Fri, 01/07/2011 - 05:00 EDT - NPR - National Public Radio (Business News)
The Obama administration is talking to Congress about reopening U.S. highways to cross-border truck traffic from Mexico -- beyond a narrow strip along the border. American unionized truckers object.» E-Mail This» Add to Del.icio.us
The collapse of Q1 GDP has been placed squarely on the shoulders of weather (too hot, too cold, and definitely not just right) and the dockworkers strike which shut 29 seaports. As Q1 GDP plunged, so Q2 was lifted hockey-stick-like to keep the growth dream alive but so far in Q2, data has not shown the bounce expected... so we are going to need a bigger excuse.
RUWAISHED, Jordan — It might be the most hairy truck route in the world — a nail-biting, long-haul, “Mad Max”-style endurance race from the Jordan border through the heart of Islamic State territory.
Some days only dozens — some days hundreds — of truckers hungry for big paydays make the vital run to deliver everything from apples to antibiotics to Iraqi civilians, many of them living under siege in territory controlled by the radical Islamist group.
The American Trucking Associations reports that freight traffic has climbed steadily since late last year. This April was almost 10 percent better than a year earlier, according to the ATA. Business has reached pre-recession levels -- and times are so good that some trucking companies can't keep up with demand.
The Port Metro Vancouver has threatened to suspend or terminate the licences of striking container truckers at the country’s busiest port if they did not return to the job immediately.
Rob Silvester, Port Metro Vancouver chief executive, said the port was ready to move ahead with plan put forth by the federal appointed mediator to the dispute, Vince Ready, despite lingering concerns by the truckers.
“The goal is simple, to get Port Metro Vancouver back to full operations,” Mr. Silvester said in a statement late Sunday.
On Friday, trucking stocks were on a downward trend after Knight Transportation Inc. (NYSE:KNX) slashed its fourth quarter earnings guidance. Knight Transportation expects diluted earnings per share (EPS) of $0.31-0.33 in comparison to earlier forecasts of $0.36-0.38. Most analysts believe that this is the only beginning as the trucking market is forecast to be soft for 2016.
President Obama visited Oklahoma for the first time since taking office and announced an executive order to speed up review of a U.S.-only portion of the controversial Keystone XL pipeline. His announcement came as Republicans criticized his administration over rising gas prices. » E-Mail This » Add to Del.icio.us
A proposed federal rule would require long-distance truckers to install electronic monitors that track how many hours they're behind the wheel. It's an effort to keep dangerously tired drivers off the road. But the monitors are pricey, and some independent truckers resent both the cost and the intrusion.
The Chamber actively campaigned against key parts of the Obama agenda, including the health care law and new rules for financial services. But in recent weeks, the administration has been talking more about ways to work together with businesses to put people back to work.» E-Mail This » Add to Del.icio.us