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TRUCKING INDUSTRY NEWS * USA & Canada
* USA - Werner’s 4Q Profit Improves
USA -Transport Topics -23 Jan 2009: -- Truckload carrier Werner Enterprises said its fourth-quarter profit rose 20% as it trimmed the size of its fleet to save money... Fourth-quarter net income was $18.6 million, or 26 cents per share, up from $15.6 million, or 22, a year ago... Revenue fell 7% to $490.6 million, Werner said late Thursday... (Photo by Tom Biery/Trans Pixs)* Glenncoe Transport to close up shop
Kelowna,B.C.,CAN -Today's Trucking -23 Jan 2009: -- The loss of its largest customer has forced regional hauler Glenncoe Transport out of business... Speaking to local media in Kelowna, B.C., President Don Coe said a major customer, making up 70 percent of his business, recently went under. A handful of other top ten accounts also ceased operations, and the carrier couldn't find enough new freight quick enough to stay afloat... After nearly four decades in business, Glenncoe (which was acquired by Bison Transport a little over a year ago) will continue in full operation until its doors are closed on May 31, 2009... (Photo: Business in the Pacific market Glenncoe concentrated on is drying up, fleet owner say) * Heartland Express Prepares to Downsize
North Liberty, IO,USA -Traffic World, by John Gallagher -23 Jan 2009: -- Truckload carrier Heartland Express, in the midst of a tractor and trailer upgrade that began in the third quarter last year, said it's prepared to downsize its fleet through attrition if freight demand gets worse... Low demand was responsible for an 8.1 percent decline in profits for the year. The North Liberty, Iowa-based company, generated $70 million in net income on revenue of $626 million, which was up 5.7 percent. In the fourth quarter, a $6.1 million gain on disposal of equipment boosted net income 16.4 percent to $19.4 million on revenue that fell 7 percent to $142 million... * USA - Changing Truck Terms
Green Hills, PA,USA - Traffic World, by John Gallagher -26 Jan 2009: -- The overcapacity that grips the trucking industry is hitting the $25 billion truck leasing market, and leasing companies are adjusting their strategies to deal with plunging demand... Penske Truck Leasing was forced to cut 50 positions at its Green Hills, Pa., headquarters earlier this month as a result of weakening demand for commercial truck rentals. It was the first time in the $4 billion company's 40-year history it had to resort to laying off employees at headquarters...
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