P.M. Executive Briefing - Dec. 2
This Afternoon's Headlines:
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Navistar Reports Near-Record Results for Fiscal 1999
Navistar International said it saw $132 million in net income in FY99's fourth quarter, up from $99 million in the year-earlier quarter, with net income per diluted common share rising to $2.04 from $1.47.The company saw full-year net income of $366 million, up from $254 million in FY98, with net income per diluted common share rising to $5.52 from $3.47. The above figures do not include tax valuation allowance reductions, and the FY99 figures are bested only by the company's 1979 fourth-quarter and full-year figures.
The company also wants to be at the forefront of cutting diesel-engine emissions. It has demonstrated its Green Diesel Technology in a school bus with low-sulfur diesel fuel, cutting emissions of nitrogen oxides and realizing particulate emissions 90% below those of a typical compressed natural gas school bus. PR Newswire (12/02/99)
Parcel Vans Creak As Online Orders Reach Holiday Peak
Even though FDX and United Parcel Service say their coming holiday rush consists mostly of products bought via catalogs and other venerable means of selling, rather than Internet retail, both companies have focused on the Internet via partnerships with online merchants and adding Web site features.Forrester Research predicts an additional million-plus online purchasers, spending some $4 billion on e-commerce. Zona Research says during the Christmas season in 1998 55% of Internet purchases were shipped by UPS, which at the time got a million Web site visits daily and anticipates more this time around.
Both FDX and UPS have personnel preparing for the holidays close to a year ahead of time. UPS has leased many additional trucks and airplanes while adding 90,000 part-time employees, and it foresees handling 18 million packages when the season peaks Dec. 17.
Senior Vice-President of Marketing Joe Pine said the company expects to do well over the holidays because of the good economy and increase in purchases made online instead of at stores. Still, most UPS shipments are for business clients. While FDX says the business side is more important than the retail consumer side, it has established partnerships with merchants and last month created the FedEX MarketPlace site.
But the parcel carriers have not had much success winning retail logistics business, rather than just delivery business, away from firms like Fingerhut. Financial Times (12/02/99) P. 28; Liu, Betty
License Scandal Alert Is Widening
The Illinois secretary of state's general counsel Donna Mullen Leonard is to get in touch with Indiana, Iowa, Missouri, and Wisconsin motor-vehicle authorities regarding the possibility of truckers there getting CDLs via bribery in Illinois without qualifying.Claims that people from New York were licensed in Illinois, giving an address at a Motel 6 there, have sparked concern for Secretary of State Jesse White that "it's possible that people in neighboring states were doing that too," according to a White spokesman.
Officials in New York got in touch with Illinois for information regarding the CDL bribery scandal in May, said the spokesman, Dave Druker. The following month, Leonard followed up on reports of the probe into CDL abuses in Michigan by contacting authorities there, Druker said. Chicago Tribune Online (12/02/99) ; Cohen, Laurie; Zajac, Andrew
Mack Trucks, Inc. Selects Tecnomatix to Achieve Concurrent Engineering Environment
Using Digital Factory software from Tecnomatix Technologies, Mack Trucks personnel in the United States will be able to engage in collaborative engineering with counterparts in France at Renault V.I., Mack's parent company. Employees on both sides of the ocean will be able to share design, assembly, and development data via the software."Truck manufacturers are realizing the need of digital mock-ups and are benefiting from reduced production costs of building complex, physical prototypes," said Tecnomatix President and CEO Harel Beit-On, who described Renault V.I. as a "longtime Tecnomatix customer." Business Wire (12/02/99)
Wabash National Corporation Announces the Acquisition of the Apex Companies
Wabash National, producer of Wabash and Fruehauf trailers and RoadRailer units, said it has completed its purchase of the Apex Group, which comprises Apex Trailer Service, Apex Rentals, and Apex Trailer and Truck Equipment. The Apex Group, which has two branches in Indiana and two in Kentucky, saw 1998 revenues above $30 million. PR Newswire (12/01/99)New Penn Announces Interactive Web Site
The Pennsylvania-based regional LTL carrier New Penn Motor Express has gone online at www.newpenn.com, a site offering charges and company information in addition to shipment monitoring and other real-time data. Customers can also get faxes of bills of lading and proofs of delivery via the site. "We have plans for additional applications based on feedback from our customers," said Steven Ginter, company vice president of marketing. Business Wire (12/01/99)Roadway Express Receives Safety Award from Trailmobile
Roadway Express received the "Overall Best Fleet Safety - August 1998 to August 1999" prize for a Trailmobile Trailer and Arizona Motor Transportation Association-sponsored safety competition."Roadway earned this award based on our excellent vehicle accident performance while driving in Arizona and for improving our record over last year," said Roadway's Phoenix district safety manager Mark Sion. The company set safety records in all main categories last year. Layover.com (12/01/99)
Greyhound Package Express Reduces Shipping Prices
As the holiday season gets underway, Greyhound Package Express is lopping one-fifth to one-half off its rates for shipments of at least 800 miles within the United States.GPX general manager Dave Phillips said customers can avoid problems with lines and business hours at competing carriers by using GPX, which will accept packages at ticket counters when the GPX counters are not open. The rate cuts went into effect Wednesday and vary based on the size and amount of a customer's packages. PR Newswire (12/01/99)
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