Executive Briefing - March 22
- Eaton Aims Automatic at Medium Trucks
- Slowing Economy Hurting UPS Profits
- Transplace.com Allies With Associated Warehouses
- Natso Praises Minn. Biodiesel Bill's Demise
- USF Logistics Chief Departs
- Freightliner Unveils Plans for New Van
- ArvinMeritor Announces Alliances
- P&G to Cut 9,600 Jobs
- N.J. Governor: Land Access Top Port Priority
- West Coast Container Freight Down
Eaton Aims Automatic at Medium Trucks
LOUISVILLE, Ky. - Eaton Corp. introduced its first automatic six-speed transmission for the medium-duty truck market at the Mid-America Trucking Show here.he 6-speed is aimed at the Class 6 and 7 medium-duty applications such as pickup and delivery operations, food and beverage distributors and other straight-truck users.
The new transmission is unique in that it uses Eaton's Fuller FSO series six-speed manual transmission as its base. The company eliminated synchronizers, added an electronic control unit and an electro-hydraulically actuated clutch to replace the standard clutch in manual transmissions.
It will be in full production and available for use in Freightliner and Sterling trucks in September. Eaton is also certifying the transmission for use in International and Mercedes Benz trucks. Jim Galligan, Light & Medium Truck
Slowing Economy Hurting UPS Profits
Delivery company United Parcel Service (UPS) said Thursday that it expects first-quarter earnings to be in the range of 49-51 cents per share, compared with 56 cents during the same period last year.Analysts, on average, have predicted first-quarter earnings of 57 cents, Reuters noted from research compiled by First Call/Thomson Financial.
UPS Chief Executive Officer Scott Davis blamed the slowing economy, harsh weather conditions and weakness of the Euro as reasons the company was having a difficult quarter.
He also said that domestic volume growth has slowed about 1% so far this year.
Looking ahead, Davis warned if current economic conditions persist, second-quarter earnings would likely be 55-60 cents per share, compared with 60 cents per share during the second quarter of 2000.
Atlanta-based UPS was ranked No. 1 on the in the Transport Topics 100 list of U.S. trucking companies, based on 1999 data. Transport Topics
(Click here for the full press release.)
Transplace.com Allies With Associated Warehouses
Transplace.com and Associated Warehouses said they have formed an alliance to provide integrated warehousing, fulfillment, transportation and logistics services.Transplace.com is an Internet-based global transportation logistics company, founded through the merger of logistics business units from six of the nation's largest publicly held truckload carriers and boasting a network of 5,000 carriers.
Associated has more than 250 warehouse facilities across North America. Transport Topics
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Natso Praises Minn. Biodiesel Bill's Demise
Truckstop and travel plaza trade group Natso praised the Minnesota legislature for tabling a bill that would have required diesel fuel sold in that state to contain a minimum of 5% biodiesel containing plant oils.Natso said Thursday that biodiesel is more expensive than conventional diesel fuel, while the typical truckstop operator's margin on diesel fuel is only pennies to the gallon. A 5% biodiesel requirement could have boosted the per-gallon price by five to 30 cents above conventional diesel, Natso claimed.
Because a standard long-haul truck can travel more than 1,000 miles without refueling, price can trump convenience in refueling decisions, Natso said. Transport Topics
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Click here for the full press release.)
USF Logistics Chief Departs
Trucking and logistics giant USFreightways (USFC) announced that the chief executive of its USF Worldwide Logistics unit, Doug Christensen, has left the company.
Companies within the unit will report directly to USF Chairman and Chief Executive Officer Sam Skinner. Those are USF Worldwide, USF Logistics, USF Processors and USF Distribution Services.
USF issued an earnings warning March 9, and said it would make significant cuts in jobs and spending.
USF is ranked number No. 8 in the Transport Topics 100 list of U.S. trucking companies, based on 1999 data. Transport Topics
(Click here for the full press release.)
Freightliner Unveils Plans for New Van
Freightliner LLC is making its first major expansion into the lighter duty segment of the North American commercial vehicle market with its new Sprinter van.The Sprinter will be offered in both cargo and passenger van configurations, and can be used for parcel delivery, passenger transportation and services such as utilities and landscaping.
The company said it will begin assembly in May of the Mercedes-Benz-designed van in its manufacturing plant in Gaffney, S.C. The first cargo models will be available in June.
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ArvinMeritor Announces Alliances
Truck-parts supplier ArvinMeritor Inc. said it has formed an alliance with Ancra International, a company that manufactures heavy-duty cargo restraints, to carry its line equipment.Through the alliance, ArvinMeritor will offer Ancra's cargo restraints to ArvinMeritor's warehouse distributors and original equipment customers. The parts are used for both flatbed and van trailers.
lso Thursday, ArvinMeritor and GRA-MAG Truck Interior Systems announced a strategic alliance for it to distribute GRA-MAG's industry leading line of air suspension seats.
The seats will be offered as replacement parts to Meritor brand warehouse distributor and original equipment manufacturer customers.
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Click here for press releases from ArvinMeritor.)
P&G to Cut 9,600 Jobs
Consumer-products manufacturing giant Procter & Gamble said Thursday it will cut 9,600 jobs worldwide due to slowing sales and rising costs.The company said about 40% of the cuts will be in the U.S. and about one-third will come from manufacturing projects.
This will affect trucking because when manufacturing declines, the volume of freight shipped on trucks also declines.
The Wall Street Journal had reported that P&G was weighing cuts of up to 22,000 workers from its workforce of 110,000. Transport Topics
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Click here for the full press release.)
N.J. Governor: Land Access Top Port Priority
Landside access to marine terminals should be the top priority for the Port Authority of New York and New Jersey, acting N.J. Gov. Donald DiFrancesco said Wednesday, the Journal of Commerce Online reported.He said New Jersey will move forward with its Portway International/Intermodal Corridor project, which will separate trucks from highway traffic and railyards, according to JOC. Construction began last July.
He spoke at a luncheon sponsored by the Maritime Association of the Port of New York and New Jersey. DiFrancesco became acting governor when then-Gov. Christine Todd Whitman resigned to lead the U.S. Environmental Protection Agency.Transport Topics
West Coast Container Freight Down
Containerized shipments through West Coast ports declined in February, indicating slower American purchases of spring and summer merchandise and fewer markets for American materials, the Journal of Commerce Online reported.Imports were down, and the exports trended further downward, JOC said. Imports through the nation's largest container port at Long Beach, Calif., declined 12.5% from February 2000, JOC said.
At the adjacent Port of Los Angeles, second largest in the country, imports were down 8.2% in February for the first monthly decline in more than a year. The Tacoma, Wash., port saw an 18% drop in February.
Containerized exports also declined at all ports except Los Angeles. Asian companies that import raw goods from America and send back finished consumer products are buying less from U.S. companies, JOC said. Transport Topics
