Mr. John Schulz

GLG News by Mr. John Schulz, Independent Analyst - Contributing Editor

GLG News is now G+ Insights

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Best News for the Trucking Industry Has Nothing to Do With Trucking

January 19, 2011

Analysis of:U.S. Factories Buck Decline | online.wsj.com

American manufacturing, long written off as a economic loser, is making a comeback. For the first time since 1997, the number of manufacturing jobs grew last year by 1.2 percent, of 136,000 new jobs. And it's not a one-shot deal. Economists are predicting a 2.5 percent gain, or 330,000 new manufacturing jobs, this year.

Downsizing of YRC Worldwide Continues: Details of 41 More Terminals to Close

November 17, 2010

Analysis of:YRC Worldwide will close 40 terminals because of low freight volume | www.bizjournals.com

YRC Worldwide, reacting to a slump in its overall freight demand, will close about 40 trucking terminals, or about 12 percent of its overall network. This reduction will continue to "right-size" YRC, according to its CFO, Sheila Taylor. Outgoing Chairman and CEO Bill Zollars says there should be no more terminal closings at YRC for awhile, as its capacity and freight demand are in "pretty good balance now."

Another Quarter, Another Quarterly Loss For YRC Worldwide

November 5, 2010

Analysis of:YRC Worldwide Achieved Significant Progress on Comprehensive Recovery Plan | finance.yahoo.com

YRC Worldwide reported a third-quarter net loss of $62 million on $1.14 billion revenue, compared with a $159 million loss on $1.2 billion revenue in the year-ago quarter. Bill Zollars, YRC's chairman, CEO and president who is leaving the company at the end of the year, said the $62 million loss meant the financially troubled LTL trucker had "achieved significant progress" despite losses in excess of $2.2 billion the last two and a-half years.

YRC Worldwide Gets More Life--Teamsters Accept More Concessions on Pay, Pensions

November 1, 2010

Analysis of:Teamsters Accept More Concessions at YRC Worldwide | www.kansascity.com

Rank-and-file Teamsters at YRC Worldwide units have accepted another round of wage and pension concessions aimed at keeping the struggling LTL carrier alive. In addition to a 15 percent wage concession through 2015, the YRC workers will continue a freeze on their pensions until mid-2011, and then get only 25 percent of previously agreed to pension contributions. The scheme is estimated to save YRC as much as $350 million annually.

Anger and Angst Drive Another Challenge to Hoffa

October 12, 2010

Analysis of:Second Teamsters Candidate to Challenge Hoffa | www.nytimes.com

Sandy Pope, a former truck driver and president of a large Teamsters Local in Long Island City, N.Y., is officially challenging incumbent Teamsters president James. P. "Jim" Hoffa in next year's election at the 1.4 million-member union. An admitted longshot, Ms. Pope is the second official challenger to Hoffa. Earlier, Fred Gegare, a Teamsters leader from Green Bay, Wis., announced he was challenging the two-term incumbent of the Teamsters.

Biggest Myth in Trucking -- The General Rate Increase Means Something

September 30, 2010

Analysis of:FedEx Freight to Raise LTL Rates 6.9 Percent | www.joc.com

FedEx Freight and ABF Freight System are first out of the box with announcements of their general rate increases for 2001--6.9 percent for FEF and 5.9 percent for ABF. Troubled LTL giant YRC Worldwide says it is raising rates by 5.9 percent as well. But hardly any large shipper will be affected by these rate increases, which apply only to non-contract rates and often are discounted away in negotiations with truckers' large national accounts.

End of an Era for YRC Worldwide--Zollars Leaving as Chairman, CEO

September 29, 2010

Analysis of:Zollars to Retire from YRC Worldwide Following Completion of Comprehensive Recovery Plan -- OVERLAND PARK, Kan., Sept. 28 /PRNewswire-FirstCall/ -- | www.prnewswire.com

Financially ailing trucking giant YRC Worldwide, which has lost more money than any trucking company in U.S. history, is getting a change at the top. Chairman and CEO William D. "Bill" Zollars says he is leaving the company after 13 tumultuous years at the helm. His contract was due to expire at the end of this year. The company says it would seek a successor from both internal and external candidates.

Trucking Time Bomb: What To Do About Mexican Trucks?

August 20, 2010

Analysis of:Teamsters Urge Federal Government To Challenge Mexico's Retaliatory Tariffs -- WASHINGTON, Aug. 16 /PRNewswire-USNewswire/ -- | www.prnewswire.com

Mexico plans to impose import tariffs of as much as 25 percent on a variety of U.S. products in retaliation for the failure of the U.S. government to allow Mexican trucks to operate north of the border, as required under terms of the 16-year-old North American Free Trade Agreement (NAFTA). Mexico will administer tariffs on a rotating list of 99 U.S. products valued at about $2.5 billion.

YRC Q2 Bottom Line: More losses, more expensive debt

August 4, 2010

Analysis of:YRC Worldwide (NASDAQ: YRCW) Can't Shake Downward Spiral In Q2 | www.istockanalyst.com

Financially ailing LTL giant YRC Worldwide narrowed its second-quarter net loss to $9.5 million, compared with year-ago quarterly losses of $309 million. That came on a 2.9 percent drop of revenue to $1.1 billion. But YRC's long-term survivability is still a huge question mark, as it faces "snapback" pension payments to the Teamsters union multiemployer pension plans of as much as $350 million a year, plus higher borrowing costs as it trades it long-dated debt for shorter-term debt at higher interest costs.

Which Trucking Company Benefits Most from a YRC Closure? How About ODFL?

July 28, 2010

Analysis of:UPDATE 3-Old Dominion Freight Line Q2 beats Street, shares rise | Reuters | www.reuters.com

Old Dominion Freight Line, the nation's seventh-largest LTL trucking company, reported a surge in second-quarter net income of $21.5 million on 16.5 percent rise in revenue to $368.3 million, compared to 10.7 million net income in the 2009 second quarter. Analysts noted ODFL's ability to raise rates as well as a 13.4 percent rise in tonnage in helping the company post an industry-best 89.1 operating ratio (OR) in the second quarter.

Final Nail in YRC's Coffin? It Could Be Teamsters' Pension Payments

July 6, 2010

Analysis of:Saving Teamster Pensions | www.tdu.org

Struggling YRC Worldwide is facing unrest among its Teamsters rank and file, as well as the Teamsters international leadership, for the pension freeze won a year ago. That freeze, due to expire next January, could result in an additional costs of as much as $30 million a month for cash-strapped YRC. Teamsters President James. P. "Jim" Hoffa is vowing to hold YRC's "feet to the fire" to resume payments into the Teamsters' multi-employer plans.

YRCW Turning the Corner? It Must Be The Longest Block in America

June 30, 2010

Analysis of:YRC still sees positive EBITDA, approves share plan | Reuters | www.reuters.com

YRC Worldwide, which has lost in excess of $2 billion in the last three years, says its outlook is improving despite shutdown costs associated with a $37 million sale of parts of its YRC Logistics business to Austin Ventures. That will add about $10 million of one-time shutdown costs and asset write-downs. Still, the struggling U.S. trucker, once the largest trucking company by revenue, said it expects positive earnings before interest, taxes, depreciation and amortization (EBITA) in the second quarter.

Nice Quarter for FedEx, But Why Was the Stock Hammered?

June 17, 2010

Analysis of:FedEx Posts $419 Million in Profit For Quarter | query.nytimes.com

FedEx reported net profit of $419 million on $9.43 billion revenue for its quarter ended May 31, swinging back to profitability after an $876 million loss in the year-ago quarter. Its revenue jumped 20 percent in the quarter as it continued to take advantage of what the company called "a continued moderate recovery." Still, FedEx shares fell nearly 6 percent, or $4.94 a share, on the day of the announcement as investors and analysts were looking for more optimistic guidance from the company.

Asset Sales to Continue at YRCW. Is This Another Fire Sale?

June 14, 2010

Analysis of:YRC’s Zollars: Liquidity Plans a Good Problem to Have | blogs.barrons.com

YRC Worldwide CEO Bill Zollars says asset sales of his company, once the largest trucking company by revenue in the country, will continue as it seeks additional means of liquidity. This is occurring even as the rest of the trucking industry is gearing up for additional freight be added to their networks. Zollars says YRC, which has lost in excess of $2 billion the last three years, should have positive earnings before interest, depreciation and debt in this quarter.

FedEx vs. UPS: Round 1,354

May 25, 2010

Analysis of:Cargo Carriers Pose Conundrum for Air Safety Bill | www.buffalonews.com

The nation's two small parcel giants--UPS and FedEx--are locked into a high-stakes lobbying war in Washington that could spell the end of FedEx's non-union status for its tens of thousands of truck drivers. UPS wants FedEx's parcel ground drivers to fall under the National Labor Relations Act,  the same law that governs most of its 250,000 or so Teamsters. FedEx is arguing it deserves to stay under the Railway Labor Act, which has governed FedEx since its founding in 1971.

Wal-Mart's Push for Transport Efficiency = Bad News for Carriers

May 24, 2010

Analysis of:Wal-Mart Seeks More Control of Its Transportation | Transport Topics Online | Trucking, Freight Transportation and Logistics News | www.ttnews.com

Wal-Mart, the world's largest retailer, wants more in-house control over its transportation suppliers. That means taking over transportation deliveries to its 4,000 stores and warehouse clubs where it deems its in-house network of private carriage can perform the same services better.

Looking for IdleAire?It is Back.

May 18, 2010

Analysis of:IdleAire to Reopen at 23 Locations | www.ttnews.com

IdleAire, the innovative maker of in-cab auxiliary power units and air conditioning and electric outlets, says it is reopening its facilities at 23 truck stops. It had ceased operations in January. The company says on its Web site it is planning to restart IdleAire services "in the near future."

If Your Company's Trucks Aren't Full Now, Something is Wrong

May 17, 2010

Analysis of:Truckload Spot Freight HIts Two-Year High | www.mmsend54.com

One index of spot market truckload volumes leaped 291 percent in April from year-ago levels. This index, as compiled by TransCore, is at its highest since June 2008. April's rise was the seventh straight month in gains, according to TransCore's North American Freight Index.

Werner and TL Brethren in Line for Freight Bounce

May 14, 2010

Analysis of:Worst is over, Werner exec says | www.omaha.com

Werner Enterprises,  the nation's third-largest truckload carrier, says it is seeing increasing evidence of a solid economic turnaround which will help the nation's trucking companies increase freight volumes and rates. "The worst is in our rear-view mirror," Werner COO Derek Leathers tells the Omaha World-Herald.

Revolving Door Continues at YRC Worldwide

April 13, 2010

Analysis of:YRC’s President Leaves for Health Care Job | blogs.barrons.com

Tom Wicks, president and COO of YRC Worldwide, is leaving after less than two years at the company. Wicks is returning to United HealthCare, a unit of United Health, the company he left to join YRC in 2008. Wicks worked at UHC for six years before going to YRC, the financially troubled trucking company.

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