News Briefs - Jan. 7
The Latest Headlines:
- New Congress Opens Under GOP Control
- McCain, Lieberman to Push for Emissions Restrictions
- Schneider Logistics Inks European Deal with Kimberly-Clark
- OPEC May Add 2 Million Barrels to Quota
- Tradami Logistics Changes to LynnCo Supply Chain
- Hino, Isuzu May Cooperate on Parts
- GM Wants Isuzu to Focus on China
- FAA, Controllers Extend Contract
- Air Transport Association Taps May as New Chief
- Wabash National Reduces Debt by $100 Million in 2002
- Exide Technology Names Vignolo CFO
- McCain, Lieberman to Push for Emissions Restrictions
New Congress Opens Under GOP Control
The Republican Party took control of the House of Representatives and Senate Tuesday, swearing in new leaders that vowed to act quickly on the agenda set forth by President Bush, the Associated Press reported.New House and Senate members were sworn in shortly after noon, AP said, and after those new members officially took office, the Republicans took slim margins in both the House and Senate.
Newly elected Senate Majority Leader Sen. Bill Frist (R-Tenn.) presided over the passage of an extension of unemployment benefits just two hours after getting sworn in. The extension was part of President Bush’s economic stimulus plan (Click here for related coverage.).
McCain, Lieberman to Push for Emissions Restrictions
Sens. John McCain (R-Ariz.) and Joseph L. Lieberman (D-Conn.) said they would unveil a plan this week requiring reductions in emissions of carbon dioxide and other suspected greenhouse gasses, the Washington Post reported Tuesday.The move sets up a possible showdown between McCain and Lieberman and the Bush administration and the new chairman of Senate Environment and Public Works Committee, Sen. James M. Inhofe (R-Okla.). The Post reported that both Inhofe and the Bush administration favor voluntary caps on emissions as opposed to mandatory limits.
McCain, the chairman of the Senate Commerce, Science and Transportation Committee, has scheduled a hearing on the matter for Wednesday and intended to send legislation to the Senate floor later in 2003, aides told the Post.
The legislation would put mandatory caps on emissions of carbon dioxide and five other suspected greenhouse gases from industrial and transportation sources, limit such emissions to 2000 levels in 2010 and 1990 levels in 2016, the Post reported. Transport Topics
Schneider Logistics Inks European Deal with Kimberly-Clark
Schneider Logistics Europe said Thursday that it has reached a deal to provide supply chain management technology to Kimberly-Clark Europe.The deal extends the relationship between Schneider and Kimberly-Clark across the Atlantic, the Green Bay, Wis.-based transportation company has been working with Kimberly-Clark for more than 15 years in the United States.
Kimberly-Clark Europe is a division of Kimberly-Clark Corp., a consumer product company manufacturing tissue, personal and health care products.
Schneider Logistics Europe is a division of Schneider National Corp., which is ranked No. 9 on 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.)
OPEC May Add 2 Million Barrels to Quota
With oil prices continuing to stay above its target price range, the Organization of Petroleum Exporting Countries may boost its daily output by as much as 2 million barrels, officials told Bloomberg News Tuesday.Crude oil prices have been flirting with two-year highs, Bloomberg said, because of continued concern about a possible war with Iraq in the oil-rich Middle East and the strike in Venezuela that has reduced overall oil shipments.
Escalating oil prices have contributed to higher fuel costs (Click here for related coverage.).
OPEC officials are still discussing a quota increase and should render a decision by Jan. 14, Bloomberg said.
At the close of trading Monday, OPEC’s basket price was above its $22 to $28 range for a 14th straight day. OPEC has a mechanism to boost production if oil prices stay above the range for 20 consecutive days – Jan. 14 would be the 20th day. Transport Topics
Tradami Logistics Changes to LynnCo Supply Chain
Tradami Logistics said Monday that it was changing its name LynnCo Supply Chain Solutions Inc., effective immediately.The new name, the company said, is more closely aligned with the LynnCo’s corporate identity and service offerings.
Based in Tulsa, Okla., LynnCo is a privately held supply chain management firm. Transport Topics
(Click here for the full press release.)
Hino, Isuzu May Cooperate on Parts
Hino Motors Ltd. and Isuzu Motors Ltd. cooperate to supply each other with engine parts and axles to cut costs by as much as 20%, Bloomberg reported Tuesday.Hino, Japan’s largest truck maker, may purchase parts from Isuzu affiliates and Isuzu would do the same, Bloomberg said, citing a report in a Japanese newspaper.
The report said the two companies may cooperate at the manufacturing stage, but would not use common parts, according to Bloomberg.
During 2002, truck sales fell 21% in Japan, Bloomberg said, leading several truck makers to implement cost-cutting measures. Transport Topics
GM Wants Isuzu to Focus on China
Isuzu Motors Ltd. should focus its truck making efforts in China to regain its profitability, a General Motors official told Bloomberg.GM, which owns 12% of Isuzu, said it wants to tap growing demand in China for heavy trucks by producing vehicles in the world’s most populous country, Bloomberg reported.
The Japanese vehicle maker has posted three straight years of losses, raising concern at GM, Bloomberg said.
Isuzu, GM and Shanghai Automotive Industry Corp. are currently in talks to form a joint venture to manufacture heavy-duty trucks, Bloomberg said. Transport Topics
FAA, Controllers Extend Contract
The Federal Aviation Administration and the National Air Traffic Controllers Association agreed to extend their contract another two years, the Washington Post reported Tuesday.A labor dispute between the two sides could have disrupted airfreight shipments across the country.
Under the extension, the union agreed to not seek pay raises, while the Bush administration said it would not try to take away provisions of the previous contract, the Post reported.
Recently, the controllers’ union had been wary that Bush administration would try to privatize air traffic control functions, the Post reported. Transport Topics
Air Transport Association Taps May as New Chief
The Air Transport Association of America Inc. said Monday that its board of directors has appointed James C. May to be its new president and chief executive officer, effective Feb. 3.May will replace the retiring Carol B. Hallett, ATA said in its release.
Since 1988, May has been the executive vice president of the National Association of Broadcasters, ATA said. Richard Anderson, chairman of ATA’s executive committee and CEO of Northwest Airlines, said that May distinguished himself at NAB by developing bipartisan support for a wide range of legislative initiatives.
ATA is the trade association for leading U.S. airlines. Based in Washington, the group said that its members carry 95% of all passenger and cargo air traffic in the United States. Transport Topics
Wabash National Reduces Debt by $100 Million in 2002
Trailer manufacturer Wabash National Corp. said Monday that it reduced its total debt by $100 million in 2002.The Lafayette, Ind.-based company also reached a liquidity level of $75 million, up from the $24 million in cash on hand and available credit the company had at the end of 2001.
Mark R. Holden, Wabash's chief financial officer said the company made progress toward better managing its debt situation and would continue working to "strengthen our financial condition." Transport Topics
(Click here for the full press release.)
Exide Technology Names Vignolo CFO
Exide Technologies Inc. said that it has appointed Baigio N. Vignolo Jr. is its new executive vice president and chief financial officer.Before joining the vehicle battery manufacturer, Vignolo held the same position at Sun Chemical Corp.
Vignolo is a Certified Public Accountant and received his undergraduate degree from Rider University. Transport Topics
(Click here for the full press release.)
