* Kansas - First quarter deficit plunges 63 percent as volume, rates climb
Overland Park,KN,USA -The Journal of Commerce Online, by William B. Cassidy -May 6, 2011: -- A surge in freight in March and higher prices buoyed YRC Worldwide in the first quarter but couldn’t bring the troubled less-than-truckload giant back to profitability... The nation’s second-largest trucking operator lost $102 million in the first quarter, compared with $274 million a year earlier. Revenue rose 13.8 percent to $1.1 billion... (Image from wikipedia, by cam vilay: YRC worldwide, vintage Yellow Corp. Logo)
* YRC’s Zollars: LTL Truck Rates Will Keep Rising
Overland Park,KN,USA -The Journal of Commerce Online, by William B. Cassidy -May 6, 2011: -- Contract pricing to climb as excess capacity is ‘soaked up,’ head of LTL giant says... Less-than-truckload pricing will continue to rise throughout 2011, as a stronger economy “soaks up” excess capacity, said YRC Worldwide’s William D. Zollars... The trucker improved revenue per hundredweight 1.8 percent in the first quarter, thanks to higher rates and fuel surcharges, he said... That’s a smaller year-over-year increase in yield than some competitors reported, but those truckers made deeper price cuts in 2010 than YRC, Zollars said...
* Michigan - Demand Boosts Con-way Revenue 7.2 Percent. LTL unit Con-way Freight increases profit while hauling less tonnage
Ann Arbor, MICH,USA -The Journal of Commerce Online, by William B. Cassidy -May 6, 2011: -- Transportation and logistics giant Con-way increased revenue 7.2 percent to $1.3 billion in the first quarter, reporting a $6.9 million profit... That profit would have been higher but for $6.3 million in tax adjustments, the company said. All of its units reported an operating profit in the quarter... Con-way returned to the black in 2010, reporting a $4 million profit for the year compared with a $110.9 million loss in 2009 following a fierce truck rate war... The results show progress toward a better balance of volume and pricing at less-than-truckload carrier Con-way Freight, which hauled fewer shipments...
* California - Assembly to Vote on Port Trucker Classification: Move would help truckers to organize as a union, define drayage drivers as employees
Sacramento,CAL,USA -The Journal of Commerce Online, by Bill Mongelluzzo -May 5, 2011: -- Labor interests in California are taking the battle over the job classification of drayage truck drivers to the State Assembly with a bill that would define the drivers who serve ports and intermodal rail yards as employees rather than independent contractors... The proposed law would, “deem drayage truck operators to be statutory employees for employment purposes" ... The classification of drayage truck drivers is a key issue in the effort by the Teamsters union to organize harbor truck drivers, not only in California but in ports across the nation... Drivers at most ports are classified as independent contractors, and by federal law unions cannot organize independent contractors. If classified as employees, however, the drivers could be organized... Labor interests, including those who addressed the legislature's committee Wednesday, charge drivers at California’s ports and intermodal rail yards are being misclassified. Speakers said the drivers do not control how, when and where they work, and many of the drivers work exclusively for the same companies for years... This has significant implications for the drivers and for state governments across the nation and for the federal government, said Paul Marvy, co-author of the research report for the National Employment Law Center entitled, “The Big Rig: Poverty, Pollution and the Misclassification of Port Drivers at America’s Ports” ... Also, the legislative analysis of the bill, which is supported by the Teamsters, states the federal and state governments are losing millions of dollars in tax revenue each year as motor companies pay no employment or social security taxes...
* New Jersey - Celadon, Good news is hidden
Princeton,NJ.USA -Fleet Owner, by Jim Mele -May 5, 2011: -- Wildly mixed economic and business forces make it “tough to forecast even one or two quarters out,” but there is some good news for trucking hidden among the contradictory signs, according to Paul Will, the vice chairman, president and COO of the Celadon Group. After three years of significant overcapacity in truckload carriage, “it now appears to be in equilibrium and going forward will be in carriers’ favor, especially if economy picks up at all,” ... Countering the good news, estimates are that it will take 48 months for employment to recover to pre-recession levels, Will said... (Image from hankstruckpictures: Celadon trucking services freightliner)
Labels: trucking industry nerws USA
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