EnRoute
Headlines From The Vehicle Renting and Leasing Industry
Wednesday, May 23, 2007
Top Stories
The U.S. Environmental Protection Agency (EPA) is seeking comments on how a policy that offers reduced penalties to companies for self-disclosing environmental violations should apply to the new owners of recently acquired facilities. FULL STORY
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The U.S. Senate Committee on Commerce, Science and Transportation has passed a bipartisan bill that would require truck makers to improve mileage for medium- and heavy-duty trucks by 4 percent each year for the next 20 years. FULL STORY
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The U.S. House of Representatives has passed a bill by a vote of 411 to 3, to approve a three-year Department of Transportation pilot program that would restrict opening the border to 100 carriers based in Mexico. They would be allowed to use a maximum of 1,000 vehicles under the pilot program. FULL STORY
Technology Trends
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SmartWave TPMS tire pressure monitoring system from Dana Corp.’s Commercial Vehicle Systems group is now available for retrofit installation on a variety of commercial truck models. FULL STORY
A new heavy duty large steel platform is now available on Leyman Lift Gates SLP Heavy Duty Hide-A-Way. FULL STORY
To meet the needs of the expanding alternative fuel markets and conventional fuel markets, Goodyear has introduced the Flexwing VersaFuel transfer hose. FULL STORY
Briefly
PACCAR Inc. announced plans to build a $400 million engine facility and technology center in Columbus, Mississippi. . .Hino has released the world’s first production hybrid truck in Australia. . .Comdata Corp. has announced the Comdata Card is now accepted at the Ambassador Bridge, the international crossing located between Detroit, Michigan and Windsor, Ontario. . . Ruan Transport Corp. celebrates 75 years of business this year. . .Michelin Tires has filed a lawsuit against a China manufacturing group that it says is exporting look-alike tires to the U.S.. . .Hendrickson Auxiliary Axle Systems recently earned ISO/TS 16949: 2002 Quality Management System Certification by the Vehicle Certification Agency. . .Eaton Corp. was named one of the “World’s Most Ethical Companies” by Ethisphere Magazine. . .Corning has entered into a multi-year agreement with Detroit Diesel for the supply of advanced diesel emissions control products. . .Volvo Financial Services and Mack Financial Services have introduced VFS Insurance Services, a new insurance agency to serve customers and dealers. . .Cummins is offering a free interactive payback calculator for computing auxiliary power unit cost savings at www.cumminscomfortguard.com. . .GE Capital Solutions Fleet Services announced that it has been awarded the Blue Seal of Excellence from the National Institute for Automotive Service Excellence for the eighth year. . .To read more news about TRALA members, please click here.
People on the Move
Michael Oetjen has been named vice president of integrated logistics for NationaLease. . .Stemco has named Jim Reis as vice president of business development and Donnie Wells as vice president of engineering. . .Yokohama Tire Corp. has promoted president and CEO Norio Karashima to the position of managing corporate officer. . .Michael Paul has been appointed plant manager for Bendix Spicer Foundation Brake’s new wheel-end manufacturing facility in Bowling Green, Kentucky. . .Key Equipment Finance has promoted Clif Gottwals to president and chief operating officer of the company’s global vendor services business. . .Jonathan Randall has been named the new director of sales and marketing for Freightliner’s Custom Chassis Corp. (FCCC). . .Carrier Transicold has promoted Greg Jones to director of National Accounts andJohn Monti to succeed him as Eastern Region director.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company | Symbol (Click for Chart) |
05/22 Close | Two Week Performance | |
|---|---|---|---|---|
| ArvinMeritor | ARM | $20.65 | $0.15 | 0.72% |
| Avis Budget Group Inc. | CAR | $28.39 | $0.09 | 0.32% |
| Caterpillar Inc. | CAT | $75.51 | $0.66 | 0.88% |
| Cummins Inc. | CMI | $87.56 | $0.28 | 0.32% |
| Eaton | ETN | $91.48 | $0.83 | 0.90% |
| General Electric | GE | $37.34 | $0.24 | 0.65% |
| Goodyear Tire & Rubber | GT | $34.33 | $0.19 | 0.55% |
| PACCAR Inc. | PCAR | $86.92 | $1.27 | 1.44% |
| Ryder | R | $54.30 | $0.05 | 0.09% |
SOURCE: Yahoo! Finance and bigcharts.com
Money Matters
Citi Transportation Finance is the new division of Citigroup’s Commercial Business Group Capital that will focus on transportation fleet financing.FULL STORY
Bandag reported their first quarter net earnings totaled $14.9 million, a $9.2 million increase over earnings from the first quarter of 2006. FULL STORY
Avis Budget Group, Inc. recently reported their revenue for the first quarter has increased by 2 percent from last year, to $1.4 billion. FULL STORY
Hino Trucks has announced that the 2006 fiscal year, which ended March 31, 2007, showed the company had sold 6,595 trucks, a 39 percent increase over the prior fiscal year. FULL STORY
News From TRALA
Deadline for Submitting Advertising Materials Has Been Extended to May 31!
There is still time to advertise in the premier industry reference guide. . .The TRALA Vehicle! Information about the 2007-2008 rates and guidelines for our annual Membership Directory and Buyers Guide are available on the TRALA website or by contacting TRALA’s Maggie Brown at (703) 299-9120 or mbrown@trala.org