EnRoute
Headlines From The Vehicle Renting and Leasing Industry
Wednesday, May 7, 2008
Top Stories
Pending local and regional government approval, Los Angeles, California and Chicago, Illinois, could receive federal congestion grant dollars, some of which had been previously been targeted to New York City before the NYC Legislature failed to approve a plan. FULL STORY
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Senator Olympia Snowe (R-ME) has introduced a bill, The Diesel Tax Parity Act, which would lower the diesel tax to 18.3 cents a gallon, from 24.3 cents, making it the same as the federal tax on gasoline. FULL STORY
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Truck owners and other interested parties are being asked to participate in a series of workshops being held by the California Air Resources Board (CARB), to discuss the proposed regulation to reduce emissions from existing heavy-duty diesel-fueled trucks, buses, and other vehicles operating in California. FULL STORY
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This summer, the U.S. Environmental Protection Agency (EPA) will begin testing heavy- and medium-duty trucks for fuel efficiency in an effort to measure performance of different kinds of vehicles. FULL STORY
Technology Trends
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PeopleNet and J.J. Keller Consulting Services have formed the PeopleNet/J.J. Keller Safety Program, in which PeopleNet will help fleets use eDriver Logs to enhance load planning and dispatch and J.J. Keller will work with fleets to build safety programs from the ground up. FULL STORY
Peterbilt has introduced a new Model 388 low-profile configuration tractor which features a lower cab height to allow for the aftermarket installation of an over-the-cab carrier body, which maximizes the number of vehicles hauled and allows customers to haul larger vehicles above the cab. FULL STORY
Potential buyers now can compute the estimated return on investment for hybrid vehicles with Eaton Corp.’s customer value calculator for hybrid power systems. FULL STORY
COMPOSILITE RO is Hendrickson Auxiliary Axle Systems’ new lift axle model for Class 8 roll-off vehicles which fits flat to the frame for maximum clearance from cylinder beams, attachments and sliding components. FULL STORY
Briefly
Penske Truck Leasing Co., partnered with International Truck and Engine Corporation and Eaton Corporation to utilize state-of-the-art hybrid commercial rental trucks as part of the annual NBC “Today Show” Lend a Hand series, which was held April 14-18. This was the fourth consecutive year Penske has donated to the effort 26-foot consumer box trucks. . .Belshe Industries, Inc. has announced it will make several Bendix wheel end products – foundation drum brakes, ASA-5 automatic slack adjusters and SB-4 combination spring brakes – standard on its trailers. . .Ryder System, Inc. has received the General Motors 2007 Supplier of the Year award. . .Four Michelin North America Inc. United States plants have been recognized for safety achievements by the Rubber Manufacturers Association. . .Daimler AG and India’s Hero Group will invest about $1.1 billion in the next five years as Daimler seeks to expand in India. Daimler Hero Motor Corp., as the venture will be known, will begin making trucks under a new brand name by 2010 with export production to follow. . . Thrifty Car Rental, a subsidiary of Dollar Thrifty Automotive Group, Inc., received a 2008 Business Travel Award from Entrepreneur Magazine for “Best Car Rental Value”. . .Fontaine International has issued an advisory to warn customers about potential hazards from using non-genuine components, specifically the movable locking jaw and wedge, on their Fontaine No-Slack line of fifth wheels. For more information visit www.fifthwheel.com/ffw. . .Stemco has completed construction and announced the grand opening of its China manufacturing facility located in Suzhou, China. . .W. Marvin Rush, chairman of Rush Enterprises located in New Braunfels, Texas, won the Truck Dealer of the Year Award, sponsored jointly by Heavy Duty Trucking and the American Truck Dealers (ATD) division of the National Automobile Dealers Association. . .For the eighth consecutive year, Avis Budget Group, Inc., has been named one of America’s Top Corporations for Women’s Business Enterprises by the Women’s Business Enterprise National Council (WBENC). . .Great Dane Trailers has selected Haldex Commercial Vehicle Systems Gold Seal actuators as a standard product offering on its trailers.
People on the Move
Paul Williams has been named executive vice president of commercial vehicle tires for the Americas for Continental North America. . .Donaldson Company has announced that William I. Vann, vice president of NAFTA operations, Mexico and Latin America, will retire at the end of fiscal 2008 and Lowell F. Schwab will become senior vice president of global operations, Mexico and Latin America; Jay L. Ward has been promoted to senior vice president of engine systems and parts; and Tod E. Carpenter will become vice president for Europe and the Middle East. . .Nirmal Tolani has been appointed director of business development of Hendrickson International Operations and John Parr has been named vice president of international business development for Hendrickson. . .Fontaine International has named Emma Thompson vice president of finance and Paige Dahlke has been named controller for Fontaine Parts Connection.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company | Symbol (Click for Chart) |
05/07 Close | Two Week Performance | |
|---|---|---|---|---|
| ArvinMeritor | ARM | $16.22 | $0.36 | 2.17% |
| Avis Budget Group Inc. | CAR | $13.00 | $0.67 | 4.90% |
| Caterpillar Inc. | CAT | $81.63 | $1.60 | 1.92% |
| Cummins Inc. | CMI | $68.06 | $1.37 | 1.97% |
| Dana | DAN | $11.41 | $0.27 | 2.31% |
| Eaton | ETN | $85.80 | $2.27 | 2.58% |
| General Electric | GE | $32.57 | $0.43 | 1.30% |
| Goodyear Tire & Rubber | GT | $28.40 | $0.17 | 0.60% |
| PACCAR Inc. | PCAR | $47.57 | $2.23 | 4.48% |
| Ryder | R | $70.65 | $0.84 | 1.17% |
SOURCE: Yahoo! Finance and bigcharts.com
Money Matters
Goodyear Tire & Rubber Company posted a record first quarter net income of $147 million on net sales compared to a net loss of $174 million for the same period last year. FULL STORY
Ryder System, Inc. reported its 2008 first-quarter net earnings were $56.1 million, up 9 percent from $51.3 million a year earlier. FULL STORY
Cummins Inc. reported their first quarter net income jumped 33 percent to $190 million, up from $143 million a year ago. FULL STORY
March 2008 was a record month for Hino Trucks who posted retail sales of 900 units and achieving 15 percent market share in the Class 6 market segment and 3 percent market share in the Class 7 market. FULL STORY
News From TRALA
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