A.M. Executive Briefing - Jan. 12
This Morning's Headlines:
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Truck Drivers' Internet Usage Jumps in 1999
The company 1-800-DRIVERS reports an increase in truckers using the Internet in their job searches in 1999. The company says applications processed rose 349% between 1998 and 1999 and calls to the 1-800-DRIVERS Jobline rose to 208,871 from the 1998 figure of 198,924. Land Line Magazine Online (01/12/00)Canadian Trucking: Driver Shortage Growing Worse
The Canadian government agency Statistics Canada lately issued a study depicting the Canadian trucking industry's driver shortage and aging workforce.
The report predicts that when many of the 55-and-older truckers retire or reduce their long-distance work by 2005, they will be replaced by workers 25 or older. For-hire carriers have the fewest young drivers, with only 5% of them under 25 as of 1998, and the for-hire segment employs slightly over 50% of the country's truckers.
Each week, salaried drivers worked approximately 50 hours on average, with some 20% of them working at least 60 hours, while self-employed truckers averaged 52 hours. One in three for-hire drivers had 60 hours' work or more a week, and many of them were destined for, or driving through, the United States.
Although the average for-hire truckers' hourly wage of $9.62 (C$13.94) was only a bit higher than that for construction or clerical employees, their long hours put their weekly pay at $464, higher than the overall average for full-time employees.
Canadian Trucking Alliance President David Bradley says the driver shortage will be much worse 5 to 15 years hence unless consideration is given to "lifestyle issues." American Trucking Associations spokesman Mike Russell says the report was "on the money" and that lifestyle issues are becoming important in the United States as well. Journal of Commerce (01/12/00) P. 20; Tower, Courtney
Agreement to End French Trucks Blockade
Many of the border roadblocks set up by French trucking company owners are being lifted after a meeting with the country's transport minister resulted in government concessions. The company owners had been protesting the government cutting the work week to 35 hours as well as the high price of diesel.The deal will allow drivers to work more than 35 hours a week, although they must be paid overtime for the excess, and will hike the diesel tax rebate. Transport Minister Jean-Claude Gayssot said he will attempt to get worker's representatives to agree to the deal when he meets with them Wednesday. Agence France Presse (01/12/00)
Truck Loggers Back on Beam
This year's Truck Loggers Association convention is getting underway in Vancouver with increased optimism in the British Columbia forest industry.The 57th annual convention of the organization, which represents logging firms that use trucks and not trains to haul their timber, is drawing about 200 more attendees this year than in 1999. The mood is good in the industry because of increased lumber prices and the strength of the U.S. economy, but the group is trying to get the province to remove restrictions on log exports and allow a stumpage system based on the market. It also wants some tenure reform.
Changes are needed if the softwood lumber trade agreement with the United States is canceled when it expires next year, a move the industry is backing, said TLA President Tony Toth. Vancouver Sun (01/12/00) P. D1; Hamilton, Gordon
Controller Dismissed at Asche for Embezzling
The controller at the Asche Transportation Services subsidiary Asche Transfer has been dismissed due to apparent accounting misstatements and $62,000 allegedly stolen in 1999. The financial misstatements impacted Asche's 1998 annual report and 1999 quarterly reports. With the help of Ernst & Young, Asche Transportation is reviewing the accounting records of Asche Transfer. Heavy Duty Trucking Online (01/12/00)Registration Statement Filed with U.S. Securities and Exchange Commission for CN/BNSF Combination
Canadian National Railway and Burlington Northern Santa Fe on Tuesday registered with the Securities and Exchange Commission regarding the proposed merger announced Dec. 20. One of the benefits the companies expect to gain through the merger is a service that can compete with trucking for shippers' business. They also plan improved Canadian and central and western U.S. service as well as better north-south routes to open markets and avoid congestion. The registration statement can be found online at www.sec.gov. Canadian Corporate Newswire (01/11/00)DaimlerChrysler Still Interested in Nissan Diesel
DaimlerChrysler still has an interest in acquiring Nissan Diesel Motor should the acquisition terms be to DaimlerChrysler's liking, DaimlerChrysler President James Holden said Monday at the North American International Auto Show. The latest acquisition terms were not appealing, he said. DaimlerChrysler is a U.S. unit of DaimlerChrysler AG. Jiji Press Ticker Service (01/11/00)© copyright 2000 INFORMATION, INC. Terms of Service
