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The Latest Headlines:

• Dana Names Burns New CEO
• ISM Services Index Rises to Record High
• Pacer Reports Higher Profits
• Rep. Tauzin to Retire
• Postal Service's 1Q Net Income Shrinks
• Oklahoma Tax Agent Pleads Guilty
• C.H. Robinson's Net Income Rises on More Shipments

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Dana Names Burns New CEO

Automotive and commercial vehicle supplier Dana Corp. said General Motors executive Michael Burns would become its new chief executive officer and president on March 1.

Burns, who has been president of General Motors Europe since 1998, will succeed Joe Magliochetti, who died Sept. 22.

Dana said Glen Hiner, who has served as acting chairman since September 2003, would continue in that role.

Also, Bill Carroll, acting president and chief operating officer since September, will continue in these positions until March 1, at which time he will retire from the company, Dana said. Transport Topics

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ISM Services Index Rises to Record High

The Institute for Supply Management said Wednesday its non-manufacturing index rose to a record 65.7 in January from 58 in December.

Since April the gauge has exceeded 50, indicating more companies reported business growing than shrinking. The previous record was 65.1 in July.

The index measures the services sector, which is the largest segment of the economy and includes trucking. Economists had forecast the index to rise to 60, Bloomberg said.

Increased manufacturing activity in recent months may help lead to even greater demand for services from companies such as shippers and retailers, Bloomberg said. Transport Topics

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Pacer Reports Higher Profits

Transportation and logistics firm Pacer International Inc. said late Tuesday its net income for the fiscal fourth quarter ended Dec. 26 was $11.4 million or 30 cents per share, compared with $8 million or 22 cents a year earlier.

Revenues from its retail segment, which include intermodal marketing, trucking services and international freight forwarding, decreased 17.4% to $28.1 million.

The company said in a statement the decrease was due to business declines in the rail and truck brokerage units, caused by a one-time revenue surge experienced during the West Coast port closure in the fourth quarter of 2002.

Pacer is ranked No. 14 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics

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Rep. Tauzin to Retire

Rep. Billy Tauzin (R-La.) will not seek another term when his 12th term expires at the end of this year and will step down as chairman of the Energy and Commerce Committee on Feb. 16, news services reported.

Rep. Joe Barton (R-Tex.) is seen as likely to take over Tauzin's chairmanship, the Associated Press reported.

Tauzin is expected to accept a job as head of the Washington lobbying operation of the Pharmaceutical Research and Manufacturers of America, AP said. Transport Topics

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Postal Service's 1Q Net Income Shrinks

The U.S. Postal Service said Tuesday its net income for the fiscal first quarter ended Dec. 31 was $1.8 billion, down nearly $500 million from a year earlier.

The service said in a statement revenue was $18.2 billion, down $181 million, while expenses were $16.4 billion, an increase of $272 million over the same period last year.

Overall mail volumes dropped 0.3% to 54 billion, while deliveries rose 1.7 million to 141.8 million. Transport Topics

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Oklahoma Tax Agent Pleads Guilty

A trucking service agent in Oklahoma pleaded guilty Jan. 23 to conspiracy against the state, on a charge stemming from a multicounty investigation within the Oklahoma Tax Commission, the Associated Press reported.

Byron McFall Jr. received a 5-year deferred sentence and was ordered to pay a $10,000 fine after entering his plea in Oklahoma County District Court, AP said.

McFall was indicted January 2003, along with several others, following an investigation into allegations of kickbacks and bribery among Tax Commission employees and service agents involved in the collection of taxes on commercial trucking. Transport Topics

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C.H. Robinson's Net Income Rises on More Shipments

Logistics provider C.H. Robinson Worldwide Inc. said Tuesday its fourth-quarter net income was $29.4 million or 34 cents a share, compared with $24.3 million or 28 cents a year earlier.

Chief Executive Officer John Wiehoff said freight demand was up during the quarter, which caused its truckload capacity to tighten.

Gross profit from its transportation unit increased 11% to $120.4 million during the quarter, the company said in a release. Truck transportation gross profit rose 8.9% and was driven primarily by volume growth in both truckload and less-than-truckload transactions.

For the full year, net income increased to $114.1 million or $1.33 per share, compared with $96.3 million or $1.12 for 2002. Transport Topics

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