Freight Transportation Services Index fell 0.7 percent in September from its August level, declining for the fifth time in the last six months, the U.S. Department of Transportation’s Bureau of Transportation Statistics reported. The September fall was the largest decline since November 2006 and the sixth decline this year. At 108.1, the Freight TSI is at its lowest level since January 2004 and is down 4.5 percent from its peak of 113.1 achieved in November 2005.
Ryder Integrated Logistics dropped its protest of a $1.6 billion Defense Transportation Coordination Initiative contract award to Menlo Worldwide Government Services. Ryder had alleged that freight management technology to be used by Menlo subcontractor One Network was untested and was released six days after the contract was awarded.
House Transportation and Infrastructure Committee approved legislation (H.R. 3999) that would authorize $2 billion to identify and rehabilitate structurally deficient bridges across the United States and reform bridge management practices.
New York Gov. Eliot Spitzer dropped his proposal to allow illegal immigrants to obtain driver’s licenses.
Chrysler plans to cut 8,500 to 10,000 hourly jobs through 2008 and reduce salaried employment by about 2,100, reducing its work force by as much as 15 percent. The new round of cuts comes in addition to 13,000 layoffs Chrysler announced in February as part of a major restructuring.
Old Dominion Freight Line said Chairman and Chief Executive Officer Earl Congdon, 76, plans to retire from his duties as CEO, effective Dec. 31. He will continue as executive chairman. David Congdon, currently president and chief operating officer, will become president and
CEO. Executive Vice President John Yowell will add COO to
his title.
Pacer International announced that its president, Tom Shurstad, left the company to pursue other interests. Don Orris, retired chief exe-cutive officer and current director of the Concord, Calif.-based company, assumed the role of president of its intermodal segment.
