A.M. Executive Briefing - Nov. 14
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Diesel Continues to Drop in Most Areas
Diesel prices continued their downward drop this week in most areas, the U.S. Department of Energy reports. The national average dropped to $1.603, down 0.7 cents from last week's $1.610.The largest drop was in the Rocky Mountains region and California, both showing a decrease of nearly two cents from last week. The highest increase was in the Gulf Coast region, where prices actually went up about half a cent from last week. Prices in the Lower Atlantic region and New England did not change from last week. Transport Topics
Employers With Ergonomics Programs May Not Face Much Change
Employers with programs to prevent repetition-strain injuries may be able to keep them intact under the Occupational Safety and Health Administration's new ergonomics rule, the Washington Post reported Tuesday.
OSHA would look at company programs if workers file complaints, or if the agency has targeted a company as part of its regular enforcement program.
The rule is set to take effect Jan. 16, but companies would have until October to comply. Transport Topics
Yellow Names CFO From Outside; Promotes Freight System VP
Yellow Corp. (YELL), parent of Yellow Freight System, has named Donald G. Barger Jr. as senior vice president and chief financial officer, the company announced Monday. Barger has worked for B.F. Goodrich, although his most recent position was CFO at Hillenbrand Industries, Inc., based in Batesville, Ind., since 1998.
Yellow also announced the promotion of Gregory A. Reid to senior vice president and chief communications officer. He had been senior VP of sales and marketing for Yellow Freight.
Yellow Corp., based in Overland Park, Kan., is a holding company with wholly owned operating subsidiaries specializing in the national, regional and international transportation of goods and materials. Transport Topics
U.K. Truckers Protest Fuel Taxes
United Kingdom truck drivers gathered in London Tuesday to protest high taxes on fuel, Bloomberg reported.According to the wire service, taxes account for 75% of fuel prices in the U.K. The truckers said they would continue to protest if the government failed to cut fuel taxes.
This protest comes two months after truckers blockaded city streets and refineries, which disrupted commerce and caused thousands of gas stations to run out of fuel.
In an interview with the British Broadcasting Corporation, Chancellor Gordon Brown said tax cuts would be implemented only if it is a priority for the entire country. Transport Topics
U.S. Retail Sales Rise Slightly
As expected, the U.S. Commerce Department said Tuesday that retail sales rose by just 0.1% in October, and would have risen 0.4% except for weakness in auto sales revenues as dealers cut prices to clear backed-up inventories of last year's models, news services reported.Consumer spending accounts for about two-thirds of U.S. economic growth, so anytime retail sales are weak it reverberates through the economy. Already, the trucking industry has seen freight shipment growth decelerate sharply this year as the factory sector weakened. Transport Topics
Daewoo Shuts Second Plant, GM Buyout Still Possible
Daewoo Motor Co. has suspended production at a second plant in Korea, after filing for court receivership Friday, Bloomberg reported Tuesday.Suppliers were refusing to ship parts, the news service said. The closed plants comprised 80% of Daewoo's domestic capacity, for a combined output of 800,000 vehicles a year.
A court froze the company's assets Tuesday. However, General Motors (GM) and Fiat (FIA) are still in talks to buy all or part of Daewoo, Korea's second-largest automaker, Bloomberg said. Transport Topics
SUVs, Pick-ups Favored Among Thieves
Sports utility vehicles and pick-up trucks attract thieves in high numbers, the National Insurance Crime Bureau reported in its survey of the top 50 most commonly stolen vehicles.The top ten list included the Chevrolet Full Size Pick-up (No. 4) and the Jeep Cherokee (No. 7), popular vehicles among utility and service fleets. The survey noted that thieves snatch the cars to be stripped for parts or to illegally export the vehicles to other countries.
The chances of theft depend upon the region of the country, the survey further said. For example, a pick-up was more likely to be stolen in Dallas, Texas than in California. Transport Topics
DaimlerChrysler to Recall Jeep Cherokees in Brazil
DaimlerChrysler (DCX) will recall Jeep Cherokees in Brazil due to possible failure of air-bags, Bloomberg reported.Models from 1997 to 1999 may have airbags that fail due to sudden change of weather, the wire service reported. No accidents have been reported, however.
The company said it was unclear how many models will be recalled. The recall would follow a similar action in Venezuela. Transport Topics
Headlines From Yesterday's P.M. Briefing
- OPEC Stops Further Oil Production Increases
- Fiat to Lay Off 1,000 Workers
- Delivery Firm Streamline.com to Close
- RailAmerica to Sell Truck Unit
- Freightwise Transportation Exchange Goes Live
- PNV Reports Q1 Loss
- Fire Shuts Down Hino's Main Plant
- Cannon Express Posts Sharp Q1 Losses
- Target Logistics Announced 1Q Results
- Morgan Group Reports Higher 3Q Earnings
- Emery Worldwide Wins Contract for Mine in Chile
- Ariz. Businesses May See Alternative Fuel Subsidy Tightened
- FleetXchange Teaming Up With NTE
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