Those who own shares of Arkansas trucking companies have even more reason to celebrate the July 4 holiday.
Shares of P.A.M. Transportation Services Inc. (NASDAQ :PTSI) closed Monday at $30.25, up $1.36 and breaking through a 52-week high of $28.96. Shares of the Tontitown-based trucking company have gained 20.3 percent in the past 10 trading days.
Shares of Fort Smith-based Arkansas Best Corp. (NASDAQ: ABFS) closed Monday at $50.57, up 36 cents and also setting a new 52-week high. The share price of the less-than-truckload trucking company is up more than 18 percent since June 1.
Lowell-based J.B. Hunt Transport Services Inc. shares (NASDAQ: JBHT) closed Monday at $25.53, up 62 cents and near a 52-week high of $25.90.
Van Buren-based USA Truck Inc. shares (NASDAQ: USAK) closed Monday at $19.20, up $1.38, or more than 7.7 percent. However, USA Truck shares are on the rebound after falling from a 52-week high of $32.
Industry analyst David G. Ross of Stifel Nicolaus said in a report dated June 28 that the trucking sector has had a good first half of 2006 and now enters its strongest months. Recent optimism from executives within FedEx's freight unit, and positive comments from Arkansas Best and YRC Worldwide Inc. are driving interest in trucking stocks, according to Ross.
Tuesday, July 04, 2006
Monday, July 03, 2006
Global Solidarity Pledged to Support Organizing the Global Supply Chain
The Convention of theInternational Brotherhood of Teamsters unanimously passed a resolution on
"Organizing the Global Supply Chain," representatives from transport unions
in the United Kingdom, Germany, Ireland and Australia joined Teamsters
General President James Hoffa in a show of solidarity and support.
"Teamsters are uniquely positioned to dominate the global supply chain
in the United States. That's why we are aggressively organizing in the air
cargo, ports, rail, freight and parcel delivery links in the chain," Hoffa
said.
The Teamsters Union has the opportunity to combine their strength with
unions around the world to take on the global transportation companies like
UPS, FedEx, TNT and DHL to ensure that the workers who move the goods along
the chain have a voice.
"Workers in Australia deal with the same global companies," said Tony
Sheldon, National Secretary of the Transport Workers Union of Australia.
"We recognize the need for a global collective response and we are proud to
add our voice and our strength to the struggle alongside the Teamsters."
"Our union has a long history with DHL and we understand the stakes
involved for workers in dealing with this changing world economy," said
Rolf Buttner, Federal Executive of Germany's United Services Union, ver.di.
"We must stand together across the globe to make sure that workers'
interests and rights are protected and strengthened."
"Transport workers in Great Britain stand shoulder to shoulder with our
brothers and sisters in the Teamsters," said Steve Turner, National
Secretary for Transport of the Transport and General Workers Union of Great
Britain. "None of us can stand alone in our countries and take on the
global corporations who are changing the face of transport across the
world. We will stand together for workers and for our collective future."
"We are involved in struggles with multi-national companies on a daily
basis. We have received help from and given help to the Teamsters and other
international unions," said Brenden Hayes, Vice President of Ireland's
largest union, Services, Industrial, Professional and Technical Union
(SIPTU). "We recognize that on our own we are easy prey for corporate
vultures. Together we can win for working people. We support your great
union in your struggle."
Sunday, July 02, 2006
Teamsters Convention Closes With Ambitious Plans For Future Growth
The International Brotherhood of Teamsters closed its 27th International Convention today with unprecedented solidarity and determination to embark on the ambitious goals set this week to expand Teamster power.
"We are moving forward together," said Jim Hoffa, Teamsters General President. "We have accomplished so much because we are united like never before and we are stronger than ever before. But there's more to do. We are changing to grow and we will not rest until we have won our fight."
More than 7,000 Teamster delegates, retirees and guests gathered in Las Vegas this week under the banner of "Moving Forward Together" to tackle a range of constitutional and policy issues that set the future course of the 1.4 million-member Teamsters Union.
The week's accomplishments were particularly impressive with the major announcement of a card-check agreement at UPS Freight that will provide a massive boost to the Teamsters organizing efforts at the former Overnight Transportation. Also announced was an agreement by UPS to the Teamsters' demand for early negotiations for the 2008 National Master United Parcel Service Agreement. UPS Teamsters sought early negotiations to ensure protection of their retirement and health care benefits.
Convention delegates ratified a number of resolutions to set priorities for the union, including:
* Building a mighty army of Teamster organizers
* Continuing the successful fight to keep the border closed to unsafe
Mexican trucks
* Organizing the DHL delivery system
* Organizing Quebecor World workers
* Fighting to protect Teamsters' retirement security
* Organizing port drivers
* Organizing Cintas Corp. workers
* Fighting for strong contracts that set industry standards
* Organizing school bus workers
Among the distinguished guests addressing the convention were former U.S. Sen. John Edwards, (D-NC); U.S. Sen. Joe Biden, (D-DE); U.S. Rep. Pete Hoekstra, (R-MI); actor Kiefer Sutherland; radio show host and comedian Al Franken; and actor Danny Glover. The convention also featured Teamster members and workers fighting to become Teamsters.
"We are moving forward together," said Jim Hoffa, Teamsters General President. "We have accomplished so much because we are united like never before and we are stronger than ever before. But there's more to do. We are changing to grow and we will not rest until we have won our fight."
More than 7,000 Teamster delegates, retirees and guests gathered in Las Vegas this week under the banner of "Moving Forward Together" to tackle a range of constitutional and policy issues that set the future course of the 1.4 million-member Teamsters Union.
The week's accomplishments were particularly impressive with the major announcement of a card-check agreement at UPS Freight that will provide a massive boost to the Teamsters organizing efforts at the former Overnight Transportation. Also announced was an agreement by UPS to the Teamsters' demand for early negotiations for the 2008 National Master United Parcel Service Agreement. UPS Teamsters sought early negotiations to ensure protection of their retirement and health care benefits.
Convention delegates ratified a number of resolutions to set priorities for the union, including:
* Building a mighty army of Teamster organizers
* Continuing the successful fight to keep the border closed to unsafe
Mexican trucks
* Organizing the DHL delivery system
* Organizing Quebecor World workers
* Fighting to protect Teamsters' retirement security
* Organizing port drivers
* Organizing Cintas Corp. workers
* Fighting for strong contracts that set industry standards
* Organizing school bus workers
Among the distinguished guests addressing the convention were former U.S. Sen. John Edwards, (D-NC); U.S. Sen. Joe Biden, (D-DE); U.S. Rep. Pete Hoekstra, (R-MI); actor Kiefer Sutherland; radio show host and comedian Al Franken; and actor Danny Glover. The convention also featured Teamster members and workers fighting to become Teamsters.
Sector Snap: Trucking Stocks Rally
Shares of trucking stocks rose briskly Thursday along with the broader market, as investors looked toward an anticipated strong second half for the sector.
Package carrier FedEx Corp. was among the largest gainers, as shares rose $1.66 to $114.63 in midday trading on the New York Stock Exchange. Its chief competitor, UPS Inc., added $1.06 to $82.26 on the Big Board. Among truckers, Arkansas Best Corp. was up $1.42, or 3 percent, to $48.16 on the Nasdaq, and Old Dominion Freight Line Inc. jumped $1.04, or 2.9 percent, to $35.98 on the Nasdaq.
David G. Ross, an analyst with Stifel Nicolaus in Baltimore, said investors in the sector have realized that resilient consumers can offset a slowdown in the housing market.
"What we're seeing today is a sign that people have realized the world isn't coming to an end in the transportation sector, despite all the doom and gloom out there," Ross said.
Ross added that investors are looking back on what was a bright first half for the sector, and know that its strongest months still lie ahead.
"September, October and November are peak months for the industry and capacity will only get tighter," he said, noting that 5 percent to 10 percent of the industry's fleet is parked because of a shortage of qualified drivers. And with consumers still spending more than they earn, capacity constraints could translate into even greater pricing power.
Recent optimism from executives within FedEx's freight unit, and positive earnings preannouncements from Arkansas Best and YRC Worldwide Inc. are also likely driving the sector's activity, he said.
The broader market also provided a boost. In late morning trading the Dow Industrial surged 113.50 points, or 1.03 percent, to 11,087.06. Experts cited better-than-anticipated news that the Gross Domestic Product, perhaps the No. 1 barometer for the economy, zipped ahead in the first quarter at clip of 5.6 percent. Consumer spending, business spending and company profits were also higher in the first quarter versus the fourth quarter of 2005.
Package carrier FedEx Corp. was among the largest gainers, as shares rose $1.66 to $114.63 in midday trading on the New York Stock Exchange. Its chief competitor, UPS Inc., added $1.06 to $82.26 on the Big Board. Among truckers, Arkansas Best Corp. was up $1.42, or 3 percent, to $48.16 on the Nasdaq, and Old Dominion Freight Line Inc. jumped $1.04, or 2.9 percent, to $35.98 on the Nasdaq.
David G. Ross, an analyst with Stifel Nicolaus in Baltimore, said investors in the sector have realized that resilient consumers can offset a slowdown in the housing market.
"What we're seeing today is a sign that people have realized the world isn't coming to an end in the transportation sector, despite all the doom and gloom out there," Ross said.
Ross added that investors are looking back on what was a bright first half for the sector, and know that its strongest months still lie ahead.
"September, October and November are peak months for the industry and capacity will only get tighter," he said, noting that 5 percent to 10 percent of the industry's fleet is parked because of a shortage of qualified drivers. And with consumers still spending more than they earn, capacity constraints could translate into even greater pricing power.
Recent optimism from executives within FedEx's freight unit, and positive earnings preannouncements from Arkansas Best and YRC Worldwide Inc. are also likely driving the sector's activity, he said.
The broader market also provided a boost. In late morning trading the Dow Industrial surged 113.50 points, or 1.03 percent, to 11,087.06. Experts cited better-than-anticipated news that the Gross Domestic Product, perhaps the No. 1 barometer for the economy, zipped ahead in the first quarter at clip of 5.6 percent. Consumer spending, business spending and company profits were also higher in the first quarter versus the fourth quarter of 2005.
VML Launches Redesigned Website for Yellow Racing
VML, a WPP company based in Kansas City, Missouri,and one of the world's leading marketing technology companies, announced today the redesign and launch of Yellow Racing's new website, http://www.teamyellowracing.com/. Yellow Transportation also recently selected VML as the new public relations agency for its NASCAR Busch Series sponsorship. With the full range of marketing services under one roof, VML has created a seamless solution to managing both the public relations and online communications efforts for Yellow Racing. "VML has a firm understanding of our business, technology innovation, and sports management capabilities," said Eric Kenney, Director of Marketing Communications for Yellow. "It was a natural fit to have them design www.teamyellowracing.com, and their promotion of our NASCAR Busch Series sponsorship has enhanced the program."
According to Matt Anthony, VML's CEO, the agency's new relationship with Yellow Racing will allow VML to integrate the NASCAR experience with the Yellow customer experience online. "The most loyal fan base in the world can now experience Yellow Transportation both online and at the event," said Anthony. "On the flip side, Yellow customers will be able to experience the sport like never before."
Since February, VML's Sponsorship and Events group has managed national and local public relations efforts for the Yellow Transportation sponsorship of the #00 NASCAR Busch Series car driven by Johnny Sauter. VML provides strategic planning for both internal and external communications as well as day-to-day public relations management including at-track support for the 2006 NASCAR Busch Series season.
"The results have been very positive," said Kenney. "VML is working closely with our race team, and other partner agencies and media outlets to maximize the positive exposure for Yellow Racing over the rest of the racing season."
YRC Worldwide, the parent company for Yellow Transportation, has been a valued VML client for more than seven years with a successful relationship based on true partnership. "Over the years VML has developed a thorough understanding of the transportation industry, and we're proud to have been part of the team helping to build YRC Worldwide into the most respected company in its industry," said Anthony.
Thursday, June 29, 2006
Card-Check Agreement Boosts Organizing Campaign at Former Overnite
Teamsters General President Jim Hoffa announced today that the union has won a card-check agreement at UPS Freight, providing a major boost to the Teamsters' organizing efforts at the former Overnite Transportation. Union leaders have been pursuing with UPS the negotiation of an organizing agreement since UPS bought Overnite last year.
"We have been working hard on winning UPS Freight workers a strong voice on the job," Hoffa announced at the Teamsters 27th International Convention in Las Vegas. "Our ongoing member mobilization and education drive at UPS Freight helped accelerate this historic victory. UPS Freight workers all over the country are telling UPS and freight members that they want to be Teamsters. Our members in the Parcel and Small Package Division and the Freight Division deserve much of the credit."
"UPS knew that the entire leadership of the union was meeting this week in Las Vegas," said Ken Hall, Director of the Teamsters Parcel and Small Package Division. "They knew that we would either ramp up our campaign or they could come up with an agreement such as this that the union has been seeking."
"For more than a half century workers at Overnite have been trying to form a union," said Teamsters Freight Division Director Tyson Johnson. "We have the upper hand now."
The Teamsters intend to organize one group, negotiate a strong contract and then build on such a victory to organize other terminals.
Meanwhile, UPS has agreed to the Teamsters' demand to early negotiations for the 2008 National Master United Parcel Service Agreement. UPS Teamsters sought early negotiations to ensure protection of their retirement and health care benefits.
"We have been working hard on winning UPS Freight workers a strong voice on the job," Hoffa announced at the Teamsters 27th International Convention in Las Vegas. "Our ongoing member mobilization and education drive at UPS Freight helped accelerate this historic victory. UPS Freight workers all over the country are telling UPS and freight members that they want to be Teamsters. Our members in the Parcel and Small Package Division and the Freight Division deserve much of the credit."
"UPS knew that the entire leadership of the union was meeting this week in Las Vegas," said Ken Hall, Director of the Teamsters Parcel and Small Package Division. "They knew that we would either ramp up our campaign or they could come up with an agreement such as this that the union has been seeking."
"For more than a half century workers at Overnite have been trying to form a union," said Teamsters Freight Division Director Tyson Johnson. "We have the upper hand now."
The Teamsters intend to organize one group, negotiate a strong contract and then build on such a victory to organize other terminals.
Meanwhile, UPS has agreed to the Teamsters' demand to early negotiations for the 2008 National Master United Parcel Service Agreement. UPS Teamsters sought early negotiations to ensure protection of their retirement and health care benefits.
Monday, June 19, 2006
2006 Convention Countdown
More than 7,000 Teamster delegates from across the North America will gather for the 27th International Convention June 26-30 at the Paris Hotel Convention Center in Las Vegas.These delegates, selected by their fellow local union members, are "the supreme governing authority of the International Union," the Teamsters Constitution states. It is these members who have the very important role of shaping the leadership and the direction of the largest democratically elected union in the nation – 1.4 million members strong.
The Convention is held every five years for the purpose of nominating the candidates to the General Executive Board, which includes the offices of General President and General Secretary-Treasurer.
The General Executive Board also consists of 22 regional and at-large vice-presidents, as well as three International trustees.
Voting for these candidates occurs in October and November, when ballots are mailed to all IBT members.
The number of delegates each Local Union can send to the convention is determined by its size.
In addition to selecting candidates for the General Executive Board, the Convention also debates proposed by-law changes to the IBT Constitution and votes on the proposals.
The delegates will also recommend, discuss and vote upon resolutions addressing key issues that are of interest to the membership.
Some notable issues include:
IBT assistance to Hurricane Katrina victims;
New initiatives for more effective and larger scale organizing campaigns;
The Change to Win federation;
Welcoming the Brotherhood of Locomotive Engineers and Trainmen (BLET), the Brotherhood of Maintenance of Way Employes (BMWE) and the Graphic Communications International Union (GCIU) to the IBT; and
Recognizing representative recipients of the James R. Hoffa Memorial Scholarship Award.
The deadline for discounted hotel accommodations has passed but guests may still register to attend the Convention by requesting a registration form from the IBT Travel Department, 202-624-6999. First-come, first-serve accommodations may still be available. While accommodations can no longer be guaranteed, registration is required.
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