P.M. Executive Briefing - Feb. 2
This Afternoon's Headlines:
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Teamsters Plan Regular Protest Rallies
The Monday rallies staged at East Coast ports by independent drivers will continue on every other week until their demands for better wages, union recognition, health benefits and pensions, wait-time pay, equipment roadability guarantees, and whistle-blower protection are met, said Teamsters spokesman Ron Carver.A Teamsters-written "Port Trucker Bill of Rights," was presented to port officials or government officials during the protests. Independent drivers are also pressuring port authorities to force the private companies that operate at the ports to pay better rates, but port authorities said they cannot dictate terms to private-sector businesses.
The Teamsters union said it will sponsor future port rallies and expand the biweekly demonstrations to Gulf Coast and West Coast ports. Journal of Commerce (02/02/00) P. 1; Mongelluzzo, Bill
DaimlerChrysler Commercial Vehicle Revenue Rises 15% in 1999
DaimlerChrysler said its commercial-vehicle division's 1999 revenue was over $26 billion, up 15% from the previous year, as U.S. sales for Freightliner, Sterling, and Thomas Built Buses rose 52% to total 194,600 units. Total company sales were 555,000 units, and it predicts that commercial-vehicle sales and revenue this year will be similar.The company said the division benefited by being divided into five business units, including Freightliner and Sterling Trucks and Mercedes-Benz Trucks, enabling divisions to move faster into new markets. However, the declining economy in Latin America caused commercial-vehicle sales there to drop 23% to 44,600 units. Associated Press (02/02/00)
Crash Probe Focuses On Truck Driver
The preliminary probe of the Friday crash of a commuter train and a Mercury Transportation truck in Glendale, Calif., is concentrating on the actions of trucker Arron Bellmyer. The truck, carrying a nearly 19-foot-high load, had a pilot vehicle in front and a California Highway Patrol escort, but the truck driver has the final responsibility, officials said.Mercury Transportation hired West Coast Services to take care of permits along the route, which ran from Arizona to El Segundo, Calif., but were unable to get a permit for Glendale, where city police are looking into the absence of a permit.
Before the crash, the pilot vehicle missed a left turn and went over railroad tracks, with the truck following behind. CHP officers told the trucker to make a U-turn and re-cross the tracks, where the truck became stuck and was hit by the train. According to Glendale police, the truck bottomed out when it tried to cross back over the tracks from the north side to the steeper south side.
CHP Commissioner Spike Helmick said the police escort was responsible for the safety of motorists, not of the truck, and that the officers had no option but to instruct the trucker to re-cross the tracks, which they thought the truck could do. He and Glendale Police traffic bureau commander Lt. Don Meredith both said the trucker knows the truck's capability.
The trucker did not tell the CHP he did not have the right permits, Meredith said. Los Angeles Times (02/02/00) P. 1B; Kondo, Annette
Volvo FY Truck Deliveries 85,987 Units, Up 2%
Volvo said that Volvo Truck's truck deliveries for the full year rose 2% to 85,087, and that its "order book is stable at a high level" even though there was a slight December decline in North American demand. AFX European Focus (02/02/00)Ford Is Hiring UPS to Track Vehicles as They Move From Factories to Dealers
United Parcel Service and Ford Motor have teamed up to track more than four million Ford vehicles as they are shipped to dealers.With the Internet and bar codes, dealers will be able to find out precisely where their ordered vehicles are, just as UPS packages are tracked online by consumers. The tracking technology could be used in the future for customized cars ordered online by consumers via dealerships.
UPS' logistics services are also used by Nike and DaimlerChrysler. Wall Street Journal (02/02/00) P. A6; Warner, Fara; Brooks, Rick
Thieves Take $500,000 Worth of Racing Tires They Can't Sell
A white 53-foot Cannon Express trailer containing $500,000 in slick racing tires was stolen from a Speedway Truck Stop on Interstate 75 in Ocala, Fla., Saturday or Sunday.According to Marion County Sheriff's Sgt. W. Bibb, the two-foot-wide Yokohama prototype tires are strictly for this Saturday's Rolex 24-hour race at Daytona International Speedway and not for use in other races. The trailer will likely turn up in south Florida, minus the 400 tires, Bibb said.
Stolen property is often held in storage sheds until the thieves get rid of it. But the race will go on, since racing teams are always ready with more tires than needed, said speedway spokeswoman Kathy Catron. Orlando Sentinel (02/02/00) P. D3; Lelis, Ludmilla
Yellow Upgrades Rates and Load Tracking Online
Yellow Freight System's Web site now gives customers shipment rates, down to the cent, as well as pricing for other services such as inside delivery.The My Rate Quote feature is available to registered users of the free, password-secure My Yellow section of the site. My Yellow also offers shipment tracking, reports, service maps, and Exact Express quotes. Another service allows bills of lading to be completed on the Web, and bill-of-lading and proof-of-delivery copies are available for 120 days. TruckingInfo.com (02/02/00)
CNF Transportation Reports 63% Rise in Net Income
CNF Transportation said increased demand for regional trucking and Emery Worldwide service pushed its fourth-quarter net income up 63% from the year-earlier quarter to $53.1 million (97 cents per share). Revenue was $1.57 billion, up 15%.Con-Way Transportation saw $490.6 million in revenue, up 15%, with $57.1 million in operating income, also up 15%. Menlo Logistics saw revenue up 25% with operating profit of $6.13 million, up 20%. Emery saw $675.8 million in revenue, up 13%, with $32 million in operating income, up from $13 million. San Francisco Chronicle Online (02/01/00)
PACCAR Earnings Rise on Strong Truck Demand
PACCAR's earnings for the fourth quarter, excluding an after-tax gain from selling assets, rose to $162.4 million ($2.06 per share), above the $1.93 EPS predicted by a First Call/Thomson Financial analysts' poll. Sales hit $2.2 billion, up 5% from the year-earlier quarter.CIBC Oppenheimer analyst Charles Harris said the truckmaker's results were above expectations and "reflected the underlying streak of the heavy-duty truck market in the fourth quarter." Both North American and European truck demand was strong, PACCAR said.
Analysts say PACCAR's results will not go up as much this year as last year but expect it to do better than other companies since its demand remains strong. Goldman Sachs analyst Joanna Shatney also said the company's European exposure will rise next year, although the company rates the stock neutral. In early 2000 PACCAR will start making Foden trucks at its Leyland plant in England, the company said.
The company's net earnings, counting $17.5 million from selling its retail auto-parts operations, rose to $179.9 million ($2.28 per share) from $114.9 million ($1.46 per share). Reuters (02/01/00); Badawy, Manuela
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