EnRoute - July 10, 2013
Top Stories
“The President's Climate Action Plan” was recently unveiled and calls for further increasing heavy truck fuel economy standards for beyond model year 2018.
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The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) will host five joint public roundtable meetings in September and October on their revised proposals on leasing accounting that were published in May.
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New data compiled by R. L. Polk and Company for the Diesel Technology Forum (DTF) showed more than 28 percent of all trucks registered in the United States or 2.5 million of 8.6 million trucks, are now equipped with advanced new technology clean diesel engines.
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FASB has formally proposed changes to GAAP for private companies. Three proposals were crafted by the Private Company Council (PCC) which was created last year to proposed alternatives for private companies within U.S. GAAP.
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Technology Trends
As regulations continue to change, there are many technology updates that help fleets and drivers stay ahead of compliance.
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Meritor has added a high-torque 15.5-inch clutch to its current line for medium- and heavy-duty trucks.
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PHH Arval has improved the search functionality of PHH InterActive, the company's online fleet management portal. The improvements now provide users with more sophisticated tools to manage their fleet and operational costs.
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Briefly
Mitsubishi Fuso Truck of America Inc. has entered into a partnership with eNow, to offer a range of solar-based auxiliary power systems for its Canter FE/FG Series medium-duty commercial trucks. . .Eaton has launched an authorized rebuilder program for three large independent aftermarket providers to rebuild and sell Eaton heavy-duty transmissions. The providers, Power Train, TransAxle and Valley Truck Parts, will rebuild the transmissions with 100% genuine Eaton components that meet all of the Eaton's reuse and rebuild requirements. . .Kenworth T270 and T370 medium duty models equipped with factory-installed, front drive axles are now available for order with the Hendrickson PRIMAXX® EX rear air suspension. . .Idealease, Inc. has announced the opening of a new facility in Kennesaw, GA which offers mobile maintenance and expanded service hours.
People
Navistar International Corp. has hired Walter G. Borst as executive vice president and CFO. He will succeed Andrew J. (A.J.) Cederoth. . .Orin Black, vice president, Dealer Operations and chief administrative officer for Mitsubishi Fuso Truck of America is retiring. . .Anthony Foxx was sworn in as the nation's 17th Secretary of Transportation by Judge Nathaniel Jones in a private ceremony at the U.S. Department of Transportation headquarters. . .John William Rollins Jr. passed away in his home in Santa Fe, N.M. on July 3, 2013. He was the long-time president and CEO of Rollins Truck Leasing Corp. until his retirement in 2001.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company |
Symbol (Click for Chart) |
07/10 Close |
Performance |
| Allison Transmission Holdings |
ALSN |
$24.50 |
$0.07 |
+0.29% |
| Avis Budget Group Inc. |
CAR |
$32.30 |
$0.61 |
+1.92% |
| Cummins Inc. |
CMI |
$113.70 |
$1.08 |
+0.96% |
| Dana Holding Corp. |
DAN |
$20.59 |
$0.12 |
-0.58% |
| Eaton Corp. |
ETN |
$67.39 |
$0.72 |
-1.06% |
| General Electric |
GE |
$23.54 |
$0.08 |
-0.34% |
| Goodyear Tire & Rubber |
GT |
$16.41 |
$0.01 |
+0.06% |
| Navistar International Corp. |
NAV |
$28.80 |
$0.06 |
+0.21% |
| PACCAR Inc. |
PCAR |
$54.77 |
$0.19 |
-0.35% |
| Ryder |
R |
$60.24 |
$0.45 |
-0.74% |
SOURCE: Yahoo! Finance
Money Matters
The U.S. Department of Transportation's (DOT) Federal Motor Carrier Safety Administration (FMCSA) has announced almost $1 million in new grants to help train veterans and military families for jobs in the transportation industry. The grants were awarded to six colleges across the country as part of the Commercial Motor Vehicle Operator Safety Training grant program.
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News From TRALA
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