Fleet Management News & Business Info | Commercial Carrier Journal
Issue link: http://read.uberflip.com/i/265903
JOURNAL NEWS 8 COMMERCIAL CARRIER JOURNAL | MARCH 2014 t +BOVBSZ$MBTTUSVDLOFUPSEFST were 34,403, the second consecutive month with orders above 30,000 and the first time back-to-back months exceeded that mark since 2006, according to FTR Associates, citing preliminary order numbers for all major North American OEMs. January orders improved 56 percent year over year. t '53"TTPDJBUFTGPSFDBTU for the U.S. trailer market was 240,000 orders, a 2.2 per- cent increase over 2013. FTR expected dry vans to show a 2 percent year-over-year increase, while reefer vans were predicted to remain flat. Flatbeds, dumps and low beds were expected to show greater increases as construction and manufactur- ing improved. t :3$8PSMEXJEF (CCJ Top 250, No. 3) issued $250 million in new stock and con- verted $50 million in convertible notes to common stock to reduce its $1 billion debt by $300 million. The refinancing plan came on the heels of the Overland Park, Kan.- based company's labor extension with the Teamsters, which previously had rejected a deal with the less-than-truckload carrier. However, about 20,000 Teamsters mem- bers reversed course and voted to approve a labor extension to 2019. t ,OJHIU5SBOTQPSUBUJPO(CCJ Top 250, No. 25) ended its bid to buy USA Truck (CCJ Top 250, No. 44) as part of a settlement of a lawsuit filed by USA Truck to end Knight's attempt to acquire the Van Buren, Ark.-based carrier. USA Truck's board had rejected Knight's $9-per-share offer, and after Knight upped its ownership of USA Truck shares from 8 to 11.3 percent, USA Truck sued, claiming Phoenix-based Knight was using confidential information to prompt a sale. t ''&5SBOTQPSUBUJPO(CCJ Top 250, No. 62) won a lawsuit judgment after a Texas district court jury rejected the City of St. Jo's $3.5 million suit filed over a 2010 crash between an FFE truck and a police car whose driver was responding to a call. The city alleged the FFE driver failed to yield to an emergency vehicle, but the jury ruled the fleet was not at fault. t .PSFUIBOiIPUGVFMwMBXTVJUT were dropped against 15 defendant companies, including Pilot Flying J, 7-Eleven, Quik-Trip, Circle K, Costco and Wal-Mart. OOIDA had been involved in the suits and had set up a page on its website dedicated to promot- ing the litigation against the fuel providers that were accused of cheating customers when they make fuel purchases in warmer months, arguing that fuel expands in warmer temperatures and has less energy. t $PSFZ%BOJFMT pleaded guilty Jan. 31 to charges of conspiring to violate a Federal Continued on page 10 INBRIEF 3/14 Text INFO to or visit XXXDDKEJHJUBMDPNJOGP