EnRoute - May 15, 2013
Top Stories
TRALA consultant, Bill Bosco, a lease accounting expert, has reported that Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have completed their decision making meetings and barring any last minute issues the lease project exposure draft will be issued on May 16.
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The Department of Transportation has returned without approval a proposed regulation to require speed limiters on heavy trucks to the National Highway Traffic Safety Administration (NHTSA).
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The Government Accountability Office (GAO) has issued a new report to Congress regarding the Transportation Security Administration (TSA) and biometric readers used in the Transportation Worker Identification Credential (TWIC) program. GAO does not believe the problem is with the cards, but with DHS still having problems developing and installing card readers at facilities in a pilot effort.
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The Federal Motor Carrier Safety Administration (FMCSA) has issued a Notice of Proposed Rulemaking that would revise the definition of gross combination weight rating (GCWR).
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Technology Trends
Clean Energy Fuels has created a new business unit, Facilities Modification Services, which will assist fleets in modifying existing facilities and designing new maintenance facilities that service natural gas trucks.
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Comdata Corporation has unveiled FleetAdvance, a solution that uses real-time transaction data to help fleet customers make smarter purchasing decisions, better manage fuel costs and improve driver behavior.
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Briefly
McMahon Truck Group has bought Columbus Truck and Equipment Company and Marietta Mack, the largest Mack and Volvo truck dealer in Ohio. . .Penske Truck Rental has kicked-off a new fundraising effort to benefit the Paralyzed Veterans of America's Mission: ABLE campaign. Consumer rental customers can donate $1.00 to support Mission: ABLE when they rent a one-way truck between Memorial Day 2013 and Memorial Day 2014. Penske Truck Rental will also match each $1.00 donation its customers make during the duration of the campaign. . .Dana Holding Corporation was honored with a 2013 Edison Award. The company earned a bronze award in the Material Science category for its innovative Spicer Diamond Series driveshaft. . .Murphy-Hoffman Company (MHC) has released a locations and services directory application, available now for download from the Google Play store for Android phones to complement its iPhone app, which launched last year. . .PHH Arval has opened a full-service office in Houston, TX. It is the ninth location in North America for the company. . .PACCAR Parts celebrated its 40th anniversary on May 1. . .Ryder System, Inc. has been named a winner for the 2013 Most Valuable Employers (MVE) for Military recognition. The MVEs are selected annually from US-based employers whose recruiting, training and retention plans best serve military service members and veterans.
People
Double Coin Tires and CMA have hired John Ramaika and Tom Rozuk as the company's newest regional fleet managers. . .Tim Newman has been appointed as general manager of Clean Energy Fuels newest business unit, the Facilities Modification Services. . .Hercules Manufacturing has hired Scott D. Helton as a parts sales and marketing customer service representative. . .Auto Truck Grouphas hired Steve Terry as regional fleet sales manager. . .Ivor J. Evans has been named Meritor's executive chairman of the board and interim chief executive officer and president. He succeeds Charles “Chip” McClure Jr. who is departing the company. . .Enterprise Holdings has promoted Christine Taylor-Broughton to senior vice president of North American operations. Chrissy is a member of the third generation of the Taylor family involved in the ownership and management of the company.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company |
Symbol (Click for Chart) |
05/15 Close |
Performance |
| Allison Transmission Holdings |
ALSN |
$23.54 |
$0.13 |
+0.56% |
| Avis Budget Group Inc. |
CAR |
$31.37 |
$0.08 |
+0.26% |
| Cummins Inc. |
CMI |
$114.68 |
$0.12 |
-0.10% |
| Dana Holding Corp. |
DAN |
$17.76 |
$0.03 |
-0.17% |
| Eaton Corp. |
ETN |
$68.68 |
$0.59 |
+0.91% |
| General Electric |
GE |
$23.24 |
$0.23 |
+1.00% |
| Goodyear Tire & Rubber |
GT |
$13.45 |
$0.45 |
+3.50% |
| Navistar International Corp. |
NAV |
$36.34 |
$0.33 |
+0.92% |
| PACCAR Inc. |
PCAR |
$53.20 |
$0.49 |
+0.93% |
| Ryder |
R |
$62.29 |
$0.75 |
+1.22% |
SOURCE: Yahoo! Finance
Money Matters
Dana Holding Corporation has received two grants totaling $3 million from Natural Resources Canada to develop technology to improve thermal management systems for battery system in electric, plug-in hybrid-electric, and hybrid-electric vehicles.
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