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Sep 16, 2011

TRUCKING INDUSTRY * WORLDWIDE

* USA - Truckonomics: The Comeback Kid

(Photo: A China's road trucks blockade)
TENN,USA -Blog4Truckers -July 2011: -- You read it here first. American manufacturing is the Comeback Kid of 2011. This is the consensus opinion of a number of economists, summed up by John Schultz of The Wall Street Journal, when he recently wrote: “The best news for American trucking has nothing to do with trucks.” In 2010, the number of U.S. manufacturing jobs grew for the first in fourteen years! ... One unanticipated reason for in-sourcing to the U.S. is the superiority of our trucking system. While China is in no danger of losing its position as the planet’s top manufacturer, companies are moving elsewhere because of the “roadblock” of China’s transportation system... This may come as a surprise to those of us accustomed to reading about China’s massive investments in infrastructure and expressways, but many of these are expensive toll roads. To help pay for them, the government has burdened trucking companies with heavy taxes, insurance and registration fees. In China, there are only a few great fleets of the kind that dominate American trucking, and these are often foreign subsidiaries. The majority of trucking companies are family-owned businesses, usually with less than a hundred trucks. Breakdowns and delays are common... The result is that while American companies may be able to manufacture their products more cheaply in China, they pay for it in higher transport costs and unpredictability of schedules. “Making our product in China is only part of the story,” said one businessman who wished to remain anonymous. “Getting the product out of China and onto the ship is a whole other matter” ... So stand up tall, American truckers! Honk if you love the union label. The “Made in America” brand is back and one of the reasons is you. Truckers may be cusses and cayuses—uncouth, ornery and too-independent-for-their-own-good—but they keep the schedule. Keep it up, boys and gals, because somewhere sitting on a bench in a hallway, there is a yet-to-be-hired American factory worker who is counting on you to bring the jobs home...


* USA - YRC Shareholders Approve Restructuring. Internal ‘merger’ seals ownership change, boosts number of common shares

Overland Park,KN,USA -The Journal of Commerce, by William B. Cassidy -Sep 16, 2011: -- YRC Worldwide shareholders overwhelmingly approved the last step in the trucking giant’s financial restructuring plan Friday, voting in favor of an internal merger that launches a massive release of new stock and effectively changes YRC’s ownership... The merger agreement combined YRC Worldwide and its recently created YRC Merger Sub subsidiary, with YRC Worldwide as the surviving company. The merger was needed to execute the final steps of the $500 million restructuring, which was approved by YRC Worldwide, the Teamsters union and its lending group in July... By approving the merger, shareholders authorized the issuance of hundreds of millions of shares of common stock. YRC Worldwide’s banking group will own about 72.5 percent of the company’s stock, and its Teamsters employees 25 percent... Existing shareholders will be left with approximately 2.5 percent of YRC Worldwide’s stock after the transaction is completed. The value of the stock — 28 cents per share early Friday morning — dropped to about 10 cents by noon... The restructuring plan cements long-term credit terms and labor concessions at the $4.3 billion company, which lost more than $2.7 billion since 2006. Its work force shrank from 66,000 employees to 32,000 employees over four years... YRC Worldwide has narrowed its losses, with its national and regional carrier groups ending the second quarter with an operating profit. The company expects to increase its annual revenue to $4.9 billion this year, its first increase since 2006...


* Germany - Deutsche Post Invests $1 Billion in Parcel Service


(Photo: DHL's Post cycle. Cologne,Germany)
Bonn,Germany -The Journal of Commerce, by Bruce Barnard -Sep 16, 2011: -- Deutsche Post DHL will invest $1 billion in its domestic German parcel delivery service to keep pace with surging online shopping. Investment will allow domestic parcel service to handle surging online shopping... The global mail, express and logistics company will spend the money modernizing 33 distribution depots across Germany in the next three to four years... Deutsche Post’s parcel revenues have increased by 3.5 percent annually since 2007 and grew 10 percent year-on-year in the first half of 2011. The parcel unit, which handles 2.6 million shipments a day, now accounts for 20 percent of Deutsche Post’s mail revenues... DHL transports more than 2.6 million parcels daily, and that number doubles during the holiday season. The company’s investment will increase parcel center’s hourly capacity from 20,000 pieces to up to 50,000 pieces at some locations...


* USA - UPS Expects Rising Revenue, Profit Through 2016

Sandy Springs,GA,USA -The Journal of Commerce, by William B. Cassidy -Sep 15, 2011: -- UPS will increase revenue 6 to 8 percent annually through 2016 and raise earnings 10 to 15 percent during that period. Package giant forecasts domestic, international expansion despite slow economy, company executives said Thursday...  The package and freight giant is gearing up for what it expects to be one of its best peak seasons, including the introduction of an enhanced residential delivery service...  UPS will repurchase $2.7 billion of its stock from shareholders this year and a minimum of $8 billion through 2014, the company told analysts...  UPS also plans a $200 million expansion of its European air hub in Cologne, Germany, increasing its capacity by 65 percent or 80,000 more packages per hour...

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