P.M. Executive Briefing - Nov. 23
This Afternoon's Headlines:
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Yellow Corporation Names President of Saia Motor Freight Line
Yellow Corp. has promoted Richard D. O'Dell to president of the subsidiary Saia Motor Freight Line from his previous position as Saia's vice president of finance and administration. O'Dell has been working in finance and management for Yellow since 1987, including two years as WestEx's vice president of finance and administration. Former Saia President Jim Crisp resigned to buy a company in North Carolina. PR Newswire (11/23/99)Equipment Leasing Industry Tops $200 Billion in Total New Business Volume
The first State of the Industry Report from the Equipment Leasing and Finance Foundation says the leasing industry had $207 billion in 1998 new business volume, up 15% from the 1997 figure and the first time the figure has been above $200 billion. About 38% of that new volume, a plurality, was for transportation equipment; information technology came in second. The figure is projected to hit $233 billion by next year. The report also shows that banking and leasing are still coming together. Business Wire (11/23/99)
CNF Transportation Announces Y2K Readiness of Its Computer Systems
CNF Transportation said its roughly $40 million Y2K compliance project for its "business-critical" systems and software has been completed. The announcement covers the subsidiaries' systems as well. Contingency plans have also been developed, and CNF has checked on the Y2K compliance of vendors and other companies that work with CNF.CNF subsidiary Emery Worldwide, a member of the International Air Transport Association and the Air Transport Association of America, is examining findings from Y2K research involving those associations; the research regards computer systems at airports and governments. Business Wire (11/23/99)
State Highway Needs Draw 300 to Hearing
Rep. Asa Hutchinson (R-Ark.) hosted a House Transportation and Infrastructure Committee field hearing in Bentonville, Ark., about highway construction and the intermodal plans for Van Buren. Among the 10 committee members there were committee chairman Rep. Bud Shuster (R-Pa.) and Rep. Marion Berry (D-Ark.). Witnesses that testified included American Frieghtways President Sheridan Garrison, Tyson Foods board chairman John Tyson, and Wal-Mart Stores CEO David Glass.Discussed at the hearing was increasing U.S. 412, one of the few highways crossing the state from east to west, to four lanes; currently, it is largely two-lane. The witnesses unanimously supported additional Congressional funding for such roads as U.S. 412 and the planned I-49, which would run through the western part of the state.
owever, Garrison and Tyson were among the business representatives opposed to taxing trucks via a weight-distance levy. Among the provisions in the state's 1998 package for road funding were fuel taxes and voter-passed bond issue. State Highway Commission member John Lipton said to the committee that if the federal legislature creates an incentive the state's residents will back local road-funding taxes. The hearing saw roughly 300 attendees. Arkansas Democrat-Gazette Online (11/23/99) ; Thompson, Doug
Florida East Coast Industries Inc. Declares Quarterly Dividend
The board of Florida East Coast Industries, whose subsidiaries include the trucking and transportation company International Transit, has passed a 2.5 cents per share quarterly dividend. The dividend will be payable Dec. 17 to those holding common stock Dec. 3. Business Wire (11/22/99)Big Rig Services Go Online
Volvo Trucks North America is creating a Web service that will allow call centers to access detailed information on customers' vehicles and pinpoint engine problems through GPS technology. The service, comparable to OnStar from General Motors, would be available at a monthly price and has a hoped-for launch date of April.Meanwhile, February is the planned launch date for an online tool that will allow customers to pick options and plan their vehicle configuration. Computerworld (11/22/99) Vol. 33, No. 47; P. 18; Copeland, Lee
Truck Trailer Filled With Toys Disappears
A 53-foot trailer containing Mattel toys worth $16,000 disappeared from a Flying J Travel Plaza in San Antonio, Fla. The sides of the trailer, whose contents were headed for a Wal-Mart distribution facility, were painted with the words "Trucks For You." Tampa Tribune (11/22/99) P. 2, Pasco Section© copyright 1999 INFORMATION, INC. Terms of Service
