P.M. Executive Briefing - Mar. 23
This Afternoon's Headlines:
ul>
New Agency to Regulate Vehicles OK'd
Georgia will consolidate most motor vehicle-related services into one new agency, the Department of Motor Vehicle Safety, if the governor approves a bill that passed the state legislature Wednesday. Registration, truck-weight oversight, licensing, and other services are spread among four or more agencies now. Atlanta Journal-Constitution (03/23/00) P. 1C; Mantius, PeterUPS Logistics Group Opens Texas Maquiladora Center
A new UPS Logistics Group facility in Laredo, Texas, is the beginning of a center that will provide cross-docking, fulfillment, warehousing, customs brokerage, and other services for the Mexican garment maquiladoras and for distribution among the three Nafta countries.
At present, the facility has its own satellite-tracked truck fleet that can handle LTL, truckload, and parcel shipments. Journal of Commerce Online (03/23/00)
Harbor Truckers Make Trip to Washington for Protest
A Teamsters rally for harbor truckers Wednesday drew about 300 drivers from East Coast ports between Virginia and New York, according to a spokesman for the Teamsters' port division.Union President James P. Hoffa spoke at the Washington rally, which came during a House Judiciary Committee hearing regarding shipping firms' antitrust exemption. George Carver, director of the Teamsters' port division, said the exemption should be ended because it allows lines to set rates that lower the truckers' income.
The Journal of Commerce editorialized in December that truckers have trouble making ends meet while employees at ship lines and ports earn middle-class to upper-middle-class wages, so ports and steamship companies should work to improve productivity.
The union will hold another meeting for drivers at Hampton Roads, Va., on April 2 in Norfolk. Norfolk Virginian-Pilot Online (03/23/00); Dinsmore, Christopher
State's Law on Cheap Gasoline Facing Court Test From Ohio Company
Ohio-based Ports Petroleum is challenging the Missouri Motor Fuel Marketing Act, a 1993 law under which filling stations in the state cannot sell fuel below cost if the move hurts competitors, regardless of whether the effect on competitors is intentional.The challenge by Ports, which had a similar Arkansas law overturned by the state supreme court there, went down in trial court but is expected to be appealed to the Missouri Supreme Court. Similar laws in 15 other states say the effect on competitors must be intentional.
Ports Petroleum President Michael Ports called the law unconstitutional and "anti-consumer" and said it has the ultimate effect of raising prices. Cleveland Live Online (03/23/00)
Laidlaw Warns It May Restate Financial Results
An internal investigation into accounting practices being undertaken by the South Carolina hazardous-waste company Safety-Kleen may force Laidlaw, which holds 44% of Safety-Kleen, to restate its past three years' financial results.It may also have to write down its present $603.8 million value on its Safety-Kleen holding; analysts say it will need to end up at $100 million or below. Analysts also say such a hefty writedown could hurt Laidlaw's equity base and break loan covenants but Laidlaw will probably remain a viable business. Wall Street Journal (03/23/00) P. A10; Greenberg, Larry M.; Cherney, Elena
© copyright 2000 INFORMATION, INC. Terms of Service
