A.M. Executive Briefing - Sept. 24
This Morning's Headlines:
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Teamsters Gird for Nationwide Strike Against Union Pacific's Overnite Unit
After a breakoff of talks between the Teamsters and Overnite Transportation last week, union campaign coordinator David Cameron says a strike could be headed off only by "divine intervention." Officials at the LTL carrier say strike activity could begin this weekend at the earliest. No further negotiations are scheduled.The Teamsters and union President James P. Hoffa are trying to counter the diminishing Teamsters unionization in the transportation industry. "If the union is successful, it may signal a broader campaign against other truckers," says Northwestern University Transportation Center head Aaron Gellman. Many smaller but expanding LTLs are not unionized.
New Mexican Customs Head Lays Out 21-Point Plan
The head of Mexico's customs operations, Omar Fayad Meneses, has announced a 21-point plan that details his goals for his remaining 14 months in office. His plan includes the improvement of customs computers, increasing the speed and flow of trade, and simplifying the customs clearance process.Fayad has said while it is coincidence that both the United States and Mexico have lawmen leading customs efforts in their respective countries, nonetheless he wants to work with his neighbor to continue to support the North American Free Trade Agreement.
Fayad wants to discuss a closer working relationship with U.S. Customs Commissioner Raymond Kelly, and perhaps even provide his rank and file with U.S. training opportunities. In addition to upgrading customs' internal computer system, he also intends to increase the hours of operations at smaller border crossing points. Furthermore, Mexico expects to install X-ray machines across the Laredo and Colombia bridges, the principal points of U.S.-Mexico trucking routes.
Fayad's plan also calls for attention to intelligence and risk profiles, including a new inspection process that runs one of six possible inspection routines, ranging from a simple check of documents to a full inspection of the truck, the driver, and the cargo. "Our inspections will be more intelligent, better directed," Fayad says. Journal of Commerce Online (09/24/99) ; Hall, Kevin G.
DOH Looks at I-64 Safety Issue
The West Virginia Division of Highways is considering putting a truck checkpoint, including space for brake inspections, along I-64 on top of Sandstone Mountain. A number of crash deaths, including four lately in a truck crash, have taken place on the grade in Summers County. ABC NewsWire (09/24/99)Jury Awards $2.1 Million in WBR Accident
A jury in the 19th Judicial District Court awarded Wilburn Morris Fleniken II of Baton Rouge, La., $2.1 million Tuesday in his case against Safeway Transportation and TMI. Fleniken sued the two companies after he accidentally touched powerlines while hitching a trailer. Doing contract work for Safeway in TMI's lot off U.S. 190, Fleniken suffered burns to his head, chest, arms, back, legs, and feet, and can no longer work.TMI allowed Safeway to park its vehicles on its lot, but did not indicate where, and should not be held responsible, according to TMI attorney Howell Andrews. While counsel for Safeway could not be reached for comment, Andrews expects the award will be appealed. [Baton Rouge, La.] Advocate (09/23/99) P. 19A; Millhollon, Michelle
RESEARCH ALERT - Salomon Initiates Transport Stocks
Analyst Scott Flower at Salomon Smith Barney has begun coverage of a number of freight businesses. He gave outperform ratings to CNF Transportation and Werner Enterprises, citing CNF's profitability and Werner's "commitment to strong top-line growth."Flower gave neutral ratings to FDX Corp., M.S. Carriers, Swift Transportation, and J.B. Hunt. He says problems with trucker employment and fuel are issues at Swift. The analyst also gave buy ratings to Canadian National Railway and Burlington Northern Santa Fe Corp., an outperform rating to Wisconsin Central Transportation Corp., and neutral ratings to Norfolk Southern, Airborne Freight Corp., CSX Corp., and Union Pacific. Reuters (09/23/99)
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