News Briefs - Jan. 8
The Latest Headlines:
- Yellow CEO Expects to Reach Deal with Union
- OPEC Schedules Emergency Meeting for Weekend
- FedEx Named One of the Best Employers
- Roadway Names Hickerson President of Next Day Unit
- NATSO Schedules Annual Show for February
- OPEC Schedules Emergency Meeting for Weekend
Yellow CEO Expects to Reach Deal with Union
William Zollars, the chief executive officer of Yellow Corp. said that he expects his company to reach a deal with the Teamsters union before their current labor agreement expires on March 31, Bloomberg reported.Zollars made the comments during an interview on Bloomberg Television. Yellow and three other trucking companies have been talking to the union since last year because they fear the dip in business that could be caused by labor strife, Bloomberg said.
In 1998, the Overland Par, Kan.-based company posted a loss in the first quarter after a possible strike scared customers to nonunion drivers, Bloomberg said.
Yellow Corp. was ranked No. 6 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
OPEC Schedules Emergency Meeting for Weekend
Members of the Organization of Petroleum Exporting Countries said they will meet Sunday to discuss possible boosting oil output to fill supply shortages caused by the strike in Venezuela, Bloomberg reported.The meeting was called because the oil officials from the 11-member group have been unable to reach a consensus on how exactly best to handle the shortfall caused by Venezuela, Bloomberg said.
The benchmark price for oil has been above OPEC’s target range of $22-$28 per barrel for a 15th straight day, Bloomberg said. OPEC has mechanisms in place to boost production if the price stays above the range for 20 consecutive days.
OPEC officials have been debating production increases of various sizes, with some members favoring a boost as small as 1 million barrels a day and as large as 2 million barrels per day. Transport Topics
FedEx Named One of the Best Employers
Express package delivery company FedEx Corp. was named one of the top 100 employers to work for by financial magazine Fortune.The Memphis, Tenn.-based company was listed No. 72 by Fortune, which cited high starting pay for couriers and the high percentage of managers that started with the company in nonmanagement passengers.
FedEx is ranked No. 2 on the 2001-02 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
Roadway Names Hickerson President of Next Day Unit
Roadway Corp. said that T. John Hickerson will be joining the company as president of its Roadway Next Day Corp. unit effective Jan. 19.Hickerson will be responsible for overseeing Roadway’s next-day delivery business, including New Penn Motor Express, the Akron, Ohio-based company said.
Prior to joining Roadway, Hickerson has been the president and chief executive officer of Con-Way Transportation Services’ Con-Way Southern Express unit.
Roadway also announced the retirement of Ken Leedy as president of its next day business group and chairman of New Penn. Leedy will stay on at New Penn until his retirement on May 31 – his 43rd anniversary with the company.
Roadway is ranked No. 7 on the 2001-2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
(Click here for the full press release.)
NATSO Schedules Annual Show for February
NATSO, the trade organization for the U.S. truck stop industry, said on its Web site that its annual show has been scheduled for Feb. 6 and 7 in Orlando, Fla.The NATSO Show 2003 will be held at the Gaylord Palms Resort & Convention Center, the group said.
In addition to the truck stop and travel plaza industry’s largest trade show, the show will feature several educational seminars and open forums. Transport Topics
