P.M. Executive Briefing - Aug. 21
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Trade-In Value Plummets Amid Oversaturated Used-Truck Market
Declining trade-in value for used commercial trucks keeps owners from buying new models and is a factor in the sluggish North American new truck-sales market, the Associated Press reports.Record production and sales in recent years have saturated the market, and trade-in values have recently plummeted as much as 50% in response, the article said.
Representatives from PACCAR and Freightliner, two major truck makers, said in the article that they expect new truck sales to drop anywhere from 25% to 40% for the year. Transport Topics
Fire At Central Transport Terminal In Michigan Destroys 60 Trailers
A Sunday morning fire at Central Transport's Romulus, Mich., facility destroyed several trucks and the cargo they were carrying, the Detroit Free Press reported.A company statement issued Monday said about 60 trailers were destroyed by the fire, and that the shippers of the freight in those trucks had been notified of the incident.
The fire was discovered by a maintenance worker around 10 a.m. Sunday when he noticed smoke coming from a computer control panel, the newspaper said. No dollar figure was given for the damage total, but it was estimated to be in the millions. A local arson task force is investigating the fire, but police told the newspaper the fire did not appear suspicious. There were no injuries reported.
Central Transport also said in its statement that operations from the damaged facility had been transferred to adjoining docks not damaged by the fire. "Today it is business as usual throughout our system," said Jim Rafferty, vice president of sales. Transport Topics
TradeOut, Penske Team Up For On-line Truck Auction
Off-lease asset and business surplus e-marketplace TradeOut announced Monday it will team up with Penske Truck Leasing for a nine-day truck auction that will offer more than 2,500 vehicles.The auction will run from Aug. 23-28 on TradeOut's website (www.tradeout.com) and will be open to both wholesalers and retailers. A variety of off-lease trucks from Penske's Consumer Rental Division, pre-inspected and maintained by the company, will be offered in the auction. Transport Topics
Gabriel Named Newgistics President and CEO
E-commerce logistics provider Newgistics Inc. announced Monday the naming of Clarence J. Gabriel as company president and chief executive officer.Gabriel has 22 years of experience in logistics and related fields, having most recently served as division president and CEO of Corporate Express Delivery Systems, a distribution, logistics and supply chain management company. He has also worked for Pepsi-Cola Corp. and American Hospital Supply Corp. Transport Topics
Lao-Hmong Security Agency Turns Former Trained Killers Into Truck Protectors
Once trained for combat, former Southeast Asian tribesman make their living in a new land trained to protect others – including truckers and their cargo.Thousands of Hmong refugees from the Southeast Asian nation of Laos were trained by the U.S. Central Intelligence Agency a quarter-century ago to fight communist forces in their homeland, the Orange County (Calif.) Register reports. When they lost that battle, many came to the United States and tried to adapt to a new culture.
What can they do in this country? In the eyes of Mouasu Bliaya, president of the Lao-Hmong Security Agency, whose clients include Viking Freight and Consolidated Freightways, they can protect truck drivers and their loads as they enter and exit truck yards.
Viking Freight first hired guards from the Lao-Hmong Security Agency in 1985 and now uses them at seven area facilities, the article said. Transport Topics