Penske Truck Leasing refinances, extends partnership to 2023

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Penske Truck Leasing Co., LP (PTL) has announced completion of a series of transactions that include $700 million of new equity investments from its existing partners– Penske Corp., Penske Automotive Group and General Electric Capital Corp.– and a new $1.0 billion five-year unsecured senior credit facility established with a group of 17 financial institutions.  In…

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FMCSA issues rule to stop ‘reincarnated’ carriers – rule effective May 29, 2012

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A new Federal Motor Carrier Safety Administration rule establishes procedures for issuing out-of-service orders to “reincarnated” motor carriers in order to ensure that carriers who have a proven history of unsafe operations are not able to evade regulation by simply forming a new company or obtaining new registration. The rule establishes procedures that will provide…

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Lightweight, low-cab-forward LoadStar refuse truck on display

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Navistar showed off its International LoadStar lightweight, low-cab-forward refuse truck this week at Waste Expo 2012 in Las Vegas. The truck, which was officially unveiled at this year’s Mid-America Trucking Show, was built for severe-duty applications such as waste and recycling. “We talked to drivers to better understand their needs, what is missing from the…

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Manufacturing confidence bodes well for freight

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“Optimism regarding the U.S. economy among U.S. industrial manufacturers improved markedly during the first quarter of 2012, while views of the worldwide economy remain guarded, improving only modestly due to continued high levels of uncertainty.” –Barry Misthal, global industrial manufacturing leader for global consulting firm PricewaterhouseCoopers Sometimes in the rough-and-tumble world of freight you’ve just…

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