It's now official - Mitsubishi Motors Co. split its truck and bus business into a separate entity, Mitsubishi Fuso Truck and Bus Corp. Mitsubishi will keep 42 percent of the company, while DaimlerChrysler AG is expected to buy a 43 percent stake in the company for $745 million in March. FULL STORY

Navistar International Corp. President and Chief Operating Officer Daniel C. Ustian will become the company's chief executive officer in February. The 29-year company veteran succeeds John R. Horne, who will continue as chairman of International's board of directors. FULL STORY

Robert H. Kurnick took over as Penske Corp.'s president on January 1, as Richard J. Peters moves from the job to become the Managing Partner of Penske Corporation's newly-formed private equity business, Birmingham Capital Partners. FULL STORY

A Michigan appeals court said Ford Motor Co. could be held liable by the City of Detroit for $861,000 in fines for parking tickets issued to people who leased Ford Motor Co. vehicles. FULL STORY

Insurance costs for commercial fleets are expected to increase up to 20 percent this year as insurance companies struggle with finances and worries over future terrorist attacks. FULL STORY

California's $34 billion budget deficit means money slated for transportation projects will be used in other areas of state government. FULL STORY

The new year brought increases in tolls of up to 17 percent for the New Jersey Turnpike, catching some motorists by surprise. FULL STORY

Critics of the Texas Department of Public Safety say the state needs to improve its regulatory system on trucks after the recent death of a teenage girl. FULL STORY

The European Union Commission cleared the way for DaimlerChrysler AG to join with Hyundai Motor Co. to produce and sell trucks as well as spare parts. FULL STORY

The Canadian Auto Workers union begin contract talks with Freightliner's Sterling Truck truck plant in late December, just months after the CAW won the right to form a union at the plant that makes about 70 medium and heavy duty trucks a day. FULL STORY

AB Volvo's Volvo Powertrain AB business unit- which makes engines, gearboxes, axles and complete drivelines for heavy commercial vehicles - is investing a total of $375 million in its plants in southern Sweden to develop a new line for casting and modifications of the machining systems for the next-generation heavy-duty diesel engine. FULL STORY

AmeriQuest Transportation and Logistics Resources Corp. purchased Corcentric, an Internet venture that provides a variety of electronic commerce services, nine months after its purchase of FleetXchange. FULL STORY

ArvinMeritor launched an improved version of its Q Plus drum brakes, which the company says provides better stopping power. FULL STORY

Cendant Corp.'s Avis Rent A Car System and I.D. Systems Inc. are developing a pilot program to automate the car rental process. FULL STORY

DAC Services' TranSecure pilot at the Port of Houston is now up and running. The joint effort with DAC partners MAXIMUS and International RAM uses fingerprints captured and stored on smart cards to confirm driver identification and control access to secure areas at the terminal. FULL STORY

The California Air Resources Board approved a catalytic particulate filter developed by the Engelhard Corp. to reduce emissions from truck engines operating on a combination of natural gas and diesel fuels. FULL STORY

General Motors and the U.S. Army's National Automotive Center are unveiling a diesel-electric hybrid pickup with a fuel cell power generator - the next generation in combat vehicles that could bring new technology to civilian vehicles. FULL STORY

UPS's west coast fleet has 10 new Class 8 liquefied natural gas tractors. FULL STORY

What's the best state to run a small business? According to MSN.com financial analyst Philipp Harper, it's Nevada - thanks to a pro-business regulatory environment, affordable housing and a good year-round climate. What about your state? FULL STORY

Amerco is working with two financial institutions for up to $650 million to help with its debt restructuring. FULL STORY

ArvinMeritor will buy the remaining 51 percent interest it does not already own in German joint venture Zeuna Starker GmbH & Co. for about $75 million, with plans to complete a full line of emissions technology. FULL STORY

Cendant Corp. lowered its earnings outlook in 2003 due to weakness in the travel industry (FULL STORY), but the company lined up a $2.9 billion revolving credit facility (FULL STORY) and plans to bring $750 million of intermediate-term senior debt to market early next year to replace its short-term debt with long-term debt (FULL STORY).

Eaton Corp. purchased the power systems business of Commonwealth Sprague Capacitor Inc. for $6 million. FULL STORY

International truck group president Steve Keate projects slow but robust growth for total industry Class 6-8 truck sales in 2003 (FULL STORY), while analysts predict Paccar's strategies leading up to the October 1 engine changes could help boost the company's profits (FULL STORY).

Navistar International Corp. closed on $190 million of new senior convertible bonds, with proceeds used to repay existing debt. FULL STORY

Ryder System Inc. reports its 2003 earnings will be about 12 percent higher than 2002 because of cost cuts, but its revenue will remain the same. FULL STORY

TRALA President and CEO Peter Vroom talks about the leasing industry, the urgent need for tort reform and the association's 25th anniversary in the recent Association Agenda, a publication of the U.S. Chamber of Commerce. Click here to read the article.

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TRALA’s celebrating its 25th anniversary this year, and we want you to share in the excitement of the occasion at the 2003 annual meeting, which will be held March 12-16 at the Westin Mission Hills Resort in Rancho Mirage, Calif. Be watching your mailbox for registration information, but for a sneak peek, visit TRALA's Conference Section for more information.

The latest issue of Inside TRALA, the newsletter of our association, is online. Read more by clicking here.

The deadline for TRALA's Founder Scholarship is less than a month away. Can a deserving high school senior you know whose parent works for a TRALA member company use one of four renewable $5,000 scholarships? Visit TRALA's Scholarship Section to see the TRALA scholars since 1996 and to get information about the scholarship program.

Do any of your company's vehicles travel through Connecticut, Florida, Maine, New York, Rhode Island or the District of Columbia? Because of vicarious liability, a vehicle lessor can be held responsible for the negligent actions of a lessee or vehicle operator in these areas, meaning a single judgment could potentially wipe out a company. TRALA is fighting for tort reform with every dollar raised in this year's Legal Action Fund Campaign. Your contribution will make a difference to lower insurance rates and protect businesses from potential bankruptcy. Visit TRALA's Legal Action Fund Section for more information.

The 2002-03 TRALA Vehicle is online, so member information is just a click of the mouse away. Looking for a colleague's phone number or email address? Searching for a new supplier? Visit the Vehicle online!