Overnite introduces new name: UPS Freight

Overnite Transportation said goodbye to its name and colors yesterday, but not without a tip of the hat to the company's founder.

J. Harwood Cochrane, who started Overnite in 1935, was honored at a brief celebration marking the first day operating as UPS Freight

"This man had a vision unequalled in the transportation business," said Leo Suggs, president of UPS Freight, who was president and CEO of Overnite. "We owe him more than we can ever describe."

Hundreds of employees gathered outside the company's headquarters in South Richmond and whooped and applauded the 93-year-old Cochrane.

"I'm glad to be back where I spent many years," said the white-haired retired executive. "I want you to know I'm still on the payroll, and I'm still proud of our retirement fund."

Cochrane, known as one of the area's top philanthropists, briefly talked about his father's blue-collar roots and his own modest beginning.

While noting a respect for education, Cochrane said: "Around here we promoted people for their work ethic. Flexibility meant more than degrees," especially "if you could drive a truck in a pinch."

Cochrane led Overnite for more than 50 years until Union Pacific paid him and other shareholders $1.2 billion to buy it in 1986. In 2003, Union Pacific spun off Overnite, and it became a stand-alone, publicly traded company once again. Atlanta-based UPS bought Overnite for $1.25 billion last year. It was UPS' largest single acquisition, giving the package-delivery company a way to move heavy freight.




The new owner "marks but another chapter in a long history of success in the trucking industry," Suggs told employees. Having a link to UPS is vital for growth because "it's pretty obvious that successful transportation companies of the future will have a global presence," he said.

UPS Freight operates as a separate division but benefits from UPS' advanced technology, marketing and sales, Suggs said.

Overnite drivers will be trained to use UPS' hand-held computers that track deliveries.

UPS Freight has a new logo and colors blending Overnite's gray with UPS' brown.

"It's a little sad to see the name change," Suggs said, "but it's not the name on the side of the trucks that made us successful. It's the people of this organization."