P.M. Executive Briefing - Nov. 14
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DaimlerChrysler May Replace Head of U.S. Operations
DaimlerChrysler (DCX) may replace the chief executive officer of its U.S. operations with the chief of its commercial vehicle division, the Associated Press reported Tuesday. Dieter Zetsche would replace James P. Holden, with an announcement coming as early as Friday, according to AP. Holden has been at the helm for only a year.
DaimlerChrysler's U.S. unit suffered its first quarterly loss in nine years, AP said. Sales of its Class 8 trucks have suffered, as have sales of other heavy truck makers in the current oversupplied market. Transport Topics
Ryder Partners with From2
Ryder System Inc. (R) has formed an alliance with From2 Global Solutions, a logistics technology provider, the companies announced Tuesday.
From2 will provide Ryder with an online service that gives cost quotes for international purchase orders. Ryder will then help From2 with distribution, shipping, ware-housing and delivery.
Miami-based From2 develops e-commerce software and services for the transportation industry. Ryder, which is also based in Miami, offers transportation, truck leasing and supply-chain management services.
Transport Topics
NHTSA Putting Pedal to Metal, Contracting Out Research
The National Highway Traffic Safety Administration has to hit the accelerator - the agency needs to write more than 12 new regulations and complete three major studies in the next two years, largely because of new legislation triggered by the Firestone tire failures, the Washington Post reported Tuesday.Several rules are due for proposal in the spring. Also, a rollover standard for trucks is being sped up. NHSTA only has 620 employees, and will trying to hire 30 more. It plans to contract out research and testing, the Post reported.
Upgrades and integration of databases to improve trend spotting is on the agenda, to a tune of $2.5 million.
Putting vehicle defect files on the Internet is another goal. In all these endeavors, NHTSA seeks good information, not a not an indiscriminate data dump. Transport Topics
US 1 Industries Reports 58% Profit Boost in 3Q
US 1 Industries (USOO) reported a 58% boost in third-quarter earnings, totaling $12.8 million, compared with $8.1 million for the same period in 1999.The company's net income increased 175% to $165,947 in the third quarter, compared with net income of $60,364 in the same 1999 period.
Management credited the surge in profits to increased revenues, lower financing costs and improved cost control of company operations.
US 1 is primarily a non-asset-based interstate trucking and logistics company, operating in 48 states as well as most Canadian provinces. It obtains most of its business through independent sales agents and contracts with independent truckers to haul its freight. Transport Topics
Grupo Dina Has New Auditors, Board Chairman
Consorcio G. Grupo Dina (DIN) has new auditors and a new board chairman, the Mexican truck and bus maker announced Tuesday.BDO International Accountants & Consultants are the new external auditors. BDO will replace the firm of Arthur Andersen & Company, which resigned on October 16th in accordance with its previously an-nounced intention.
Gabriel Llamas Monjardin, a BDO partner, will become Chairman of Grupo Dina's board of directors.
Grupo Dina struggled to make a bond payment in August and sued Western Star when that company cancelled a multiyear contract. Western Star took the action after its purchase by Freightliner. Transport Topics
Postal Rate Hikes Affect Package Shipments
The new rate hikes that the U.S. Postal Service will levy in January include increases in the small-package Priority Mail service, a move that would make USPS a bit less competitive with private small-package delivery companies that use air and truck shipments.Although most news attention is on the one cent gain coming for letters, to 34 cents, the Postal Rate Commission set a one-pound Priority Mail rate of $3.50 from a previous $3.20, the Associated Press reported, and a two-pound rate of $3.95.
The cost of mailing newspapers and magazines will rise 9.9%, Reuters noted. Transport Topics
DOT Announces December Financial Reporting Workshops
The Department of Transportation's Bureau of Transportation Statistics has set four outreach sessions for December to help large trucking companies on requirements for reporting financial and operating statistics to the government - with a signup deadline of Nov. 21.The Office of Motor Carrier Information plans to make the information "readily accessible," to decisionmakers in the public and private sectors.
Representatives of trucking companies with revenues of at least $3 million are invited to attend. These companies are required to file annual financial and operating statis-tics reports. Companies with at least $10 million must file quarterly reports as well.
Workshop dates and locations are: Friday, Dec. 1 in Washington, D.C.; Monday, Dec. 4 in Chicago; Wednesday, Dec. 6 in Dallas; and Friday, Dec. 8 in Los Angeles.
Trucking company representatives should contact Russell B. Capelle Jr., at 202/366-5685 or russ.capelle@bts.gov by Nov. 21. Additional information is available at www.bts.gov/mcs. Transport Topics
IBM to Recycle Computers Via UPS
IBM (IBM) started a program Tuesday that allows consumers and small businesses to recycle their old computers. Participants can send off old computers, printers and other peripherals via United Parcel Service (UPS) to a recycling center in Hallstead, Pa. There the machines will either be refurbished and donated to charity or recycled.In 1998, approximately 20.6 million computers became obsolete, according to a survey by the National Safety Council, the company said. Yet, most of these computers collected dust in attics, the survey noted.
With this new partnership, IBM plans to transport some of the 314 million computers expected to become obsolete by 2004. Transport Topics
Old Dominion To Move Corporate Offices
Less-than-truckload carrier Old Dominion Freight Line Inc. (ODFL) plans to move its corporate headquarters into a 162,000-square-foot building at the corner of I-85 Business and National Highway in High Point, N.C., the company said Tuesday. Currently, the corporate offices are on Westchester Drive.Renovations on the building will begin in January 2001. More than 325 employees will be working in the building, the company said.
Old Dominion serves more than 20,000 direct points. It has service centers nationwide and in Canada, Mexico and Puerto Rico. Transport Topics
Headlines From Today's A.M. Briefing
- Diesel Continues to Drop in Most Areas
- Employers With Ergonomics Programs May Not Face Much Change
- Yellow Names CFO From Outside; Promotes Freight System VP
- U.K. Truckers Protest Fuel Taxes
- U.S. Retail Sales Rise Slightly
- Daewoo Shuts Second Plant, GM Buyout Still Possible
- SUVs, Pick-ups Favored Among Thieves
- DaimlerChrysler to Recall Jeep Cherokees in Brazil
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