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Nov 14, 2008

TRUCKING INDUSTRY NEWS * USA

* Velocity Reports $11.3 Million 1Q Loss

Wesport,CT,USA -Transport Topics -13 Nov 2008: -- Velocity Express Corp. reported it lost $11.3 million, or $3.45 a share, in its fiscal first quarter, compared with a loss of $11.1 million, or $4.22, a year earlier... The package-delivery and supply chain management company’s revenue for the quarter ended Sept. 27 fell to $72.6 million, from $93.3 million a year earlier...


* Postal Service Loses $2.8 Billion

Washington,DC,USA -Traffic World, by Thomas L. Gallagher -13 Nov 2008: -- The U.S. Postal Service finished its fiscal year with a net loss of $2.8 billion... The national economic slowdown lowered mail volume and held revenue in check, postal officials said. Further losses came as additional costs mandated by the Postal Act of 2006 kicked in... “We expect the new fiscal year to be another difficult one for the Postal Service and the entire mailing industry, as economic factors will continue to reduce mail volume and increase expenses,” said Postmaster General John Potter...


* USPS to Increase Shipping Prices in Jan.

Washington,DC,USA -Traffic World, by Thomas L. Gallagher -13 Nov 2008: -- The U.S. Postal Service will increase shipping prices Jan. 18, an average of 5 percent, said the agency... Overall, shipping services prices will increase an average of 5 percent for Express Mail, Priority Mail, Parcel Select, Parcel Return Service and some international shipping products. The Postal Service does not impose fuel surcharges...


* US1 Reports Higher 3Q Income

Valparaiso,IN,USA -Transport Topics -13 Nov 2008: -- Logistics firm US1 Industries’ third-quarter profit rose to $972,000, or 7 cents a share, from $789,000, or 6 cents, a year ago... Revenue slipped 0.7% to $46 million, the company said late Thursday. Operating income held at about $1.5 million... US1 provides financial resources, insurance and information technology to the trucking and logistics industries...

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