News Briefs - Oct. 29

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The Latest Headlines:


Sun Eruption Could Disrupt Communications

An eruption on the surface of the Sun sent charged particles hurling toward Earth on Wednesday, and scientists said the cloud could disrupt satellite communications, news services reported.

Similar solar events in recent years have disrupted television transmissions, global position system navigation, oil pipeline controls and even the flow of electricity along power lines.

he explosion of gas and charged particles into space from the corona, the outermost layer of the sun's atmosphere, isn't harmful to people, the Associated Press reported. Transport Topics




Pacer’s Profits, Revenues Rise in 3Q

Transportation and logistics firm Pacer International Inc. said Wednesday net income for its fiscal third quarter ended Sept. 19 was $11.5 million or 30 cents, compared with $8.2 million or 22 cents a year earlier.

The most recent quarter included a charge of $11 million related to the company's senior subordinated note redemption and secondary offering of common stock, Pacer said in a release.

Net revenues for Pacer Stacktrain, which provides double-stack rail transportation services, increased 4.9% to $55.4 million. In addition, revenues for the retail segment, which provides intermodal marketing, truck brokerage and international freight forwarding, increased 0.6% to $35.1 million.

Pacer is ranked No. 14 on the 2003 Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics


Vitran Reports Higher Profits

Toronto-based transportation firm Vitran Corp. on Wednesday reported a third-quarter net income of $3.2 million or 31 cents per share on revenues of $89.3 million.

That compared with a net income of $2.7 million, or 28 cents per diluted share on revenues of $93.9 million a year earlier.

Income from operations for Vitran's core less-than-truckload segment rose 7%, the company said in a release. Vitran's logistics and truckload segments also achieved profitability.

Vitran is ranked No. 57 on the 2003 Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics


Allied Holdings Narrows 3Q Loss

Vehicle hauler Allied Holdings Inc. said Wednesday its net loss for the third quarter was $2 million or 23 cents per share, compared with a loss of $6.5 million or 78 cents a year earlier.

Revenues were $197.1 million, down from $213 million in the third quarter of 2002. The company said the decline was due to lower new vehicle production.

"The third quarter is seasonally challenging to our operations due to our customer's plant vacation downtime, model changeovers and product launches," said Hugh Sawyer, Allied's chief executive officer.

Allied is ranked No. 23 on the 2003 Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics


University of Nebraska to Advertise on Trailers

The University of Nebraska is placing ads onto the sides of five semitrailers hauling food and furniture in the United States, Canada and Mexico, the Associated Press reported.

The trailers are owned by Crete Carrier Corp., which is not charging the university for the ads. Crete Chairman Duane Acklie is a 1955 graduate of the University of Nebraska College of Law and former chairman of American Trucking Associations.

Two of the trucks will roll between Omaha, Neb., and Kansas City. The other three will drive around the lower 48 states, Canada and Mexico, AP said.

The university believes the ads will help attract more out-of-state students, AP reported. Transport Topics


Report Sees Big Diesel Role in Calif. Economy

A report issued Oct. 22 stated that diesel technology plays a massive role in California’s economy in everything from trucking to the agricultural sector.

“This report is the first to document the economic impact of diesel in California, and the findings clearly show that the state’s future economic growth is strategically linked to diesel power,” said Allen Schaeffer, executive director of Diesel Technology Forum, which released the report.

In 2000, the freight-hauling industry produced $58 billion in services, adding $29 billion in value to the gross state product. The freight industry — including trucking, shipping and railroads — spent $2 billion on diesel technology inputs in 2000, it said. Transport Topics

This story appeared in the Oct. 27 print edition of Transport Topics.

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