Freight Company Expects Loss: Consolidated Freightways Inc. said the recession and a continued decline in air freight operations would result in a loss of 45 to 55 cents per share in the third quarter ending Sept. 30. The Palo Alto-based company said it was hurt by the continued sluggish economy, which has increased competition throughout the trucking industry. A spokesman said the company would not estimate the third-quarter loss in terms of total net income. An earnings report will be released at month's end.
From Times Staff and Wire Reports
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