Fleet Management News & Business Info | Commercial Carrier Journal
Issue link: http://read.uberflip.com/i/93367
"With OTR Blue, we run around the clock over mountain grades in all sorts of weather conditions." -Bob Phipps, Director of Maintenance, Bettendorf Trucking, Arcata, CA JOURNAL NEWS Final rule to T OTR Blue Friction. A premium 20,000 lb. material. OTR Blue Friction surpasses the competition on every count. Our unique combination of raw materials delivers: • Greater mileage in 20,000 lb. applications • Better performance in brake temperatures 30% higher than standard linings For heavy duty braking power, turn to OTR Blue. To download your copy of the OTR Blue technical flyer, visit www.OTRBrake.com and click on OTR Blue. ® eliminate financial reporting withdrawn he Federal Motor Carrier Safety Administration withdrew its direct final rule eliminating the quarterly financial reporting requirements for certain for-hire motor carriers of prop- erty and passengers after receiving an adverse comment. FMCSA said it intends to publish a notice of proposed rulemaking in the near future to pursue eliminating the requirements. SJ Consulting Group said that it uses the quarterly financial information to advise motor carriers, shippers and persons interested in buying motor car- riers. It argued that the quarterly reports provide useful insight into the U.S. trucking industry, such as operating statistics that are not available from other public sources, particularly for private carriers. Available Exclusively at FleetPride Although SJ Consulting con- ceded that some data on general demand and pricing trends are available from other sources, it argued that quarterly data on the profitability of carriers are essential in providing safe and timely service to shippers, estimating future growth rates and assessing opportunities for industry investment. 20 COMMERCIAL CARRIER JOURNAL | OCTOBER 2012 Untitled-37 1 9/20/12 3:37 PM NAVISTAR | continued from page 12 tain models in January 2013 with the introduction of its ICT+ emissions solution in early 2013. Navistar said that during the transition to ICT+ that it would continue to build "compliant" MaxxForce diesel engines and that the addition of the Cummins 15-liter engine was one component of a multitiered plan designed to "enhance the company's compet- itive position and growth and shareholder value." Navistar on Aug. 27 announced that Daniel Ustian – the company's president, chairman and chief execu- tive officer – was stepping down and that its board of directors had appointed Lewis Campbell – former chairman, president and CEO of Textron Inc. – as executive board chairman and interim CEO. Navistar also announced that it had promoted Clarke, previ- ously president of Truck and Engine Operations, to president and COO. Navistar also launched a review of all of its noncore businesses and announced that it was completing a voluntary separation program and a reduction in its salaried work force. The company said these actions should generate $70-$80 million in annual savings and contribute to its overall goal to reduce costs by $150-$175 million year-over- year starting in fiscal year 2013. In Navistar's 10-Q statement for its 2012 third- quarter financial summary, the company reported the restructuring of its North American manufactur- ing operations, which included closing its heavy truck plant in Chatham, Ontario, and its Workhorse Custom Chassis plant in Union City, Ind.; and scaling back operations at its Monaco recreational vehicle headquarters and motorcoach manufacturing plant in Coburg, Ore. Last month, Navistar investor Carl Icahn issued a public letter to the company's board of directors demanding four new board seats for its top share- holders to allow them a voice in company deci- sions. Icahn has more than $330 million invested in the company – about 15 percent of its common stock – and the top four shareholders together own about 56 percent of Navistar stock. Navistar expressed its disappointment in Icahn's letter, saying "the Board and management have a clear path forward and are focused on executing on their plan." Icahn responded with another pub- lic letter, saying that if his demands were not met, he would pursue legal action. A Navistar spokes- man declined comment. Write 239 on Reader Service Card or visit ccjdigital.com/info