News Briefs - Sept. 3
- Announced Job Cuts in August Rose 46%
- West Coast Port Talks Break Down
- Russia Expected to Ratify Kyoto Treaty
- I-85 Rest Areas to Close for Renovation
- Crude Oil Prices Fall as Iraq Warms to Inspectors
- Volvo Wants to Sell More Trucks From Other Countries
- West Coast Port Talks Break Down
Announced Job Cuts in August Rose 46%
The number of job-cut announcements made by U.S. companies during August rose 46% from the previous month, a private survey said Tuesday.Poor employment news like more announced job cuts can shake consumers’ confidence and reduce their spending – hurting the trucking industry.
The report by Challenger, Gray & Christmas Inc. said that companies announced plans to terminate 118,067 positions last month – higher than the 80,966 announced in July, but far lower than the 140,019 planned cuts announced in the same month last year.
Announced cuts are not the same as layoffs or firings, because some employees are reassigned, other cuts never actually take place and some are done through early retirement and other means.
West Coast Port Talks Break Down
A day after talks between the International Longshore and Warehouse Union and West Coast port operators represented by the Pacific Maritime Association broke down, Los Angeles Mayor James Hahn said Monday President Bush should not intervene, the Los Angeles Times reported.Union negotiators were scheduled to meet Tuesday to decide their next move, which could include a work slowdown at 29 ports in California, Washington and Oregon. A labor stoppage could hurt truckers that haul goods to and from the ports.
The contract between the sides expired July 1, but the union has continued working and talking with the shippers through the summer. The White House has said it would step in if there are slowdowns or strikes at the ports, Bloomberg reported.
The main sticking points are who pays workers' health care costs and how to preserve union jobs as shipping lines introduce new technology, the Washington Post reported.
( for a press release from the ILWU.)
Russia Expected to Ratify Kyoto Treaty
Russia said Tuesday it plans to ratify the Kyoto Treaty on global warming in the near future, a move that would bring the global agreement into effect, the Associated Press reported.The United States has maintains its opposition to the treaty, which sets mandatory targets in cutting greenhouse gas emissions, because it would damage U.S. economic interests. It is possible the agreement would require further restrictions on truck emissions.
AP also reported Canadian Prime Minister Jean Chretien would submit the protocol to his Parliament and China said it had already ratified it.
Once the accord is in effect, the nations that have signed on — more than 70 so far — will be obliged to implement the emissions cuts it sets. The United States would not be required to do so, AP said, but it plans to take other action to limit climate change. Transport Topics
I-85 Rest Areas to Close for Renovation
Rest areas along Interstate 85 in Gwinnett County, Ga., will be closed for 30 days starting Thursday as the state’s Department of Transportation starts renovation work.I-85 is a major truck route that runs from Virginia to the Gulf Coast of Alabama. The highway travels through the county on its way into Atlanta from the East.
Georgia DOT District Engineer Larry Dent said in a release the stops are expected to remain closed until Oct. 5.
"The rest areas need to be upgraded and the fastest way to do it is to close them and get the work done without people using the facilities," Dent said. Transport Topics
Crude Oil Prices Fall as Iraq Warms to Inspectors
Crude oil prices fell Tuesday after Iraq said it will allow weapons inspections by the United Nations to resume if some sanctions are dropped, reducing the threat of a U.S. attack, Bloomberg reported.Oil is refined into fuels used by the trucking industry, making its price very important.
Brent crude oil for October settlement fell as much as 47 cents to $27.07 a barrel in London, while crude oil for October delivery slid as much as 48 cents to $28.50 on the New York Mercantile Exchange.
An analyst told Bloomberg if weapons inspectors do return to Iraq, oil prices could fall as much as $3 a barrel. Transport Topics
Volvo Wants to Sell More Trucks From Other Countries
Volvo AB plans to sell more trucks made by units in countries with lower manufacturing costs, the Business Standard reported Tuesday.The company, which is the second-largest maker of heavy trucks behind DaimlerChrysler AG, believes these cheaper trucks could help it boost sales in the United States and Europe, the story said.
China, Mexico and India are examples of countries that could help Volvo cut manufacturing costs. Transport Topics
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