27 Jan Canadian Pacific's Wallace Takes Leave, Could Join Harrison Atop CSX Mark Wallace, chief of staff at Canadian Pacific Railway Ltd., was put on a paid leave of absence on Jan. 27, prompting more speculation that Wallace and outgoing CEO Hunter Harrison will attempt to take over the reins at rival railroad CSX Corp. through private investor Paul Hilal of Mantle Ridge. Read more...
27 Jan Ontario International Airport Courts Chinese Versions of FedEx, UPS Top executives at Ontario International Airport on Jan. 26 outlined their efforts to attract major Chinese courier companies to use ONT as the major gateway and hub to the U.S. and Latin American marketplaces, similar to UPS Inc. and FedEx Corp.'s domestic e-commerce operations with Amazon. Read more...
27 Jan Case Alleging Former Navistar CEO Misled Investors Moves Forward A federal judge ruled on Jan. 25 that a civil case alleging Navistar's former CEO misled investors about a failed engine technology can move forward. Read more...
27 Jan Roadrunner Reduces Delivery Times Facing declining revenue and operating profits, the less-than-truckload wing of Cudahy, Wisconsin-based Roadrunner Transportation Systems Inc. has cut transit time for about a fifth of its freight by an average of 20%, an executive said Jan. 26. Read more...
27 Jan Consumer Sentiment Increased in January to 13-Year High Consumer confidence rose in January to a 13-year high, reflecting ongoing optimism about post-election fiscal policies and their impact on economic growth. Read more...
27 Jan Trac Intermodal to Use Radial Tires on Chassis in Alabama Trac Intermodal is changing the tires on its chassis in Mobile, Alabama, from bias ply to radial tires, which the company said will improve the performance and reliability for truck drivers. Read more...
27 Jan Vnomics Introduces 'True Fuel Score' to Assess Driver Efficiency Vnomics Corp. has introduced a more comprehensive driver scoring model for True Fuel, its fuel optimization platform. Read more...
27 Jan Caterpillar Sees Drag From Used Equipment as Miners Bounce Back Ample used construction-equipment supplies and restrained spending from miners mean the commodities rebound won't be giving much of a lift to beleaguered Caterpillar Inc., which forecast 2017 results that trailed analysts' estimates. The shares fell. Read more...
27 Jan US Economic Growth Cools on Biggest Trade Drag Since 2010 U.S. economic growth slowed last quarter more than forecast on the biggest drag from trade in six years and more moderate consumer spending. However, business investment picked up, which may be a harbinger for faster expansion in 2017. Read more...
27 Jan Capital Goods Orders Rose More Than Forecast in December Orders for U.S. capital goods advanced more than forecast in December, showing businesses were adjusting investment plans amid prospects for stronger economic growth. Read more...