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TRUCKING INDUSTRY * USA & Canada - The Upside Of Trucking
* USA - Con-way Truck Equipped With New Safety Technology Could be the Truck of the Future
Ann Arbor,MI,USA -Commercial Truck Trader -13 Aug 2010: -- CNN Money features video of a new truck for Con-way equipped with state of the art safety technology... According to the video, the new technology ranges from a camera that scans the road to make sure the truck is staying in its lane, to a computer system that helps drivers keep the truck stable to avoid accidents... The story reports that Con-way's investment in new truck safety technology is aimed at saving lives and money through preventing accidents...
* USA - Con-way Freight unveils tech tools for mobile devices
Ann Arbor,MI,USA -Fleet Owner -Aug 17, 2010: -- Con-way Freight has released a free smart phone application and dedicated website designed for mobile devices... The Con-way Freight Tools application allows customers to access online shipping services including shipment tracking, rate quotes, document viewing, and locating a service center, all through the new website. The application is available for iPhone and Android phones with Blackberry compatibility coming soon... The mobile website is a simplified version of Con-way Freight’s commercial website, with the mobile version optimized for quick uploading and seamless, responsive functionality on a smart phone. Simplified features on the mobile site allow customers to register as web users, sign up for proactive alerts and other information, and to get news updates...
* USA - Texas - YRC Logistics Rebranded as MIQ - Austin Ventures completes acquisition of LTL trucker’s logistics subsidiary
Austin,TX,USA -The Journal of Commerce Online, by William B. Cassidy -Aug 17, 2010: -- YRC Worldwide completed the $38.7 million sale of most of YRC Logistics to private equity firm Austin Ventures, which rebranded the unit as MIQ Logistics... Sealing the deal delivered $33.6 million to YRC Worldwide Aug. 16, with the remaining $5.1 million placed in escrow, the company said... YRC Worldwide reported one-time shutdown and termination costs of $9 million to $11 million associated with the sale, which did not include its China joint ventures... Austin Ventures, which has more than $3.9 billion under management in 10 investment funds, will use its capital to bolster its new subsidiary... (Photo from blog.fleetowner: YRC truck)
* USA - Trucking Opportunity
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New York,NY,USA -Investopedia, by Arthur Pinkasovitch -Aug 11, 2010: -- The trucking industry has been facing a recession for nearly four years, as freight volumes began to decrease in 2006 and persisted through the downturn of the overall market. As gas prices escalated when oil was trading at $140/barrel and transportation demand pulled back, many trucking companies were forced into bankruptcy. Even, YRC Worldwide was on the verge of collapse in 2009... Andy Ahern, of Ahern and Associates stated that he would be surprised if at least 2,500 trucking companies did not go bankrupt in 2010. In 2008 and 2009 5,500 and 2,200 truckers went bankrupt respectively... Despite this disappointing trend, an optimal opportunity may exist to invest in the trucking industry. Firstly, those remarks about bankruptcies were made in February when the economic outlook remained gloomy and volumes had not experienced a full rebound. the situation is slowly being reversed. In its latest quarterly report, Vitran Corporation experienced a 293% increase in net income due to an increased number of shipments and total shipment weight... (Photo from intheiropinion -March 17, 2009- CRACCO v. VITRAN EXPRESS, INC)
* USA - Vitran has the Highest Gross Margin in the Trucking Industry
New York,NY,USA -Investor Business Daily, by Chip Brian -Aug 11, 2010: -- Below are the top five companies in the Trucking industry as ranked by gross margin. Gross Margin tells you how many of your sales dollars are profit. If efficiency is improved, more profits will result.
- Vitran (VTNC) has gross margin of 97.3%, a sales growth of 12.8%, and trailing 12 months sales of $675.9 million.
- Con-way (CNW) has gross margin of 97.3%, a sales growth of 23.7%, and trailing 12 months sales of $4.7 billion.
- Hertz Global (HTZ) has gross margin of 42.8%, a sales growth of 7.1%, and trailing 12 months sales of $7.3 billion.
- Saia (SAIA) has gross margin of 34%, a sales growth of 5.9%, and trailing 12 months sales of $868.2 million.
- Amerco (UHAL) has gross margin of 31.1%, a sales growth of 12.5%, and trailing 12 months sales of $2.1 billion...
* Canada - New driver group formed as wait times escalate at CN intermodal terminal
Brampton,ONT,CAN -Truck News, by James Menzies -10 Aug 2010: -- Drivers serving the CN Rail Brampton Intermodal Terminal are once again complaining of excessive wait times at the facility, and a new drivers' organization has formed with the intent of taking CN to task... Company drivers, owner/operators and trucking companies serving the intermodal yard have been reporting increased waiting time for loading and unloading. Wayne Horan, an owner/operator who has been hauling cans on and off for about 20 years, says that wait time has become a major issue over the last six to eight weeks... (Picture: Truckers say wait times have climbed to up five to six hours on some days)* Virginia,USA - Ending a 30-year run, dry van, refrigerated carrier employed 75, had 60 tractors
Lynchburg,VA,USA -The Journal of Commerce, by William B. Cassidy -Aug 13, 2010: -- A motor carrier in Southern Virginia, FWC, shut down this week, ending a 30-year run as it struggled to rebuild business in the economic recovery... The company had 75 employees... Wayne Casalenuovo founded the company in 1980, just as federal trucking deregulation created opportunities for a nascent truckload industry... The company had a fleet of 60 tractors and 210 trailers delivering dry and refrigerated goods throughout the U.S., its Web site said... * Pennsylvania, USA - L&H Trucking Company Files for Chapter 11 Bankruptcy Protection
Hanover, Pennsylvania,USA -Bloomberg -18 Aug 2010: -- L&H Trucking Company Inc., a Central Pennsylvania trucking company, sought bankruptcy protection from creditors without giving a reason... The company, listed debt from $10 million to $50 million and assets from $1 million to $10 million in Chapter 11 documents filed Aug. 16 in U.S. Bankruptcy Court in Harrisburg... L&H Trucking, founded in 1960 by Larry and Helen Longstreth, grew from a contract carrier service with just a few drivers to a transportation company with more than 165 tractors and 700 trailers, according to its Web site...
* USA - Research Initiative Points to Benefits of Wireless Roadside Inspections
Knoxville,TENN,USA -Truckinginfo -17 Aug 2010: -- The National Transportation Research Center concluded its Trusted Truck initiative last week with a demonstration in Knoxville, Tenn... The initiative, a multi-year research partnership sponsored by the National Transportation Research Center, with Volvo Trucks North America, Volvo Technology North America and the University of Tennessee as partners, revealed an effective model for implementing wireless roadside inspections... The Trusted Truck initiative began in 2004, evaluating technology and processes to allow trucks deemed safe and "trusted" to bypass inspection stations, freeing inspectors to focus on trucks whose condition has not been validated... (Photo: Congressman James Oberstar of Minnesota (bottom center) was among the participants in a recent demonstration of Trusted Truck technology developed under a partnership)* USA - An eBay for the Freight Industry with Vozeeme
CAL,USA -Tech Cocktail, by Frank Gruber -August 11, 2010: -- Vozeeme is an online marketplace focusing on the $100 billion US freight market. They are aimed at creating “eBay for the freight industry.” Through Vozeeme, shippers will get the best rate for their shipping needs while carriers will provide their services for a competitive rate obtained through a transparent and efficient bidding environment... The trucking industry loses roughly $5 billion a year by having empty trucks on the roads. And existing brokers can make up to 15-30%, making this industry ripe for technology innovation. By leveraging this excess capacity and creating a transparent interface and marketplace around it, Vozeeme has the potential to transform the way shippers operate and provide a real cost savings for shippers and small-medium manufacturing companies that need their services. Vozeeme plans to ensure reliability by pre-screening trucking companies, tracking shipments from pick-up to delivery and implementing a reputation score for truckers... (Photo from gardenscapetransport: truck fleet)
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