Teamsters bless YRC's exit from short-haul business
March 21, 2012: The Teamsters union has agreed to allow YRC Worldwide Inc. to proceed with a realignment of its less-than-truckload operations that will allow the carrier to effectively exit the shorter-haul delivery business. In a memo dated March 16, Gordon Sweeton, a Teamsters international vice president overseeing the union's response to YRC's proposed change of operations, said the Overland Park, Kan.-based carrier could implement the change as soon as April 8. A YRC spokeswoman...
UPS to buy TNT Express
March 19, 2012: United Parcel Service Inc. said Monday it has agreed to buy TNT Express NV for $6.77 billion (€5.16 billion) in a deal supported by TNT's boards. UPS's cash offer of €9.5 ($12.51) per share for TNT — Europe's second-largest express delivery company behind DHL — comes a month after TNT management turned down a €9 per share offer. The companies remained in talks, assisted by a strengthening dollar. Click here to read...
NY Times: Don't Cut Pensions, Expand Them
March 16, 2012: On Thursday morning the New York State Legislature agreed to a deal limiting pensions for future public employees. The state thus joins 43 others that have recently enacted legislation curtailing public retirement benefits. Though New York needs to reduce its spending, the cuts come at a particularly bad time: over a third of New York workers, both public and private, approaching retirement age have less than $10,000 in liquid assets. As a...
DHL to Spend $47 Million to Expand U.S. Hub
March 16, 2012: DHL Express said it will spend $47 million to upgrade its U.S. package express and cargo sorting facility and capability at the Cincinnati area airport. The expansion, announced Wednesday, will consist of a new 193,000 square foot facility to handle packages and cargo, which is expected to create about 280 new jobs. The new facility is expected to be open in November. Click here to read more at Transport Topics.
JOC: Top Trucking Firms Expand Market Share
March 12, 2012: Market share of 10 biggest LTL truckers rose from 68 to 73 percent. The biggest less-than-truckload carriers got bigger in 2011, with the number of LTL companies with more than $1 billion in annual revenue climbing to 10. Regional carrier Saia joined the LTL “billion-dollar club,” increasing sales 14.1 percent in 2011 to $1.03 billion, according to a study by SJ Consulting Group. The 10 largest LTL carriers increased their revenue 17...
US Freight Trucking Group YRC Sells Chinese Logistics Interest
Acquisition Policy Reversed as Times Get ToughMarch 11, 2012: Following our story last month concerning the rebranding of YRC Worldwide, the trucking and logistics group, which incorporates subsidiary YRC Freight, has, as predicted, continued its disposal of assets with the sale of the groups interest in Shanghai Jiayu Logistics Co., Ltd. to its 35-percent joint venture partner. YRC bought its 65% stake in the company in 2008 after a period stretching back several years when...
Wall Street Journal: UPS-TNT Talks Hit a Bump
March 8, 2012: United Parcel Service Inc.'s talks to take over Dutch rival TNT Express NV have slowed as a result of friction between the two package-shipping companies over a range of issues, according to people familiar with the matter. Though the people expressed hope that the two sides will still reach a deal, they are unlikely to do so this week, and the talks could drag on beyond the following week as well. Read...
Safety Advocates File Lawsuit Challenging Revised HOS Rule
February 24, 2012: Highway safety advocates filed a lawsuit Friday challenging the hours-of-service rule published in December, saying it does not go far enough in addressing driver fatigue. Advocates for Highway and Auto Safety, Public Citizen and the Truck Safety Coalition — along two truck drivers — take issue with the Federal Motor Carrier Safety Administration’s decision to keep 11 hours in the driving day and continue to allow the 34-hour restart to reset the...
UPS Makes Grab for Europe Rival
February 20, 2012: United Parcel Service Inc. launched a bold bet to expand in Europe with an unsolicited bid worth about $6.4 billion for Dutch package shipper TNT Express NV, which UPS and rival FedEx Corp. have long coveted. TNT is the smallest of the big four global shippers that dominate flying time-sensitive documents, consumer electronics and industrial parts between far-flung manufacturers and consumers. U.S.-based UPS and FedEx have viewed the company as a means...
YRC Freight change of operations plan is on hold
February 16, 2012: Earlier this month, YRC Freight, the recently re-named largest subsidiary of less-than-truckload (LTL) transportation services provider YRC Worldwide (YRCW) rolled out its plans to designate and streamline the company’s efficiency. The company’s plan, which focused on making changes in order for the YRC Freight network more fluid, indicated that YRCW wanted to implement them by April. But these proposed changes are contingent on getting Teamsters approval, which is proving to be a...