Regional trucker may "merge" with YRC if its employees reject concessions
Overland Park,KN,USA -The Journal of Commerce Online, by William B. Cassidy -Oct 21, 2010: -- YRC Worldwide is reportedly prepared to shut down subsidiary New Penn if Teamsters at the regional carrier reject proposed wage and pension concessions... New Penn would be merged into YRC, the national less-than-truckload unit of YRC Worldwide, according to a change of operations proposed by the company... If Teamsters at New Penn reject the concessions, however, their company would have "a significantly higher cost structure" than other YRC subsidiaries... The letter underscores just how hard the nation's largest trucking operator is willing to push to win approval of the concessions. New Penn and its regional sister companies Holland and Reddaway have outperformed nationwide YRC in recent quarters. YRC Worldwide Chief Operations Officer, Michael J. Smid, earlier warned a 'no' vote could shut down the entire company... (Photo from joc.com: NewPenn's truck)
* Capacity Shortage Pushes Up Profit for Ryder
Miami,FL,USA -The Journal of Commerce Online, by William B. Cassidy -Oct 22, 2010: -- Supply chain equipment giant sees 40 percent income gain on $1.32 billion in sales... Ryder System's earnings leaped 40 percent to $39.7 million in the third quarter on a 5 percent increase in revenue to $1.32 billion, the Miami-based company said... Truck capacity shortages were shippers' difficulty and Ryder's opportunity... Its Supply Chain Solutions business unit saw revenue jump 10 percent thanks to higher subcontracted transportation. Its Fleet Management Solutions unit increased revenue 4 percent on stronger vehicle rental and used equipment sales... Those gains were partially offset by a weaker full service equipment leasing business thanks to higher maintenance costs and customer fleet reductions... (Photo from t21: Ryder's truck)
* USA - September Truck Tonnage Rises 5.1%. Month-to-Month Index Reading Improves 1.7%
Arlington,VA,USA -Transport Topics -26 Oct 2010: -- Truck tonnage rose 5.1% in September, the 10th straight year-over-year increase, American Trucking Associations said Tuesday... The upturn put the index at a reading of 108.7, with the year 2000 a baseline reading of 100, ATA said in its monthly seasonally adjusted for-hire truck tonnage index... Tonnage is up 6.1% for the year compared with the same period in 2009, the group reported... September tonnage improved 1.7% from August, turning around a previously reported 2.7% July-to-August decline that had been the biggest monthly drop in more than a year. ATA revised that decline to a 2.8% downturn... ATA calculates the tonnage each month based on reports by its member trucking companies...Labels: trucking industry news USA
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