April 20, 2000 - Industry News
Jackson, MS-based KLLM Chairman Jack Liles has made an offer to buy the company in a deal reportedly worth more than $33 million
Average highway speeds are on the upswing in Iowa, as the state legislature is expected to adjourn soon without approving an increase in the state's speed limits
Overnite Transportation emphasized a 6.4% increase in first quarter revenue compared to last year and a turnaround from the previous quarter's losses when it reported its first-quarter financial results yesterday, but the Teamsters union attacked the report as "creative bookkeeping."
Overnite reported first quarter operating income of only $500,000, compared to $10.3 million in the first quarter of 1999
Sixteen ballots have been challenged in the Teamsters representation election at less-than-truckload carrier SAIA Motor Freight in Grand Prairie, TX, where the union lost by only one vote
UPS reported record results for the first quarter, with a 63% jump in net income for the quarter ending March 31
Michelin is opening a tire plant in Independence, VA, which will initially support Volvo Trucks North American in Dublin
Williams Travel Center will build a facility on a 19-acre site in Fort Worth, TX, within the Alliance development along Interstate 35W
Landstar System, Jacksonville, FL, has introduced a new e-mail service exclusively for its agents and independent contractors
Higher interest rates and diesel fuel prices, coupled with a driver shortage and increased supply of used trucks, will likely impact demand for on-highway truck engines in North America. But Caterpillar says it expects its engine sales to remain near 1999 levels with increased market share in the medium and heavy duty truck segments plus higher demand for other engines
Preliminary first quarter reports put Detroit Diesel Corp. revenues at $536 million and net income at $10.1 million
Meritor Automotive reported net income of $57 million for its fiscal 2000 second quarter, an increase of 14% over second quarter 1999
Core Materials Corp. says it has reached a tentative deal with Mack Trucks to manufacture and assemble fiberglass reinforced molded products for current and future Mack Class 8 models
Rollins Truck Leasing Corp. posted record net earnings of $14.4 million for its second fiscal quarter ending March 31 -- up 29% from the same period last year and a company record
Operating revenue at Smithway Motor Xpress Corp., Fort Dodge, IA, increased 7.3% to $50.7
million in the first quarter from $47.3 million during the same quarter in 1999. Net earnings were $238,000, or $0.05 per diluted share,
April 19, 2000 - Industry News
Canadian Teamsters began a job action at Overnite Transportation Company's eight terminals in Canada yesterday
The Teamsters union has filed a civil suit against ousted President Ron Carey and nine other individuals and groups.
The union alleges racketeering, embezzlement, breach of fiduciary duties and legal malpractice in what it calls "a wide-ranging plot to loot the union treasury in order to bolster the 1996 re-election campaign of disgraced former Teamster General President Ron Carey."
If successful, the union stands to recover more than $9 million
U.S. trucking companies aren't the only ones facing a severe shortage of qualified, trained truck drivers. A European trucking association says it's bad on the other side of the Atlantic, as well
The National Highway Traffic Safety Administration has announced the recall of nearly 1,000 Peterbilts for a possible engine fire problem
"Turning Problems Into Profits: Managing Your Way Through An Oversupplied Used Truck Market," is the theme for the Used Truck Association's inaugural annual convention
Heavy, wet snow has closed a section of I-90 across South Dakota
Trucking environmental policy expert Allen Schaeffer has joined the issues management firm of Rowan & Blewitt, where he will work on a campaign to promote the diesel engine as the workhorse of American industry
American Freightways Corp., Harrison, AR, has relocated 12 terminals to newly constructed facilities. The new facilities are said to double American Freightways' capacity to serve its customers in these markets
While many other truckload carriers are reporting drops in earnings, Heartland Express, Coralville, IA, has reported an increase in first quarter net income. The fleet took in more than $9.1 million, compared to nearly $7.6 million
First quarter earnings for truckload carrier Swift Transportation dropped slightly due to higher fuel costs
April 18, 2000 - Industry News
Six of the world's leading tire and rubber makers are forming an online marketplace for doing business.
Michelin of France and Continental AG of Germany, join U.S. tire giants Goodyear Tire & Rubber Co. and Cooper
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