Addition of Long-Haul Less-Than-Truckload (LTL) Units Expands Heavyweight Service Portfolio for Customers FedEx completes acquisition of the LTL operations of Watkins Motor Lines and certain affiliates creating FedEx National LTL and FedEx Freight Canada. FedEx Corp. announced it has completed the $780 million cash purchase of the LTL operations of Watkins Motor Lines and certain affiliates. A privately held company based in Lakeland, Fla., Watkins Motor Lines is a leading provider of long-haul LTL services with more than $1 billion in annual revenue.
The operations of Watkins Motor Lines and Watkins Canada Express, Watkins' LTL carrier in Canada, which together include more than 140 service centers and more than 14,000 tractors and trailers, will be re-branded FedEx National LTL and FedEx Freight Canada, respectively. Re-branding of both operations will begin immediately. Read full story on this site.
source: shippingline.biz
FedEx Completes Acquisition of Watkins Motor Lines
Todays News..BIG “I” Praises Legislation to Extend National Flood Insurance Program
WASHINGTON, D.C., May 13, 2008—The Independent Insurance Agents & Brokers of America (the Big “I”) applauds Senate Banking Committee Chairman Chris Dodd (D-Conn.), Ranking Member Richard Shelby (R-Ala.) and the other members of the Senate, for passing the Flood Insurance Reform and Modernization Act (FIRM) of 2008.
The FIRM Act, introduced by Chairman Chris Dodd and Ranking Member Shelby, would help modernize and reform the National Flood Insurance Program (NFIP). It would reauthorize the program through 2013, and contains a provision that forgives the Federal Emergency Management Agency’s (FEMA) $20 billion debt to the U.S. Treasury.
“The Big ‘I’ applauds Chairman Dodd and Ranking Member Shelby for advancing this legislation in the Senate to help reform the flood program, making it more effective in serving consumers,” says Charles Symington, Big “I” senior vice president for government affairs. “We also recognize the importance of reauthorizing it through 2013 and adding the provision of forgiving FEMA’s debt, which is essential to the future of the National Flood Insurance Program and flood insurance consumers.” Read full story on this site.
source: insurancenewsnet.com
