A.M. Executive Briefing - Feb. 15
This Morning's Headlines:
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New Jersey Truckers End Protests
A New Jersey port truckers' protest ended Monday after truckers and terminal operators met for three hours; truckers and terminal operators were optimistic that some problems can be resolved.American Stevedoring general manager Don Hamm said the management representatives at the meeting vowed to do whatever possible to address the drivers' issues. Port Authority of New York and New Jersey spokesman Dan Maynard said "parties have agreed to work together on all issues."
Volvo Ready for Merger Concessions
Volvo said it would give concessions to gain European Commission backing for the planned Scania acquisition; it is willing to talk about opening its Nordic dealership network to competitors, said CEO Leif Johanssen. Competition commissioner Mario Monti believes it appropriate to consider the market share the combined entity would have in individual nations rather than all of Europe.With a March 23 deadline for its final decision, the EC is looking especially at the share the group would have in the truck markets in Sweden and Scandinavia and the bus markets in the United Kingdom and Ireland. Financial Times (02/15/00) P. 32; Brown-Humes, Christopher
Florida Truckers' Boycott Paralyzes Miami Cargo-Handling Facilities
With independent port truckers in south Florida continuing their work stoppage into a second week with no end in sight, the Port of Miami is seeing little movement and thousands of idle containers.Ships are reportedly being diverted to other ports. Fort Lauderdale's is open and moving without a substantial container backlog, but has suffered a slowdown because of insufficient drivers, said port spokeswoman Janice Kimmel.
Inability to receive deliveries is hurting the region's economy; lumber products importer Foreverwood had four containers sitting at the port and was considering using another port for ships coming from Brazil, said company President Tom Youdell. He also said some drivers fear others will retaliate if they pick up the containers.
Commuters were stymied Monday morning by a convoy of 25 trucks bearing signs and honking horns; about half a dozen parked dump trucks tied up traffic in the same area later. One possible reason why south Florida is being hit by work stoppages, instead of just fuel-price protests, is that independents there have many other issues, such as trouble getting into the port and expensive insurance.
Owner Operator Independent Drivers Association executive vice president Todd Spencer said a reason why it is tough to solve the independents' problems is that everyone other than the independent drivers has benefited from decreased inflation and distribution costs due to the drivers' lower pay. Miami Herald (02/15/00); Fields, Gregg; McNair, Jim
Truckers Plan Gas-Protest Demonstrations Today
Quebec independents were expected to turn up the heat Tuesday on the provincial government regarding the diesel price spike by demonstrating at top manufacturers and retailers. The truckers are unhappy with the government's proposals for fighting the price rise but are not impeding roadways as in earlier protests. Montreal Gazette (02/15/00) P. A5Bestroute.com Signs Pact With UPS Logistics
Business-to-business e-commerce company bestroute.com, which will go online in April specializing in hard-to-find items, has contracted with UPS Logistics Group for warehousing, fulfillment, turnkey distribution, and shipping management. The UPS Logistics and Technology Center at the carrier's top U.S. air hub in Louisville will house bestroute.com's inventory, which will eventually include equipment such as heating, plumbing, and air conditioning items. Journal of Commerce (02/15/00) P. 6AmeriServe Names New President
Major food distributor AmeriServe Food Distribution, which filed for Chapter 11 Jan. 31, appointed former RailTex Chairman, President, and CEO Ronald Rittemeyer to the post of president. Among Rittemeyer's previous posts was President and COO of truck-rental firm Ryder TRS. Former AmeriServe President John V. Holten, who grew the company via acquisitions, remains chairman.According to analysts, AmeriServe's problems stem from an inability to handle a pair of large 1997 and 1998 acquisitions; it is now operating with the help of a $150 million credit line from Burger King and Tricon Global Restaurants. Newsday (Long Island/Queens, N.Y.) Online (02/14/00)
Smithway Revenue Up, Earnings down
Smithway Motor Xpress said it saw $48.5 million in fourth-quarter operating revenue, up 8.4%, as net earnings slid from $1.6 million to $290,000. Full-year operating revenue was $196.6 million, up 22%, with net earnings falling from $5.3 million to $3.9 million. TruckingInfo.com (02/14/00)© copyright 2000 INFORMATION, INC. Terms of Service
