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TRUCKING INDUSTRY NEWS * USA - Analyst lifts FedEx 2 notches to 'Outperform'
New York,NY,USA -AP -30 Aug 2009: -- An analyst upgraded shares of FedEx Corp. to "Outperform" from "Underperform," saying slight improvements in global package volume, wage cuts and the possible bankruptcy of a major trucking company will drive earnings — and in turn, shares — higher... Shares rose $1.33 to $69.86 in afternoon trading...
* Onstott takes over as trucking association president
Anchorage,Alaska,USA -Alaska Journal of Commerce -August 28, 2009: -- A familiar face in the Alaska trucking industry has taken over as president of the Alaska Trucking Association... Chuck Onstott, general manager of Midnight Sun Transportation Service Inc., was voted in as president of the Alaska Trucking Association at the group's 51st annual meeting in April... There is no over-capacity in the industry, Onstott said. But regulations and fuel costs could affect pricing in the future... (Photo/Rob Stapleton/AJOC - Midnight Sun Transportation Inc. General Manager Chuck Onstott is the new president of the Alaska Trucking Association)* Celadon's glow fades, but worst might be over
Indianapolis,IND,USA -Today's Trucking (CAN) -31 Aug 2009: ... Compared to this time last August, Celadon's profits are down a whopping 60 percent. On the other hand, it's still in the black, which is more than you can say for some of Celadon's competitors... In 2008, fourth quarter profits for Celadon rang in at $6.5 million on revenues of $565.9 million. This year, revenues were down to $490.30; and net income sunk to $2.6 million... Also, just around this time last year, Russell told a Canadian audience at Truck World that the American recession had just about hit bottom... June was the first month of the year that Celadon finally billed more miles than the same month of the prior year... This positive trend continued through July and the first two weeks of August... On the other hand, in his speech last year, Smith said he thought rates had hit bottom too. On that one, things actually got worse... Celadon runs about 3,300 tractors and 10,000 trailers in the U.S., Canada and Mexico, including a dedicated fleet out of Kitchener, Ont... (Photo: Shipments are picking up, but rates are still scraping along the bottom says Celadon's Steve Russell)Labels: trucking industry news USA
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