A Japanese-based rail manufacturer is getting state financial help to start making railcars in northern Illinois. Officials say Nippon Sharyo U.S.A. will receive $12 million in the form of a state business investment package to supplement $35 million in private investment. Get the full story »
Filed under: Transportation
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Hub Group Q3 profit beats Wall Street view
Freight management company Hub Group Inc. posted a quarterly profit that beat market estimates, helped by strong growth at its intermodal segment. Get the full story »
Coyote Logistics to move to Chicago
From the Chicago Sun-Times | Coyote Logistics LLC, a Lake Forest-based logistics company employing 140 people, said it will relocate to Chicago’s North Side by mid-2011. The company said it also plans to add 160 jobs at its new, larger location within two years. Get the full story>>
Amtrak sets ridership, revenue records in U.S.
Stepped up business travel in the Northeast helped Amtrak boost ridership by nearly 6 percent to a record 28.7 million passengers in the fiscal year ended Sept. 30, the railroad said Monday.
Amtrak, the only long-haul passenger rail service in the United States, also said year-over-year ticket revenue rose by 9 percent to a record $1.7 billion for the period that began last Oct. 1. Get the full story »
Southwest traffic, passenger revenue rise in Sept.
Southwest Airlines Co. reported continued growth in September as a rebound continues in the travel and tourism sector.
Airlines have been posting increasing traffic and record portions of plane seats filled lately, after last year’s deep drop in demand in the recession and resulting capacity cuts. Get the full story »
U.S., Asia air alliances expected to win OK
U.S. regulators say they are likely to approve antitrust immunity for two major airline alliances carrying travelers to Asia.
The tentative approval from the Transportation Department on Wednesday would let American Airlines and Japan Airlines coordinate routes and schedules and share revenue on flights across the Pacific. A similar arrangement between United Continental Holdings Inc. and All Nippon Airways also won tentative approval. Get the full story »
New routes with American, BA, Iberia alliance
American Airlines, British Airways and Iberia have announced new routes as they launch their trans-Atlantic business on Wednesday.
The three airlines say that the tie-up will give customers more access to cheaper fares, bigger choice of flight times and easier connections. Get the full story »
Pritzker’s Triton rumored to be up for sale
Triton Container International Ltd., owned by Chicago’s Pritzker family, is up for sale, the latest attempt at selling the container leasing company that could be worth about $1 billion, several sources familiar with the matter said on Friday.
The auction is the latest in a series of asset sales by the Pritzkers, one of the wealthiest U.S. families. They have been selling assets after a 2001 settlement agreement, in which 11 heirs set a plan to break up the family fortune. Get the full story »
2-cent postage stamp increase denied
Christmas is not coming early this year for the U.S. Postal Service, after regulators denied a request Thursday that would have raised the price of a first-class stamp by 2 cents, to 46 cents.
The Postal Service argued that it needed the hike in order to cover lost revenue from a decrease in mail volume, stemming from the economic recession. Get the full story »
FedEx to raise rates on Express, freight
FedEx Corp , the world’s largest cargo airline, said it would raise shipping rates on its Express and Freight services as the company hosted investors at its Memphis headquarters on Wednesday. Get the full story »
Segway owner dies after riding Segway off a cliff
From MSNBC | A British businessman, who bought the Segway company less than a year ago, died after riding one of the scooters off a cliff and into a river near his Yorkshire estate. Jim Heselden acquired the Segway company from its U.S. inventor Dean Kamen in December 2009. Get the full story >>
Ban on texting by haz-mat haulers proposed
Targeting distractions behind the wheel, the Obama administration proposed Tuesday to bar truck drivers from sending text messages while hauling hazardous materials.
The requirements would complement separate rules being finalized by the Transportation Department that prohibit commercial bus and truck drivers from sending text messages on the job and restrict train operators from using cell phones and mobile devices on duty. Get the full story »
Sep. 15, 2010 at 11:30 p.m.
Filed under: Airplanes, International, Investigations, Manufacturing, Trade, Transportation, Updated Chicago headquarters cited in Boeing WTO loss
Boeing Co. received billions of dollars in illegal government subsidies, including $25 million in incentives that Illinois provided the plane maker to relocate its world headquarters to Chicago in 2001, a panel of the World Trade Organization determined.
The WTO report is confidential and was released to U.S. and European trade officials Wednesday. It is the first ruling in the second of dueling trade cases filed by the U.S. and European Union against each other last decade alleging that aircraft manufacturers had received unfair government support. Get the full story »
Sep. 15, 2010 at 10:26 a.m.
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Filed under: Defense, Manufacturing, Tourism, Transportation, Travel Boeing spaceship seats up for sale
Boeing has lined up a space tourism company to sell seats on the spaceship it wants to build to fly to the International Space Station.
Boeing says it has a deal with Space Adventures to market seats on the flights. Space Adventures currently sells seats on trips to the space station aboard the Russian-built Soyuz spaceship.
Agency OKs $314 million bonds for Navistar, others
The Illinois Finance Authority approved up to $314 million of tax-exempt revenue bonds on Tuesday for truck maker Navistar International Corp and others.
Navistar won final approval for $145 million of Recovery Zone Facility Revenue Bonds to help fund its new headquarters and research and development facility in Lisle, Illinois, and a warehouse in Joliet, Illinois.
To issue the bonds, Navistar must get allocations of the federal Recovery Zone Facility Bond volume cap from other Illinois counties and cities, according to the authority. Get the full story »
