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TRUCKING INDUSTRY NEWS * USA & Canada
* YRC Worldwide to cut 6 percent of work force, or 3,750 employees, in integration measure
New York,NY,USA -Associated Press/CNN Money -October 29, 2008: -- YRC Worldwide says it will cut 6 percent of its work force in a cost-reduction move... A spokeswoman says the nation's largest trucking company will lay off about 3,750 drivers and dockworkers as it blends the units. Job cuts were widely expected after the company sped up the integration last month... The Overland Park, Kan-based company has about 58,000 employees. It said last week its third-quarter earnings fell 10 percent from a year earlier. But excluding some one-time items, YRC Worldwide Inc. reported a much wider loss than Wall Street expected...
* P.A.M Trucking Reports Losses
Tontitown,Springdale,AR,USA -The Morning News -October 28, 2008: -- P.A.M. Transport reported a net loss of $3.18 million in the quarter ending Sept. 30, compared with a net income of $36,178 a year ago... The trucking company reduced its fleet size by 6 percent from a year ago and slowed driving speed to help bring expenses in line with revenue... The company continues its efforts to divest itself from the automotive industry. In the recent quarter 37.3 percent of the company's revenue related to the auto sector, this compared to 48.5 percent a year earlier. The company said it will continue its marketing campaign in hopes of securing a more diversified customer base... Goldman Sachs trucking analysts expect tonnage to decline 3 percent next year. They said while lower fuel prices have helped trucking companies, recession will no doubt weaken freight demand and prolong the recovery for many trucking companies...
* Canada - Tough economy hurts Transforce trucking
Montreal,QBQ,CAN -The Montreal Gazette -October 30, 2008: -- Transforce Inc. reported seven per cent lower profits during the third quarter of 2008, but grew revenues 23 per cent largely through acquisitions, during tough times for the transportation industry... Transforce reported profits of $26.5 million or 31 cents a share, down from $28.5 million, or 33 cents a share, because of changes to income tax expense during the trucking company's conversion from an income trust to a corporation during the second quarter... Transforce CEO Alain Bédard said the trucking industry has suffered because of the credit crisis and the weak economic climate. The Quebec and Ontario market has been hit by current struggles in the manufacturing sector...
* Canada - TransForce shuts down specialized unit
Montreal,QBQ,CAN -Today's Trucking -31 Oct 2008: -- TransForce has decided to close Transpel, one of the specialized truckload carriers under its corporate umbrella... Transpel, which was acquired by the Quebec-based trucking giant four years ago, was mainly a container hauling and flat deck carrier. At the time of the purchase, Transpel (which also operated under the name Transport N.J.N.) was the sixth largest fleet in Quebec, with 250 tractors and 800 trailers and container chassis. It has since dwindled to about 40 drivers...
* Canada - Taking trucking to the web
Somba K'E,Yellowknife,NT,Canadá -The Northern News Services, by Herb Mathisen -October 31, 2008: -- Truckers in the territory will soon be able to apply for permits online, once the GNWT establishes a new permitting website... Truckers would be issued a permit number and if stopped on highways, officers could check that number to ensure all requirements were met... The centre will free up highway officers for their other duties, said Beaulieu... Four different types of permits will be available on the site: registration, overweight, over-dimensional and fuel tax permits...
Labels: trucking industry news USA
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