P.M. Executive Briefing - Oct. 10

• Headlines From Today's A.M. Briefing

Oil Prices Rise on Weather, Conflict Concerns

Oil jumped as much as $1 to $32.86 per barrel on the New York Mercantile Exchange, and as much as 82 cents to $31.82 per barrel on London's International Petroleum Exchange, the article said.

Both the early cold weather and the Israeli-Palestinian conflict are causing concern over oil supplies, which are already lower than in 1999, Bloomberg said. Transport Topics

Minnesota Experiments With Ramp-Meter Shutoff

The shut-off study is the first of its kind in the United States or the world, a Minnesota Department of Transportation official said in the story. The study will monitor traffic before and after the meters are shut off, and will also gather traveler reactions through focus groups and surveys, the newspaper noted.

Minnesota has spent $70 million over 30 years for the 430 meters, the article said. Ramp meters theoretically make traffic flow more smoothly by controlling how vehicles merge onto highways, but no study has been done to prove their effectiveness in Minnesota or elsewhere, the Press said. Transport Topics

Florida East Coast Completes Recapitalization

St. Augustine, Fla.-based FECI operates four subsidiaries involved in rail, truckload and intermodal freight as well as logistics services, real estate and telecommunications.

The St. Joe Company, which has owned FECI for 40 years, completed the spinoff of its roughly 54% interest in FECI. St. Joe will now receive FECI Class B common stock under the recapitalization.

The shareholder rights plan will give each holder of FECI common stock a dividend of one preferred stock purchase right for each outstanding share of common stock held. The plan also includes triggers to prevent a hostile takeover of the company. Transport Topics

Cummins Develops Natural-Gas Engine

The engine has a peak torque of 850 lb-ft at 1400 rpm and a governed speed of 2400 rpm in heavier vehicles such as refuse trucks, the company said.

"The C8.3G has become the engine of choice for operators looking for the best fuel economy in this class," said Dave O¹Brien, Cummins marketing manager for alternative fuel engines.

Cummins offers products and services for engines, power generation and filtration, and said it is the largest producer of 200-plus-horsepower diesel engines. Transport Topics

New Bridgestone/Firestone Chief Boosts Recall Timetable

Lampe's plan has three main initiatives: accelerating the recall effort, assembling a new management team and creating new methods to examine product performance data, the company said.

Lampe said his first act was to express a "sincere apology" to those affected by problems with Firestone's tires.

"We can debate over cause and responsibility for there is much that is not known," he said. "But that does not change the fact that there have been tragic accidents, and for this I am deeply sorry." Transport Topics

House Seen Rejecting Truckers' Fuel Surcharge Bill

The surcharge bill should reach the floor for a vote late on Tuesday afternoon. Under it, freight shippers would pay the surcharge, and it would go to small-business truckers.

Already, large trucking companies sometimes apply a fuel surcharge but small haulers and truck owner-operators often feel powerless to recover their extra fuel costs. John Wislocki, Transport Topics

Headlines From Today's A.M. Briefing

• DaimlerChrysler Makes Progress on Acquiring Detroit Diesel
• Bridgestone/Firestone Said to Replace Ono With Lampe
• Wabash Issues 3Q, 4Q Warnings
• Korean Air Cargo Opens JFK Terminal
• N.C. Carrier W&L Motor Lines Closes
• TRW Recalls Seat Belts in Ford, GM Vehicles
• UPS Logistics Purchases Livingston
• Aussie Truckers Protest Outside Parliament
• Gordon Named Interpool CFO
• TNT Launches Wireless Tracking

Get the latest trucking news sent directly to you! Subscribe to our daily e-mail newsletter! Full Name: E-mail Address: