EnRoute
Headlines From The Vehicle Renting and Leasing Industry
Wednesday, March 7, 2007
Top Stories
Fitch Ratings released a report titled, Accounting and Financial Reporting: 2007 Global Outlook – Measuring Up, which highlighted the work that FASB/IASB are doing on new lease accounting standards. FULL STORY
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The Federal Highway Administration (FHWA) issues a final rule on APU weight allowances. FULL STORY
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One couple is betting everything that algae might be the next producer of biofuel. FULL STORY
Technology Trends
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Truck-Lite has introduced the 66 Series oval lamp, which used the company’s Advanced Optics Design software to provide a more homogeneous-appearing light pattern. FULL STORY
Webb Wheel’s aftermarket division has added three new rotors to its product offerings. FULL STORY
Thermo King debuts its multi-temp trailer system, the Spectrum system and the Heat King unit. FULL STORY
Utility Trailer is looking to showcase its 4000D-X(R) thin-wall dry van at this year’s Mid-America Trucking Show in Louisville, KY. FULL STORY
Briefly
Cummins named to CRO Magazine’s “Best Corporate Citizens” list for the eighth straight year. . .Penske Truck Leasing has opened a new facility in Lincoln, NE. . .Fleet One has announced that 192 Econo Lube N’Tube & Brakes sites have been added to its Fleet One Local acceptance network. . .Online registration is open for International Decision Systems ® ConnectionPoint ’07 user conference in June. Information can be found at www.idsgrp.com/cp07. . .Thrifty Automotive Group Inc. has acquired a number of Thrifty Car Rental franchise operations and Dollar Rent A Car franchise operations in Pennsylvania, which were sold by Generic Auto Rental Inc. . .Ryder System was honored by General Motors for overall excellence in supporting GM’s product efforts at the North American International Auto Show in Detroit. . .Jack and Susan Taylor have donated $25 million to the St. Louis-based Donald Danforth Plant Science Center to create the Enterprise Rent-A-Car Institute for Renewable Fuels. . .Don’t forget that springing forward an hour this year begins at 2 am Sunday, March 11, three weeks earlier than in recent years.
People on the Move
Ryder System has appointed Rosario Rizzo to senior vice president and general manager of dedicated contract carriage and Todd Carter to vice president and general manager of global transportation management. . .Michael Preston has recently joined Ruan as terminal manager for the company’s customer facility in Yuma, AZ. . .J.J. Keller & Associates has recently hired Tom Holm as a regional account executive serving the Southeast region of the U.S.. . .Bob Johnson has been promoted to aftermarket sales regional director for the Southern region for Bendix Commercial Vehicle Systems.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company | Symbol (Click for Chart) |
03/06 Close | Two Week Performance | |
|---|---|---|---|---|
| ArvinMeritor | ARM | $17.67 | $0.46 | 2.67% |
| Avis Budget Group Inc. | CAR | $25.84 | $0.43 | 1.69% |
| Caterpillar Inc. | CAT | $63.62 | $0.45 | 0.71% |
| Con-way Inc. | CNW | $47.40 | $0.08 | 0.17% |
| Cummins Inc. | CMI | $134.22 | $0.57 | 0.43% |
| Eaton | ETN | $80.89 | $1.51 | 1.90% |
| General Electric | GE | $34.72 | $0.17 | 0.49% |
| PACCAR Inc. | PCAR | $68.76 | $0.98 | 1.45% |
| Ryder | R | $50.11 | $0.80 | 1.62% |
SOURCE: Yahoo! Finance and bigcharts.com
Money Matters
Great Dane sets an all-time company record in 2006 with more than 60,000 trailers shipped from Great Dane’s nine factories. FULL STORY
Sales of Continental’s Commercial Vehicle Tires division rose to $1,845.1 million, up 6.5 percent compared with 2005. FULL STORY
AB Volvo has made a public offer to acquire Nissan Diesel for $1.1 billion. FULL STORY
News From TRALA
TRALA Annual Meeting - March 21 to 24
It’s the last chance to join us at La Quinta Resort & Club for 2007’s only industry-wide gathering of vehicle renting and leasing companies. If you haven’t yet registered, simply visit our website. To reserve hotel accommodations at La Quinta, contact TRALA’s Anne Riser immediately at 703-299-9120 or ariser@trala.org