Monthly Archives: March 2014

Chiquita to buy fyffes creating biggest banana supplier

Chiquita Brands International Inc., (CQB) owner of the namesake banana label, agreed to buy Ireland’s Fyffes Plc (FFY) to create the world’s biggest supplier of the fruit for about 403 million euros ($559 million).Miss_Chiquita

The combined company will be called ChiquitaFyffes Plc, Chiquita and Fyffes said today in a joint statement.

The deal brings together two of the world’s oldest fruit importers, who between them have operations spanning the Americas, Europe and Asia. Chiquita Chief Executive Officer Ed Lonergan, who will become chairman of ChiquitaFyffes, has sought to reshape his Charlotte, North Carolina-based company as a high-volume seller of bananas and salads while winding down and abandoning other product lines.

Fyffes Chairman David McCann will become CEO of the combined company, which will be domiciled in Ireland, trade in New York and have annual sales of about $4.6 billion. The transaction is expected to close this year, pending approval by shareholders and the Irish High Court.

 

Truckload capacity tightening viewed as inevitable

Harsh winter weather combined with replacement-only truck buying, last year’s changes to hours of service (HOS) rules, and a spate of trucking company exits in the fourth quarter of 2013 is leaving TL capacity extremely limited for the short-term, according to several industry observers. And if economic activity improves even slightly in the months ahead, then a “true” TL capacity shortage may finally unfold.1379883_420961908050142_1102124823_n

The difficult winter restricted TL capacity in the short term as carriers shut down equipment during storm, with others choosing not to dispatch trucks into regions where forecasts called for heavy snow and/or ice.

That steady economic “chugging” means that as the weather improves and the snow melts, the general longer-term trend of tightening capacity should continue to play out as the economy continues to grow –  slowly and steadily – while a tight driver supply combined with “regulatory drag” puts a damper on the ability of carriers to maintain much less add capacity.

Read more here.

Toll roads take their toll on motorists

Several trucking companies and trucking trade groups have joined a band of other business and consumer organizations to form an anti-tolling group who says its mission is to keep existing interstates toll-free. toll-roads

The Alliance for Toll-Free Interstates includes trucking industry members FedEx, UPS, Old Dominion, the American Trucking Associations, all 50 state trucking associations, the Truckload Carriers Association, Quality Transport, H&J Trucking, NATSO and others.

ATFI, a lobbying group, says it wants to show both the public and members of government the effects implementing tolls on interstates would have on business and the economy, as well as consumers.

The group formed in response to three states implementing pilot programs to allow tolls on existing interstate lanes, even though federal law prohibits tolling on existing Interstates. Moreover, ATFI says, “the tolling industry is pressuring lawmakers” to change the law and allow tolling on existing lanes.

Also, as the next highway bill looms and Congress searches for a solution to preventing the Highway Trust Fund going broke, ATFI says it hopes to show tolls as “unreliable, expensive and inefficient” as a mechanism for generating infrastructure funding.

How do you feel about toll roads? Do you mind the couple bucks they charge or do they cause you to take a different route? Personally, I hate toll roads. If I take a toll road everyday it would save about 8 minutes off my commute each way but cost me $3 a day. Typically I only use the toll roads when I’m in a rush and don’t have time for the side streets. But if they began tolling existing highways, I don’t know how I would get around!

Story from overdriveonline.com