry executives. Read more...
21 Mar Truck Tonnages Drops in February The February truck tonnage index fell 2.8% on a year-over-year basis, but American Trucking Associations chief economist said freight activity was still strong and fell short because of the record-setting February 2016 comparison. Read more...