News Briefs - Feb. 2
The Latest Headlines:
- Paccar Reports Higher Profits
- Delphi Records $3.2 Billion in Commercial Vehicle Bookings
- Budget Calls for Oil Drilling in Alaska Refuge
- House Committee Putting Off Vote on Transportation Bill
- Personal Spending Increases 0.4% in December
- Pennsylvania Lowers Speed Limits on Part of I-81
- Delphi Records $3.2 Billion in Commercial Vehicle Bookings
Paccar Reports Higher Profits
Truck maker Paccar Inc. said Monday its net income for the fourth quarter was $159.1 million or $1.35 per share for the fourth quarter compared with $122.2 million or $1.05 per share a year earlier.Sales and revenues total $2.2 billion for the quarter, the company said in a statement.
"It is anticipated that the North American Class 8 truck market will improve 10%-15% in 2004 as customers replace aging trucks and benefit from a gradual economic recovery," said Mark Pigott, chairman and chief executive officer.
Delphi Records $3.2 Billion in Commercial Vehicle Bookings
Vehicle parts maker Delphi Corp. said Monday it totaled a record $3.2 billion in new commercial vehicle business bookings during 2003, nearly three times higher than the $1.1 billion a year earlier.The company said in a release revenue from this business will be earned over an average of five years. During 2003, sales for the commercial vehicle business in 2003 were $898 million, up 28.3% from 2002.
Delphi said that while every region saw a business increase during 2003, a majority of the growth came from Asia-Pacific and Europe. Transport Topics
Budget Calls for Oil Drilling in Alaska Refuge
The Bush administration said Monday it would push Congress to open Alaska's Arctic National Wildlife Refuge to oil drilling, Reuters reported.Even though the Senate has voted against giving oil companies access to the refuge, the White House included the drilling plan in its proposed 2005 government budget sent to Congress.
he administration wants to open the refuge to raise an initial $2.4 billion in leasing fees from oil companies, and half that amount would go toward increased funding for the Energy Department's renewable energy technology research programs over seven years, Reuters said. Transport Topics
House Committee Putting Off Vote on Transportation Bill
The House Transportation and Infrastructure Committee is putting off a vote on a six-year, $375 billion transportation bill because of disagreements over raising fuel taxes, the Associated Press reported Sunday.The current transportation bill, passed in 1998, expires Feb. 29.
Committee chairman Rep. Don Young (R-Alaska) and the ranking Democrat, Rep. Jim Oberstar of Minnesota, want a 5-cent per gallon increase in the federal gasoline tax, currently 18.4 cents a gallon, AP said.
Both the White House and House leaders oppose an increase. So, House leaders have asked Young to postpone a committee vote, scheduled for Wednesday, according to AP.
The article also said an alternative introduced by Rep. Mark Kennedy (R-Minn.), which would repeal the ban on interstate highway tolls, is gaining support. Transport Topics
Personal Spending Increases 0.4% in December
The Commerce Department said Monday that consumers boosted their spending by 0.4% in December.December's increase followed a revised 0.5% rise in November. An increase in personal spending would also increase the demand for trucking services to restock shelves in the months ahead.
Commerce also said that incomes rose 0.2% in December, following a 0.3% rise the month before. Transport Topics
Pennsylvania Lowers Speed Limits on Part of I-81
The Pennsylvania Department of Transportation lowered the speed limit on a stretch of Interstate 81 in Cumberland County, where 11 people have been killed since July, the Associated Press reported.Greg Penny, spokesman for the Pennsylvania DOT, said the speed limit dropped to 55 mph from 65 mph on the portion of I-81 from the Middlesex interchange at Exit 52 to Exit 44 in Plainfield, Pa., AP said.
PennDOT made the decision after looking at traffic volume, the amount of truck traffic, crash history, interchange locations and the design of exit ramps, Penny told AP. Transport Topics
