A court’s decision to let the current hours-of-service rules stand for just 90 more days supports the recommendations of safety groups determined to protect drivers and passengers alike on the nation’s highways.
Friday’s ruling by the U.S. Court of Appeals for the D.C. Circuit is the latest twist in a long-running case in which Public Citizen, the International Brotherhood of Teamsters, Advocates for Highway and Auto Safety, and other groups are challenging the unsafe and unhealthy hours-of-service rule that the federal government first adopted in 2003.
The court struck down the 2003 regulation, then struck down a 2005 rule that mirrored the one the court had found untenable. That rule raised the consecutive driving limit from 10 hours to 11 hours and added a 34-hour restart provision that allows drivers to significantly increase both their weekly driving and on-duty hours. Studies show that fatigued drivers are more likely to crash. The last thing we need is more tired truckers on the roads.
When striking down the 2005 rule this past July, the court said that the Federal Motor Carrier Safety Administration’s (FMCSA) reliance on a new fatigue model without first providing notice and the opportunity for public comment was improper. The court also faulted the agency for the way it treated the risk increase associated with 11 straight hours of driving, as well as for failing to deal with the added cumulative fatigue the 34-hour restart rule would cause by allowing more hours of driving per week.
On Sept. 6, the American Trucking Associations asked the court to let the unsafe and unhealthy rules stay in effect for eight months to give the government time to rewrite them; FMCSA asked for a year. We opposed any delay but argued that if there was one, it should be no more than 90 days, which the court agreed with.
The agency should use the time to oversee the transition to pre-2003 driving limits rather than continuing to insist on an hours-of-service scheme that endangers truck drivers and motorists.
Tuesday, October 02, 2007
YRC Worldwide Provides Update on Recent Action With the Central States Plan
YRC Worldwide Inc. is providing the following update regarding the participation of several of its subsidiaries in the Central States Southeast and Southwest Areas Pension Plan (the Central States Plan).
United Parcel Service, Inc. (UPS) issued a press release on October 1, 2007 stating that UPS has reached a new tentative labor agreement with the International Brotherhood of Teamsters for unionized employees engaged in UPS' package business. UPS stated that in its new labor agreement with the Teamsters, UPS has agreed to withdraw from the Central States Plan and make a cash payment of $6.1 billion to the plan. UPS is a major participant in this multi-employer pension plan in addition to certain YRC Worldwide subsidiaries and over 3,000 other employers. This new labor agreement would be effective upon the affected UPS Teamster employees ratifying the agreement.
YRC Worldwide believes that the funded percentage of the Central States Plan is currently approximately 50%. If the new UPS labor agreement is ratified and UPS makes its contractually agreed withdrawal payment to the Central States Plan, YRC Worldwide believes that the funded percentage of the Central States Plan would be approximately 70%.
"Due to the likely improvement in the funded status of the Central States Plan, coupled with prudent actions that plan trustees have previously taken and the implementation of the Pension Protection Act of 2006, our overall risk associated with contingent pension obligations is reduced," stated Bill Zollars, Chairman, President and CEO of YRC Worldwide.
United Parcel Service, Inc. (UPS) issued a press release on October 1, 2007 stating that UPS has reached a new tentative labor agreement with the International Brotherhood of Teamsters for unionized employees engaged in UPS' package business. UPS stated that in its new labor agreement with the Teamsters, UPS has agreed to withdraw from the Central States Plan and make a cash payment of $6.1 billion to the plan. UPS is a major participant in this multi-employer pension plan in addition to certain YRC Worldwide subsidiaries and over 3,000 other employers. This new labor agreement would be effective upon the affected UPS Teamster employees ratifying the agreement.
YRC Worldwide believes that the funded percentage of the Central States Plan is currently approximately 50%. If the new UPS labor agreement is ratified and UPS makes its contractually agreed withdrawal payment to the Central States Plan, YRC Worldwide believes that the funded percentage of the Central States Plan would be approximately 70%.
"Due to the likely improvement in the funded status of the Central States Plan, coupled with prudent actions that plan trustees have previously taken and the implementation of the Pension Protection Act of 2006, our overall risk associated with contingent pension obligations is reduced," stated Bill Zollars, Chairman, President and CEO of YRC Worldwide.
Monday, October 01, 2007
Burger: Teamsters Leading the Way for Working People
Following is a statement from Anna Burger, Chair of Change to Win, on the Teamsters Agreement with United Parcel Service.
“On behalf of the Change to Win unions, I want to congratulate the Teamsters Union and its more than 200,000 members at United Parcel Service (UPS) on the negotiation of a new tentative master agreement with UPS and its historic agreement with UPS Freight in Indianapolis, a unit of the former Overnite.
“In an era of all out assault on working people's wages, health and pension benefits, the members will receive dramatic increases in wages, health and pension benefit contributions.
“At the same time, the Teamsters were able to negotiate an historic neutrality and card check agreement covering the 15,000 drivers at UPS Freight pending approval of the national UPS agreement. UPS Freight, formerly Overnite has been a nonunion target of the IBT and all labor for decades. This agreement is a victory for all working people.
“Change to Win is proud of the Teamsters union. Through its unity, the Teamsters have once again led the way for working people.”
“On behalf of the Change to Win unions, I want to congratulate the Teamsters Union and its more than 200,000 members at United Parcel Service (UPS) on the negotiation of a new tentative master agreement with UPS and its historic agreement with UPS Freight in Indianapolis, a unit of the former Overnite.
“In an era of all out assault on working people's wages, health and pension benefits, the members will receive dramatic increases in wages, health and pension benefit contributions.
“At the same time, the Teamsters were able to negotiate an historic neutrality and card check agreement covering the 15,000 drivers at UPS Freight pending approval of the national UPS agreement. UPS Freight, formerly Overnite has been a nonunion target of the IBT and all labor for decades. This agreement is a victory for all working people.
“Change to Win is proud of the Teamsters union. Through its unity, the Teamsters have once again led the way for working people.”
Teamsters, UPS Reach Tentative Agreement at UPS Freight in Indianapolis
The Teamsters Union and UPS Freight (formerly Overnite Transportation) reached a tentative agreement for their first contract ever, an agreement that will improve wages and benefits and will serve as a national model to organize thousands of other company employees nationwide, Teamsters General President Jim Hoffa announced today.
The contract, which covers 125 drivers and dockworkers in Indianapolis, will also provide employees the protections of a grievance procedure to fight unfair management decisions, something workers have fought hard to achieve.
"For more than five decades, the workers at UPS Freight and its predecessor, Overnite Transportation, have fought for Teamster representation," Hoffa said. "Today is historic because an agreement has been reached for a contract that will finally give workers a strong say on the job and the protections our other freight members have. A half-century battle is coming to an end, and we have gained strong momentum to organize throughout the freight industry, and FedEx Freight is next."
The workers, who are members of Local 135 in Indianapolis, expressed relief about the tentative contract.
"I hope our coworkers at UPS Freight across the country will join us by forming a union with the Teamsters," said Jesse Nicholson, a road driver and 20-year employee. "Being a Teamster means protections, support and being part of an organization that fights for you."
"Now our protections and rights will be spelled out and guaranteed in a Teamster contract," said Neal Hylton, a hostler and 21-year employee.
"Having an agreement is a big relief," said Dave Osborn, a city driver and 24-year employee. "We've wanted it for so long and worked so hard to achieve it."
The contract, which covers 125 drivers and dockworkers in Indianapolis, will also provide employees the protections of a grievance procedure to fight unfair management decisions, something workers have fought hard to achieve.
"For more than five decades, the workers at UPS Freight and its predecessor, Overnite Transportation, have fought for Teamster representation," Hoffa said. "Today is historic because an agreement has been reached for a contract that will finally give workers a strong say on the job and the protections our other freight members have. A half-century battle is coming to an end, and we have gained strong momentum to organize throughout the freight industry, and FedEx Freight is next."
The workers, who are members of Local 135 in Indianapolis, expressed relief about the tentative contract.
"I hope our coworkers at UPS Freight across the country will join us by forming a union with the Teamsters," said Jesse Nicholson, a road driver and 20-year employee. "Being a Teamster means protections, support and being part of an organization that fights for you."
"Now our protections and rights will be spelled out and guaranteed in a Teamster contract," said Neal Hylton, a hostler and 21-year employee.
"Having an agreement is a big relief," said Dave Osborn, a city driver and 24-year employee. "We've wanted it for so long and worked so hard to achieve it."
Thursday, September 27, 2007
Change to Win federation sets plans for politics, organizing
The Change to Win federation set future plans for strategic organizing campaigns and approved a 10-cent-per-capita assessment for politics for the 2007-2008 election cycle, CTW Chair Anna Burger said.
In a press conference Tuesday after the federation's day-and-a-half convention in Chicago closed, Burger also said CTW's Strategic Organizing Center would step up its services to the member unions, training organizers, coordinating campaigns and marshaling financial resources, among other things.
But the political assessment was a new move, given CTW's prior emphasis on organizing, rather than politics--the point which led seven unions to split from the AFL-CIO in 2005. The seven – Carpenters, Laborers, Service Employees Teamsters, United Farm Workers, United Food & Commercial Workers and UNITE HERE -- felt the older labor federation put too much emphasis, relatively, on politics.
The new emphasis means in some states, CTW is setting up its own statewide political/organizing operations, while in others its unions' locals signed "Solidarity Charters" with AFL-CIO state federations and central labor councils for joint operations.
"In some of these states, the AFL-CIO operation"--the state fed or CLC--"is our operation," Burger stated. She singled out New York, Nevada and California. As for the Solidarity Charters in general, she added: "Wherever locals want to work together they can, and where they don't want to, they won't. Full story here......
In a press conference Tuesday after the federation's day-and-a-half convention in Chicago closed, Burger also said CTW's Strategic Organizing Center would step up its services to the member unions, training organizers, coordinating campaigns and marshaling financial resources, among other things.
But the political assessment was a new move, given CTW's prior emphasis on organizing, rather than politics--the point which led seven unions to split from the AFL-CIO in 2005. The seven – Carpenters, Laborers, Service Employees Teamsters, United Farm Workers, United Food & Commercial Workers and UNITE HERE -- felt the older labor federation put too much emphasis, relatively, on politics.
The new emphasis means in some states, CTW is setting up its own statewide political/organizing operations, while in others its unions' locals signed "Solidarity Charters" with AFL-CIO state federations and central labor councils for joint operations.
"In some of these states, the AFL-CIO operation"--the state fed or CLC--"is our operation," Burger stated. She singled out New York, Nevada and California. As for the Solidarity Charters in general, she added: "Wherever locals want to work together they can, and where they don't want to, they won't. Full story here......
D.Post not interested in YRC Worldwide
Deutsche Post has no interest in North American trucking company YRC Worldwide, a financial source said on Wednesday.
"There is absolutely nothing to it," the source told Reuters.
Earlier, Deutsche Post had responded to a report that it was was interested in the company.
In a statement Deutsche Post had said: "Deutsche Post World Net has neither in word nor in writing made any statements or comments as regards to this company."
Deutsche Post shares were 0.4 percent lower at 20.17 euros ($28.40) at 0914 GMT.
"There is absolutely nothing to it," the source told Reuters.
Earlier, Deutsche Post had responded to a report that it was was interested in the company.
In a statement Deutsche Post had said: "Deutsche Post World Net has neither in word nor in writing made any statements or comments as regards to this company."
Deutsche Post shares were 0.4 percent lower at 20.17 euros ($28.40) at 0914 GMT.
Tuesday, September 25, 2007
YRC shrs rise, options surge on takeover talk
YRC Worldwide Inc's shares rose as much as 8.7 percent and its options volumes surged on Tuesday on talk the U.S. trucking company was a takeover target.
YRC shares are up on speculation that German mail and logistics group Deutsche Post AG has made a $41 bid for North America's largest trucking company, said Paul Foster, options strategist at Web information site theflyonthewall.com in Chicago.
A YRC spokeswoman said the Overland Park, Kansas-based company does not comment on rumor and speculation.
Talk of Deutsche Post's interest in Christian Salvesen Plc also was helping boost the shares of the British logistics group, which said Tuesday it had received bid approaches from two parties.
Deutsche Post was not immediately available to comment, but earlier had declined to address the reports on the British firm. The company said in April it might make further acquisitions.
YRC has been the subject of takeover speculation earlier this year.
"The strength in YRC Worldwide shares is being attributed to renewed takeover chatter," said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York.
"In the past, there has been talk that more consolidation will occur in this industry," he added.
The U.S. trucking sector has been languishing for the last 12 months, as retailers scaled back inventory and the U.S. economy slowed. The term "freight recession" is one that has been used frequently in the industry this year.
This year, continued economic softness -- and anemic consumer sales -- pose a direct threat to freight volumes. Trucking companies also invested heavily in new trucks in 2006 to avoid tough new emission standards this year, leading to over-capacity and lower prices.
The speculation also spurred an increase in upside call activity as 24,358 calls compared to 3,834 puts traded in YRC early in the session, according to market research firm Track Data, indicating some investors expected further strength in the stock.
The October call options giving the right to buy YRC shares at $30 and $35 apiece were the busiest series with volume of 7,245 and 9,185 contracts respectively.
The premiums for those calls were elevated. The October $30 calls last traded at $1.40 a contract and the October $35 calls fetched 45 cents a contract.
Foster noted YRC's October option implied volatility, a measure of the expected magnitude of share price movements, shot up to 45 percent, above its 26-week average of 34, according to Track Data. That suggests greater risk of price swings, he said.
YRC's stock rose as high as $30.20 and was still up $2.06, or 6.7 percent, at $29.66 in midday trading on the Nasdaq.
YRC shares are up on speculation that German mail and logistics group Deutsche Post AG has made a $41 bid for North America's largest trucking company, said Paul Foster, options strategist at Web information site theflyonthewall.com in Chicago.
A YRC spokeswoman said the Overland Park, Kansas-based company does not comment on rumor and speculation.
Talk of Deutsche Post's interest in Christian Salvesen Plc also was helping boost the shares of the British logistics group, which said Tuesday it had received bid approaches from two parties.
Deutsche Post was not immediately available to comment, but earlier had declined to address the reports on the British firm. The company said in April it might make further acquisitions.
YRC has been the subject of takeover speculation earlier this year.
"The strength in YRC Worldwide shares is being attributed to renewed takeover chatter," said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York.
"In the past, there has been talk that more consolidation will occur in this industry," he added.
The U.S. trucking sector has been languishing for the last 12 months, as retailers scaled back inventory and the U.S. economy slowed. The term "freight recession" is one that has been used frequently in the industry this year.
This year, continued economic softness -- and anemic consumer sales -- pose a direct threat to freight volumes. Trucking companies also invested heavily in new trucks in 2006 to avoid tough new emission standards this year, leading to over-capacity and lower prices.
The speculation also spurred an increase in upside call activity as 24,358 calls compared to 3,834 puts traded in YRC early in the session, according to market research firm Track Data, indicating some investors expected further strength in the stock.
The October call options giving the right to buy YRC shares at $30 and $35 apiece were the busiest series with volume of 7,245 and 9,185 contracts respectively.
The premiums for those calls were elevated. The October $30 calls last traded at $1.40 a contract and the October $35 calls fetched 45 cents a contract.
Foster noted YRC's October option implied volatility, a measure of the expected magnitude of share price movements, shot up to 45 percent, above its 26-week average of 34, according to Track Data. That suggests greater risk of price swings, he said.
YRC's stock rose as high as $30.20 and was still up $2.06, or 6.7 percent, at $29.66 in midday trading on the Nasdaq.
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