P.M. Executive Briefing - Jan. 3
This Afternoon's Headlines:
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Research Alert - Landstar Earnings Estimate Raised
CS First Boston is increasing its earnings estimate for Landstar Systems from $4.50 to $4.70 and raising its recommendation to strong buy. The firm predicts that all Landstar business segments will perform above expectations and that investors will "recognize the high return and cash flow characteristics of the company." Reuters (01/03/00)Intermodal Yard Costs Cut By 75%
The proposed Superterminal Memphis intermodal site may be delayed even though the projected costs have been reduced from $360 million to $99 million. The terminal may be delayed by the Canadian National Railway and Burlington Northern Santa Fe merger, which could push back CN's expected agreement to use the terminal.
With the CN/BNSF merger in the works, only Canadian National/Illinois Central, CSX, and Norfolk Southern are eyeing the joint-use intermodal facility. But the initial cost estimates assumed the five railroads, including CN and BNSF, would be involved. Now, organizers simply want to sign up one company to be the catalyst that will bring others aboard the project. Memphis Business Journal Online (01/03/00); Paulk, Michael
Emmpak Puts a Chill on Cooper
Cooper Power Systems Transportation is suing Milwaukee-based Emmpak Foods for $37,501, alleging that almost 22 tons of steel were ruined by being hauled in a refrigerated truck by the Emmpak trucking unit Wispak Transport.In 1998, Cooper contracted with Wispak to carry the steel from an Indiana supplier to Cooper's location in Waukesha, Wis. After it was delivered, the steel was found to be moldy and wet, and it was eventually ruined by rust, according to the complaint in Milwaukee's federal District Court. The Business Journal of Milwaukee Online (01/03/00); Gallun, Alby
FHWA Launches Specialized Vehicle Weight Study
The Federal Highway Administration is seeking public comments for its study of the discrepancy, caused by short wheelbases, between specialized hauling vehicles' maximum weight under the federal bridge formula and their grow weight limit based on axle limits.The Transportation Equity Act for the 21st Century requires FHWA recommendations on the issue by June 9, and comments should be in by the end of February for thorough consideration by the agency. The Dec. 30 Federal Register, containing the agency's request and questions, is available online at www.access.gpo.gov. Heavy Duty Trucking Online (01/03/00); Smith, Pat
Program Would Forecast Traffic
A researcher at Georgia Tech is designing software to predict traffic congestion and display the information on a colored map like the ones used for weather forecasts.Civil engineering professor John Leonard's software currently employs variables like weather and events in addition to historical information from the state Transportation Department to show current drive times from five starting points in the Atlanta area.
Two months from now, he predicts, users will be able to point their computer mouse to indicate any starting point on the map. He is working on a numerical scale to reflect the severity of congestion.
Also in development is a system to forecast conditions a day ahead, and Leonard says such forecasts could debut in about a year. Other metropolitan areas' traffic management systems could use Leonard's concept, he says. The current version of the map is available online at traffic.ce.gatech.edu/trafficweather. Associated Press (01/02/00); Pilcher, James
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