December 18, 1998 |
Shares of Consolidated Freightways Corp., one of the largest U.S. trucking companies, fell nearly 18% after it broke off merger talks with an unidentified company. Shares fell $3.13 to close at $14.63 on Nasdaq. It rose 6.4% on Wednesday on speculation it might be weighing a possible combination with rival carrier Yellow Corp. Menlo Park-based Consolidated confirmed it had been in talks with an unnamed party, adding that no agreement was reached. Yellow executives declined to comment.
April 9, 1998 |
Members of the Teamsters ratified a new five-year contract with the nation's long-haul trucking companies, the union and an industry association said. The contract, approved by 70% of the voting members, features pension and benefit improvements, a $750 bonus in the first year, and 35-cents-an-hour wage increases over the next four years--so that senior drivers will make $19.86 an hour by the final year.
April 13, 1999 |
America West Holdings Corp.'s America West Airlines Inc. said President Richard Goodmanson resigned and Chairman and Chief Executive Bill Franke assumed the post. America West reorganized the unit into two groups, operations and corporate. Gilbert Mook, 56, former senior vice president of air operations at FDX Corp., will head the operations group as executive vice president and chief operating officer. W.
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.
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.
September 25, 1997 |
The sudden departure of the Teamsters' election overseer leaves unsettled the political future of the union's president, Ron Carey, and could delay the rerun vote for the leadership of the nation's biggest private-sector labor organization. Barbara Zack Quindel, the court-appointed election officer, recused herself late Tuesday from the investigation into Carey's reelection victory last year over challenger James P. Hoffa.