A.M. Executive Briefing - Nov. 5
This Morning's Headlines:
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Freight Strike a Test of Hoffa's Mettle
Although the Teamsters and Overnite Transportation cannot agree on which is faring better during the current strike, it is clear that the outcome is important to union President James P. Hoffa, who wants to show that he is a capable leader and that a union can organize a company as opposed to unionization as Overnite is.The percentage of unionized U.S. truckers has fallen to 20% from the 60% figure during Hoffa's father's tenure as Teamsters president, and Hoffa wants to keep the percentage from declining further and eroding the Teamsters' power. Ron Carey, the union's previous president, was unsuccessful in unionizing Overnite.
Diesel Exhaust a Leading Cancer Threat in L.A.
A South Coast Air Quality Management District study set for a Friday release says diesel exhaust is more of a cancer threat than any other contaminant in the Los Angeles basin's air. The findings include a map showing that the diesel-exhaust cancer threat is stronger along freeways, which depicts vehicles, not factories, as the chief source of air pollution.Stephanie Williams, environmental-affairs director at the California Trucking Association, says the map overstates the effects of diesel and that the district is "trying to get public support to go after the trucking industry." Orange County Register (11/05/99) ; Brennan, Pat
$300,000 Contract to Study State Port
The contract for the $300,000 Van Buren Regional Intermodal Port Feasibility Study, backed by a federal government grant and private investments, will likely be approved Friday by the Van Buren (Ark.) Public Facilities board. If it is deemed feasible and built, the port will comprise various sites on the Arkansas River that have access for barges, trucks, trains, and airplanes.The study, to be performed by the Memphis Super Port consultant Don Breazeale and Associates, can take no more than 90 working days in order to beat the deadline to apply for construction funding from the federal government. Among the things to be studied will be the likelihood of being designated a foreign trade zone by the federal Commerce Department. Arkansas Democrat-Gazette Online (11/05/99) ; Cody, Cristal
Interstate Weigh Stations Will Rise From Arkansas's Big Dig By The River
Two weigh stations for truckers entering Arkansas on I-40 and I-55 over the Mississippi River are under construction and slated to open next year, which will allow the state to ensure that the trucks have no violations.Right now, said State Highway and Transportation Department district engineer Ray Woodruff, the state's weigh stations are far enough from the river that trucks can get off the interstates and elude the scales. However, the manager of a Memphis trucking firm said the higher penalties for avoiding the scales deter most truckers from trying it now. Memphis Commercial Appeal (11/04/99) P. A1; Charlier, Tom
Gore Meets Teamsters Seeking Endorsement
According to an anonymous source, Vice President Gore told Teamsters heads at a private Thursday meeting that he has a chance of winning an election over George W. Bush and addressed their concerns about trucks from Mexico by saying, "We will not open up the border until all the safety measures are in place."When the AFL-CIO endorsed the vice president in October, the Teamsters and United Auto Workers held back. A subsequent invitation by Teamsters President James P. Hoffa brought about the Thursday meeting. Associated Press (11/04/99); Fournier, Ron
FDX Expands E-Commerce Solutions with Multi-Carrier Shipping System
FDX Corp. has announced a new electronic shipping system, FDX PowerShip mc, which will allow shipper access to various carriers, even some not owned by FDX. FedEx, RPS, and UPS will be accessible through the system for shipment processing and monitoring, and shippers will be able to get rates and address labels for such carriers as the postal service, Airborne Express, and DHL."With the open architecture of FDX PowerShip mc, our customers can select from a broad range of transportation services and providers to better manage their total supply chain needs," says Dennis H. Jones, company executive vice president and CIO. Large-volume and medium-volume customers will be offered FDX PowerShip mc at no charge. Business Wire (11/04/99)
Gov. Ryan May Give Campaign Cash to Charity
Following sworn statements alleging that George Ryan's successful Illinois gubernatorial campaign benefited from bribe money from truck drivers, spokesman Dennis Culloton says there will be a "substantial" charitable donation from the campaign. But it appears that Ryan still doubts the veracity of the sworn statements. He has donated tainted campaign money to charity in the past. Chicago Sun-Times (11/04/99) P. 18BNSF To Build Intermodal Facility Near Stockton, Calif.
Burlington Northern and Santa Fe Railway has set a November groundbreaking for the Stockton Intermodal Hub Center near California Route 99 in San Joaquin County, which will take the place of an intermodal site in nearby Stockton, Calif. The current site does not have space for growth.According to Fritz Draper, the company's vice president, operations and customer service, "When operational in mid-year 2001, the new facility will increase BNSF's annual intermodal lift capacity in the Stockton area by more than 150%." The railroad is also creating a wildlife sanctuary, according to Draper. Business Wire (11/04/99)
Eagle Reports Record Fourth Quarter and Fiscal Year Revenues and Earnings
Eagle USA Airfreight, which operates as EGL Eagle Global Logistics, saw $166.8 million in revenues for its fourth quarter of FY99, up 37% from the year-earlier quarter, with $13.4 million in operating income, up 61%, and $7.9 million in net income, up 44%. Fourth-quarter diluted earnings per share were 27 cents, up 42%.For the full fiscal year, the company saw $595.2 million in revenues, up 43% from FY98, with net income up 36% to $28.5 million. FY99's diluted earnings per share were 98 cents, up 36%.
"Our fourth quarter and fiscal year results were both company records in terms of revenues, operating income, and net income," says James R. Crane, who serves as chairman and CEO for the logistics, transportation, and freight forwarding company. PR Newswire (11/04/99)
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