A.M. Executive Briefing - Nov. 21
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Snow Blankets Buffalo Area; Peace Bridge Reopened
Tractor trailers were littering access roads around the Peace Bridge because of the surprise Buffalo, N.Y.-area heavy snowstorm, but the bridge was in good shape due to its own clearing equipment, a spokesman told Transport Topics Tuesday morning.Chris Bonn said the bridge was closed for five or six hours on Monday, but was still "passable." Athough a driving ban is in effect in Buffalo - which is under two feet of snow - vehicles are being allowed over the bridge, he said.
Tractor trailers are stranded on access roads around the facility, he said, noting that 5,000 of them cross the bridge between Buffalo and Port Erie, Ontario, on a typical day.
Even more snow - six to 10 inches - is expected on top of the approximately 24 inches that fell yesterday, USAToday.com reported. Nancy Nickell, Transport Topics
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Delivery Service CD&L Ekes Out Mild 3Q Gain
CD&L Inc. - which offers customized, time-critical air and ground delivery services - said Monday it earned $116,000 or two cents per basic share in the third quarter.That is far below the gain of 12 cents per share in the year-ago quarter, but is up from a loss suffered in this year's first quarter.
The South Hackensack, N.J.-based company plans to continue improving its customized solutions and services to large national, regional and local clients and introduce improved information technology solutions, along with reducing costs and optimizing organizational structure. Transport Topics
NHSTA May Probe Goodyear Tires
The National Highway Traffic Safety Administration may announce a probe into Goodyear () tires for light trucks and vans as early as Tuesday, National Public Radio reported that morning.Dodge and Ford () trucks and vans have had the tires as original equipment, and about 27.5 million of the tires have been produced under various brand names, the Washington Post reported Tuesday.
The company modified the tire in the mid-1990s by adding a nylon overlay, but safety advocates claim the company remedied a defect without notifying NHSTA.
Goodyear's Load Range E tires are used on vehicles that are heavier than the Ford Explorers that experienced may of the Firestone tire failures, the Wall Street Journal noted. Transport Topics
Kenworth, Hino Rank High in Medium Truck Survey
Kenworth and Hino trucks were ranked highest in a J.D. Power and Associates medium-duty truck survey, the marketing company said.
Among truck maintainers who were surveyed, Kenworth conventional trucks had few repair problems, low operating costs and a high resale value, the survey said. Hino got high marks for engine and transmission performance in its cabover trucks.
Other high-ranking trucks include Chevrolet, Peterbilt, International and GMC trucks, according to the survey. Transport Topics
Ethics Rules for Federal Contractors on Horizon
Carriers that contract with the federal government may be facing final rules any day now that will focus on their ethics and integrity, the Washington Post reported Tuesday.It would mark the first time a contracting officer had to consider whether a bidder has complied with a range of federal labor, environmental, antitrust, employee, consumer protection and tax laws, the paper said.
Contracting officers will be asked to avoid focusing on a single violation, but to note a pattern, the Post said, noting that the rules will be issued under auspices of the Federal Acquisition Regulatory Council.
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Associates/Citicorp Merger Going Slowly
Associates First Capital Corp.'s () merger with Citigroup may be slowed because of regulatory concern over a Citigroup () consumer lending practice, the Wall Street Journal reported Tuesday.Associates is already under investigation by the Justice Department and the Federal Trade Commission, the paper said.
Also known as The Associates, the company is a significant player in the truck financing market. Transport Topics
Toyota May Buy Stake in DaimlerChrysler
Car and truck maker Toyota Motor Co. may buy the shares Deutsche Bank () owns in DaimlerChrysler (), Bloomberg reported.Deutsche Bank has a 12% stake in the German car and truck maker. However, the acquisition may not take place until 2002, when a new German tax law takes effect, the wire service said.
The new law would cut taxes on asset sales for German companies such as Deutsche Bank, Bloomberg said. Transport Topics
NEC, Toyota Combine Distribution
Three Toyota Motor distribution companies have planned to share trucks and delivery routes with Japanese PC manufacturer NEC Corp, Bloomberg reported.Under this plan, NEC will transport Toyota auto parts and NEC products together, while combining their routes in Japan, according to Bloomberg.
NEC and Toyota said the plan will cut costs, the wire service said. Transport Topics
Headlines From Yesterday's P.M. Briefing
- Gas Prices Drop, But Still Higher Than Nov. 1999
- Chrysler May Face Plant Shutdowns
- Tower Opens Denver Freight Forwarder Office
- Truck Crash Deaths Continue Downward Trend
- WestPoint Stevens Closing S.C. Terminal
- Con-Way Central Opens 54-Door Terminal
- Ryder, Toyota Tsusho Form Joint Venture
- EU Eyes Weekend Truck Ban, Driver Hours of Service
- Nationwide Diesel Prices Rise
- EU Antitrust Eye on Freight Forwarding
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