Transportation Industry News

• Tesla’s Elon Musk, SEC Get More Time to Solve Spat Over Tweets
  In a joint letter to U.S. District Judge Alison Nathan, Tesla Inc.’s top executive and the securities regulator said they haven’t been able to resolve a legal dispute over how Musk posts news about his electric-car company. The judge agreed and gave them until April 25.
• Housing Starts Fall in March to Weakest Pace Since 2017
  U.S. new-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower mortgage rates and steady wage gains offer support to consumers.
• Two Texas Oil Towns Among Metros With Fastest Population Growth
  Two Texas economies are reaping the benefits from the oil boom in the Permian Basin with people “voting with their feet.”
• Coal Prices Are Up, and US Miners Still Can’t Catch a Break
  The global coal markets have been on a tear lately. And America’s miners still are tanking.
• Sears Estate Sues Eddie Lampert, Claiming Illegal Transfer of Assets
  The bankrupt estate of Sears Holdings Corp. sued Eddie Lampert and his hedge fund ESL Investments Inc., claiming they wrongly transferred $2 billion of company assets beyond the reach of creditors in the years leading up to the retailer’s bankruptcy.
• Blackstone Group CEO Stephen Schwarzman Sees US-China Deal, No Sign of Recession
  The CEO of the world’s largest alternative asset manager is confident the United States isn’t headed toward a recession any time soon and is certain the nation will strike a trade deal with China, Schwarzman said in a Bloomberg Television interview April 18.
• Kansas City Southern Reports Strong First-Quarter Earnings
  Kansas City Southern, the smallest of the Class 1 railroads in North America, on April 17 reported first-quarter financial results that beat Wall Street’s expectations.
• Investors Pour More Money Into Warehouse Tech Startups
  Flowspace, a technology firm that helps businesses manage warehousing and fulfillment services, received $12 million in funding from an investment group led by Canvas Ventures.
• USDOT Provides $9 Million for Emergency Repairs in Iowa
  Iowa’s transportation agency will receive federal assistance to repair flood-damaged roads.
• Retail Sales Jump Most Since 2017 on Autos, Gasoline
  U.S. retail sales jumped by the most since September 2017 as gains in motor vehicles and gasoline stations boosted sales, signaling consumers are giving the economy greater support.