July 9, 2003 |
Trucking company Yellow Corp. said Tuesday that it would buy leading rival Roadway Corp. for $966 million in a bid to create one of the world's largest shipping companies. Yellow, the No. 1 U.S. shared-loads trucker, said it would pay $48 a share for No. 2 Roadway, half in stock and half in cash. Yellow, which has been expanding its transport businesses over the last half a dozen years, also will assume $140 million in Roadway debt. The merged company would be named Yellow-Roadway Corp.
July 6, 2001 |
Yellow Corp., operator of the nation's largest trucking company, plans to raise rates 4.9% on Aug. 1 to increase revenue during its peak shipping season. The increase applies to the Yellow Freight System trucking unit and affects customers whose shipping charges aren't set by contract, spokesman Roger Dick said. Roadway Corp. declined to comment on Yellow's increase.
September 22, 2005 |
Swift Transportation Co. Chairman and Chief Executive Jerry Moyes on Wednesday agreed to pay $1.3 million to settle a Securities and Exchange Commission suit accusing him of insider trading. Phoenix-based Swift is the nation's third-largest trucking company. Moyes bought 187,000 shares in the two days before the company announced better-than-expected earnings and a share buyback, making an unrealized profit of $622,130, the SEC said. The SEC launched the investigation of trades made in May 2004.
April 10, 2002
* Three car rental companies followed the two industry leaders in announcing they will eliminate base commissions to travel agents on certain accounts. Dollar Thrifty Automotive Group Inc. said its Dollar Rent a Car unit will cease paying base commissions on individually negotiated corporate and government accounts. ANC Rental Corp. said its National Car Rental and Alamo Rent-A-Car will do the same. * Russia said it may not lift a ban on U.S. chicken imports today as planned, because the U.S.
September 8, 2004 |
Rite Aid Corp., the third-largest U.S. drugstore chain, cut its annual sales and earnings forecasts because of increased competition from mail-order pharmacies. The company's shares fell 19%. Net income for its fiscal year ending Feb. 26 will rise to as much as $149.5 million, or 22 cents a share, down from a previous forecast of as much as $167 million, the Camp Hill, Pa.-based company said. Sales are now expected to increase to as much as $17 billion instead of $17.3 billion.
August 5, 2003 |
Railroad giant Union Pacific Corp. said Monday that it would sell its Overnite trucking unit in an initial public offering timed to exploit an improved cargo-hauling market and Wall Street optimism. Omaha-based Union Pacific did not disclose the expected price of the IPO, but a regulatory filing said Overnite's book value was about $600 million on Dec. 31. One analyst estimated Union Pacific might realize $500 million to $700 million from the IPO after expenses.