User-agent: Mediapartners-Google* Disallow: Trucks World News
Google
 
Loading

Dec 5, 2015

TRUCKING RECESSION * USA. Cummins' downgrade may reflect it

* New Jersey - CNBC's Jim Cramer said: A recent downgrade in Cummins Inc.'s stock could signal a recession in trucks
-- Cummins' stock was downgraded to "underperform" by Bank of America Merrill Lynch on Tuesday, citing lackluster earnings moving forward and a slowdown in the Chinese economy, CNBC reported... Shares of the engine maker have declined about 35 percent this year and were down more than 7 percent near midday Tuesday... To be sure, others have voiced concerns about an economic slowdown in trucking... U.S. shipments as measured by the latest Cass Freight Index dropped 5.3 percent last month from a year ago, making it the worst October since 2011, Bloomberg reported... The year-over-year decline was the eighth straight and the biggest since November 2009. Trucks transport almost 70 percent of the nation's freight by weight, according to American Trucking Associations... 
 (Image from Dollar Photo Club: CNBC's Cramer: Cummins' Downgrade May Reflect Trucking Recession)  --  Englewood Cliffs, N.J., USA - NewsMax, by F McGuire - 1 Dec 2015

Labels: ,

posted by Unknown @ 7:23 AM  0 comments

Dec 3, 2008

RECESSION * USA - Tire makers feeling it

Washington,DC,USA -Land Line Magazine -December 2, 2008: -- The people who make the tires for new trucks are feeling the effects of the recession...   The Rubber Manufacturers Association reports it expects to see a 16 percent drop this year in shipments of new tires to truck manufacturers...   That’s nearly 4 million fewer tires than were sold to truck makers in 2007...   


* Pilgrim’s Pride files for bankruptcy

Pittsburg,TX,USA -Land Line Magazine -2 Dec 2008: -- A mega chicken-processing company that many truckers haul for filed for Chapter 11 bankruptcy protection on Monday, Dec. 1...   Pilgrim’s Pride, which is headquartered in Pittsburg, TX, asked the court to approve a $450 million financing agreement. The company officials say they could continue normal operations if the agreement is approved...   Pilgrim’s Pride is the biggest chicken-processing company in the U.S. and employs about 48,000 people, according to media reports...

Labels:

posted by Unknown @ 7:27 PM  0 comments

Nov 10, 2008

Traffic Levels * UK - Fall for first time in decades

Motor firms head for crash. The 'great car economy', championed by Margaret Thatcher in the Eighties, faces its biggest challenge

London,UK -The Independent, by Jane Merrick, Brian Brady and Ian Griggs Sunday -9 November 2008: -- Traffic on Britain's roads is decreasing significantly for the first time since the three-day week of the early 1970s, suggesting the car economy is heading for a crash, official figures revealed yesterday... In a sign that the country is already in recession, fewer car and lorry journeys on motorways, rural and urban roads were made over the last six months compared to the same period a year ago... The Department for Transport (DfT) recorded two consecutive quarters where road traffic has decreased year on year – the first time for more than 30 years... At the same time, sales of new cars have fallen by 23 per cent and are at their lowest since 1996. The motor industry is suffering across the world, with Volvo, the Swedish giant, selling just 115 heavy trucks over the past few months, compared to 41,970 during the same period last year – a 99.7 per cent fall... And the jobs of 3,700 people at two UK car plants are at risk after General Motors warned it would be bankrupt within months unless it received a bailout from the US government...

Labels:

posted by Unknown @ 10:07 AM  0 comments