News Briefs - Nov. 5
The Latest Headlines:
- Cummins to Add 140 Jobs
- Bush Signs Bill to Create Ports-to-Plains Corridor
- International Truck Makes Several Leadership Changes
- Visteon Seeks to Reduce Force
- Crude Oil Price Hovers Near $27 a Barrel, NYMEX Reports
- Bush Signs Bill to Create Ports-to-Plains Corridor
Cummins to Add 140 Jobs
Engine maker Cummins Inc. said it was adding 140 jobs at its Columbus, Ind. plant, the Jackson County Tribune (Indiana) reported last week.The same plant shed 200 jobs in early October, but a company spokesman told the paper that the job situation at the plant is “fluid right now.”
The company is adding the jobs because of strong demand for its B series turbo diesel, the paper said.
Bush Signs Bill to Create Ports-to-Plains Corridor
Last week, President Bush signed into a law a bill designating the Ports-to-Plains commercial corridor as part of an effort to create a four-lane highway through Texas, New Mexico, Oklahoma and Colorado, the Associated Press reported.By designating the route, Bush cleared the way for states to get funding for the project, AP said. In 1998, when Congress first authorized the route, it was left up to the states to fund the project.
The route was conceived to handle increased commercial traffic after the passage of the North American Free Trade Agreement.
The bill designates two potential routes – one that goes from Texas to Colorado via New Mexico and one via Oklahoma - AP said. Transport Topics
International Truck Makes Several Leadership Changes
International Truck and Engine Corp. said Tuesday that it has made several cascading internal leadership changes.The company promoted Wayne Krzysiak to vice president of sales and distribution worldwide from his previous job as vice president and general manager of the parts operation.
Jack Allen was also given a boost to Krzysiak's old position as vice president and general manager of the parts operation from his position as vice president and general manager of Blue Diamond Truck Co. – International's joint venture with Ford Motor Co.
Mark Stasell will be taking over for Allen and leaving his position as vice president of product development.
Assuming Stasell's old job, Phil Christman will leave his current position as vice president of core engineering and product support.
President of International's truck unit, Steve Keate, said that the changes reinforce the Warrenville, Ill.-based company’s commitment to growth and to its top talent. Transport Topics
(Click here for the full press release.)
Visteon Seeks to Reduce Force
In the attempt to cut costs, Visteon Corp. said it will offer early retirement packages to 12% of its salaried workforce in the United States, the Detroit News reported Tuesday.Visteon, based in Dearborn, Mich., is the world’s third-largest auto parts supplier.
The offer, according to the paper, is being made to employees who will be at least 55 years old by the end of 2002 and have 10 years of experience or have completed 30 years of service with Visteon or its former parent company, Ford Motor Co.
Observers told the paper that Visteon is the most troubled of the major domestic auto part suppliers. Transport Topics
Crude Oil Price Hovers Near $27 a Barrel, NYMEX Reports
The price of crude oil for December delivery fell to $26.90 a barrel on the New York Mercantile Exchange Tuesday after France and Russia threatened to veto any resolution that would automatically authorize the use of force against Iraq if Baghdad blocks the return of weapons inspectors, Bloomberg said.Without a resolution, Iraq, which has been accused of supporting world terrorism and amassing weapons of mass destruction, faces the possibility of an attack by U.S. and other forces, Bloomberg said.
U. S. stocks of distillate, which include diesel fuel and heating oil, are currently 5.3% below the levels of a year ago and could fall by 1.1 million more barrels Bloomberg said, citing reports of overproduction by members of the Organization of Petroleum Exporting Countries. Transport Topics