Swift founder Moyes to retire at year end
Jerry Moyes, founder and CEO of Swift Transportation Company of Phoenix, one of the nation’s largest truckload carriers, will step down December 31, the company reported yesterday. Richard Stocking, who joined Swift in 1992 and has served as Swift’s president and chief operating officer since 2010, will take over as president and CEO when Moyes retires.
Henry Albert named new chairman of Trucking Solutions Group
Trucking Solutions Group, truckers who work to better the industry, has announced the election of its new chairman, Henry Albert of Albert Transport Inc.
ABF Logistics acquires Nevada company for $25 million
FORT SMITH, Ark. — ABF Logistics has acquired Logistics & Distribution Services (LDS), a private logistics and distribution company headquartered in Sparks, Nevada, in a transaction valued at $25.0 million, subject to normal post-closing adjustments.
Celadon annual net income drops 33.2% on revenue increase of 18.3% from 2015
Celadon Group Inc. reported September 1 an 18.3 percent increase in revenue to $1.07 billion for the year ended June 30, 2016. But Celadon, one of the largest motor carriers in the U.S. with truckload, intermodal, expedited and other transport services, saw net income for the year drop 33.2 percent to $24.8 million from the year ended June 30, 2015.
FTR: August Class 8 orders lowest since 2010 but up 36% from July
August preliminary Class 8 truck orders increased 36 percent from the previous month to 14,000, but the total represents the weakest August since 2010, according to a report today from transportation analyst firm FTR.
Volkswagen Truck & Bus buying stake in Navistar for $256M
NEW YORK — Volkswagen Truck & Bus, an arm of the German automaker Volkswagen, is buying a minority stake in Navistar for $256 million.