Every month this year has experienced a year-over-year decline since closing out 2022 at the second-highest level on record. (Utillty Trailer Manufacturing Co.) U.S. trailer orders continued the trend of year-over-year declines in July despite experiencing a significant sequential turnaround, according to ACT Research. Preliminary data shows orders decreased 41.1% year-over-year to 10,000 from 16,997, ...more
Luis Hermida (third from left) is competing at nationals for the third time. (New Mexico Trucking Association) COLUMBUS, Ohio — A surprising new sentiment stirs for FedEx Freight’s Luis Hermida: anticipation. This year’s “Super Bowl of Safety” is finally here, and Hermida, competing in the twins class, is determined to display his talents. COMPLETE NTDC ...more
A drone view of the plant's interior. (Shinhwa) MONTGOMERY, Ala. — An auto parts supplier plans a $114 million investment to expand its facility in Alabama to support the production of electric vehicle parts, Gov. Kay Ivey’s office announced Aug. 15. Shinhwa Auto USA Corp.’s expansion will create 50 jobs over the next three years ...more
Profit came in above expectations in the second quarter. (Target Corp.) NEW YORK — Target’s second-quarter sales were hit by inflation and a negative reaction by some customers, widely publicized on social media, to its Pride merchandise. The Minneapolis retailer expects high interest rates, which makes credit cards more expensive to use, and higher prices ...more
(Jake May/The Flint Journal via AP, file) DETROIT — About 146,000 members of the United Auto Workers union will vote next week whether to authorize their leaders to call strikes against the Detroit automakers. Union President Shawn Fain told members in a Facebook Live appearance Aug. 15 that the talks, which started in mid-July, are ...more
Yellow shut its doors on July 30. (Yellow Corp.) An affiliate of Ken Griffin’s Citadel has acquired roughly $485 million in Yellow Corp. debt previously owned by Apollo Global Management Inc. and other senior lenders to the bankrupt trucking firm, according to a person familiar with the matter. The deal comes as Yellow seeks to ...more
"You are the heartbeat of this nation,” ATA President Chris Spear told attendees at the kick-off to the National Truck Driving Championships and Step Van Championships in Columbus, Ohio, on Aug. 16. (John Sommers II for Transport Topics) COLUMBUS, Ohio — This year’s “Super Bowl of Safety,” the premier precision-driving contest for commercial drivers, is ...more
A billboard in Miami promoting Proterra buses in February. (Wilfredo Lee/Associated Press) Electric bus maker Proterra Inc. had support from President Joe Biden, contracts with 135 transit agencies and $309 million in revenue. But despite that, it couldn’t turn a profit after nearly 20 years and filed for bankruptcy last week. In doing so, it ...more
Beep's driverless EV shuttle on display in Orlando, Fla. (John Raoux/Associated Press) ORLANDO, Fla. — There is going to be a new way to get around downtown Orlando, and it’s not going to require any human drivers. Starting later this month, an electric, self-driving shuttle will whisk passengers around a 1-mile loop in the downtown ...more
Customers enter an Aldi supermarket in Bensalem, Pa. (Matt Rourke/Associated Press) Discount grocer Aldi said Aug. 16 it plans to buy 400 Winn-Dixie and Harveys supermarkets in the southern U.S. Under a proposed merger agreement, Aldi will acquire all outstanding shares of Jacksonville, Fla.-based Southeastern Grocers Inc., the parent company of Winn-Dixie and Harveys. If ...more
