P.M. Executive Briefing - Oct. 12
This Afternoon's Headlines:
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Police Find 1 1/2 Tons of Dope in Tanker
The first Louisiana State Police High Intensity Drug Trafficking Area task force crackdown on a rural interstate netted roughly 15.5 pounds of cocaine and 3,426 pounds of marijuana, 3,220 pounds of which were in a truck made to look like an asphalt tanker.The tanker driver was pulled over for traffic violations, but troopers noticed several things about the truck that did not ring true. Prominent among them was a compartment attached to the side of the tank. After getting a search warrant, police found the marijuana inside.
The task force, with funding from a federal grant, picks a stretch of highway and makes traffic stops, which can lead to bigger discoveries. The five-day operation took place on I-12; earlier ones happened in relatively urban places. New Orleans Times-Picayune (10/12/99) P. B1; Boyd, Richard
FHWA Intends to Grant 40 More Vision Exemptions
In the Oct. 8 Federal Register, the Federal Highway Administration posted information about 40 truck drivers with vision problems in one eye who have applied to be allowed to perform interstate driving. The posting and the comment period ending Nov. 8 are the final hurdles before being given the exemption. Drivers must meet safety, experience, and abilityualifications. Land Line Magazine Online (10/12/99) ; Soendker, Sandi
The Associates Third Quarter Earnings Grow 22%; Net Earnings $386.8 Million, Up 22%; Net Earnings Per Share 53 Cents, Up 16%; Managed Receivables $81.7 Billion, Up 24%
The Associates First Capital Corporation saw third-quarter net earnings of $386.8 million up 22 percent from the year-earlier quarter, with earnings per diluted share of 53 cents, a 16 percent rise.The first nine months saw net earnings increase 21 percent from the 1998 figure to a record $1.08 billion, with per-share net earnings of $1.48, also up 16 percent.
Managed receivables were up 24 percent to $81.7 billion as the period closed, and return on managed assets was 1.71 percent.
Chairman and CEO Keith W. Hughes says "internal growth was strong for the quarter, following the integration of our largest acquisition-Avco Financial Services" as well as "continued success" otherwise.
The top areas of growth were the associates' transportation and equipment operations. PR Newswire (10/12/99)
Oregon Republicans Split on Anti-Gas Tax Measure
On Saturday, the central committee of the Oregon Republican Party voted 65-24 to endorse the state's May 2000 referendum against raising the state gasoline tax, but decided not to raise money to take a more active role because some members wanted to concentrate on finding and helping candidates instead.The tax, which would raise diesel taxes as well while scrapping the weight-mile tax on truckers, was put together with the aid of Republican legislators including weight-mile tax opponent Sen. Marylin Shannon (R-Brooks). It is intended to raise money for fixing up roads and bridges.
Party Chairman Perry Atkinson has steered the party toward strong opposition to the gas tax hike, despite some party members' role in creating it.
Because it gets rid of the weight-mile tax, the tax package has truckers' support.
Atkinson says the tax raises and the elimination of the weight-mile tax should be looked at apart from one another. Associated Press (10/11/99)
iFLEET Pioneers Use of Internet for Fleet Industry
ctober 29 will see the debut of iFLEET.net, a creation of the information-technology provider iFLEET intended for people in charge of automotive and commercial fleets.
The iFLEET.net service will be shown at the annual Management Conference and Exhibition of the American Trucking Associations. The service will include FleetCast, which gives news and other information about the fleet industry; Information Exchange, Which will allow interaction with other fleet professionals; Resource Center, for e-commerce-related things like e-coupons and product research; and Service Center, providing tools for everyday fleet management.
More information on iFLEET.net is available at http://www.ifleet.com. Business Wire (10/11/99)
Truck Trailer Manufacturing: A $5.5 Billion Industry in 1997
The Commerce Department's 1997 Economic Census revealed 388 establishments -- which include separate locations of one company -- and $5.5 billion in industry shipments in the truck trailer manufacturing industry, which exceeds the $4.5 billion reported in complete trailers, chassis, and containers.Primary product shipments totaled $5.3 billion, secondary products totaled $81 million, and resales totaled $256 million. The cost of materials was $3.765 billion -- 6.5 times the total of production workers' wages.
Aluminum and aluminum alloys made up the highest materials cost, totaling over $600 million.
Indiana had the most product shipments, at $1.35 billion, followed by Illinois, Wisconsin, Texas, and Alabama. Trailer/Body Builders (09/99) Vol. 40, No. 11; P. 108
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