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TRUCKING INDUSTRY * USA - YRC Worldwide Stock Shoots Up 20 Percent
* Pennsylvania - Sudden increase in share value follows roll out of pension reform bill
Carlisle,PA,USA -The Journal of Commerce Online, by William B. Cassidy -Mar 25, 2010: -- The value of YRC Worldwide’s stock climbed nearly 20 percent yesterday, rising from 45.5 cents to 56 cents a share on the Nasdaq stock exchange... The price climbed on the back of a surge in trading and followed the unveiling of legislation that would help fix the company’s long-term pension problems... A bill that promises to resolve the issue of “orphaned” retirees of defunct companies in multi-employer pension plans was introduced by Sen. Bob Casey, D-Pa., Monday...* Wiscosin - Schneider National Outfits Tractor Fleet, With First-of-its-Kind Aerodynamic Wheel Covers
Green Bay,WIS,USA -Layover -23 March 2010: -- Schneider National, Inc., a premier provider of transportation, intermodal and logistics services, today revealed it is installing the Deflecktor Aero Wheel Cover on its entire tractor fleet. The innovative, aerodynamic wheel covers improve the mpg efficiency of the vehicle, with Schneider slated to realize an additional fuel savings of 1.8 million gallons annually as a result of implementing the Deflecktor on its fleet of over 12,000 tractors... (Photo from deflecktor: body home truck)
* Missouri - Prime Inc. Raises Min Pay Per Mile To 95 Cents
Springfield,MO,USA -Layover -23 March 2010: -- Prime Inc., which pays its contactor 72 percent of revenue+ has again raised its minimum guaranteed revenue for independent contractors in its refrigerated and flatbed divisions, ensuring no less than $95,000 for every 100,000 miles completed. Hancock notes at Prime independent contractors also get 100 percent of the fuel surcharge and this guaranteed minimum revenue also includes all authorized miles, loaded or empty... According to market insiders, a shift in supply and demand will soon drive load revenue higher. Due in part to carrier failures and fleet size reductions over the past few years, the supply of capable carriers and qualified drivers has shrunk while demand has steadily grown. Accordingly, pricing potential will increase as demand strengthens in spring/summer... (Photo from farm4.static.flickr)
* DC - Truck Tonnage Improves 2.6% from a Year Ago
Washington,DC,USA -Transport Topics -25 March 2010: -- Truck tonnage rose 2.6% in February from a year ago, the third consecutive year-over-year gain, American Trucking Associations, said Thursday... ATA’s seasonally adjusted for-hire truck tonnage index slipped 0.5% from January to February, following a revised 1.9% month-to-month figure for January that had originally been reported at 3.1%... For the first two months of this year, seasonally adjusted tonnage was up 3.5% over the same period last year, while for all of 2009 the index contracted 8.7%, marking the largest annual decrease since 1982... ATA Chief Economist, Bob Costello, told CNBC in an interview aired Thursday, "things are starting to pick up a little and we are cautiously optimistic” that will continue...* Oklahoma - Stiffed Arrow Trucking employees may recoup unpaid wages
Tulsa,OK,USA -Land Line Magazine, by Clarissa Kell-Holland -March 24, 2010: -- It’s been a long and painful process for the nearly 1,400 former truck drivers and employees of Tulsa-based Arrow Trucking, who found themselves without jobs and paychecks when the company abruptly collapsed a few days before Christmas in 2009... The lingering question they have now is whether they will ever recoup back wages and other money owed them by Arrow Trucking... Patrick J. Malloy III, bankruptcy trustee in the U.S. Bankruptcy Court for the Northern District of Oklahoma, is charged with uncovering Arrow Trucking’s assets and liabilities. He told Land Line Now on Tuesday, March 23, that he is hopeful there will be enough money left over to pay employees more than $700,000 in wage claims...
* New York - Trucking association spends $428K on 4Q lobbying
NY,USA -Business Week -24 March 2010: -- The American Trucking Associations, the trucking industry's main trade group, spent $428,070 lobbying the federal government in the fourth-quarter, according to a disclosure report... The group lobbied the U.S. House of Representatives, the Senate, the Department of Transportation, the Department of Homeland Security, the Environmental Protection Agency and the White House Office on issues including global warming, air quality, transportation security and hazardous materials transports.... The ATA also weighed in on a number of issues that affect its members, including fuel supply and cost, taxes, highway funding, diesel emission legislation, truck drivers shortage issues, pension reform and transportation budget appropriations. ATA members include FedEx, UPS, Werner Enterprises Inc. and YRC Worldwide Inc...Labels: trucking industry news USA
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