P.M. Executive Briefing - Jan. 13
This Afternoon's Headlines:
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Marten Transport Sees Higher Fourth Quarter Net
Marten Transport announced it expects to report fourth-quarter 1999 earnings of roughly 66 cents a share, which would beat a First Call/Thomson Financial poll estimate of 35 cents as well as the year-earlier figure of 36 cents.President and Chairman Randolph Marten said during the fourth quarter the company "realized a strong benefit from a number of special customer demands for freight services." The company believes the special freight services demand will keep up through the opening weeks of this year.
Execs Eye Merger of Trucking Firms
U.S. Trucking CEO Dan Pixler and Chairman Anthony Huff are considering a merger with the Georgia-based carrier Professional Transportation Group, probably through a stock-swap arrangement. Logistics Management, in which Pixler and Huff are partners, purchased a 56% stake in PTG last month from PTG President and CEO Dennis Bakal. Logistics Management has given PTG money since then to help it improve relations with its chief creditor.As a Federal Express hauler, PTG has communications and satellite technology that should help it capitalize on the growth in e-commerce delivery, said Pixler in a statement. The proposed deal would create a merged entity with revenues in excess of $100 million. Charleston (S.C.) Post and Courier Online (01/13/00); Parker, Jim
Trucker Buddy Weighs Future
The Trucker Buddy program has suffered setbacks in the past six months, such as the resignation of several board members, a drop in sponsors, and critical questions by a former Trucker Buddy participant.The charity, which creates pen-pal links between truckers and school classrooms, decided in June not to renew the contracts of then-president Tom Wetzel and his public relations agency Norcom. Health problems, time constraints, and withdrawn sponsorships were some of the reasons cited by resigning board members. Former sponsors that have backed out of Trucker Buddy include Kenworth, Michelin, Contract Freighters, and U.S. Xpress.
U.S. Xpress driver T.J. Graff, a onetime Trucker Buddy, has launched continuous attacks at the charity. He took issue with the decision to sign up with Norcom, since it was Wetzel's employer; the inclusion of sponsor representatives on the charity's board; and the lack of thorough background checks.
Board members admit there have been problems but charge that Graff is bitter because Gary King, the charity's founder, refused to purchase hats and phone cards from Lil' Dynamite, Graff's company. Heavy Duty Trucking Online (01/13/00); Lockridge, Deborah
3 Plead Guilty in License Scam
Onetime Illinois secretary of state employees Soon Cho and Ronald Martin and former Enigma Driving School owner Wojciech "Wally" Grabinski entered guilty pleas Wednesday related to a bribes-for-CDLs scheme at the Elk Grove Village licensing site. They also agreed to cooperate with federal authorities in the Operation Safe Road investigation of the Illinois license bribery scandal.The three said they received $100,000 or more in all in the scheme, in which Cho and Martin accepted money from Grabinski in exchange for passing marks for his students. A number of the students could not speak English.
A certain amount of the money went toward fundraisers for then-Secretary of State George Ryan's successful gubernatorial campaign. The charges claimed that a minimum of $15,000 worth of fundraiser tickets were given to Cho to sell in a three-year span. According to the plea deals, two other trucker schools also bribed Cho and Martin to pass their students. Chicago Tribune (01/13/00) P. 3, Metro Chicago Section; O'Connor, Matt
Detroit Diesel Testing EGR Engines for 2002
Detroit Diesel is working hard to have exhaust gas recirculation engines, which many believe to be the best way to comply with the Environmental Protection Agency's 2002 emissions rules, ready for the 2002 model year. Among the field testing of the EGR system currently underway is a city bus driving the Detroit streets daily allowing engineers to collect data on the bus's EGR-equipped Series 50 engine.To meet emissions rules, the company plans to put EGR systems in all of its Series 50 bus engines this spring. Detroit Diesel believes the EGR engines will not need add-on systems in order to comply with the 2002 EPA rules. Heavy Duty Trucking Online (01/13/00) ; Winsor, Jim
Logistics Provider Exel Changes Name
Exel Logistics is dropping the world "logistics" from its name and will be known as Exel. Company CEO Gerry Murphy said Exel now provides thorough supply-chain solutions that exceed the traditional transportation-and-warehousing definition of logistics.A third of the top 50 businesses in the world use the company's services, which include subassembly, packaging, sequencing, and home delivery. The company will spend two years introducing its new identity, starting at the beginning of March. Journal of Commerce Online (01/13/00)
County Bans Unmuffled Compression Brakes
Clark County, Wash., has banned the use of unmuffled compression brakes in response to residents' noise complaints. Residents said log truckers speed on state Highway 503 before using the engine brake when they hit a downgrade near the East Fork of the Lewis River.State Dump Truck Conference President Gerry England said adding a muffler costs $100 to $125 and said "an unmuffled Jake is just rude." County public works manager Shyu-tu Lee put the installation price as high as $300 to $800. The Columbian (Vancouver, Wash.) (01/12/00) P. B3; Baker, Dean
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