Friday, September 21, 2007

New Hours-of-Service Ruling Delayed

Due to legal actions taken by the American Trucking Association (ATA) and the Owner Operator Independent Drivers Association (OOIDA), the mandate to reduce the number of driving hours per day from 11 hours to 10 hours and to eliminate the 34-hour restart provision has been delayed.

On July 24, the U.S. Court of Appeals for the D.C. Circuit threw out the Federal Motor Carrier Safety Administration’s (FMCSA) rules, which were put in place in 2003, allowing truck drivers to spend 11 hours behind the wheel and to restart their weekly clock after 34 hours rest.

The Teamsters, along with highway safety groups, challenged the rules in court.

It is the union's understanding that there will be no changes to the hours-of-service regulation until the court issues a final decision on the ATA and OOIDA actions.

The Teamsters will continue to fight any attempt by FMCSA to restore the 11-hour rule and the 34-hour restart provision and will keep you apprised of this matter as it further develops.

Wednesday, September 19, 2007

YRC Regional Transportation Appoints COO

YRC Regional Transportation, a subsidiary of trucking company YRC Worldwide Inc., said Wednesday that Keith Lovetro has been named senior vice president and chief operating officer.

Previously, Lovetro was executive vice president of marketing for DHL Express' U.S. operations. He has also served as the president and chief executive of FedEx Freight West in San Jose, Calif.

YRC Worldwide shares gained 19 cents to $29.31 in morning trading.

Freight Local Union Leaders Endorse Contract Proposals

National Master Freight Agreement Negotiations Move Forward

On September 13, leaders from freight local unions from across the United States unanimously endorsed the contract proposals that will be submitted as part of the 2008 National Master Freight Agreement (NMFA) negotiations.

The leaders met in Chicago, where National Freight Division Director Tyson Johnson and Assistant Director Gordon Sweeton presented the proposals to local leaders.

The contract proposals will be presented to company representatives when the two sides meet in November.

Corporate chiefs welcome Fed rate cut

The leaders of U.S. companies welcomed the Federal Reserve's move to slash interest rates Tuesday, but one questioned whether it would be enough to revive a faltering economy.

"It will probably stop the bleeding, but the question is whether it will provide the impetus the economy needs," said Bill Zollars, chief executive of YRC Worldwide Inc., North America's largest trucking company.

"Unless we see a dramatic change, I believe we're going to need more (interest rate) cuts."

The Fed's half-percentage-point cut of benchmark rates met the most aggressive expectations on Wall Street as U.S. business struggles with a housing slump, ebbing consumer confidence and turmoil in the debt and equity markets.

CEOs from a range of sectors applauded.

"The more confidence that's coming from them (the Fed), the better. Any of that is good news right now," said James Hyatt, CEO of sandwich shop chain Cosi. "Any time they are getting involved, that's favorable to all of us who are running businesses and trying to chase consumers."

Recreational vehicle company Winnebago Industries also backed the Fed cut.

"Glad to see they dropped it half a percent," said Bruce Hertzke, CEO of the No. 1 U.S. motor home maker. "Think that'll help our business and the economy a little bit more. Should hopefully get things rolling again."

The National Association of Manufacturers, a lobby group for U.S. producers, unequivocally welcomed the cut.

"By lowering interest rates and reducing the cost of capital, today's decision will help boost business investment and keep the expansion on track," said the association's chief economist David Huether. "This is especially good news for durable goods manufacturers who produce capital goods."

Tuesday, September 18, 2007

ABF Earns Listing on the InformationWeek 500

ABF Freight System, Inc., has been cited as an innovator in information technology (IT) by InformationWeek magazine, which lists ABF on the 2007 InformationWeek 500. This marks the second consecutive year ABF has earned a place on the annual listing.

"By collaborating with our customers, ABF has developed the best shipping tools in the transportation industry. We are proud to see our efforts again validated by this recognition for IT innovation," says ABF President and Chief Executive Officer Bob Davidson. "ABF customers expect time-saving and money-saving applications and we have consistently met their needs by developing innovative, user-centric logistics management tools."

For nearly 20 years InformationWeek has identified and honored the nation's most innovative users of information technology with its annual listing. The list is unique among corporate rankings because it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.

"The InformationWeek 500 honors today's leading companies who set the benchmark for business technology strategies and projects," said John Siefert, InformationWeek vice president and publisher. "The companies on our list are some of the most innovative users of technology."