AIG Federal Reserve Board loan
Wednesday, September 17, 2008
Fed lends $85 billion to save AIG (Fleet Owner)"Believing that its failure would further weaken the financial market, the Federal Reserve Board has authorized the Federal Reserve Bank of New York to lend up to $85 billion to the American International Group (AIG). The Federal Reserve said that the loan would be repaid from the proceeds of the sale of parts of the firm’s assets, which will be sold off “in an orderly manner, with the least possible disruption to the overall economy,” with the U.S. Government receiving a 79.9% equity interest in AIG."
Other trucking and logistics industry news from Wednesday, Sept. 17, 2008:
Fleet Owner
OTC offers diagnostic software for Ford vehicles
Karmak updates Director Series software
Eaton names Aguerrevere to global marketing post
Bridgestone Bandag offers new fuel economy guide
Bulk Transporter
EPA reminder: Report storm spills
Refrigerated Transporter
U.S. Foodservice shutting two South Carolina sites
FHWA rejects PennDOT Interstate 80 toll proposal
Outsourced Logistics
DHL Executive Testifies on UPS Deal
Eurotunnel Freight Moving After Fire
Estes Launches Nationwide Brokerage
Ruan Hauls Hurricane Relief Supplies
A&B Acquires Warehousing & Distribution Company
Coalition Applauds Crackdown in the San Pedro Bay Ports
Army Reserve Joins Schneider National in Employer Partnership
A Bed To Sleep In
Port of Montreal Reports High Growth
The Highway Trust Fund Gets an $8 Billion Fix
LA Port Truck Plan Passes Another Hurdle
Salary Budgets Projected Below 4% for 2008 and 2009
Container Volumes Could Drop By 6%
Paint Me Green
ABF Speeds and Expands Its Regional Service
Trailer/Body Builders
Firestone To Close Noblesville Air-Spring Plant
Cummins Recognized as Sustainability Leader
NTEA Expands Green Truck Summit, Exhibits and Activities
Blogs
Forgetting the doing
"There’s a couple of reasons I think we’re racing pell mell over the edge of reason and financial ruin right now in the U.S. (the federal government just loaned American Insurance Group over $80 billion so it could stay in business – an INSURANCE company in need of a loan to stay afloat! There’s some rich irony)"
$100 million going towards transportation-reloading terminals on Kazakhstan/China border (Cargo News Asia)
A logistic zone is planned for the border of Kazakhstan and China. There will be transportation-reloading terminals, which accounts for US$100 million investment, commerce exhibition areas, hotels infrastructure and a centre for business cooperation, according to China Economic Review.
European Union gives support to Nabucco pipeline (Kommersant)Since the war in Georgia, the search has heated up for energy sources and routes to transport them on without passing through Russia. Last weekend, leaders of Eastern European countries called on Europe to end its dependency on Russian energy sources, and the European Union made an important step in that direction when Greece reached an agreement on the direct supply of Azerbaijani natural gas to Europe, Baku and Ashgabat gave their support to the Nabucco pipeline and Hungary announced a forum to finalize that project, which would deliver gas while bypassing Russia.
Australian trucks forced to detour 6.8 km due to railway crossing (Daily Liberal)
Key stakeholders are involved in a push to solve big problems associated with a single stop sign at the railway crossing in Boothenba Road. They want part of the Coonamble to Dubbo rail track curved and repositioned or a rail bridge installed to improve access to the Dubbo Regional Livestock Markets.
posted by benmcclanahan @ 3:17 PM,
1 Comments:
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