Transportation Industry News

• Hertz Eyes Bankruptcy Exit Via $4.2 Billion Stake Sale
  In a deal to jettison itself from under bankruptcy protection, Hertz said March 2 that it may sell a controlling stake in the company to two investment firms for $4.2 billion.
• Federal Judge Requires Railroads to Turn Over Certain Evidence in Fuel Surcharge Lawsuit
  In a move that could help speed up the path to a trial, a District of Columbia federal judge ruled in a multidistrict federal lawsuit that more than 200 shippers are entitled to pursue certain evidence to support their allegation that the four largest Class I railroads may have conspired to fix fuel surcharge prices.
• OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks
  OPEC’s crude production plunged in February as Saudi Arabia delivered extra cutbacks intended to clear the remnants of a global supply glut.
• Navistar Offers Free Warranty on Certain Used LT and RH Models
  Navistar International Corp. announced it is offering a free one-year, 100,000-mile factory-backed warranty for engine and aftertreatment systems on its most popular used on-highway vehicles, the LT and RH series, that meet certain criteria.
• Volvo to Make Only Electric Vehicles by 2030
  Volvo says it will make only electric vehicles by 2030. But if you want one, you’ll have to buy it online.
• COVID-19 Exposes Cold Chain Problems, Solutions
  The coronavirus pandemic has presented new challenges and opportunities for innovation in cold chain shipments.
• Progressives Propose Wealth Tax to Fund Infrastructure
  Sen. Elizabeth Warren said her proposed wealth tax on households worth more than $50 million could help pay for investments in infrastructure, child care and health reforms as part of President Joe Biden’s plan to “Build Back Better” after the coronavirus pandemic that has disproportionately hit low-income families.
• Diesel Climbs 9.9¢, Tops $3 a Gallon
  The price of diesel continued to skyrocket, surging 9.9 cents to $3.072 a gallon, according to data released by the Energy Information Administration on March 1.
• US Economy, Trucking Poised for Strong 2021, Economists Predict
  The U.S. economy and trucking are poised for a strong second half of the year and into 2022, now that a third COVID-19 vaccine has been approved.
• Crowley Maritime Promotes Dan Warner to Chief Financial Officer
  Crowley Maritime Corp. announced it promoted senior executive Dan Warner to chief financial officer and he will lead a consolidated finance group.