Executive Briefing - Oct.23
- Greenspan Praises U.S. Financial System
- California Wraps Up Hazmat Training Program
- International Truck to Eliminate 400 Jobs
- Mail Disruption Can Affect Economy
- Scania to Combine Bus, Truck Chassis Production
- CDL Fraud Suspects Plead Not Guilty
- Toll Policies Changing at Peace Bridge
- Michigan Adopts Tougher Hazmat Rules
- California Wraps Up Hazmat Training Program
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Greenspan Praises U.S. Financial System
Federal Reserve Chairman Alan Greenspan praised the financial system of the United States on Tuesday, saying it operated with remarkable efficiency to minimize the fallout from the Sept. 11 terrorist attacks, news services reported.He said that United States is blessed with a financial system that is creative, flexible and innovative.
Speaking to the American Bankers Association, Greenspan noted that despite the uncertainty and communications problems in the hours after the attacks, the Fed began supplying record amounts of cash to the banking system so banks could meet withdrawal demands of businesses and customers. Transport Topics
California Wraps Up Hazmat Training Program
A 24-month statewide emergency response training program aimed at protecting the public in tanker-trailer truck crashes has been completed by the California Highway Patrol and the Western Propane Gas Association, it was announced Tuesday.The joint effort, funded by a $133,284 grant from the state Office of Traffic Safety, trained 1,700 state and local law officers, firefighters, paramedics, heavy-duty tow operators and hazardous materials officers.
Tanker trailers often carry hazardous materials such as propane gas (in liquid form), gasoline, diesel fuel, chlorine anhydrous ammonia and other chemicals.
The trainees were instructed on hazardous materials safety, cargo tank identification and construction, as well as the specific properties of liquid propane gas and the correct procedures for dealing with an emergency. Transport Topics
(Click here for the full press release.)
International Truck to Eliminate 400 Jobs
International Truck and Engine Corp., a wholly owned subsidiary of Navistar International Corp. will eliminate 400 jobs at a plant in Springfield, Ohio, on Nov. 19, the Associated Press reported.Spokesman Kyle Rose said the layoffs are due to a steep decline in demand for medium-duty trucks. Some of the employees, which will include union, nonunion and salaried personnel, may choose to retire.
In addition, the company said they will idle one assembly line at the plant for a week beginning Nov. 5, affecting 400 workers. Transport Topics
Mail Disruption Can Affect Economy
Despite the recent boom in communications technology, "snail mail" -- mail delivered overland -- remains an important part of the U.S. economy, and even a slight disruption in the delivery of letters and packages could turn into a big economic blow, the Wall Street Journal reported. John Nolan, deputy postmaster general, said at a meeting last week that the mailing industry is a $900 billion market, representing 8% of the domestic gross national product.
The Journal said any disruption caused by the anthrax scare could delay the nine million Social Security checks mailed out to the elderly each month and the timely delivery of holiday-shopping catalogs from retailers. It also would likely further undermine overall consumer confidence.
These problems would not only hurt U.S. Postal Service, but all shipping and transportation companies that are already struggling with a slow economy and less demand. Transport Topics
Scania to Combine Bus, Truck Chassis Production
Scania AB, Europe’s third-largest maker of heavy-duty trucks, said that it will combine bus and truck chassis production in an attempt to boost profits, Bloomberg reported.The Sweden-based company also plans to combine the product development, marketing and sales for both divisions.
The truck maker is going to form a new unit that builds entire buses, rather than just chassis, which are mainly aimed only at the European market. Transport Topics
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CDL Fraud Suspects Plead Not Guilty
Two suspects in an alleged fraudulent commercial driver license scam entered not guilty pleas last week in federal court, the Pittsburgh Post-Gazette reported.The two men, who legally emigrated from Iraq, were charged with fraudulently obtaining CDLs from a state examiner whom accepted bribes. They were both originally detained in Texas, on orders from a magistrate in that state for failing to provide personal information about themselves or their families in Iraq.
The two are among 20 Middle Eastern men that were indicted by a grand jury in Pittsburgh for obtaining CDLs by fraud. Eighteen of the twenty, including the two suspects also obtained permits to handle hazardous materials. The two, and a third man, are being held because they are considered a flight risk by the government.
Since the Sept. 11 terrorist attacks, greater scrutiny has been placed on the trucking industry, particularly on the way hazardous materials are handled. Transport Topics
Toll Policies Changing at Peace Bridge
Truckers using the Peace Bridge between Buffalo, N.Y., and Fort Erie, Ontario, are going to see some changes in the way tolls are collected, Truckline reported.One change is the launching of the E-ZPass collection system, a system already compatible with many toll agencies in the Northeast, in which truckers can buy prepaid electronic passes to speed traffic.
The system will be in place early in 2002.
In addition, tolls will be collected on westbound traffic going from Buffalo to Canada and an axle-based, rather than a weight-based, charge will be levied.
Commercial drivers utilizing E-ZPass will get a 10% discount on tolls, according to the Peace Bridge Authority. Transport Topics
Michigan Adopts Tougher Hazmat Rules
The Michigan Public Service Commission said Monday trucking companies that want to haul hazardous materials in the state will undergo closer scrutiny before they are licensed, the Detroit Free Press reported. The commission will now require more extensive background checks for hauling firms and their drivers, including criminal background checks and inspections of company facilities. A 10-year employment history for the applicants and drivers will also be conducted.
The article said however, these requirements will not apply to hauling firms already licensed in Michigan, or to the 43,000 individual drivers licensed to haul hazardous materials in Michigan.
The commission said these rules are in response to the discovery that a man being held by the FBI because of a possible connection with last month's terrorist attacks had a Michigan license to haul hazardous materials. Transport Topics
Tuesday's Earnings at a Glance
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