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Jul 3, 2010

TRUCKS FINANCING * USA - GE Capital upgrades online vehicle ordering

Eden Prairie,MINN,USA -Fleet Owner -Jul 2, 2010: -- GE Capital Fleet Services has announced a new set of features for its Online Vehicle Ordering system that are designed to further automate and streamline the ordering process, including:

* Vehicle images on configuration screens
* Automated notification
* On-screen notification

In addition to the notification and vehicle imaging enhancements, GE Capital Fleet Services upgraded print and PDF options to include all detailed option codes to help ensure fleet managers have the appropriate options selected before ordering. Option codes were also added to all appropriate screens to help make vehicle validation easier and faster for fleet managers... Another new feature is the net equipment view option, which was developed to provide users a single view of the equipment without having to compare the standard and the optional features that are available for a particular vehicle...


* Texas - Austin Ventures acquires Kansas-based freight manager. Move part of venture firm's plan to create an international transportation services company

Austin,TXS,USA -AMERICAN-STATESMAN, by Lori Hawkins -June 25, 2010: -- Austin Ventures is expanding its holdings in the transportation services industry with a $37 million purchase of a Kansas-based logistics company... The Austin-based venture capital firm said Friday that it has acquired YRC Logistics from trucking giant YRC Worldwide Inc... YRC Logistics, which has annual global billings of more than $500 million, will form the basis for a new company specializing in international freight forwarding, customs brokerage, transportation management, truckload services and warehouse and fulfillment services originating in North America, Latin America, Europe and Asia, Austin Ventures said... YRC Logistics, which has 1,000 employees, will operate as a private company and remain based in Overland Park, Kan... Austin Ventures is investing a $900 million fund it raised in 2008 and has said it plans to invest $600 million of that in growth equity deals like that for YRC Logistics. The balance will be invested in early-stage companies... (Photo from joc: Roadway -YRC Group- big truck)

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Jul 12, 2008

RECONSIDER * USA - Long Beach Council balks on $2 billion truck lease program

The Long Beach City Council has reportedly agreed to reconsider the port’s truck replacement plan because of disagreement about the plan’s financing

Long Beach ,CAL,USA -The Long Beach Press-Telegram/Land Line Magazine -July 11, 2008: -- ... Council members voted 6-0 to revisit the $2 billion financing portion of the port’s clean truck plan by the end of the summer... The financing plan calls for drivers to be eligible for partially subsidized loans to obtain newer, cleaner-burning trucks with late model engines... The Port of Long Beach recently agreed to allow Daimler Financial Services for an estimated $2 billion in loans to local drayage drivers... All trucks working at the ports of Long Beach and Los Angeles will be required to meet 2007 emissions standards by the year 2012...

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Jun 5, 2008

Financing the Trucking Industry * USA - Accounts Receivable

Finance companies provide trucking companies with the necessary amount of finance against their accounts receivables

USA -Article Home, by Kris Koonar -Jun 2, 2008: -- Many owners of trucking companies often face a very tricky situation. They will have clients who do not pay their invoice before the credit period of 30 to 60 days, while at the same time being in constant need of finance to pay off different expenses. Truck driver's wages, fuel, and maintenance expenses are areas of immediate financial requirements. Lack of timely payments mean a lack of cash for immediate expenses. Banks may not be able to give quick loans for different reasons. So how do companies meet these expenses? The solution lies in the accounts receivable finance that factoring companies and other financial institutions are ready to provide. Depending on the financial standing of the clients and the overall rating of the clients, finance companies provide trucking companies with the necessary amount of finance against their accounts receivables... The truck factoring companies buys these accounts receivables and a certain percentage of cash is paid to the clients, which may be up to 90% of the invoice value... This amount is not to be repaid. It is not a loan of any sort, and will be discussed further down... The percentage of finance given depends upon the credit standing of your clients and not on your credit rating...This way factoring companies can even assist you in selecting clients that have good credit ratings. Moreover the collection is taken care of by these companies, so you need not worry about the collection aspect...

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