The U.S. economy is more than likely headed for a recession due to to high fuel costs, interest rates and the housing crisis, the top executive of North America's largest trucking company said on Wednesday.
"The odds are now probably better than 50-50 that we will see a textbook definition recession of two consecutive quarters of negative economic growth," YRC Worldwide Inc Chief Executive Bill Zollars told Reuters in a telephone interview.
Zollars added that the company's freight volumes appear to have hit bottom, "but the question is how long we're going to stay there." Full Story...
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