News Briefs - Dec. 10
The Latest Headlines:
- Iowa Troopers Checking Trucker Logbooks
- Bush Nominates Donaldson to Head SEC
- Possible New Venezuela Elections Push Oil Prices Lower
- Polar Debuts Service to Hawaii
- Multifoods Changes Name to Vistar
- Central Transport Opens New Customer Centers
- Delphi Sees Better 2003
- Bush Nominates Donaldson to Head SEC
Iowa Troopers Checking Trucker Logbooks
State troopers in Iowa are checking logbooks of truckers to try and prevent driver fatigue, Des Moines television station KCCI reported Tuesday.Troopers are looking at the books to see if truckers in that state are adhering to government rules regarding hours-of-service for commercial drivers, the station said.
Iowa now has a dozen troopers stationed around the state specially trained to spot fatigued drivers behind the wheel. Transport Topics
Bush Nominates Donaldson to Head SEC
President Bush nominated Wall Street insider William Donaldson to takeover as the chairman of the Securities and Exchange Commission in a televised press conference Tuesday.Donaldson co-founded the investment banking firm Donaldson Lufkin & Jenrette in 1959 and was the chief executive officer of the New York Stock Exchange from 1990 to 1995, MSNBC said.
Donaldson, if confirmed by the Senate, would replace the current chairman, Harvey Pitt, who resigned Nov. 5 over controversy about his managing appointments to a new accounting oversight board. Transport Topics
Possible New Venezuela Elections Push Oil Prices Lower
Venezuela President Hugo Chavez said he may call for new elections to end a general strike in his trouble, oil producing, South American country, Bloomberg reported Tuesday.The country has been in the throes of a strike since Dec. 2, and that strike has interrupted oil shipments from the world’s fifth-largest oil producer, Bloomberg reported (Click here for related coverage.).
The strikers have called for the ouster of President Chavez, whose administration has already survived a two-day coup in April and a new general election could lead to that change.
The news of possible new elections pushed the price of crude oil down about 1.1% to $26.90 a barrel.
Motor fuels like diesel and gasoline are products of crude oil, and changes in its price can be passed on to consumers at the pump. Transport Topics
Polar Debuts Service to Hawaii
Polar Air Cargo Inc. said Tuesday that it is starting new scheduled airfreight service between Los Angeles and Honolulu, Hawaii.The new service will operate flights to Honolulu five days a week, Tuesday through Saturday. The cargo carried by the Long Beach, Calif.-based carrier will be mostly U.S. Postal Service mail and perishable goods.
"We look forward to this further development in the growth of Polar's worldwide network and the ability to expand service for Hawaiian shippers to the mainland," said Peter Burn, vice president of the Americas at Polar. "We see this service satisfying the needs of domestic shippers and forwarders both to and from Hawaii."
Polar is a wholly owned subsidiary of Atlas Air Worldwide Holdings Inc. Atlas Air is based in Purchase, N.Y. Transport Topics
(Click here for the full press release.)
Multifoods Changes Name to Vistar
Multifoods Distribution Group, a conglomerate of distributors serving vending machine and independent pizza restaurants, said Monday it has officially changed its name to Vistar Corp.Operating under the name Vistar/VSA, the company is based in Denver and operates 27 distribution centers around the country.
Vistar, under the name Multifoods Distribution, was ranked No. 39 on the 2002 Tranport Topics Private 100 listing of the largest private trucking companies in the United States and Canda. Transport Topics
(Click here for the full press release.)
Central Transport Opens New Customer Centers
Central Transport, in a move to improve its service in the south central United States, announced the opening of five new customer service centers in Louisiana, Oklahoma and Texas.The new terminals are located in Lawton, Okla.; Monroe, La. and Abilene, Corpus Christi and Odessa, Texas.
The Warren, Mich.-based company was ranked No. 77 in the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
(Click here for the full press release.)
Delphi Sees Better 2003
Auto parts maker Delphi Corp. said that it expects increasing sales and cost cuts to increase profits to $600 million in 2003.The company expects its earnings per share to rise to $1.06 a share, including its restructuring costs, the company’s chief financial officer, Alan Dawes, said.
The company said it expects sales for 2003 to rise to $28 billion from an estimated $27.3 billion this year.
Delphi, a former division of General Motors Corp., has been restructuring and trying to increase sales outside of its former parent company. The company has also been engaged in an aggressive cost-cutting program highlighted by factory closures and job cuts, Bloomberg reported. Transport Topics
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