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Your Sept. 3 Pre-Trip: Economy to lose $1.4B over Labor Day

Sept. 3, 2015

A U.S. Travel Association study has found that infrastructure problems will cost the nation’s economy $1.4 billion this Labor Day weekend.

Cristina Commendatore

Here are five things worth knowing today: 1. A U.S. Travel Association study has found that infrastructure problems will cost the nation’s economy $1.4 billion this Labor Day weekend, according to The Hill. AAA projects 35.5 million U.S. residents will travel at least 50 miles away from home this holiday weekend. The study explained that number could have been even higher had Congress passed a long-term transportation funding measure this summer. According to the report, the country’s failing infrastructure will keep 4.1 million potential travelers at home, costing the economy $1.4 billion in spending. 2. The Federal Highway Administration will hold a Talking Freight Seminar on Sept. 16 that provides information on the current state of freight logistics in the country. The seminar will examine current freight transportation infrastructure needs and how supply chain companies need to balance freight transportation demand trends with freight infrastructure availability and quality. Register here for the seminar. 3. Navistar on Wednesday reported its 12th straight quarterly loss, Today’s Trucking reports. The company reported its loss expanded during the third quarter to 34 cents per diluted share. According to the report, this compares to a net loss of $2 million a year earlier. Today’s Trucking has more. 4. Missouri’s DOT is in the process of evaluating ideas from the public for ways to build and repair I-70, according to Missouri Net. I-70 is an aging interstate that spans between Kansas City and St. Louis. According to the report, all suggestions are needed, and two standout ideas include solar roadway technology and advertising on right of ways. 5. U.S. Risk Insurance Group and Strategic Program Managers announced they have partnered, according to Insurance Journal. According to the report, the combined volume in this class will exceed $60 million. Insurance Journal has more.