EnRoute
Headlines From The Vehicle Renting and Leasing Industry
Wednesday, November 8, 2007
Top Stories
The Annual Global Business Travel Forecast by American Express predicts that car rental rates will increase at a slower rate in 2008 than in 2007. FULL STORY
-
A new study released by ABI Research has found that despite uncertainty over the cost-effectiveness of hybrid technology, fuel supply and emissions, interest continues to grow over hybrid vehicles both for consumer and commercial use. FULL STORY
-
After Congress expressed a desire to know whether participants were complying with federal safety and trade laws, the Federal Motor Carrier Safety Administration (FMCSA) has decided that later this month trucks participating in the U.S.-Mexico border program will be required to install satellite tracking technology on the vehicles. FULL STORY
-
The supplemental notice of proposed rulemaking that included requirements for the collection and use of documents to verify the accuracy of driver records of duty status has been withdrawn by the Federal Motor Carrier Safety Administration (FMCSA). FULL STORY
Technology Trends
-
Ryder System has partnered with Freightliner to offer its RydeGreen line of tractors and trailers, which are equipped with special features that have earned the SmartWay designation from the U.S. Environmental Protection Agency. FULL STORY
The next phase of RFID sensor-based BAT RF products from Stemco is using automatic communication modes to capture real-time truck and trailer information. FULL STORY
J.J. Keller & Associates new online fleet management solution, FleetMentor, is designed to be an expert business advisor and kit of management tools that are all available in an interactive, searchable on-line format. FULL STORY
The International PayStar 5900i Set-Back Axle (SBA), a Class 8 vocational on/off road vehicle, is the newest truck model in International Truck and Engine Corp.’s PayStar line. FULL STORY
Briefly
Kenworth Sales Co. has opened a $13 million, 122, 000 sq. ft. flagship location in Salt Lake city, three times larger than its previous main location. . .Freightliner LLC has announced that it intends to transfer selected functions, including truck sales and marketing, from its corporate headquarters in Portland, OR, to a South Carolina location closer to customer and Freightliner Trucks production facilities. . .Goodyear’s New Commercial Tire Academy Boot Camp in Dallas allows representatives to undergo a week of intense training to learn more about tire issues and how they affect a customer’s tire program. . .PACCAR Leasing Co. has added four new location in Wisconsin, joining their current facility in Milwaukee. . .Paul Larkins, chief executive officer of Key National Finance and president and CEO of Key Equipment Finance, was named to the top ten list of Denver area banking and finance newsmakers by the Denver Business Journal. . .Yokohama Rubber Co. Ltd. will hold a tree-planting ceremony on November 11 at its Hiratsuka, Japan factory as part of its “Yokohama Forever Forest” project. . .Hendrickson’s parent firm, the Boler Company, announced it has signed a definitive agreement to acquire Watson & Chalin Manufacturing. . .Avis Budget Group, Inc. has acquired a significant interest in Carey International Inc., a provider of chauffeured ground transportation services worldwide. . .MHF Incorporated has selected the patented Global Locating System (GLS) trailer tracking technology from SkyBitz for its 250 trailer fleet. . .Ten Manheim and DuPont Employees were given a 2007 Sustainable Growth Excellence Award for a joint project to move from solvent-based automotive paint to water-based at seven Manheim centers. . .GE Capital Solutions Fleet Services has received Certified Supplier designation from CareStream Health, Inc. for successfully meeting and exceeding Carestream Health’s quality and operational criteria for certification. . .Enterprise Rent-A-Car and National Car Rental and Alamo Rent A Car are launching a new “carbon offset program” in January that will give customers the option to fund certified projects to remove enough carbon dioxide from the atmosphere to make up for the emissions from their vehicles. . .ArvinMeritor is expected to open a new Commercial Vehicle Systems (CVS) facility in Monterrey, Mexico and close its CVS axle operations in Arden, North Carolina by September 2008.
People on the Move
Key Equipment Finance has promoted Michael A. Mount to senior vice president in the company’s credit organization and has appointed John Evans to executive vice president and managing director of international operations. . .Goodyear Tire and Rubber Co. has named Brett Ponton to vice president of marketing for the consumer replacement business and Scott Vogel has been hired as vice president, retail. . .Rick Morris has joined Dollar Thrifty Automotive Group as the company’s new executive vice president and chief information officer.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company | Symbol (Click for Chart) |
11/07 Close | Two Week Performance | |
|---|---|---|---|---|
| ArvinMeritor | ARM | $13.70 | $0.42 | 2.97% |
| Avis Budget Group Inc. | CAR | $15.60 | $3.65 | 18.96% |
| Caterpillar Inc. | CAT | $73.64 | $1.28 | 1.71% |
| Cummins Inc. | CMI | $124.85 | $3.05 | 2.38% |
| Eaton | ETN | $88.16 | $3.94 | 4.28% |
| General Electric | GE | $39.08 | $1.10 | 2.74% |
| Goodyear Tire & Rubber | GT | $28.79 | $1.58 | 5.20% |
| PACCAR Inc. | PCAR | $52.09 | $3.36 | 6.06% |
| Ryder | R | $46.35 | $1.03 | 2.17% |
SOURCE: Yahoo! Finance and bigcharts.com
Money Matters
Cummins reported that its third-quarter profit rose to $184 million, up from $171 million during the same period in 2006. FULL STORY
Goodyear Tire & Rubber Co. has reported third quarter sales of $5.1billion, up three percent from last year. FULL STORY
Supreme Industries has won a new fleet contract award valued in excess of $10 million from Budget Truck Rental to provide 1,850 dry freight vehicles. FULL STORY
Consolidated sales for the first nine months of 2007 for Continental AG totaled 11.9 billion euros, almost nine percent more than for the same period in 2006. FULL STORY
News From TRALA
TRALA's unrivaled record of success has earned the truck renting and leasing industry a strong reputation at all levels of government. Contributions to TRALA’s Legal Action Fund go a long way in ensuring that reputation will endure. Please join your colleagues in making a contribution to the 2007 Legal Action Fund campaign. Visit TRALA’s website at www.trala.org to make your pledge or payment today! Thanks for your continued support.