P.M. Executive Briefing - Jan. 5
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CF Plans to Open 3 Terminals by Spring
Consolidated Freightways (CFWY), a major less-than-truckload carrier, is expanding long-haul operations and capabilities throughout its Mexico division with $17 million in new construction and upgraded state-of-art terminals on both sides of the border, the company announced Thursday.Within the next 90 days, some 234 dock doors at three new U.S. terminals - in Phoenix, Ariz., Laredo and McAllen, Texas - are scheduled to begin handling cross-border freight. When CF opens its super hub in Mexico City mid-year, CF says it will boost its leading position as the largest and most extensive LTL network serving the U.S.-Mexico market.
Three other new Mexican terminals came online several months ago. CF says its network of 350 terminals serves virtually every market in the U.S., Canada and Mexico. Transport Topics
U.S. Jobless Rate Steady; Factories Lose More Jobs
While the U.S. unemployment rate held steady at 4% in December, the Labor Department said Friday the manufacturing sector lost 62,000 jobs during the month in a further sign of how sharply the U.S. economy is slowing.Those job cuts come from a sector that is a heavy customer of the trucking industry, so the report holds another worrisome sign for trucking shipments going forward.
In the wake of this week's cut in interest rates by the Federal Reserve, economists will be watching for any sign that the contracting factory sector might stabilize and start to perk up again, which in turn would spell good news for truck freight volumes. Transport Topics
Houston Police Crack Down on Truckers Driving I-10
Houston Police gave 401 tickets to truckers voilating left-lane restrictions on Interstate-10 during the last 3 months, the Houston Chronicle reported this week.The traffic tickets were part of a Texas pilot program that is looking at the effects of keeping 18-wheelers out of the left lanes of highways, the article said. The program began in October and continues through June. If successful, other highways will have similar lane restrictions.
The program, which only applies to a tiny stretch of I-10 within Houston, also resulted in 20 warnings, 5 arrests and 47 accident investigations, the paper said. Transport Topics
Intermodal Freight Volumes Shrink
Intermodal freight volume declined the week of Dec. 30 with a total of 124,040 trailers and containers, a 4.7% drop compared to the same week in 1999, the Association of American Railroads reported. Week 52 for both years contained a holiday - Christmas in 2000 and New Year's Day in 1999.Both trailers and containers posted lower volumes during week 52. However, through most of December, containers registered a small gain over 1999 levels.
The total number of trailer units dropped 13.2% with 37,330 units. Total containers carried on U.S. railroads dropped 0.5% with 86,710 units. Transport Topics
FedEx May Order 10 Airbus Freighters
FedEx Corp. (FDX) is close to ordering 10 large cargo planes from European aircraft giant Airbus Industrie, the Wall Street Journal reported Friday.FedEx not only wants a large plane, but one that will serve as a symbol - pushing the Memphis, Tenn.-based company deeper into international markets, according to the Journal. The new planes would help FedEx target multinational corporations needing deliveries to the U.S. or about 210 other nations where it has operations.
FedEx expects international shipments to produce double-digit growth, despite recent economic slowdowns, according to the Journal. Transport Topics
New Home Sales Holding Up Despite Drop
New home sales remain strong despite the weakening economy, BridgeNews reported Friday.Construction materials, appliances and furniture for those homes all produce loads for trucking companies.
New single-family home sales fell 2.2% in November to a seasonally adjusted annual rate of 909,000 units -- but sales for that month were still 1.6% above 1999's pace of 895,000, the news service said.
The firmness stems from the steady decline in mortgage rates, the news service said.
However, an analyst warned that those rates fell in anticipation to the Federal Reserve lowering some rates -- the cuts the Fed made this week are unlikely to spur a large drop, the analyst said. Transport Topics
EToys to Close Calif., N.C. Warehouses
Online retailer eToys plans to close warehouses in City of Commerce, Calif., and Greensboro, N.C., in the next 30 to 60 days, and reassign those operations to distribution centers in Ontario, Calif. and Blairs, Va., E-Commerce Times reported Thursday.Job cuts are also planned for 70% of the Los Angeles-based company's employees, the story said.
Other reports have noted that toys have not fared as well as well some other products in the e-commerce realm, because consumers like to try them out before buying. Toysrus.com seems to be beating out other toy e-tailers, the story said. Transport Topics
Volvo to Build Trucks in Russia
Volvo Trucks will begin assembling trucks in Russia in midyear, the Interfax News Agency reported Friday.They will be built in Zelenograd at VTC-Zelenograd, a joint venture between Volvo and the Russian manufacturer Sistema. Volvo has a 66% stake in the venture.
About 200 to 300 FH12 trucks are slated for production in the first year - 100 have already been ordered from a Moscow construction company, Interfax reported. In 2001, Volvo plans to begin building buses in Tartarstan - at least 150 units a year.
Volvo Truck will continue to supply trucks from Sweden. It now sells about 500 trucks to Russia annually, the news service said.
Two Low-Emission SUVs Unveiled
Two low-emission sport-utility vehicles were introduced at the Greater Los Angeles Auto Show, the Associated Press reported.Dodge showed off its PowerBox SUV, which features a 2.7-liter, V-6 supercharged engine the runs on compressed natural gas and has an electric motor to provide extra power for acceleration and passing.
Dodge claims it the PowerBox has 60% greater fuel efficiency than a comparable vehicle with nearly zero emissions.
Ford Motor Co. (F) also introduced a low-emisson SUV, but said it would go on sale in 2003. The Escape HEV would have an electric drivetrain combined with a four-cylinder gasoline engine, according to AP. The company plans to build the vehicle in Kansas City, Mo. Transport Topics
Headlines From Today's A.M. Briefing
- NHTSA Eyes Honeywell Brake Component
- Mitsubishi To Get New COO
- Boyd Bros. Predicts 4Q Loss
- Crude Oil Prices Continue Climb With Planned OPEC Cut
- U.S. Shareholders Sue Bridgestone Over Recall
- DaimlerChrysler's China Unit to Continue Making Jeep Cherokees
- ComRoad to Take Controlling Interest in Comworxx
- LanChile Signs Pilot Contract Early
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