Shareholders of Daimler AG agreed to realign the company by spinning off its truck and bus unit by the end of the year to form Daimler Truck Holding AG, which will be publicly traded on the Frankfurt Stock Exchange. Daimler AG will be renamed Mercedes-Benz Group AG effective Feb. 1. Daimler generates about $48.8 billion in revenue and sells more than half a million trucks and buses in a typical year.
Otros episodios de "Transport Topics"
Transport Topics (October 22, 2021)
2:18In a letter signed by 160 Republicans from the U.S. House of Representatives, some lawmakers are pointing at President Biden and his senior team as one of the culprits for the slowdowns at commercial seaports, and the steady spike in the cost of consumer products. In the letter, House Republicans, such as Transportation and Infrastructure Committee ranking member Rep. Sam Graves of Missouri, and Minority Leader Kevin McCarthy of California, stated that unless the administration reverses course and takes immediate action, not only will the upcoming holiday season be imperiled, but will also result in long-term economic damage.
Transport Topics (October 21, 2021)
2:20Meera Joshi, President Joe Biden’s nominee to lead the Federal Motor Carrier Safety Administration, was approved by the Senate Commerce Committee by a vote of 22 to 6. The Senate Commerce Committee oversees trucking and freight policy. If confirmed on the floor of the U.S. Senate, Joshi would go from deputy administrator to confirmed administrator. In a separate area of transportation nominations, it was announced by the White House that Steven Cliff has been nominated to lead the National Highway Safety Administration. Cliff is currently the deputy administrator of the agency and recently served at the California Air Resources Board.
Transport Topics (Oct. 20, 2021)
2:13Truck tonnage hit a 2021 high in September, increasing both on a sequential basis and year-over-year. The American Trucking Associations For-Hire Truck Tonnage Index reached 112.9, marking a 1.7% increase over year-ago levels, and up 2.4% compared with August. ATA Chief Economist Bob Costello said, “It is good that tonnage rose in September, but it is important to note that this is happening because each truck is hauling more, not from an increase in the amount of equipment operated.”
Transport Topics (Oct. 19, 2021)
2:35The price of diesel continues to climb by leaps and bounds, with another 8.5-cent increase this week pushing the national average for a gallon of trucking’s main fuel to $3.671. That’s an increase of 26.5 cents a gallon just over the past three weeks. Diesel is $1.28 more than it was a year ago.
Transport Topics (Oct. 18, 2021)
1:51J.B. Hunt Transport Services experienced both revenue and net income growth during the third quarter of 2021, the company reported Friday. The carrier posted net earnings of $199.8 million for the three months ending Sept. 30, and total operating revenue of $3.14 billion. All segments contributed double-digit revenue growth versus the prior year period.
Transport Topics (Oct. 15, 2021)
2:42As Democrats craft a multitrillion-dollar budget package, Republican transportation leaders have ramped up their criticism of congressional leaders and the Biden administration. Senior Democrats in the Senate are insisting climate change-centric proposals be included in the final budget reconciliation bill. Ed Markey of Massachusetts and Chris Coons of Delaware are among the lawmakers pushing for adoption of a civilian climate corps, proposals designed to phase out fossil-fuel tax breaks and enhancing freight corridors’ resilience to severe weather events. But Sam Graves, a Missouri Republican and the Transportation and Infrastructure Committee ranking member, said, “The policies of the president and his party’s leaders in Congress are exacerbating or ignoring the underlying supply chain issues.”
Transport Topics (Oct. 14, 2021)
1:58Fixing the broken supply chain will take time and patience, substantial amounts of money, imagination by key leaders in the transportation and logistics industry, and significant policy changes. Those are the conclusions of experts closely watching the upcoming holiday shopping season, but, as they said, the rush to buy items amplifies how stretched the system is. “What we have is a storm within a storm,” University of Houston Logistics Professor Margaret Kidd told Transport Topics.
Transport Topics (Oct. 13, 2021)
1:58Members of the House of Representatives last night pushed through a short-term increase to the nation’s debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy. The $480 billion increase in the country’s borrowing ceiling cleared the Senate last week on a party-line vote. The House approved it 219-206, so President Joe Biden can sign it into law this week.
Transport Topics (Oct. 11-12, 2021)
1:59XPO Logistics has named its chief information officer, Mario Harik, to run its less-than-truckload division in an acting capacity. Harik is replacing Tony Brooks, 59, who is retiring. The change takes effect immediately, although Brooks will stay on for an undetermined period of time to assist Harik with the transition. Harik will continue in his role as XPO’s CIO, a position he has held since XPO was founded 10 years ago by CEO Brad Jacobs.
Transport Topics (Oct. 8, 2021)
2:39Mergers and acquisitions in the trucking industry are heating up as buyers and sellers look to make moves while a confluence of factors drive activity. Included in those factors are high valuations for motor carriers, deals that have gotten backlogged during the pandemic and concerns over potential changes to capital gains taxes. According to Lee A. Clair, a managing partner at Transportation and Logistics Advisors, significant activity is occurring for less-than-truckload brokers, truckload brokers, truck lines, airfreight forwarders, ocean forwarders and managed transportation providers. He also notes the activity is lifting deal brokers out of a period of idleness that dates to the fourth quarter of 2019.