Executive Briefing - July 2
- G.I. Continues Midwest Expansion
- After Three Months, Comair Flies Again
- Officials Investigate Two Calif. Trucking Cos.
- Swift, M.S. Carriers Complete Merger
- Study: L.A. Port Truck Traffic Will Double
- OPEC Expected to Maintain Supply Levels
- New Signs in Ark. Warn of Construction
- After Three Months, Comair Flies Again
G.I. Continues Midwest Expansion
G.I. Trucking has opened a new hub in Kansas City, Kan., as it expands efforts to initiate faster transit times across the Midwest.The new hub will help to decrease transit times to major cities such as Denver, Minneapolis, Chicago and Dallas by as much as one full day. G.l. has also increased its facilities to handle a greater number of shipments.
The Kansas City hub will serve as a connection point with G.I.’s three strategic partners in ExpressLINK -- Estes Express Lines, Lakeville Motor Express, and TST Overland Express.
G.I. Trucking is a subsidiary of Arkansas Best Corp., which is ranked No. 12 in the Transport Topics 100 list of U.S. trucking companies, based on 1999 data. Transport Topics
After Three Months, Comair Flies Again
Comair returned to the sky on Monday with its first flight since a strike by its pilots shut the regional airline down for three months, the Associated Press reported.Airline strikes can disrupt both dedicated cargo service and freight hauls in the bellies of passenger planes. Passenger planes carry 60% of all air cargo that is later transferred to trucks.
In other news, United Airlines said Monday it was in talks to terminate its $4.3 billion proposed takeover of US Airways Group Inc. because it believes antitrust regulators will scuttle the deal.
Officials Investigate Two Calif. Trucking Cos.
Federal and California officials are investigating whether the P&K Trucking company that recently went out of business has opened under a different name in order to avoid penalties, the Sacramento Bee reported.On June 19, the Federal Motor Carrier Safety Administration prohibited P&K Trucking from interstate commerce after the company failed to address a list of safety violations.
Authorities believe that newly-formed Capital Express Lines was set up by P&K officials to free the company from the shutdown order, $25,000 in fines from previous violations and an undisclosed fine in conjunction with the shutdown order.
Capital Express officials have denied that the companies are the same.
The article said that Capital Express purchased P&K equipment, used P&K drivers and the company was set up under the name of a former P&K partner's wife. Transport Topics
Swift, M.S. Carriers Complete Merger
Swift Transportation Co. (SWFT) and M.S. Carriers Inc. said they completed their merger late Friday, which concludes yearlong negotiations to ensure a smooth transition for both companies.Swift said it expects to generate over $2 billion in revenue for 2001.
Holders of M.S. Carriers stock will receive 1.7 shares of Swift stock for every one share of M.S.
M.S. has terminated registration of its common stock with the Securities and Exchange Commission and delisted from the Nasdaq National Market.
Swift is ranked No. 19 and M.S. Carriers No. 23 in the Transport Topics 100 list of U.S. trucking companies, based on 1999 data. Transport Topics
(Click here for full press release.)
Study: L.A. Port Truck Traffic Will Double
A new study by the ports of Los Angeles and Long Beach, Calif., predicts that truck traffic to and from the harbor will double in the next 20 years, the Daily Breeze newspaper reported.The number of cargo trucks is expected to grow from about 35,000 each day currently to nearly 83,000 by 2020. Total daily traffic – which includes cars and noncontainer trucks - is also expected to double.
These increases will create new challenges for the region's road and air quality, which already are among the worst in the nation.
A Los Angeles Port spokeswoman said harbor officials are already working on several clean-air initiatives, including alternate-fuel vehicles on cargo terminals and lowering the speed of ships — and therefore, emissions — on their way into the harbor. Transport Topics
OPEC Expected to Maintain Supply Levels
Since Organization of the Petroleum Exporting Companies representatives said that they see no need to increase oil supplies, they are widely expected to maintain current production levels at their meeting on Tuesday despite the potential continuation of the United Nation’s hold on Iraqi exports, Reuters reported.The slowing economy worldwide has decreased petroleum demands, according to OPEC President Chakib Kehlil, saving ministers from having to increase production to compensate for Iraq’s missing 5% of total petroleum exports.
OPEC has been successful throughout the year in maintaining its desired $25 per barrel for crude oil, despite fluctuating supply and demand.
The July 3 OPEC meeting coincides with the U.N. meeting that will determine sanctions over Iraq, possibly resulting in an extension of a three-to-six month oil-for-food exchange plan. Transport Topics
New Signs in Ark. Warn of Construction
Arkansas Gov. Mike Huckabee helped unveil last week one of the eight new signs across the state aimed to warn motorists of heavy summer construction.The signs read, “Think Ahead, There's a whole lot of paving going on,'' and were placed on interstates entering Arkansas at five locations and on three interstates exiting Little Rock, according to the Associated Press.
They will inform motorists of upcoming construction zone delays and will be updated daily. Each sign costs $5,000 and will post a radio frequency that motorists can access for road information, Highway Commissioner Carl Rosenbaum said.
On Interstate 40, there are 12 construction zones between Fort Smith and Little Rock and five zones between Little Rock and Memphis, Tenn. On Interstate 30 there are six zones between Little Rock and Texarkana. There are two zones between Memphis and Blytheville on Interstate 55 and one zone on Interstate 540 in Fort Smith.
