P.M. Executive Briefing - Nov. 2
This Afternoon's Headlines:
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North Carolina Creates Task Force in the Name of Safety
A task force of North Carolina state agencies is looking into the possibilities for a proposed I-64 weigh station on Sandstone Mountain prior to a descent where about a dozen truck accidents have occurred in two years. Checking brakes and establishing lane-use rules for trucks on the mountain are two possibilities being mulled by the task force. Land Line Magazine Online (11/02/99) ; Carlson, DonnaBig Rigs Risking 'Boot' for On-Street Parking
In a move to remove semis from city streets, the Transportation Committee of the Chicago City Council has passed an amendment that would "boot" a big rig parked on the street while not delivering or picking up freight – on the first offense.
ccording to 38th Ward Alderman Thomas Allen, the sponsor, independent drivers who come home for the weekend and park their trucks on the street are safety hazards and eyesores, and they take space from cars.
Chicago Trucking Association Executive Director Fred Serpe urged the city to establish parking depots near public transportation. Serpe said many independents are immigrants who would not be able to afford the proposed fees and instead would give up the trucks. The booting fee and fine for damage to the boot would be higher than those for non-truckers. Chicago Tribune Online (11/02/99) ; Washburn, Gary
Vitran Reports 1999 Third Quarter Results, Its Twelfth Straight Reporting Period of Higher Earnings
Vitran says it saw C$121.4 million in third-quarter revenues, up 14% from the year-earlier quarter, with C$9.4 million in earnings before interest, taxes, depreciation and amortization, up 17%, C$6.1 million in operating revenue, up 12%, and C$2.9 million in net income, up 4%. Third-quarter basic earnings per share was steady at C$0.30 and fully diluted earnings per share steady at C$0.27.The first nine months saw C$360.2 million in revenues, up 23% from the comparable 1998 period, with C$28.2 million in EBITDA, up 39%, C$18.4 million in operating income, up 36%, and C$8.2 million in net income, up 29%. Basic earnings per share for the first nine months was C$0.83, up C$0.16, and fully diluted earnings per share C$0.77, up C$0.14.
"The third quarter extends our streak of quarterly earnings gains to twelve," says President and CEO Richard D. McGraw. The company has secured a C$65 million revolving/term credit facility and has okayed a C$0.035-a-share dividend payable Dec. 31 to those holding Vitran stock as of Dec. 15. Business Wire (11/02/99)
Japan's Hino Motors Suffers Losses in First Half
Hino Motors says in the six months ending September it had a 17.9 billion yen, or $170 million, parent net loss, smaller than its 21.4 billion yen net loss in the year-earlier period. It blamed higher expenses and a 1.8% year-over-year drop in sales. The Japanese truckmaker projects 476.6 billion yen in sales and a 15.2 billion yen parent net loss for the fiscal year, which ends in March. Agence France Presse (11/02/99)Western Star Selects EAI Open Enterprise Visualization as Its Preferred Product Visualization and Digital Prototyping Solution
Western Star Trucks has picked the Open Enterprise Visualization products from Engineering Animation for use in truck design, EAI says. The VisView and VisMockUp products from EAI will work with the Pro/ENGINEER computer-aided design application from Parametric Technology Corp. and Matrix Global Advantage from Matrix One, both of which are already used by Western Star.Western Star Director of Engineering Mark Gobessi says the EAI products "will enable Western Star to bring together a variety of product data, regardless of its source or platform, to visualize and analyze large assemblies in a meaningful way." PR Newswire (11/02/99)
Comedian, Plant Workers Team Up
This year marks the first time the Toys for Tots Bicycle Drive at the Freightliner plant in Gastonia, N.C., has expanded beyond plant employees to the general public. The drive, which mostly used to take the form of raffles, is now selling tickets to a Saturday performance in town by comedian Tim Wilson, whose act deals with Southern culture.The nationwide Toys for Tots organization has okayed the use of the name by the local drive, which has an agreement with the Wal-Mart in Lincolnton for the purchase of bicycles. The bikes are put together by Freightliner workers and given out to families by the Salvation Army. Charlotte Observer (11/01/99) P. 2L; Wilson, Chip
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