P.M. Executive Briefing - Oct. 30
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Development Costs Blamed for 28% Drop in Scania 3Q Profits
Swedish truck maker Scania blamed product development costs and a falloff in Western European orders for a 28% drop in third-quarter profits, Bloomberg reported Monday.However, the company is aiming to maintain a full-year operating margin of more than 10%. Scania sells 53% of its trucks, buses and industrial and marine engines in continental Europe.
It said its operating profit as a proportion of sales fell to 7.6% from 9.3% in the second quarter and from 10.7% in the year-earlier period.
Ryder Signs Logistics Deal With Wendy's
Ryder System Inc. () will provide logistics for Wendy's International (), the restaurant chain, the companies announced Monday.Ryder looks forward to the challenge of analyzing Wendy's current distribution process, which involves more than 100 suppliers and 5,200 restaurants, said Tony McGee, manager of business development for Ryder's Transportation Management Group.
Ryder will strive to improve the overall efficiency of Wendy's carrier network. Ryder plans particular focus on Wendy's delivered freight pricing on food and packaging items. Transport Topics
Crude Prices Rise Slightly as OPEC Boosts Output
December crude added 39 cents to $33.13 a barrel On Monday on the New York Mercantile Exchange, according to CBS Marketwatch.com., even as the Organization of Petroleum Exporting Countries automatically increased production. Under an agreement adopted in March, OPEC agreed to a daily production boost of a half-million barrels if prices in the cartel's crude basket remained above $28 a barrel for 20 consecutive days.Despite the rise in crude, November heating oil futures were down slightly - off a fraction of a cent to 96.60 cents a gallon. Heating oil and diesel fuel are similar distillates of crude. Price fluctuations in the heating oil market typically have an impact on diesel, and vice versa. Transport Topics
Comdata's GoComcheck.com Announces 'Comprehensive' Fuel Info
Comdata Corp. Monday announced the official launch of , calling it the largest and most comprehensive real-time fuel price, routing and highway amenities resource ever made available on the Internet.Comdata officials said the site, scheduled for online debut January 2001, will be offered free "indefinitely" to all segments of the trucking industry.
GoComchek.com will be linked in real-time to the company's network of over 8,000 truck stops and service centers, allowing users to access the last transacted Comchek fuel purchase price at each location.
The site will also calculate and display net-state fuel tax prices per gallon for each stop, a fuel management feature not previously available free of charge from any other transportation services supplier.
Comdata unveiled the new offering at the 2000 American Trucking Associations Management Conference and Exhibition. Transport Topics
Headlines From Today's A.M. Briefing
- Supreme Industries' 3Q Earnings, Revenues Slide
- P.A.M. Transportation Services Reports Lower 3Q Earnings, Income
- U.S. Container Maker Greif Buying Netherlands-based Royal Packaging
- Cummins Unveils Electronic Diesel for Walk-In Vans
- Slater Announces Highway Safety, Discretionary Grants
- Britain May Offer Truckers Fuel Relief
- DaimlerChrysler To Idle Seven Plants
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