A.M. Executive Briefing - Mar. 1
This Morning's Headlines:
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Clinton Still Mulling Oil Release
President Clinton told reporters Tuesday that the possibility of releasing oil from the Strategic Petroleum Reserves is still on the table. But he said what is really necessary is a production increase, noting that there have been press reports about that possibility and saying he is "encouraged that that might occur."Although there are legislators pressing for a release of oil from the reserve, many analysts in the fuel industry say there would not be an immediate improvement from such a tactic. Heavy Duty Trucking Online (03/01/00) ; Lockridge, Evan
Engine Brake Bill Passes CO House
A bill that would require mufflers for engine compression brakes, and impose a $500 fine for violators, passed the Colorado House of Representatives Feb. 22; the bill is now in the Senate transportation committee. Land Line Magazine Online (03/01/00)UPS Allies With Hong Kong Firm
Hong Kong-based Kerry Logistics, in partnership with UPS Worldwide Logistics Asia and other firms, has bid to develop a logistics center at Hong Kong's Chek Lap Kok Airport. Such a center is necessary, many say, to keep the airport and Hong Kong an important regional freight hub.A division of developer Kerry Properties, Kerry Logistics has spent $13 billion on logistics information technology and hardware; it plans an expansion of its new Kwai Chung electronic-fulfillment center and is discussing an Asian regional logistics center with several potential partners. It already partnered with Citibank to offer business-to-business e-commerce packages with strong reliance on the World Wide Web.
Kerry also expects a fast increase in the number of traditional logistics customers changing to services based on the Internet. Journal of Commerce (03/01/00) P. 3; Bangsberg, P.T.
Yellow Corp. to Start Web Site for Trucking and Shipping Companies
Yellow Corp., with over $30 million in initial investments from venture capital firms TL Ventures and EnerTech Capital Partners, is to launch Transportation.com, a new Web subsidiary, in the second quarter. The site is to cater to both shippers and carriers in all segments of the trucking industry and would not favor Yellow carrier subsidiaries over others.James D. Ritchie, formerly a Ryder Integrated Logistics vice president, will be Transportation.com president and CEO. Kansas City Star Online (02/29/00); Heaster, Randolph
CO Lawmakers Consider Reducing Taxes and Registration Fees
Two trucking-related bills in the Colorado House Appropriations Committee reportedly will go to committee vote Friday. One, HB1275, would eliminate state sales taxes for trucks and trailers, and parts for them, used in interstate commerce; the other, HB1227, would cut state registration fees for big rigs 25%. Land Line Magazine Online (03/01/00)Senate Proposal Drops Speed Cushion for Commercial Trucks
A bill unanimously passed by the West Virginia Senate Tuesday would remove most commercial vehicles from the "cushion" that imposes only a $5 fine and no additional penalties on interstate drivers going less than 10 mph above the speed limit. The State Police will not alter speed enforcement tactics if the bill, now bound for the House of Delegates, becomes law, said a police spokesman. Associated Press (03/01/00); Coleman, RandyOwner-Operators Plan Second Washington Convoy
The National Owner Operator Trucking Association is planning a second convoy on Washington, D.C., March 16 to help pass Sen. Ben Nighthorse Campbell's bill that would temporarily cut the federal diesel tax.The group, which organized the convoy that took place last week soon before Campbell (R-Colo.) introduced the bill, evolved from the South Jersey Owner Operator Truckers Association because of other owner-operator organizations' apparent inaction on the diesel price crisis. The association also wants a 15 cent per gallon federal fuel rebate to make up for state taxes.
According to the plans, the convoy will start in California with 200 or more trucks, which will meet up with 400 additional trucks in New Jersey for the drive down Interstate 95 to Washington, D.C. Heavy Duty Trucking Online (03/01/00); Lockridge, Evan; Lockridge, Deborah
Truckers Vow to 'Cripple' City
Dwayne Mosley of the Greater Ottawa Truckers Association has organized a Friday diesel-price protest that he says will "cripple Ottawa" with over 350 trucks heading to Parliament Hill in the Canadian national capital. The same location saw some 30 dump trucks protesting last week. [According to the London (Ontario) Free Press, truck drivers Tuesday were still delaying oil companies' tanker trucks in the Toronto area in protest of diesel costs.] Ottawa Sun (03/01/00) P. 2; Seymour, Andrew© copyright 2000 INFORMATION, INC. Terms of Service
