A.M. Executive Briefing - Nov. 17
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DaimlerChrysler Names Zetsche to Head U.S. Operations
Car and truck manufacturer DaimlerChrysler (DCX) early Friday named Dieter Zetsche as chief executive officer of its Chrysler U.S. auto manufacturing unit and Wolfgang Bernhard as Chrysler's chief operating officer, CBS MartetWatch reported.In moves that were widely anticipated, the company said Zetsche replaces James Holden as Chrysler CEO and confirmed that its fourth-quarter Chrysler results would fall below the company's previous forecast. Daimler previously said the Chrysler unit would return to profit in the fourth quarter.
Before today, Zetsche oversaw Chrysler's commercial vehicle unit that makes Freightliner, Sterling and Mercedes trucks.
C.R. England Sets Reefer Surcharge
C.R. England Inc., a nationwide truckload carrier based in Salt Lake City, said it will begin to charge its customers an extra $12 to $57 a load, depending on length of haul, to recover the cost of fuel used to power refrigeration units on its trailers.The new trailer fuel surcharge, believed to be a first for the industry, will take effect Dec. 4.
“This is a cost we have never really passed on before,” said Dean England, the company’s chief operating officer. “But with no reduction in fuel costs in sight, we can’t continue to bear the cost.”
Like most trucking companies, C.R. England has had a surcharge in place for some time based on the miles driven by the tractor, but there was no mechanism to recover the cost of trailer fuel, which accounted for 10% to 15% of C.R. England’s total fuel expenses.
C.R. England operates a fleet of 2,700 tractors and 4,100 refrigerated trailers. Transport Topics
4th Q Profitable for Trailmobile Canada
Truck trailer maker Trailmobile Canada had a profitable fourth quarter, although revenues were lower than in the same period last year, the company reported Thursday.Trailmobile Canada's fourth quarter revenues were C$23.8 million ($US15.2 million), down from $32.1 million during the same period in fiscal 1999. This left a basic income of two cents a share, compared with a loss of the same amount - two cents a share - in the 1999 quarter.
The company reduced its accounts payable as well as its long-term liabilities. It plans to "aggressively manage operational activities and inventories" while "streamlining" administrative services, Frank Michalargias, chief financial officer, said in a statement.
Trailmobile Canada Ltd., manufactures dry-freight trailers in Mississauga, Ontario, for commercial trucking customers in Canada and the United States, and is majority owned by Chicago-based Trailmobile Corp. Transport Topics
Veredex Hires CF’s Former CEO
Veredex has hired former Consolidated Freightways Corp. (CFWY) Chief Executive Officer Roger Curry to be its chairman of the board.Toronto-based Veredex offers a network of 1,250 couriers on a Web site. It also offers dispatch software to same-day-delivery firms and a product to help shippers order pickups through the Internet.
“The logistics industry is undergoing tremendous changes,” Curry said in accepting the appointment. There is “a convergence between the long-haul-shipping industry and the local pickup and delivery market,” he said. Transport Topics
GM Van, Medium-Duty Truck Plants Get Long Holiday
Overstuffed inventories are leading General Motors (GM) to temporarily idle plants.A GM plant in Wentzville, Mo., that makes large vans was temporarily closed this week, and will remain down through the Thanksgiving holiday, the Wall Street Journal reported Friday.
A GM plant in Janesville, Wis., that builds medium-duty trucks - used mainly for metropolitan and regional deliveries - will be idled for three extra days during Thanksgiving week, although that hiatus was already planned, the Associated Press reported. Transport Topics
Headlines From Yesterday's P.M. Briefing
- U.S. Trucking Chairman Huff Resigns
- Economy: Low Inflation Amid Weak Output
- Crude Oil Prices Drop After Warm Weather Forecast
- Truck Stop Group Suggests Parking Fund
- New Con-Way Unit Aims At Small, Medium Businesses
- Air Transport Intl. Pilots Ratify Teamsters Contract
- Ontario Puts Driver Records Online
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