EnRoute

Headlines From The Vehicle Renting and Leasing Industry
Wednesday, August 25, 2010

Top Stories

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  On August 1, 2010, the International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB) published a joint exposure draft. The proposal would eliminate the distinction between operating leases and finance leases and would introduce new accounting models for lessees and lessors. Lessees would no longer be permitted to treat leases as “off balance sheet” financings but instead would be required to recognize an asset and liability for all leases within the scope of the proposals. FULL STORY

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  Several “phase-in” plans have been put together by the California Air Resources Board (CARB) to help fleets comply with its heavy-duty tractor-trailer greenhouse gas (GHG) regulation mandate that went into effect January 1, 2010. The plans could give small fleets in particular, a seven year window to meet the new rules if they participate in the state agency’s program. FULL STORY

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  Draft proposals on fuel efficiency and greenhouse gas standards for commercial medium- and heavy-duty on-highway vehicles and work trucks have been sent to the White House. NHTSA plans to publish the proposed rule by the end of September. FULL STORY

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  “The Effectiveness of ABS (Antilock Braking Systems) in Heavy Truck Tractors and Trailers,” is a technical report published by the National Highway Traffic Safety Administration (NHTSA) on its existing safety standard 121 regarding air brake systems. FULL STORY

Technology Trends

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  Odessa Technologies has launched a new section on their website devoted entirely to the upcoming lease accounting changes from a lessor prospective. The section includes information for lessors related to accounting changes, leasing system implications and analysis and other useful links. FULL STORY

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  Enhancements have been made to Dana Holding Corporation’s Spicer® Life Series® (SPL®) Model 250 universal joint assembly, resulting in significantly improved product performance and durability. Designed to meet the needs of new low-emission, high-efficiency trucks in the Class 8 market, the SPL-250® universal joint assembly offers customers more than a 40-percent improvement in dynamic bearing capacity – in the same compact package. FULL STORY

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  The TABLET, launched by PeopleNet, is an optionally portable onboard computer that eliminates the need for additional hand-held devices in the cab. The TABLET is a response to the transportation industry’s demand for a faster workflow and a shorter accounting cycle. FULL STORY

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  Maxon Lift Corporation has introduced the GPC, which is the first European designed, but North American manufactured – cantilever style liftgate. GPC comes in a variety of platforms and can accommodate a wide range of bed height requirements. FULL STORY

Briefly

Bridgestone Corp. was awarded the title of Volvo Premium Supplier. Bridgestone is the first tire manufacturer to receive the Volvo Premium Supplier Award. . .Great Dane Limited Partnership has announced plans to build a new refrigerated trailer plant on a 118-acre site in Statesboro, GA. Construction is expected to get under way later this year to bring the plant into production in 2012. . .The Goodyear Tire & Rubber Company was awarded a five-year contract to supply tires and tire-related services to the Los Angeles Metro Transportation Authority (Metro), the nation’s second-largest transit bus fleet. . .Mack Trucks plans to add 125 workers at its assembly plant in Macugie, PA, starting the first week in October. The move will support a ramp-up in production following a boost in the company’s order activity in the highway and refuse sectors. . .Verizon Wireless and XATA Turnpike, a division of XATA Corporation, have announced the availability of XATA’s Turnpike’s Route Tracker fleet performance management solution for Verizon Wireless enterprise customers. . .Joe Gallick, Penske Logistics senior vice president of sales, is the 2010 recipient of The Pennsylvania State University Robert D. Pashek Award for his contributions to the logistics and transportation fields. . .Pressure Systems International (PSI) has chosen Utility Trailer Manufacturing Company to receive their 2009 Customer Excellence Award. This is the third time that Utility has won the award. . .Volvo Trucks North America will be recalling about 270 people to the New River Valley Assembly Plant beginning September 6 – a staffing increase of approximately 223 percent. . .Continental Tire the Americas and Germany-based Continental AG have re-launched the General Truck Tires brand with a new identity and expanded portfolio. . .Penske Truck Leasing held a groundbreaking ceremony in Garner, N.C., to commemorate the building of a state-of-the-art Penske facility in the Greenfield South Business Park. The new facility is expected to open in January 2011 with three truck bays, a wash bay and a two-lane truck service island. . .GE Capital, Transportation Finance, is offering a Rebate Lease Program aimed at reducing the risk of leasing equipment in an uncertain economy. At the expiration of the fair market value (FMV) lease, the company will rebate customers about $0.04 per mile for under use (the difference between the lease threshold for miles and the vehicles return miles). . .International Decision Systems has rolled out a new website, www.idsgrp.com, which expands the information featured in the IDS front and back office solutions, including Rapport, InfoLease and ProFinia. It also includes an enhanced client support section and will also provide access to an upcoming web training section.