P.M. Executive Briefing - Jan. 28
This Afternoon's Headlines:
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Ryan Takes Blame for Scandal
Illinois Gov. George Ryan apologized to the state's residents Thursday for the bribes-for-licenses scandal that took place when he was secretary of state; some of the money allegedly went toward Ryan's campaign.The day before, Dean Bauer, who was secretary of state inspector general and Ryan's top aide at the time of the scandal, said he believes he will be indicted in connection with the scandal. An indictment of Bauer, who was in charge of removing corruption from the secretary of state's office, would be the first time the investigation came close to Ryan.
Ryan also would not say whether Bauer reported directly to him during their time in the secretary of state's office, although Bauer said in a court deposition that he did. There have been allegations in the past from onetime secretary of state employees that Bauer stopped probes that could have hurt Ryan politically. Chicago Tribune Online (01/28/00); Long, Ray
Big Trucks, Small Road Create Safety Concerns
Residents of Yalaha, Fla., have requested that Lake County deputies and the state Transportation Department's commercial-enforcement unit do something to address the problem of commercial haulers, especially sand trucks, speeding and tailgating on County Road 48. Speed limits on the stretch of the two-lane CR 48 between State Road 19 and U.S. 27 range are between 35 mph and 55 mph, although in most residential areas 40 mph is the limit.Montgomery Trucking Line manager Pat McLaughlin said trucks appear to be speeding because they are large and the road is small, but residents disagree. According to Lake Sheriff's Sgt. Nick Pallitto, speeding trucks have long been a problem on the road.
To combat the problem, he said, deputies have begun issuing more tickets, rather than warnings, and a radar trailer was situated near Stone Mountain Road. The problem is exacerbated by some companies paying drivers by the load, which makes them hurry, said Pallitto. Orlando Sentinel (01/28/00) P. 1, Lake Sentinel Section; Scott, Monica
Yellow Corp. Renames Systems Unit Yellow Technologies
Yellow Services, the technology-development subsidiary of Yellow Corp., has been renamed Yellow Technologies. This represents the subsidiary's concentration on creating and deploying information technology and other systems for the operations of other Yellow Corp. subsidiaries. Journal of Commerce Online (01/28/00)PTG Buys Assets of ATECH
Professional Transportation Group has agreed to purchase certain assets of ATECH Commercial Corp., which operates as U.S. Transportation and U.S. Transportation Services. PTG will take over ATECH's current routes and customers. TruckingInfo.com (01/28/00)Revenue, Net Income Rise for Eagle USA
Freight forwarder Eagle USA Airfreight says it saw record net income of $10 million for the first fiscal quarter, up 29% from the year-earlier quarter, and diluted earnings per share of 33 cents, up 22%, on record revenue of $187.4 million, up 29%. The company also saw operating income as a percentage of net income at 20%, up 0.8 points from the year-earlier quarter and 0.9 points from the fourth fiscal quarter. Journal of Commerce (01/28/00) P. 15Cummins Net Up on Generator Sales
Cummins Engine says it saw fourth-quarter net income, before a $60 million pretax charge, of $70 million ($1.82 per share), up 141% from the year-earlier figure and above the $1.59 per share First Call/Thomson Financial consensus estimate.Excluding the charge, which regarded costs related to ending a joint venture, the company saw $25 million (65 cents per share) in net income, down from $29 million (75 cents a share) in the year-earlier quarter, on record sales of $1.84 billion, up 13%. Sales were boosted by Y2K-related sales of generators. Reuters (01/28/00)
Big Transit Boost Urged
Prompted by C$2 billion in yearly losses for the local economy, attributable in large part to truck deliveries being impeded, the Greater Toronto Services Board is urging greatly expanded public transit to take extra vehicles off the road. Social and environmental concerns are also noted in the board report, which predicts businesses will abandon the area unless changes are made soon. Toronto Sun (01/28/00) P. 25Neff to Head GE Capital Small Fleet Services
GE Capital Fleet Services has appointed Richard Neff, formerly senior vice president for global quality, to the post of president and general manager, Small Fleet Services. Neff is taking over for Jeff Kiesel, now business leader at the new GE Small Business Solutions. Bob Williams, formerly eastern sales vice president, will be taking over Marian Powell's place as senior vice president, North American operations; Powell had been named senior vice president, e-commerce. TruckingInfo.com (01/28/00)© copyright 2000 INFORMATION, INC. Terms of Service
