The Michigan trucking and logistics company cited higher employee benefit costs in reporting a third-quarter profit that came up short. Trucking firms, worried they cannot pay enough to retain drivers and recruit new ones, have been offering nonsalary inducements. Con-way’s net income fell to $25.3 million, or 45 cents per share, from $29.1 million, or 52 cents, a year earlier.
Con-way Inc. hurt by higher benefit costs
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