Planners of the Southwest light-rail project in Minnesota are facing another legal challenge, this time from a freight rail company that is slated to share a portion of the nearly 15-mile route between Minneapolis and Eden Prairie.
If you see prices creeping higher for everything from cereal to socks in the next few months, you can probably blame this stark reality: There aren’t enough truck drivers delivering the goods to stores.
Old Dominion Freight Line Inc. reported total revenue for the first quarter increased by more than 22% to $925 million, the first time quarterly revenue exceeded $900 million in the company’s history. In 2017, first-quarter revenue was $754 million. Old Dominion said this is the fourth consecutive quarter of double-digit revenue growth.
As the U.S. economy and truck tonnage continue to power forward, trucking companies are enjoying the benefits of a hot freight market where their services are in high demand. At the same time, tight hauling capacity is making it tougher for shippers to find the trucks needed to transport their goods.