04 Aug Senate Panel to Consider USDOT IG Nominee Eric Soskin President Donald Trump’s nominee to lead the U.S. Department of Transportation’s internal watchdog division is scheduled to appear before a Senate panel Aug. 6. Read more...
04 Aug Eaton Posts Q2 Operating Loss in Vehicle Unit Power management company Eaton Corp. reported sharp drops in net income and revenue in the second quarter as the novel coronavirus pandemic cut vehicle production at key customers. Read more...
04 Aug Shale Driller Sells Gas Fields for Fraction of Purchase Price Range Resources Corp. is selling its Louisiana shale fields for about one-tenth of what it paid for them just four years ago as depressed natural gas prices hammered the heavily indebted driller. Read more...
04 Aug FAA Spells Out Design Changes Needed in Grounded Boeing Jet Federal regulators on Aug. 3 outlined a list of design changes they will require in the Boeing 737 Max to fix safety issues that were discovered after two deadly crashes that led to the worldwide grounding of the plane. Read more...
04 Aug DOT Funds Four New University Transportation Centers The U.S. Department of Transportation announced $4.9 million in funding has been awarded to support four new University Transportation Centers. Read more...
04 Aug YRC Posts Q2 Declines Losses at YRC Worldwide Inc. widened in the second quarter amid the economic fallout of the COVID-19 pandemic, but the company said federal loans it received under coronavirus relief efforts will help position it to emerge healthier from the downturn. Read more...
04 Aug Ford to Promote Farley to CEO After Hackett’s Failed Turnaround Bid Ford Motor Co. will promote Jim Farley to CEO on Oct. 1 to replace Jim Hackett, who has elected to retire after his three-year bid to turn around the automaker failed to gain traction. Read more...
03 Aug Average Price of Diesel Continues to Linger in $2.40s Diesel fell for the third consecutive week, by three-tenths of a cent to $2.424 a gallon. Read more...
03 Aug Oil Rises With Signs of Economic Recovery Buoying Demand Oil rose the most in nearly two weeks as economic data from the U.S. to Europe and Asia signaled a flicker of life in languishing demand. Read more...
03 Aug HDMA President, COO Tim Kraus Plans to Retire Heavy Duty Manufacturers Association President Tim Kraus plans to retire early next year, the organization announced Aug. 3. Read more...