![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUCKING INDUSTRY * USA & Canada - Con-way Says Used ‘Aggressive’ Pricing
* Michigan - Discounting seen as diluting benefits of additional tonnage gains
Ann Arbor,MI,USA -The Journal of Commerce Online, by William B. Cassidy -Nov 5, 2009: -- Less-than-truckload carrier Con-way says it moved toward "more aggressive" price discounting in the third quarter than it normally uses and started hiring back workers to cope with tonnage gains... The declining yields and rising costs cut in the benefits of a 5.1 percent gain in tonnage in the third quarter over the same period a year ago... Con-way Freight reported a sequential 11.9 percent increase in daily tonnage from the second quarter, along with the improvement over last year... The nation’s third-largest LTL carrier — which went through layoffs and salary and wage cuts early this year — said it brought back an unspecified number of workers to keep up with the sudden surge in demand. It also plans to restore about $25 million in wage and salary cuts by January... (Photo from con-way: logistics)
* Massachussetts - BirdDog Logistics Acquires Churchill Transport
Andover, Mass,USA -Transport Topics -6 Nov 2009: -- Freight broker BirdDog Logistics Services said that it has acquired Churchill Transport Group, a third-party logistics firm... Churchill Transport Group, Charlotte, N.C., works with truckload, less-than-truckload and courier carriers, in addition to rail, ocean and air carriers, BirdDog said in a release... BirdDog also acquired Churchill’s factoring subsidiary, CTG Financial... BirdDog, is a freight brokerage and freight management firm...
* Arkansas - J.B. Hunt, Norfolk Southern Ink Intermodal Deal
Lowell,AR ,USA -The Journal of Commerce Online, by John D. Boyd -Nov 5, 2009: -- Trucking and intermodal shipment operator J. B. Hunt Transport Services will ship goods through Norfolk Southern Railway under a far-reaching, multi-year contract agreement between the two transportation giants... Norfolk Southern was competing with rival CSX for the deal that will bring large volumes of business from the country’s largest truck provider of intermodal shipments and one of the originators of truck-rail partnership... Hunt already has a long-term contract with BNSF Railway in the West, and is the largest box customer for that largest of intermodal railroads... * Missouri - Sitton Motor Lines closing
Joplin,MO,USA -Land Line Magazine -November 5, 2009: -- A 30-year-old trucking company in Joplin, MO, is laying off workers and will soon shut down for good according to the Springfield Business Journal... The privately owned Sitton Motor Lines has about 250 employees, including leased owner-operators... Company president, Richard Sitton, isn’t commenting on why the over-the-road operation is closing, but he does say, “It’s going to be an orderly liquidation”...
* Alberta/Canada - Mullen bids for Livingston International
Calgary,ALB,CAN -Today's Trucking -6 Nov 2009: -- The Mullen Group has made an all-stock rival bid for the logistics and customs brokerage firm, Livingston International Income Fund... The offer for all outstanding units is worth about $300-million and trumps a cash offer by a consortium led by the Canada Pension Plan Investment Board... The western trucking and oil services giant offered 0.566 of a share for each Livingston trust unit, making the offer worth about $8.77 -- an increase from the $8 in cash (totalling 273-million) the CPPIB-led group offered... Livingston's trustees announced the CPPIB-led "acquisition" last month and recommended that unitholders accept the offer, but the Mullen offer could change things... Mullen too was once an income trust, but converted to a corporation earlier this year...
posted by Unknown @ 6:38 PM
0 Comments:
Post a Comment
<< Home