EnRoute
Headlines From The Vehicle Renting and Leasing Industry
Wednesday, July 28, 2010
Top Stories
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On July 13, 2010, the US Court of Appeals for the Eighth Circuit invoked the federal Graves Law in ruling that a vehicle lessor could not be held vicariously liable on the sole basis of vehicle ownership. The decision in Carton v. GMAC (General Motors Acceptance Corporation) upholds an earlier ruling of the United States District Court for the Northern District of Iowa which ruled against the appellants’ vicarious liability claims as well as their negligent entrustment claims. FULL STORY
The Federal Motor Carrier Safety Administration (FMCSA) sent its proposal for a new hours-of- service rule to the White House Office of Management and Budget for review, meeting the first of its court-appointed deadlines for issuing the rule. FULL STORY
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A new energy bill was introduced in the U.S. Senate that does not include controversial climate provisions that would have capped carbon dioxide and other greenhouse gas emissions. FULL STORY
Technology Trends
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Silver Eagle Manufacturing is debuting the Hawk converter dolly for fleets that pull double- and triple-trailer configurations and is capable of handling a gross vehicle weight rating of 20,000 pounds. FULL STORY
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Eaton Corporation has collaborated with the Electric Power Research Institute and the Tennessee Valley Authority for a prototype integrated solar-assisted electric vehicle charging station to be erected at EPRI’s research laboratory in Knoxville, TN. FULL STORY
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Bridgestone Bandag Tire Solutions has introduced the Bandag-brand BDR-HG tread which is designed for regional and over-the-road fleets operating tandem-axle tractors. The year-round all-weather tread features an open shoulder and full-depth voids and sipes, which help maintain a true lug throughout the tread’s life. FULL STORY
Briefly
Double Coin Holdings, Ltd. has received SmartWay verification on its FR605 steer-position tire. The FR605 joins the FT105 and FD405 as an addition to the lineup of Double Coin products on the Environmental Protection Agency’s list of SmartWay verified technologies. . .PHH Arval has acquired select assets of the Center of Transportation Safety LLC, including the company’s brand. PHH Arval will now market its newly acquired risk management and training products and solutions under the PHH Center of Transportation (CTS) brand, and CTS will operate as a separate division within PHH Arval. . .Penske Truck Leasing announced the opening of its new 12,000-square-foot Tijuana, Mexico facility. The one-story building is situated on one acre and features four service bays and a wash bay. There are six associates employed at the facility, servicing nearly 70 vehicles and 14 lease customers. . .Cummins Inc. created a new sustainability website in addition to releasing its 7th annual Sustainability Report on the ways the company is building stronger communities and reducing its environmental footprint. Please click here to view the website. . .Production of the 300,000th Volvo Group 13-Liter heavy-duty diesel engine was celebrated on July 15 during an event in Hagerstown, MD, recognizing both the North American team that assembled it and Abilene Motor Express of Richmond, VA, the customer who will put it into service. . .Eaton Corp. has acquired EMC Engineers Inc., an energy engineering and energy services company that delivers energy efficiency solutions for a wide range of governmental, educational, commercial and industrial facilities. . .The new, aerodynamic Kenworth T700 is now in full production at the Kenworth Truck Company manufacturing plant in Chillicothe, Ohio. . .Bridgestone will be the “Official Tire of the National Football League” for another five years. This is an extension of a three-year deal that began in 2007.
People
Luis Pasquotto has been named vice president of Cummins Latin America’s Engine Business Unit. . .Comdata Corp. has promoted Ethon Stanford to vice president of sales for its national accounts division. . .Arnold Kowal has been appointed as product manager for Maxon Lift Corporation. . .AmeriQuest Transportation Services has promoted Jim Guice to executive vice president. . .John Abromavage Sr., a 52-year employee of U-Haul International and a director of the company’s engineering services department for more than 40 years, passed away on July 22. He was 78.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company | Symbol (Click for Chart) |
7/14 Close | Performance | |
|---|---|---|---|---|
| Avis Budget Group Inc. | CAR | $11.08 | $0.16 | 1.47% |
| Cummins Inc. | CMI | $79.76 | $0.33 | 0.42% |
| Dana | DAN | $11.56 | $0.05 | 0.43% |
| Eaton | ETN | $77.06 | $0.53 | 0.68% |
| General Electric | GE | $16.05 | $0.13 | 0.80% |
| Goodyear Tire & Rubber | GT | $11.95 | $0.24 | 1.97% |
| Navistar International Corp. | NAV | $52.47 | $1.23 | 2.29% |
| PACCAR Inc. | PCAR | $45.46 | $0.06 | 0.13% |
| Ryder | R | $43.68 |
$0.28 | 0.64% |
SOURCE: Yahoo! Finance and bigcharts.com
Money Matters
Ryder System, Inc. reported its second-quarter revenue was $1.29 billion, a six percent increase from $1.21 billion during the same period in 2009 and net income was $29.8 million compared to $22.9 million. FULL STORY
Rush Enterprises, Inc. second quarter ended June 30, 2010 and the company’s gross revenues from continuing operations totaled $329.8 million, a 9.0% increase from gross revenues from continuing operations of $302.6 million reported for the second quarter ended June 30, 2009. FULL STORY
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Eaton Corporation announced its second quarter sales were $3.38 billion, 16 percent above the second quarter of 2009, and net income was $226 million, compared to $29 million in 2009. FULL STORY
News From TRALA
TRALA is working with the U.S. Chamber of Commerce this election season to promote pro-business candidates for the U.S. Senate and House of Representatives. Please take advantage of the U.S. Chamber’s Vote For Business website to help you and your employees make informed decisions about candidates that will best benefit the business climate in the U.S. and your state. The website has voter resources such as information on registering to vote, finding your polling place, requesting an absentee ballot, and finding information about your candidates. You can also sign up to get news updates sent to your email address.
Please contact TRALA’s Joe Sculley with any questions at jsculley@trala.org or by calling (703) 299-9120.