Latest News Updates From Michael G. Malloy

Business, Fuel

Diesel Dips 1.1¢ to $3.858

Diesel dipped 1.1 cents to $3.858 a gallon, its fourth consecutive decline and lowest price in eight months, the Department of Energy reported July 28.

July 29, 2014
Business, Logistics

TransForce to Acquire Contrans Group

TransForce Inc. said it will buy fellow Canadian carrier Contrans Group Inc. for about C$495 million.

July 25, 2014
Business

Truckload Turnover Holds Over 90% in First Quarter

Turnover at large truckload carriers rose slightly to 92% in the first quarter, holding above 90% for the ninth straight quarter, American Trucking Associations reported July 9.

July 9, 2014
Business

West Coast Port Contract Remains in Place During Three-Day Break

The International Longshore and Warehouse Union and the Pacific Maritime Association said their labor contract, which expired June 30, will remain in place while the sides take a 72-hour break in their negotiations this week.

July 8, 2014
Business

Navistar Sets Tax Asset-Protection Plan

Navistar International Corp. has amended its stockholder rights plan, essentially turning it into a tax asset-protection plan that guards the long-term value of the original equipment manufacturer’s tax assets.

June 25, 2014
Business, Fuel

Diesel Rises 3.7¢ to $3.919 a Gallon

Diesel rose for the first time in eight weeks, gaining 3.7 cents to $3.919 a gallon, and gasoline rose for the fourth time in five weeks, the Department of Energy reported June 23.

June 24, 2014
Government, Business

Eaton to Pay Meritor $500 Million to Settle Antitrust Suit

Component makers Meritor Inc. and Eaton Corp. announced June 23 that Eaton will pay $500 million to a Meritor joint-venture unit to resolve a 2006 antitrust lawsuit.

June 23, 2014
Business, Fuel

DOE Boosts 2014 Diesel Forecast to $3.90

Diesel will average $3.90 a gallon this year, the Department of Energy said, boosting its most recent price forecast by 4 cents.

June 10, 2014
Business, Fuel

Diesel Drops 2.6¢ to $3.892 a Gallon; Decline Is Biggest in More Than a Year

Diesel’s national average price fell 2.6 cents to $3.892 a gallon, the sixth straight downturn and biggest decline in more than a year, the Department of Energy reported June 9.

June 10, 2014
Business

Navistar’s 2Q Loss Declines; Revenue Improves

Navistar International Corp. announced June 5 that its fiscal second-quarter loss narrowed from a year ago as its Class 8 truck orders and market share improved.

June 5, 2014