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TRUCKING INDUSTRY * USA - FedEx’s 2Q Earning Drop 30%
Memphis,TENN,USA -Transport Topics -17 Dec 2009: -- FedEx Corp. said Thursday its second-quarter profit fell 30% to $345 million, or $1.10 per share, from $493 million, or $1.58, a year ago... The earnings were in line with a recent company projection. Revenue for the fiscal quarter ended Nov. 30 fell 10% to $8.6 billion... Less-than-truckload unit FedEx Freight posted an operating loss of $12 million, compared with operating income of $32 million a year ago, while revenue fell 11% to $1.07 billion... Its FedEx Ground unit’s operating income rose 12% to $238 million, while revenue rose 3% to $1.84 billion... The FedEx Express segment’s operating income fell 36% to $345 million, while revenue fell 13% to $5.3 billion... (Photo from JOC: Fedex-airplane MD 11 in Hong Kong)
* DC - Lawmaker Wants USPS to Go Electric
Washington,DC,USA -Transport Topics -17 Dec 2009: --Rep. Jose E. Serrano (D-N.Y.) introduced a bill Wednesday intended to get the United States Postal Service to switch its huge fleet of light vehicles to electric, partly to help clean up the air and also to help recharge the nation’s electric grid, the Washington Post reported... Serrano’s bill would eventually give $2 billion to the Energy Department and Postal Service to convert current mail trucks or manufacture new ones that use vehicle-to-grid technology or V2G, as it's known... The Postal Service runs about 220,000 vehicles. The fleet travels more than 1.2 billion miles each year and used 121 million gallons of fuel in 2008... The Postal Service already is testing several alternative-fuel vehicles, Sue Brennan, spokeswoman, said, according to the Post... (Photo from goodcleantech: USPS Alt Fuel)
* Tennessee - PROGNOSIS: Trucking industry still struggling
Nashville,TN,USA -The Press Enterprises, by Jack Katzanek -December 8, 2009: -- The trucking industry is still struggling, and a quarterly report indicates it has gotten worse as 2009 went on... Avondale Partners LLC estimated that in the third quarter, about 0.7 percent of the nation's trucking capacity was pulled from the road. That is up from 0.4 percent in the third quarter. The number of companies that pulled at least some big rigs off the road increased from 370 to 405 in from the second quarter to the third... Trucking companies have been hit hard by the recession, from small one- or two-rig operations to large national operations. It doesn't look like it's getting better quickly... Avondale Partners is predicting the first part of 2010 could be the time of reckoning for some of them. That is when a lot of cash payments will come due, for items that run from registration and insurance to the cost of deferred repairs. Those might be the bills that push some of these companies into insolvency...
* Montana - Smurfit-Stone Closure Felt Across
Missoula,Montana,USA -KECI TV, by Maritsa Georgiou -18 December 2009: -- It's been just days since Smurfit-Stone announced it's closing down the Missoula mill, but the ripple effects are being felt far and wide... For one Kalispell trucking business, it means the end of a fifty year run, and no more work for its twenty employees. The company's owner says the domino effect doesn't stop with them... John Jump Truckins is in the wood products business. They pick up wood remnants left behind by loggers. Then, they make wood chips out of it and sell them to companies like Smurfit-Stone. The problem? Smurfit bought 90% of Jump's product... But, the writing was on the wall. Smurfit went into bankruptcy more than a year ago. It cut Jump Trucking's rates and even cut back purchases. The Jumps knew it wasn't looking good... But, then, a week before the closure announcement, Smurfit told Jump Trucking they were coming out of bankruptcy... (Photo from john jump trucking)Labels: trucking industry news USA
posted by Unknown @ 10:46 AM
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