News Briefs - Jan. 16
- NHTSA Sets Recall of 14,000 International Trucks
- American Freightways Names New COO
- Kmart Considering Financial Options
- Va. Ports Plan Expansions, Renovations
- Southern Calif. Gasoline Price Jumps 2 Cents
- GM Earns 60 Cents Per Share in 4Q
- C.H. Robinson Acquires Smith Terminal
- Customs Seizes Cocaine on Truck
- Truck Driver to Run for Congress
- American Freightways Names New COO
NHTSA Sets Recall of 14,000 International Trucks
The National Highway Traffic Safety Administration has announced a recall of about 14,000 International medium-duty trucks for possible headlight problems.The agency said the 4300 and 4400 models made between October 2000 and September 2001 could experience a loss of either low beam headlights, or high beam headlights, or both.
Dealers will reprogram the electrical system controller, NHTSA said. Owners who do not receive the free remedy should contact International at 1-800-448-7825. Transport Topics
American Freightways Names New COO
Patrick L. Reed has been promoted from executive vice president of operations to chief operating officer at American Freightways Inc. it was announced Wednesday.
art of FedEx Corp., American Freightways, along with Viking Freight, makes up the Memphis, Tenn.-based company's freight unit - FedEx Freight.
Reed joined the company in 1996 and replaces outgoing COO Will Garrison, who retired in November.
AF, based in Harrison, Ark., employs 17,000 workers and operates in 40 states with direct, less-than-truckload hauling services. Transport Topics
( for the full press release.)
Kmart Considering Financial Options
The board of directors at Kmart Corp., a major user of truck service, met on Tuesday to discuss financial options, one of which includes bankruptcy, Reuters reported.Kmart's stock closed on Tuesday near a 34-year low and Wall Street is becoming increasing concerned that the discount retailer cannot compete with rival Wal-Mart Stores Inc.
Some analysts expect that Kmart will be forced to close a large number of its 2,100 stores in a bid to cut costs, Reuters said. If this happens, it will hurt the trucking companies that deliver merchandise to these stores. Transport Topics
Va. Ports Plan Expansions, Renovations
The Virginia Port Authority spokesmen Wednesday announced plans for some $334 million in improvements at its three cargo terminals.A study commissioned for VPA found that the terminals need expansions and renovations to ensure VPA can remain competitive with other ports along the East Coast.
The largest renovation would take place at the Norfolk International Terminal, with other work being done at the Newport News Marine Terminal and Portsmouth Marine Terminal, a release said.
It has been forecast that VPA terminals will be handling more than 16 million tons of cargo a year by 2010. Transport Topics
( for the full press release.)
Southern Calif. Gasoline Price Jumps 2 Cents
Gasoline prices ended a four-month decline and edged upward 2 cents a gallon during January, according to the monthly report of the Southern California Automobile Club.While the biggest over-the-road trucks use diesel fuel, gasoline-burning vehicles represent a significant segment of the commercial trucking industry.
The average price on Tuesday, based on a survey of 2,800 service stations in Southern California, was $1.19, compared with $1.17 on Dec. 11.
The lowest prices were found in Bakersfield, where regular, self-serve gasoline is selling for $1.05 a gallon.
The average price for the entire state is $1.22 a gallon, down 2 cents from mid-December. Transport Topics
(>Click here for the full press release.)
GM Earns 60 Cents Per Share in 4Q
General Motors Corp. said on Wednesday its fourth-quarter earnings declined 58% to $255 million or 60 cents per share, from $609 million or $1.15 a share prior to one-time charges last year, Reuters reported.Last week, the Detroit-based company raised its expectations to 60 cents from 50 cents for the quarter because of an increase in sales late in the year after offering 0% interest loans.
Wall Street estimates had ranged from 40 cents to 76 cents, with a consensus analyst forecast of 59 cents, Reuters said.
GM's earnings for the fourth quarter of 2000 included a charge related to the way the company accounts for its stake in its Hughes Electronics Corp. That caused it to post an overall net loss of $1.16 a share. It did not any one-time items in the fourth quarter this year. Transport Topics
C.H. Robinson Acquires Smith Terminal
C.H. Robinson Worldwide Inc. announced late Tuesday that it has acquired "substantially all" of the assets of Smith Terminal Transportation Services Inc. Terms of the acquisition were not disclosed.Smith, which operates as FTS, is, like Robinson, is a third-party logistics provider providing truckload, less-than-truckload consideration and intermodal transportation services across the United States
Based in Miami, FTS had gross revenues of $27 million in 2001.
FTS is a great fit for Robinson," said Greg Goven, senior vice president of the Minneapolis-based company. "They are a very strong player in the region, with multimodal capabilities that will allow them to quickly begin selling C.H. Robinson's network." Transport Topics
( for the full press release.)
Customs Seizes Cocaine on Truck
The U.S. Customs Service seized nearly a ton of cocaine valued at nearly $80 million in a tanker trailer crossing the Colombia-Solidarity Bridge near Laredo, Texas, the agency announced. Bundles of the drug were discovered in a hidden compartment of the trailer, which was returning empty after delivering a load of animal fat in Mexico.It marked the largest seizure in the Laredo area since customs inspectors found 4,358 pounds of cocaine in a cooking grease tanker in May 1998. The seizure occurred in November but was not made public until now so as not to jeopardize the ongoing investigation, Richard Pauza, a press officer at the Port of Laredo, said. No arrests have been made, he said.
Customs also announced it confiscated 1,347 pounds of marijuana worth approximately $1.3 million on Dec. 29 after an X-ray examination of a Peterbilt tractor hauling a shipment of carrots. Eric Kulisch
Truck Driver to Run for Congress
Tom E. Rubin, a 29-year-old truck driver from Addison, Ill., hopes to unseat long-time incumbent U.S. Rep. Henry Hyde in the 6th District by winning the Republican primary March 19.Rubin said he believes he has a chance even though Hyde has held the seat for about 27 years. He began driving big rigs in 1993 after two years of heavy equipment operation while in the U.S. Navy.
Currently a local tractor-trailer driver for the Atlanta-based United Parcel Service, Rubin would like to address the issues of "excessive taxing of the trucking industry" and fuel availability. Transport Topics
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