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TRUCKING INDUSTRY * USA - Delta Air will replace YRC in transport index
* Kansas - YRC's restructuring is cited
Overland Park,KN,USA -Reuters, by Carey Gillam -Dec 8, 2009: -- U.S. trucking giant YRC Worldwide will be deleted from the Dow Jones Transportation Average, Dow Jones Indexes, a leading global index provider, said on Tuesday, citing YRC's broad financial restructuring and potential for a bankruptcy filing... YRC will be deleted at the close of business on Friday, Dec. 11, and replaced by Delta Air Lines Inc... Dow Jones said YRC was being removed because it is seeking a proposed a debt-for-equity swap that would give noteholders control of about 95 percent of the company's common stock... (Photo from teamsters81.org: A YRC's truck)
* Missouri - Con-way trucking expanding in 10 U.S. states
Joplin,Missouri,USA -Reuters, by Carey Gillam & Tim Dobbyn -Dec 7, 2009: -- Con-way Truckload, a full truckload carrier and subsidiary of Con-way Inc said on Monday it was expanding its regional service in 10 U.S. states due to strong demand... Con-way Truckload Regional, which covers short-haul truckload shipments of less than 600 miles (1,000 km), will add 300 trucks in 2010 to handle expansion efforts that will begin in January in Missouri, Kansas, Iowa, Nebraska, Wisconsin, Minnesota, Illinois, Indiana, Ohio and Kentucky... The company's goal is to have at least 1,000 trucks dedicated to nationwide regional service by 2011... Con-way Truckload currently has a fleet of more than 2,700 tractors and 8,600 trailers operating throughout the United States as well as internationally in Mexico and Canada... (Photo from inboundlogistics: Conway's trucks)
* Tennessee - FedEx slashes outlook, shares fall 11 percent
Memphis,TENN,USA -Reuters, by Nick Carey & Richard Chang -Dec 8, 2008: -- FedEx Corp said on Monday it expects to report a better-than-expected second-quarter profit, but slashed its fiscal 2009 outlook as a weakening U.S. economy offsets lower fuel prices, sending its shares down more than 11 percent in after-market trading... The package delivery company's earnings warning came minutes after trucking and logistics company Con-way Inc cut its full-year 2008 earnings outlook... FedEx estimated earnings of $1.58 per share for its fiscal 2009 second quarter ending November 30. Analysts had expected earnings of $1.51, according to Reuters Estimates... In extended trading, FedEx's stock fell $8.43, or more than 11 percent, to $66.00 after closing up 72 cents at $74.43 on the New York Stock Exchange...Labels: trucking industry news USA
posted by Unknown @ 6:42 AM
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