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TRUCKING INDUSTRY * USA - Truck fuel economy rule coming next week
Phoenix,AZ,USA -Transport Topics, by Sean McNally -18 Oct 2010: -- The economy and government regulations are the two most pressing issues facing the trucking industry, according to a survey of executives conducted by the American Transportation Research Institute... The top four issues were the sluggish economy, changes brought on by CSA 2010, other government regulations and the hours-of-service rule, according to ATRI’s annual list of critical issues facing the trucking industry released here Sunday at American Trucking Associations’ Management Conference and Exhibition... CSA 2010 appeared on the list for the first time ever 2010, with roughly 25% of respondents saying it was their top concern, “not only due to the expansive nature of FMCSA’s new regulatory framework, but also due to the uncertain impact CSA will have on carriers and drivers” ...
* Kansas - A vote against the concessions would lead to YRC’s lenders not extending a credit facility
Kansas City,KN,USA -The Kansas City Star, by RANDOLPH HEASTER -Oct. 18, 2010: -- For the third time in less than two years, YRC Worldwide Inc. drivers and dock workers are about to decide the fate of the long-troubled trucking company... Although workers have begrudgingly accepted cuts two previous times to keep YRC afloat, doubts linger about whether concessions will be accepted a third time, despite indications that they’re needed for YRC to survive... Officials of Teamsters locals around the country have met with rank-and-file YRC workers to discuss the latest proposal, which calls for continued wage cuts and continued suspension of company payments into union pension plans... Some other trucking companies have reported a slight rebound from the troubles of 2009, but YRC has continued to struggle. The company remains saddled with heavy debt from two big acquisitions of rivals in the middle of the last decade. In addition, YRC has constantly tried to assure customers that it will continue to operate for the long term despite rumors of an imminent demise and competitors’ efforts to undercut YRC on price... As the company tries to stop the bleeding and return to profitability, it thinks its hourly workers must accept another round of concessions. Some terms of the agreement:
• Continued reduced wages. YRC union workers took wage cuts of 15 percent last year, and that would continue through the life of the agreement, which ends March 31, 2015. Hourly wages would be raised by 40 cents in April, although the increase drops after the 15 percent cut. Annual hourly wage increases of 40 or 45 cents, less the 15 percent reduction, would continue each April through 2014.
• Continued suspension of pension contributions. Union members agreed to allow YRC to suspend monthly payments into their pension plans since July 2009. Although that was set to expire in January, the new pact calls for the suspension to be extended to next June, which would allow YRC to save about $25 million monthly. When YRC resumes those pension payments, it will be at one-fourth of past levels.
• Creation of a job classification guaranteeing at least four hours of work a day at local terminals, which the union hopes will provide work for laid-off employees.
• Road drivers would be responsible for dropping and hooking trailers at certain terminals.
• Employees with four or five weeks of accrued vacation would drop one week beginning in 2011.
Other work rule changes also are being sought, including the use of temporary or casual drivers and shorter breaks...
* Kansas - YRC Says Higher Volume, Revenue is Cutting Losses
Overland Park,KN,USA -The Journal of Commerce Online, by William B. Cassidy -Oct 18, 2010: -- Trucker expects third-quarter results to show improved EBITDA, operating loss... YRC Worldwide expects to narrow its losses in the third quarter on the back of higher tonnages and revenue per load, the nation's largest trucker said Monday... Tonnage per day was up 1.2 percent in the third quarter from the second quarter at its nationwide less-than-truckload carrier YRC and 2.1 percent at its regional group... Revenue per shipment during the third quarter was up 1.9 percent at YRC and 3.7 percent at the company's regional carriers from the previous quarter... YRC Worldwide expects positive adjusted earnings before interest, taxation, depreciation and amortization within a range of $42 million to $46 million... The company had an adjusted EBITDA of $39.9 million in the last quarter...
* Ohio - Survey Finds Driver Files Incomplete. Required documentation lacking for half of motor carriers
Dayton,OH.USA -The Journal of Commerce Online, by William B. Cassidy -Oct 19, 2010: -- As many as half of the driver qualification files motor carriers keep are incomplete or inaccurate, according to a survey of trucking customers by LexisNexis... Those driver files, required by the Department of Transportation, either lack necessary documents or have records that were completed incorrectly, the company said in its first annual Commercial Driver Safety Report, released Monday... Driver qualification files will become even more important to carriers under the DOT's Comprehensive Safety Analysis 2010 initiative, said Hayley Hitchcock, associate vice president of product development and director of vertical strategy.... The driver safety report also noted a marked increase in the use of phencyclidine or PCP among those truck drivers who test positive for illegal drug use... Marijuana remained the most common drug, said Hitchcock, accounting for 66.6 percent of all positive tests conducted by LexisNexis Screening Solutions... LexisNexis does business with thousands of trucking companies and completes more than 3 million drug screening tests a year... The good news -- cocaine use declined among drivers who test positive for drugs, dropping nearly 41 percent since 2008 to 16.5 percent of all positives... Fewer than 2 percent of all LexisNexis drug tests prove positive...
Dayton,OH.USA -The Journal of Commerce Online, by William B. Cassidy -Oct 19, 2010: -- As many as half of the driver qualification files motor carriers keep are incomplete or inaccurate, according to a survey of trucking customers by LexisNexis... Those driver files, required by the Department of Transportation, either lack necessary documents or have records that were completed incorrectly, the company said in its first annual Commercial Driver Safety Report, released Monday... Driver qualification files will become even more important to carriers under the DOT's Comprehensive Safety Analysis 2010 initiative, said Hayley Hitchcock, associate vice president of product development and director of vertical strategy.... The driver safety report also noted a marked increase in the use of phencyclidine or PCP among those truck drivers who test positive for illegal drug use... Marijuana remained the most common drug, said Hitchcock, accounting for 66.6 percent of all positive tests conducted by LexisNexis Screening Solutions... LexisNexis does business with thousands of trucking companies and completes more than 3 million drug screening tests a year... The good news -- cocaine use declined among drivers who test positive for drugs, dropping nearly 41 percent since 2008 to 16.5 percent of all positives... Fewer than 2 percent of all LexisNexis drug tests prove positive...
Labels: trucking industry news USA
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