Swift Transportation’s 20,000 workers haul goods in almost 14,000 big-rig trucks that travel the interstates and back roads of the United States every day. The company’s performance is closely tied to the nation’s economy, which has been looking increasingly sunny lately.
So it was surprising last month when Swift’s stock plummeted nearly 18 percent in a single day. The tumble came for an odd reason. It wasn’t because there was too little business — but rather, too much.
July 28, 2014: UPS Teamsters in New York get featured in a story about workers taking on unwanted, excessive overtime.
OVERLAND PARK, Kan., July 31, 2014 (GLOBE NEWSWIRE) -- YRC Worldwide Inc. (Nasdaq:YRCW) today reported financial results for the second quarter of 2014.
Consolidated operating revenue for the second quarter of 2014 was $1.318 billion with consolidated operating income reported at $20.0 million, which included a $6.5 million gain on asset disposals. As a comparison, the company reported consolidated operating revenue of $1.243 billion for the second quarter of 2013 and consolidated operating income of $14.3 million, which included a $1.3 million loss on asset disposals.
July 31, 2014: James Hoffa yesterday imposed an “emergency” trusteeship over Local 710, and appointed Chicago Teamster boss John Coli as trustee.
Fort Smith-based ArcBest Corp. reported a 14-percent increase in revenue for this year’s second quarter led by performances at its two largest operating companies, ABF Freight and Panther Premium Logistics.
July 30, 2014: The Hoffa administration is escalating its attack on Teamster voting rights. Sign the petition to help defend the right to vote.
There might be something more interesting than a tennis ball in that FedEx package.
July 29, 2014: UPS made $454 million in after-tax profits and transferred liability for future retiree healthcare costs to Teamcare.
After a holiday shipping fiasco that left thousands of customers without packages in time for Christmas last year, United Parcel Service will invest $175 million in peak operations for the rest of 2014, the company announced Tuesday as part of its second quarter earnings statement.