News Briefs - March 9
The Latest Headlines:
- Smithway Names Owens As President, CEO
- Canadian National, Union End Talks
- Atlas Acquires Bekins Distribution
- Fitzgerald Named President, CEO of USF Reddaway
- PPI Report Will Be Delayed Again
- Bush Picks Hersman for NTSB
- Deutsche Post's 4Q Profit Rises
- Canadian National, Union End Talks
Smithway Names Owens As President, CEO
Truckload carrier Smithway Motor Xpress Corp. said Monday its board of directors named G. Larry Owens as president and chief executive officer.Last week, founder William Smith passed away. He had been undergoing treatment for leukemia.
Smithway is ranked No. 85 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Canadian National, Union End Talks
Canadian National Railway Co. withdrew enhancements to a previous contract offer on Monday as union and management at Canada's largest railway broke off talks aimed at settling the ongoing strike, Reuters reported.About 5,000 workers represented by the Canadian Auto Workers walked off the job on Feb. 20.
The setback means the strike is unlikely to come to quick end, and shippers will face further delays and more scrambling to find alternative transportation, Reuters said.
Container movements dropped by 25% during the first full week of the strike compared with the previous week, although key customers say they are coping so far, Reuters said.
Union officials said shippers would likely increase pressure on the government to intervene. Transport Topics
Atlas Acquires Bekins Distribution
Atlas World Group, the holding company of moving firm Atlas Van Lines, acquired Bekins Distribution Services Co., the Associated Press reported.Terms of the deal were not disclosed. Bekins, which specializes in commercial moves, will operate as BDS Worldwide Inc., a subsidiary of Atlas.
The deal allows Atlas to expand its specialized transportation group, which handles logistics for exhibits, trade shows and high-value equipment, AP said.
Atlas is ranked No. 32 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Fitzgerald Named President, CEO of USF Reddaway
USF Corp. said Monday that Edward Fitzgerald was promoted to president and chief executive officer of its regional less-than-truckload carrier USF Reddaway Inc.Fitzgerald joined USF Reddaway in May 2000 and was named chief operating officer in March 2002.
USF is ranked No. 10 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
PPI Report Will Be Delayed Again
For a second straight month, the Labor Department said it would not release its report on wholesale prices because of because of difficulties with converting current categories to a new classification system.The January's producer price index was also not released as originally scheduled on Feb. 19. New release dates have not been set.
The monthly PPI report tracks the prices of goods before they reach consumers. Labor's consumer price index, which measures the prices of goods and services at the consumer level, has not been affected by the PPI delays. Transport Topics
Bush Picks Hersman for NTSB
President Bush announced his intention to nominate Democratic Senate aide Debbie Hersman to the National Transportation Safety Board.Hersman, currently senior minority staff member for the Senate Commerce, Science and Transportation Committee, would replace John Goglia, whose term expired Dec. 31. Transport Topics
Deutsche Post's 4Q Profit Rises
Deutsche Post AG, Europe's largest postal service, said fourth-quarter profit rose 65%, helped by the inclusion of Airborne Inc. in the results, Bloomberg reported.Net income increased to $549 million from $330 million in the fourth quarter a year earlier, Bloomberg reported. Sales rose 6.7% to about $1.6 billion.
The company bought Airborne's ground operations a year ago for $1.05 billion to gain a U.S. truck delivery network and compete with UPS Inc. and FedEx Corp. Airborne's results were not immediately released. Transport Topics
