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TRUCKING INDUSTRY NEWS * USA - FedEx Reports 4Q Loss
USA -Transport Topics -18 June 2008: -- FedEx Corp. reported a fourth-quarter loss Wednesday of $241 million, or 78 cents a share, citing higher fuel costs and a writedown at its Kinko’s unit... The loss compared with a profit of $610 million, or $1.96 a share, in last year’s fourth quarter. It reported an operating loss of $163 million, down from income of $1.01 billion a year ago... Excluding the charges, and a 6-cent charge in last year’s fourth-quarter, its earnings were $1.45 per share, compared with $1.90 a year ago, for the fiscal quarter ended May 31... For its full fiscal year, FedEx earned $1.13 billion, or $3.60 per share, down from $2.02 billion, or $6.48 per share, a year ago. Revenue rose 8% to $38 billion... (Photo by Tom Biery/Trans Pixs) * Trucking company Performance Transportation Services has gone out of business because of a strike waged by the Teamsters Union
USA -Transport Topics -17 June 2008: -- ... The strike, which occurred because the two companies could not come to an agreement on issues such as employees’ wages, which the company was proposing to cut in order to invest more money into new technologies. The company, which closed its doors for the final time last Friday, was one of 100 largest for-hire carriers in the United States and Canada. It was the second-largest car-hauler in the region... Further indicators have suggested that while trucking and transportation is a growing industry overseas, the United Sates is seeing a slowdown. One of those indicators is the fact that sales of heavy duty trucks to overseas markets are beginning to increase, where this had not been a stable market in the past...
Labels: trucking industry news USA
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