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Oct 5, 2010

TRUCKING INDUSTRY NEWS * USA - USPS Loss Hits $6 Billion

* Georgia - Revenue better than projected in fiscal 2010, but volume falls by 7 billion

Atlanta,GA,USA -The Journal of Commerce Online -Oct 2, 2010: -- The U.S. Postal Service estimates it lost about $6 billion in its 2010 fiscal year, raising the pressure for greater cost-cutting after lawmakers and regulators failed to bring needed relief to the USPS’s beleaguered finances... Postmaster General John Potter said the projected loss for the 12 months that ended Sept. 30 was better than the $7 billion loss the USPS had projected earlier. But it came with a decline of 7 billion pieces in mail volume, part of a structural shift in delivery the postal service is struggling to respond to with cost cuts and operational changes... But the USPS still faces large mandated pension fund payments – it paid $5.5 billion in 2010 to a fund for retiree health benefits – and the Postal Regulatory Commission last week turned down a request for a rate increase, saying the USPS had not proven the need to raise First Class Mail prices 2 cents... Without help on several fronts, however, Potter estimates the USPS could run out of cash by the end of its current 2011 fiscal year... (Photo from reportyourcomplaint: USPS funny)


* Virginia - Trucking Group Supports Diesel, Gas Tax Increases - ATA backs bill to create office of freight planning funded by fuel taxes

Arlington,VA,USA -The Journal of Commerce Online, by Joseph Bonney -Oct 4, 2010: -- The American Trucking Associations endorsed legislation for a Goods Movement Trust Fund financed by a 12-cent-a-gallon increase in diesel fuel taxes and is encouraging Congress to pass a similar gasoline tax increase to fund transportation projects with regional or national benefit...   The diesel tax increase is proposed in the Freight Focus Act of 2010, sponsored by Rep. Laura Richardson, D-Calif. The Richardson bill would create an office of freight planning within the Department of Transportation that would designate freight corridors, and give priority to spending on infrastructure projects that benefit goods movement...   In addition to the diesel tax increase, the Richardson bill would transfer $4 billion to freight infrastructure from the general fund, and would allow the addition of other revenue sources...


* Virginia - UPS Freight Sets 5.9% Rate Hike

Richmond,VA,USA -Transport Topics -1 Oct 2010: -- UPS Freight, the less-than-truckload unit of UPS Inc., said it will institute an average 5.9% general rate increase later this month... The increase will cover non-contractual shipments in the U.S., Canada and Mexico, and will take effect on Oct. 18... It will apply to minimum charge, LTL rates and accessorial charges, UPS said in a statement late Friday... The release follows similar announcements this week by FedEx Freight, FedEx National LTL and ABF Freight System, which also set higher rates... UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers...


* New York - Greenbriar to Buy Dynamex for $210 Million

Rye,NY,USA -The Journal of Commerce Online, by William B. Cassidy -Oct 2, 2010: -- Transaction would add same-day air, ground service to investment portfolio... Greenbriar Equity Group will buy same-day domestic ground and air freight specialist Dynamex for approximately $210 million... The deal will add Dynamex to Greenbriar’s $1.5 billion portfolio of transportation investments, which include air cargo, rail equipment and logistics businesses... Dallas-based Dynamex is a publicly held company with $10.7 million in net profit on $406.5 million in revenue in its fiscal year that ended July 31... Dynamex’s profit grew 55 percent year-over-year in its last quarter, and it has no long-term debt...


* California - Law creates ‘level playing field’

Sacramento,CAL,USA -Land Line Magazine, by Keith Goble -October 4, 2010: -- A new law in California is intended to help dump truck operators with brokers. It takes effect Jan. 1, 2011... Gov. Arnold Schwarzenegger signed into law a bill that requires a broker of construction trucking services to post a bond to ensure payment to a dump truck operator whose services were brokered. The broker also receives certification of the dump truck operator’s permit to operate... The California Dump Truck Owners Association, which was influential in the bill’s passage, welcomes the protection from unscrupulous brokers who have a history in the state of absconding with people’s money... A legislative analysis on the bill showed that in recent years there has been an increase in the number of construction trucking brokers that “have engaged in unscrupulous practices toward the dump truck operators whose services they broker” ... The new law requires brokers to secure a surety bond of at least $15,000 to ensure payment. Failure to secure a bond would be a misdemeanor and result in as much as a $5,000 fine... In addition, a rebuttable presumption would be created in favor of the dump truck operator if there is a civil action filed due to lack of payment... Brown said that while there is a lot more that needs to be done to rein in brokers in the state, the new law is a good start... (Photo from carinsurancecomparison: A dump-truck)


* New Jersey - Distributor to Shut Down. Loss of sole customer will force shutdown of 32-year-old business

North Bergen,NJ,USA -The Journal of Commerce Online, by William B. Cassidy -Oct 4, 2010: -- A New Jersey-based retail distributor is shutting down after losing its sole remaining client, JC Penney... Interstate Logistics of North Bergen will close its doors Nov. 11... JC Penney declined to renew the distributor's contract, and will handle distribution from facilities in Connecticut and Pennsylvania... North Bergen's Interstate Logistics, founded in 1978, shut down its trucking operation last year. It survived bankruptcy reorganization in 2008 but was hit hard by the recession... 


* Arkansas - P.A.M. Sells Logistics Unit

Tontitown,ARK,USA -Transport Topics -6 Oct 2010: -- P.A.M. Transportation Services said it sold its brokerage operation in Paulsboro, N.J., which did business as East Coast Transport & Logistics... The company did not disclose the price of the sale or who bought the unit, but P.A.M. CEO Dan Cushman told ArkansasBusiness.com that PAM sold the entity back to Dan Latta, from whom P.A.M. had originally bought the operation in 2003... P.A.M. is ranked No. 62 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers...

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