News Briefs - March 3
The Latest Headlines:
- ISM Services Index Dips but Shows Expansion
- February Job-Cut Announcements Fall 34%
- AmeriQuest Corp. Starts New Division
- Navistar Corp. Promotes Allen and Cochran
- Striking CN Workers in Canada Increase Pickets
- February Job-Cut Announcements Fall 34%
ISM Services Index Dips but Shows Expansion
The Institute for Supply Management said Wednesday its non-manufacturing index dropped to 60.8 in February from 65.7 the month before.January's reading was an all-time high, ISM said. Readings higher than 50 indicate expansion. The index measures the services sector, which is the largest segment of the economy and includes trucking.
The employment index fell to 52.7 from 53.4. It was the fifth straight month of growth.
February Job-Cut Announcements Fall 34%
Large U.S. corporations announced plans to cut 77,250 jobs in February, the fewest since September, according to placement firm Challenger, Gray & Christmas Inc.February's figure was down 34% from the 117,556 announced in January and 44% below the 138,177 a year earlier.
Industrial goods companies led industries in intended job reductions with 13,216. Food companies followed with 9,609 and health-care concerns with 7,007.
Many of the cuts tabulated by Challenger are carried out through attrition, and some employees will find work elsewhere in their companies. Also, many announced staff reductions never take place because business improves. Transport Topics
AmeriQuest Corp. Starts New Division
Transportation management and procurement services company AmeriQuest Transportation & Logistics Resources Corp. said it created a new division to provide equipment sales, financing and management services for leasing companies and private fleet operators.AmeriQuest said its customers include truck leasing and rental companies, food industry distributors and wholesalers and retailers.
AmeriQuest President Doug Clark said in a statement that the addition of an enterprise-wide asset services capability “has been a priority for us for some time [and] will provide the AmeriQuest network with additional customer finance programs and the ability to remarket used equipment on a national level.” Transport Topics
This story appeared in the March 1 print edition of Transport Topics.
Navistar Corp. Promotes Allen and Cochran
Navistar International Corp. said that it has promoted Jack Allen to president of its engine group and elevated Phyllis Cochran to chief executive officer and general manager of its finance group, Navistar Financial Corp.Allen previously was vice president and general manager of the company’s parts business, the Warrenville, Ill., company said. He succeeds Richard Fotsch, who resigned to accept a position with another company, International said.
Allen has been with the company since 1981, serving in a variety of capacities in truck marketing, sales and product development. He had headed the parts business since 2002, International said.
The company said it chose Cochran to succeed Allen at the parts business. She joined the company in 1979 in the corporate finance department and has helped shape the finance group’s structure, the company said.
Navistar’s operating company is International Truck and Engine Corp., which produces commercial trucks, diesel engines and school buses. Transport Topics
Striking CN Workers in Canada Increase Pickets
An official with the Canadian Autoworkers Union said striking Canadian National railroad workers would to picket more workplaces with connections to the railway including a trucking company, the Canadian Press reported Wednesday.The union has begun targeting the Husky Oil refinery because the company's trucking service has been crossing the picket line to fuel CN Rail locomotives, the article said.
About 25% of CN's workforce in Canada, including mechanics, clerks and container yard workers, went on strike Feb. 20.
CN spokesperson Mark Hallman said the two parties were expected to discuss an offer Wednesday in Montreal at a meeting arranged by federal mediators, according to the article. Transport Topics
