A.M. Executive Briefing - Dec. 12
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U.S. National Diesel Average Lowest Since August
The U.S. national average diesel price dropped 4.5 cents to $1.58 per gallon last week, the lowest since the week of Aug. 28, when the price per gallon was $1.53, the Department of Energy reported Monday.The downward trend was apparent in all areas of the country. The lowest price was in the Gulf Coast region, where the diesel price was $1.51 per gallon. The highest price was in California, where the per-gallon diesel price was $1.83. Transport Topics
Chicago-Area Interstates Slippery in Wake of Blizzard
A huge winter storm on Monday left its mark in parts of the Midwest, leaving as much as a foot of snow in Chicago. Five more inches of snow was expected Tuesday in southern Michigan and northern Indiana, which already had a foot on the ground, the Associated Press reported.
O'Hare International Airport, a major cargo hub, will not be back to normal until Wednesday, nor will Midway Airport, the story said.
Power failures hit several cities in Iowa, along with 10,000 power customers in Indiana and 4,000 in Illinois.
Delphi Component Plant Expansion Hinges on Tax Credit
A Delphi Automotive Systems Corp. (DPH) plant that makes steering systems for light- and medium-duty trucks will get a $315 million expansion if Michigan approves a tax credit, Bloomberg News reported Monday.Delphi Saginaw Steering Systems employs about 7,500 workers and makes about 15,000 gears a day, the news service said.
General Motors Corp. (GM) is Delphi's largest customer, as well as its former parent. Transport Topics
U-Haul Ordered to Pay Ex-Employee for Discrimination
A federal appeals court on Monday ordered truck-rental company U-Haul to pay a Maine woman $300,000 for sex discrimination, Bloomberg reported.The case involves a former employee who alleged that U-Haul would not allow her to hitch trailers to trucks because she is a woman. She was subsequently fired, the report said.
The first U.S. Circuit Court of Appeals in Boston ruled that the woman is entitled to $15,000 compensatory damages and $285,000 in punitive damages. Transport Topics
Isuzu Appoints New Head
Japanese heavy-truck maker Isuzu Motors announced Tuesday that it will appoint Yoshinori Ida as its new president and chief operating officer, Reuters reported. Kazuhira Seki will remain chairman and chief executive officer, while the current COO, Takeshi Inoo, will become vice chairman effective December 14.b>General Motors Corp. (GM) owns 49% of Isuzu. The company said it appointed Ida to help implement a plan to reduce Isuzu's debt. Transport Topics
General Motors to Double Stake in Suzuki
General Motors Corp. (GM) is planning to double its stake in Japanese sport-utility maker Suzuki this January, Bloomberg reported Tuesday.Through a Canadian subsidiary, Detroit-based GM will buy 51.56 million shares in Suzuki for $10 per share, the story said. The purchase is part of GM's plan to expand in Asia.
The purchase will give GM a 20% stake in Suzuki and a seat on its board. Transport Topics
Ford Recalls Explorers for Speed Problem
Ford Motor Co. (F) once again recalled its Explorers - popular with municipal and utility fleets - after the company discovered a defect in a chip that is supposed to limit the vehicle's speed, the Associated Press reported Monday.A defective computer chip in Explorer's 1999 and 2000 models may allow the vehicle to go faster than 112 miles per hour, the maximum rated speed of the original tires, the article said. The chip is supposed to keep the vehicle's top speed at 106 mph.
The glitch is possible in vehicles with 3.27 or 3.55 rear axle ratios with 15-inch Firestone tires. Ford's Mercury Montaineers may also encounter this problem.
So far, the problem has caused no deaths or injuries, the article said. This is the second recall of Ford Explorers in December, the wire service noted. Transport Topics
Headlines From Yesterday's P.M. Briefing
- Racial Allegations Hit American Freightways
- Energy Shortages Hitting Factory Production in Canada, Mexico
- Shareholders Sue to Stop American Freightways Sale
- Indian Postal Strike Boosts Private Sector Deliveries
- Midwestern States Brace for Blizzard
- Analyst Gets Temp Insight at Amazon.com
- Patriot Transportation Reports Decreased Earnings
- Con-Way Southern Opens Freight Handling Center
- Arkansas to Build Stretch of I-49
- Bad Persian Gulf Weather Keeps Oil in Iraq
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