A.M. Executive Briefing - Dec. 2
This Morning's Headlines:
ul>
Operators Seek To Organize
Independent port truckers will get together with Teamsters delegates and experts on the law Saturday in Charleston, S.C., in an attempt to gain representation from a nationwide labor union and become employees in the eyes of the law.As independent contractors, they are enjoined by federal law from engaging in collective bargaining, and organization is unattractive to companies due to attendant cost increases. While their industry is made up of numerous small local companies, port truckers have engaged in job actions in 1999 due to similar problems nationwide.
Ryder Enjoins Former Officer
As a result of a lawsuit by Ryder System and Ryder Truck Rental, federal Judge Patricia A. Seitz prohibited onetime Ryder Vice President of Operations Donald C. Kelley, as well as Kelley Fleet Services, from pursuing Ryder customers' business. In addition, they cannot make use of proprietary Ryder data or recruit the company's workers.Ryder also won a monetary award from Kelley and his new firm, which also must not make negative statements regarding Ryder. PR Newswire (12/01/99)
IRD Awarded $3 Million Contract
International Road Dynamics has won a $3 million Lockheed Martin contract for automated Colorado Department of Transportation weigh stations. The seven stations will combine IRD's Weigh-in-Motion and Automatic Vehicle Identification technology with the Heavy Vehicle Electronic License Plate, or HELP, program from Lockheed Martin."This sole-source contract is a clear indication of the market acceptance of our Intelligent Transportation Systems solutions," said IRD President and CEO Terry Bergan. IRD anticipates the contract will be finished by autumn of next year. Canadian Corporate Newswire (12/01/99)
FRP Properties, Inc. Announces Operating Results for Fiscal Year 1999 and the Fourth Quarter
FRP Properties, which includes the subsidiaries Florida Rock & Tank Lines and SunBelt Transport in addition to real-estate operations, said it saw $82 million in FY99 revenue, up 10.9% from the previous year, with $20 million in gross profit, up 21.2%, and $6.2 million net income ($1.78 diluted EPS), up 37.4%.The transportation segment saw revenues up 4.7% due to higher mileage, while gross profit for the segment fell 3.6%. The company saw $22.1 million in consolidated revenues in the fourth quarter, up 13.6%, with $5.7 million in gross profit, up 28.9%, and $1.9 million net income (55 cents diluted EPS), up 60%.
The transportation segment saw fourth-quarter revenues up about 6%, while gross profit for the segment fell 10.9% due to rising diesel prices, trucker hiring and retention costs, and new-equipment depreciation. Business Wire (12/01/99)
Final Tally In Big-Rig Campaign Shows 505 Pulled Off Roadways
Houston and Texas state officers completed their four-week-long joint truck-inspection blitz with a total 505 out of 940 trucks, as well as 123 truckers, put out of service. There were also 1,642 tickets, in addition to 4,934 warnings.The state troopers continue their Level 1 inspection training to city police officers, who will carry on the inspections. The crackdown has also added information to a database in the state capital that will help the state Transportation Department figure out which carriers should be audited; this information was unavailable before because the state troopers could not operate within the borders of Houston. Houston Chronicle (12/01/99) P. 43A; Bardwell, S.K.
Computer Glitch Stalls Big Rigs at Otay Crossing
A malfunctioning Mexican customs computer system stretched truck processing time along the U.S. border Tuesday from the usual 45 seconds to between five and eight minutes, causing lengthy backups at commercial crossings. At the port of entry in Otay Mesa, Calif., some truckers were halted at the border as long as six hours.The system scans bar codes on trucks' paperwork and is hooked up to a main computer in Mexico City, where the problem occurred and slowed down the system. Although the computer system was running normally again around 4 p.m., Mexico kept operating the Otay Mesa crossing two hours longer than usual, shutting down close to 8 p.m., in order to handle the long queue of trucks. San Diego Union-Tribune (12/01/99) P. B-1; Zuniga, Janine
C.H. Robinson Worldwide Names New President
C.H. Robinson Worldwide has tapped Senior Vice President and Chief Financial Officer John P. Wiehoff to fill D.R. "Sid" Verdoorn's place as company president, with Chad M. Lindbloom taking over the CFO post and Thomas K. Mahlke named corporate controller. Verdoorn is to remain chairman and CEO. Business Wire (12/01/99)© copyright 1999 INFORMATION, INC. Terms of Service
Ìý