News Briefs - Sept. 28
The Latest Headlines:
- Consumer Confidence Index Falls in September
- FedEx Shareholders Approve Increase in Shares for Stock Options
- Bush Asks Congress for More Aid as Florida Recovers From Jeanne
- FKI Logistex Wins Contract From Postal Service
- Lawsuit Accuses Wal-Mart of Discrimination
- Western Star Makes 'Significant' Sale
- FedEx Shareholders Approve Increase in Shares for Stock Options
Consumer Confidence Index Falls in September
The Conference Board said Tuesday that its consumer confidence index fell to 96.8 in September from a revised 98.7 the month before, the second straight decrease.The index is a prognosticator of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases the demand for trucking services.
The component of the index tracking assessments of current economic conditions fell to 95.5 from 100.7 in August.
FedEx Shareholders Approve Increased in Shares for Stock Options
Shareholders of FedEx Corp. on Monday approved a plan boosting the number of shares reserved for stock options to top executives, the company said.The plan increased the number of shares to 5 million from 2 million through 2013, the Wall Street Journal reported. The new shares are equal to about 0.7% of FedEx's outstanding shares.
FedEx is ranked No. 2 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Bush Asks Congress for More Aid as Florida Recovers From Jeanne
President Bush asked Congress late Monday for more than $7.1 billion to help Florida and other southeastern states recover from the damage of the fourth hurricane in six weeks, the Associated Press reported. This was Bush's third request for storm aid, bringing the total possible funding to more than $12 billion.After striking Florida on Sunday, Jeanne had weakened but was heavy rain and tornadoes were expected in portions of the Mid-Atlantic and Northeast.
In Florida, an unprecedented relief effort was underway including thousands of aid workers to distribute ice and water, while nearly 3,800 National Guardsmen were providing security, directing traffic and keeping gasoline lines orderly.
At least six people had died from the storm, and more than one million in Florida and the Southeast remained without power as of Tuesday morning, AP said. Transport Topics
FKI Logistex Wins Contract From Postal Service
FKI Logistex said it was awarded a $24 million contract for a bulk- and tray-mail sorting and distribution system at the U.S. Postal Service International Service Center at John F. Kennedy International Airport in New York.The company said in a statement the upgrade of the mail system would allow the Postal Service to improve the efficiency of receipt and unloading of mail from commercial airline carriers.
FKI said work was scheduled to begin in October 2004. Transport Topics
Lawsuit Accuses Wal-Mart of Discrimination
The Equal Employment Opportunity Commission filed a lawsuit last week in U.S. District Court in Little Rock, Ark., alleging Wal-Mart Stores Inc. discriminated against blacks seeking truck-driving jobs in 12 states, the Associated Press reported.Gus Whitcomb, a spokesman for Wal-Mart, told AP he could not comment on the lawsuit because he had not seen it, AP said. He also said Wal-Mart does "not discriminate in our hiring practices."
The suit seeks class-action status and accuses Wal-Mart of rejecting and discouraging black applicants for truck-driving jobs at the chain's distribution centers in Arkansas, Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia.
The suit asked that Wal-Mart be ordered not to discriminate and it sought compensation for those who've been discriminated against, AP said. Transport Topics
Western Star Makes 'Significant' Sale
Truck maker Western Star Trucks, a unit of Freightliner LLC, said it sold 40 of its model 4900 SA tractors to L&H Trucking Inc., Hanover, Pa., a truckload and less-than-truckload carrier with about 115 trucks.Western Star spokesman Tom Pfeiffer told Transport Topics on Sept. 23, “This is a big sale. It’s significant for us and the dealer. It’s a large quantity of trucks to one account.”
Western Star sold 1,438 trucks through August, according to Ward’s Communications.
Rivers Truck Center, Western Star’s dealership in Red Lion, Pa., handled the sale. Richard Brooks, a sales representative at the dealership, told TT it was Rivers’ largest sale of Western Star trucks. Transport Topics
