A.M. Executive Briefing - Nov. 15
This Morning's Headlines:
ul>
Longshoremen Ready to End Port Shutdown
Claudette Bradshaw, Canada's Labor Minister, set a deadline of noon Sunday for port employers and the longshoremen's union to resolve the dispute that has closed ports on the country's west coast. If the deadline was not met, Bradshaw would enter legislation Monday to resume work at the ports.Tom Dufresne, president of the union, said the union will go along with "the settlement that's recommended by the federal mediator," and when the Maritime Employers Association ends the lockout union members will go back to work. The association's members were to meet, after which the association was to issue a statement Monday, according to its spokesperson. London (Ontario) Free Press (11/15/99) P. A12
Secure Investment Device Will Help Prevent Cargo Theft
The Canadian company Secured Cargo is marketing security devices for trailers that set off a siren and flashing light at an attempted break-in and will notify the trucker via a pager. Some feature GPS connections as well. The company founders believe the Semo-Alarm and Wailock products will do well in North America, where billions of dollars are lost to cargo theft each year. Calgary Sun (11/13/99) P. 68; Jackson, PaulTough New Air Quality Tests in Works
Among proposals to be submitted to the Pennsylvania Environmental Protection Department by the Lehigh Valley/Reading Ozone Stakeholders Working Group are testing emissions for vehicles over 9,000 pounds at weigh stations and limiting the amount of time heavy-duty vehicles can idle their engines.The emissions-testing recommendation, which would also allow police to pull over and test vehicles whose emissions are visible, would not much affect interstate trucks, which have emissions controls, said East Penn Trucking manager Dan Schleicher. But Collins and Maxwell Construction President Richard Yezierski was against the recommendation if it means trucks could be taken off the road without warning.
The idling limit would be three to five minutes unless it is colder than 25 degrees or the vehicle is working. There will be public meetings Wednesday in Bethlehem and Reading before the proposals are given to the state environmental agency. Morning Call (Allentown, Pa.) (11/12/99) P. A1; Berg, Christian D.
Asche Transportation Services, Inc. Announces Revenue Increase of 39 Percent
Asche Transportation Services said it saw $40.8 million in third-quarter revenue, up 39% from the year-earlier quarter, with $184,000 in net income, or a $2.2 million (36 cents a basic and diluted share) net loss including non-recurring charges. Most of the charges had to do with the purchase of Specialty Transportation Services.In 1998's third quarter, the company saw $8,000 (0 cents a basic and diluted share) in net income. The company saw $112.4 million in revenues for the first nine months, up 39% from the comparable 1998 period, with a $4 million (75 cents a basic and diluted share) net loss including non-recurring charges. In 1998's first nine months, Asche had $242,000 (5 cents a basic and diluted share) in net income. PR Newswire (11/12/99)
RailAmerica Announces Plans to Sell Truck Trailer Manufacturing Subsidiary
RailAmerica said it intends a sale of its Kalyn/Siebert subsidiary with the assistance of ING Barings. Kalyn/Siebert makes about 1,200 specialty trailers a year, with $39.9 million in sales last year and $33.9 million in sales for January through September of this year. Business Wire (11/12/99)URSI Reports Third Quarter Results
United Road Services, whose operations include vehicle and heavy-equipment transportation, said it saw a $3.7 million (22 cents a diluted common share) net loss in the third quarter, including roughly $1.8 million in non-recurring charges. The company also saw $2.4 million in EBITDA and $64.2 million in revenues for the third quarter.For the first nine months, the company had a $1.2 million (7 cents a diluted common share) net loss, with $189.1 million in revenues and $18.9 million in EBITDA. The company's bank group has also cut its bank line to $65 million, a $25 million reduction, at the company's request. PR Newswire (11/12/99)
Overnite Transportation to Appeal Decision on 1995 Case
Overnite Transportation intends to appeal the decision of the National Labor Relations Board requiring that the company accept Teamsters union bargaining at four locations in Missouri, Kentucky, Virginia, and Georgia and compensate for pay hikes at 11 sites that were withheld for some time in 1996.Company director of corporate communications Ira Rosenfeld said the NLRB decision "is based solely on the same original findings made by an administrative law judge in 1998, which the company feels was flawed throughout." Overnite believes it will win in federal Appeals Court, Rosenfeld said.
Over 550 Teamsters charges with the NLRB against the carrier have been dismissed or withdrawn, with administrative law judges giving six recommended orders, four of which Overnite appealed. However, the union uses its many charges to claim that Overnite "is some kind of bad actor," he said. PR Newswire (11/12/99)
© copyright 1999 INFORMATION, INC. Terms of Service
