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TRUCKING INDUSTRY NEWS * USA
* PROGNOSIS - Ahead of the Bell: Analyst cuts trucking estimates
New York,NY,USA -Associated Press/Forbes -14 Oct 2008: -- An analyst reduced earnings estimates for a slew of trucking companies Tuesday, suggesting that the credit crisis has "begun to wreak havoc in already sluggish freight markets"... Stifel Nicolaus analyst John G. Larkin urged investors to realize that tough times still lay ahead for the group, noting that capacity has not been scaled back fast enough to account for slumping demand. He cut fourth-quarter and full-year earnings estimates for truckers including Arkansas Best Corp., Knight Transportation Inc. and Werner Enterprises Inc. ... Larkin also noted that while the steep drop in oil prices will likely help truckers in the third quarter, freight demand should remain sluggish until at least the second quarter of next year, weighing down earnings... But by the middle of 2009, he predicts the benefit of capacity cuts and renewed fiscal policies should spur demand across the board...* J. B. Hunt Earnings Swell with Intermodal
Washington,DC,USA -Traffic World, by Thomas L. Gallagher -14 Oct 2008: -- J. B. Hunt Transport Services earned record net income in the third quarter, primarily due to its growing intermodal business... As J. B. Hunt transforms from a trucking company to a diversified transportation business, it is moving away from the typical business cycles and volatility other truckers are experiencing... Third quarter revenue jumped 12 percent to $996 million, compared with $892 million in third quarter 2007. Net earnings reached $60 million, up 18 percent compared with $51 million a year ago...
* C.R. England Gets Driver Alert
Washington,DC,USA -Traffic World, by Thomas L. Gallagher -14 Oct 2008: -- C.R. England will install a camera-based warning system on all 3500 of its trucks... The nation's largest refrigerated trucking company will deploy AWS-4000, a three-in-one system from Mobileye. The technology includes a lane departure warning system, a forward collision warning system, and a headway monitoring and warning system... Mobileye AWS includes a camera on the front windshield inside the vehicle. The device detects and measures the distance to vehicles and to lane markings, providing the driver with timely alerts... The forward collision warning alerts drivers to both moving and stationary vehicles, while filtering cars in adjacent lanes posing no threat. The lane departure function monitors the vehicle position in the lane and alerts the driver to departures from a lane without using the appropriate turn signal. The headway monitoring function calculates the distance from the vehicle ahead, providing the driver with both numerical and color headway data...
* ODOT partners with trucking industry on Operation Safe Driver - Truck drivers invited to open house at Jubitz Travel Center
Portland,,USA -Driving News ... -Oct 14th, 2008: -- On Oct. 21 and 22, truck drivers will have several more reasons to make a stop at Jubitz Travel Center in north Portland... The Oregon Department of Transportation will host an open house featuring a variety of interesting exhibits, presentations and events. Participating organizations include Oregon trucking associations, Oregon Health Sciences University, Clackamas County Motor Carrier Division, Oregon State Police and others... The open house helps kick off Operation Safe Driver – 2008 Driver Safety Awareness Week (Oct. 19-25, 2008). Operation Safe Driver is a nationwide campaign to improve commercial driver safety through effective education, awareness and enforcement... For more information, contact Sally Ridenour (503) 986-3359 or Rick Kauffman (503) 378-5916
* Gainey Corp. Files for Bankruptcy
Michigan,USA -Transport Topics -15 Oct 2008: -- Michigan-based trucking firm Gainey Corp. and five of its subsidiaries have filed for Chapter 11 bankruptcy protection, the Associated Press reported Wednesday... Owner Harvey Gainey pinned the move on the nation’s ongoing credit crisis, AP said... Gainey took the action Tuesday after Wachovia Corp. filed a lawsuit in September claiming that Gainey failed to repay more than $238 million of a $260 million loan taken two years ago, AP reported, citing the Grand Rapids (Mich.) Press...
Labels: trucking industry news USA
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