Bad news causes stock in Jeffboat parent to sag

June 19, 2007
American Commercial Lines Inc. shares fell nearly 10 percent yesterday to close at $24.50 after the Jeffersonville barge builder over the weekend and yesterday explained concerns it reported last week.

Grain shipments fell because the company didn't compete for some low-priced shipments, and overtime pay shot up as 400 new workers are trained to boost barge production at its shipyard, The Courier-Journal of Louisville reported.

The stock traded near $40 in February.
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