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TRUCKING INDUSTRY * USA - Truckers eye YRC struggle as opportunity
And they said "skittish YRC customers were ripe for picking..."
New York,NY,USA -Reuters, by Carey Gillam -Sep 10, 2009: -- After three years of declining freight volumes and weak pricing, U.S. trucking firms are openly discussing the possibility of top rival YRC Worldwide collapsing, saying it would give their industry a much-needed boost... YRC Worldwide is a dominant player in shipments of everything from machinery parts to furniture and retail goods, but recently has been scrambling to gain concessions from its lenders and workers in an economic downturn that has left the trucking industry hungry for customers and profits... At an industry conference in New York, executives at rival trucking companies in the less-than-truckload (LTL) market said on Thursday they were watching developments at YRC closely... Rival executives said the leniency of lenders who have repeatedly extended financing to YRC was hurting the overall industry and contributing to overcapacity and cut-throat pricing... (Picture from todaysfinancialnews: YRC Worldwide's truck)
* FedEx boosts guidance, sees 'encouraging' recovery signs
New York,NY,USA -MarketWatch/Dow Jones, by Christopher Hinton -Sept. 11, 2009: -- FedEx Corp. shares jumped 6% Friday after the parcel delivery giant reported that a surprisingly strong rebound in international business is pushing its quarterly profit past Wall Street estimates... An economic bellwether, the Memphis, Tenn.-based shipping company is expected to be one of the first businesses to rebound from the economic malaise that has hamstrung business growth for well more than a year. Though volume is still down for the year, demand deterioration has slowed... Shares of FedEx jumped $4.66 to close at $77.32 while the wider market slumped, with the Dow Jones Industrial Average off 22 points at 9,605. Rival United Parcel Service Inc. was also up, adding 4% to $58.80... (Photo from arabiansupplychain: Fedex planes)
Labels: trucking industry news USA
posted by Unknown @ 5:52 AM
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