Pump jacks in Lovington, N.M. (Charlie Riedel/AP) SANTA FE, N.M. — Record-breaking oil production in New Mexico is likely to provide state government with a new multibillion-dollar surplus during the upcoming budget year, economists for the state announced Aug. 23. Annual state general fund income would increase to $13 billion for the fiscal year that ...more
ATRI has been working to identify strategies for increasing public sector rest stop parking. (Ohio Department of Transportation) Freight stakeholders have many ideas for how to address the trucking industry’s shortage of safe truck parking, but all agree it’s not an easy challenge. “It’s one of these true public policy problems, because you have a ...more
The World War I-era federal excise tax is 12% on new commercial trucks. (Kenworth) When they return to Washington from their August recess, congressional policymakers should begin the process of repealing a tax on the purchase of new trucks, a group of freight stakeholders indicated recently. American Trucking Associations and other members of the collective ...more
Yellow's freight volumes have already started shifting to competitors, with assets expected to follow. (David Paul Morris/Bloomberg News) The Yellow Corp. shutdown is having a downstream effect on the less-than-truckload space as freight volumes flow toward competitors. YELLOW'S TERMINALS: Analysts expect more bidsThe Nashville, Tenn.-based transportation holding company ceased operations on July 30 after nearly a ...more
A unit of H.I.G. Capital is to acquire third-party logistics provider Ascent Global Logistics. (Ascent Global Logistics) A unit of H.I.G. Capital is to acquire third-party logistics provider Ascent Global Logistics for an undisclosed sum, the Miami-based private equity group said Aug. 22. H.I.G., which has $58 billion of capital under management, is buying Belleville, ...more
Werner first appealed the jury verdict in October 2018 to the Texas Fourteenth Court of Appeals in Houston. That appeal ultimately was denied in a 5-4 decision after languishing in the legal system for several years. (Werner Enterprises) Werner Enterprises Inc. has filed an appeal with the Texas Supreme Court of a $100 million jury ...more
Advance Auto Parts stock has plunged 54% this year through the Aug. 22 close. (David Paul Morris/Bloomberg) Advance Auto Parts Inc. named a new CEO and started a strategic review of the business as it struggles to keep up with inflation. Shane O’Kelly, the head of Home Depot Inc.’s HD Supply unit, will become CEO ...more
In this handout photo released by the Suez Canal Authority on August 23, the Burri and a tugboat are shown in the waterway after a collision with another large transport vessel. (Suez Canal Authority via AP) CAIRO — Two tankers carrying oil products and liquefied natural gas collided in the Suez Canal, briefly disrupting traffic ...more
FMCSA Administrator Robin Hutcheson cited Tennessee and Florida as states where the federal government has invested funds in truck parking projects. (John Sommers II for Transport Topics) COLUMBUS, Ohio — The Biden administration continues to prioritize efforts to expand access to parking for the nation’s truck drivers, the head of the Federal Motor Carrier Safety ...more
NTDC 2023 Bendix grand champion Gragg Wilson of UPS could kick back with wife Denise after taking the top honor of the eveing Aug. 19 in Columbus, Ohio. (John Sommers II for Transport Topics) During the first three days of competition at American Trucking Associations’ “Super Bowl of Safety,” several elite drivers found themselves in ...more
