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TRUCKING INDUSTRY * USA - 140-Year-Old Pa. Trucking Firm Closing Doors
West Goshen,PA,USA -Transport Topics -23 Sept 2009: -- A family-run Pennsylvania trucking company that has been in business for 140 years is shutting down its operations... Frame’s Motor Freight’s owner, Robert “Bud” Temple, cited the slow economy as well as high insurance and fuel costs and overcapacity in the trucking industry, the paper said... It was the oldest freight company in Pennsylvania, starting since “horse-and-wagon days” in 1870, the newspaper reported on its Web site... The company had about 65 tractors, according to American Trucking Associations fleet data... The two locations combined had 81 employees — down from 123 not too long ago — and about half of them are drivers, Temple told the paper. He has run the company for 54 years, after taking it over from his father-in-law... (Photo: Frame’s Motor Freight’s headquarters)* USA - ADS Logistics Makes Chapter 11 Filing
Chesterton,IND,USA -Transport Topics -23 Sept 2009: -- ADS Logistics has filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court in Delaware, starting the process toward a potential reorganization of the trucking and logistics operator... ADS, Chesterton, Ind., listed debts of $50 million to $100 million and assets between $10 million and $50 million. The operator of businesses such as Roll and Hold, Western Intermodal Services and Area Transportation listed a William Blair Capital Fund as its largest creditor at $3.4 million in the Sept. 2 filing...* USA & Canada - Dynamex’s Fourth-Quarter, Yearly Income Fall
Dallas,TX,USA -Transport Topics -17 Sept 2009: -- Logistics and delivery firm Dynamex Inc.’s fiscal fourth-quarter profit fell to $1.8 million, or 18 cents a share, from $4.6 million, or 45 cents, a year ago... For the fiscal year ended July 31, profit fell to $14.3 million, or 89 cents per share, from $25.5 million, or $1.55, the previous year... Sales for the quarter fell 18.7% to $96.9 million, the company said Wednesday. Sales for the year fell 11.8% to $402.1 million... The earnings for both the fourth quarter and the year include a pre-tax $1.1 million restructuring charge from moving the company's Canadian administrative office to Dallas from Toronto and related actions, Dynamex said... Labels: trucking industry news USA
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