EnRoute
Headlines From The Vehicle Renting and Leasing Industry
Wednesday, January 9, 2008
Top Stories
President George W. Bush signed the federal Energy Independence and Security Act into law in December which included a provision that will direct the National Academy of Sciences to study and develop fuel mileage standards for heavy trucks. FULL STORY
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The European Commission is drafting new rules that would require European truck makers to cut air pollution in the European Union by as much as 80 percent, a move that would put Europe closer to U.S. standards. FULL STORY
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The U.S. Department of Transportation (DOT) continued to implement its Mexico cross-border program despite an amendment to the DOT funding bill, sponsored by Senator Byron Dorgan, (D-ND), prohibiting the expenditure of funds to support the program. FULL STORY
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The National Transportation Safety Board (NTSB) has recommended to the Federal Motor Carrier Safety Administration (FMCSA) that electronic on-board recorders (EOBRs) should be required and installed on all trucks, not just those operated by carriers with bad safety records as currently proposed FULL STORY
Technology Trends
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Enterprise Rent-A-Car has teamed up with Metro-North Railroad, which serves commuters between New York City and Connecticut, to allow them to reserve a car that they can pick up when they arrive at one of 22 stations and drop off the vehicle at any metered spot at the station. FULL STORY
The 20,000 pound capacity Paralift steerable truck lift axle system from Hendrickson Auxiliary Axle Systems has been upgraded to now include adjustable ride height and frame width capabilities. FULL STORY
The Client Information Center, a web-based tool introduced by J.J. Keller & Associates, is designed to provide a link between fleet operators and J.J. Keller’s Outsource Services area by giving users access to real-time fleet data. FULL STORY
An upgrade to PacLease’s PacTrac telematics system, is the PacTrac Blu which is a 7-inch, full-color display interface with audio and video capability. FULL STORY
Briefly
Eaton Corp. has ranked first in its industry sector on Corporate Responsibility Officer (CRO) Magazine’s 10 Best Corporate Citizens List for 2007. . .The aftermarket business unit of Webb Wheel Products has entered into a strategic alliance with TMD Friction to couple brake drums and friction linings to better serve the commercial vehicle aftermarket parts industry. . .FleetCor has announced an agreement to provide its Fleet MasterCard program to customers of Trimble. . .Ford Motor Company and U-Haul International launched the industry’s first fleet of vehicles painted with Ford’s environmentally responsible new technology, which reduces greenhouse gases by 15 percent and cuts Ford’s production costs. . .Ryder System has reached an agreement to acquire all the assets of the Full Service Truck Leasing, Commercial Truck Rental and Contract Truck Maintenance businesses of Lily Transportation Corp. . .Bandag, founded on December 20, 1957, is now celebrating its golden anniversary with its tire retreading business. . .R.L. Polk & Co. has partnered with MileOne Automotive after completing a two-month pilot program with 14 of the company’s dealerships. As part of the agreement, all of MileOne’s dealerships will now use Polk’s lead-scoring system. . .Fontaine International has launched a new company, Fontaine Parts Connection, that is dedicated to the aftermarket. . .J.J. Keller & Associates will partner with Seavey Iditarod Racing Team and will sponsor Mitch Seavey, the 2004 Iditarod Champion. . .A new round of investing will allow Michelin North America Inc. to use a $350 million investment to upgrade all the company’s manufacturing facilities in Anderson, Greenville, Lexington and Spartanburg counties in South Carolina. . .A joint project between Dupont and Manheim has resulted in 10 employees from those two companies receiving a 2007 Sustainable Growth Excellence Award.
People on the Move
GE Capital Solutions, Commercial Distribution Finance has promoted Bob Pattison to vice president of sales in the Structured Lending division. . .Gary McCartney has been appointed vice president of Volvo Financial Services of North America’s Canada operations. . .Ken Irwin has been hired by Truck-Lite to be the company’s new Area Director for Canada. . .Manheim has named Tom Nohstadt the new vice president of account management for national accounts. . .David Adams has been appointed as president and chief executive officer of Horton Holding Inc. . .Yokohama Tire Corp. has promoted Dan Guiney to director of technical services. . .Jean-Claude Kihn has been promoted to senior vice-president and chief technical officer for Goodyear Tire & Rubber Company. . .Eaton Corp. has announced Dave Bennett has been named vice president and general manager for the Truck Group’s new Asia-Pacific division; Dimitri Kazarinoff will fill the newly-created role of general manager for emerging technologies and business development; and John Coll will move into the Truck Group’s newly created role of vice-president of sales. . .Sean Coleman has been named director of marketing for Hendrickson Truck Systems Group and Jeff Zawacki has assumed duties as general manager of the Hendrickson Bumper and Trim business unit of Joliet, IL. . .Rick Mills, president of Cummins’ Components Group, will retire at the end of March 2008 after more than 36 years with Cummins Inc.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company | Symbol (Click for Chart) |
01/09 Close | Two Week Performance | |
|---|---|---|---|---|
| ArvinMeritor | ARM | $9.49 | $0.40 | 4.04% |
| Avis Budget Group Inc. | CAR | $10.07 | $0.24 | 2.44% |
| Caterpillar Inc. | CAT | $67.23 | $0.08 | 0.12% |
| Cummins Inc. | CMI | $51.98 | $2.60 | 4.76% |
| Eaton | ETN | $88.69 | $0.58 | 0.66% |
| General Electric | GE | $35.80 | $0.40 | 1.13% |
| Goodyear Tire & Rubber | GT | $24.17 | $0.56 | 2.37% |
| PACCAR Inc. | PCAR | $48.31 | $0.08 | 0.17% |
| Ryder | R | $41.83 | $0.21 | 0.50% |
SOURCE: Yahoo! Finance and bigcharts.com
Money Matters
Xata Corp. has signed a definitive agreement to acquire GeoLogic Solutions for $17.5 million. FULL STORY
The value of Canadian trucks and trailers is rapidly disappearing as the Canadian dollar rises against the value of the American dollar. FULL STORY
General Motors Corp. and Navistar International Corp. have finally reached a deal in which GM would sell its medium-duty truck division and related service parts businesses to Navistar. FULL STORY
News From TRALA
TRALA's 2008 Annual Meeting
Join us April 2-5 at the Arizona Biltmore Resort and Spa as we celebrate TRALA’s 30 years of service to the truck renting and leasing industry. To register for the meeting, simply visit TRALA's website. Hotel accommodations can be made by contacting the Arizona Biltmore directly at (800) 950-0086 and mention TRALA to receive the discounted rate. Please contact Michelle McCarthy at (703) 299-9120 or mmccarthy@trala.org if you have any questions.
Scholarship Application Deadline January 15!
What family can’t use some help with paying for the costs of today’s higher education? Don’t miss the opportunity for your son or daughter to apply for a $5,000 college scholarship that is renewable for up to four years for a total of $20,000. Visit TRALA’s website www.trala.org and click on the button for complete details and the online application. The deadline for applying is January 15, 2008. If you have questions or need other information, please contact TRALA’s Tonya Gibbs at 703/299-9120 or tgibbs@trala.org.