Mr. John Schulz

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

GLG News is now G+ Insights

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Truckers Exhale: No New Fuel Taxes, DOT says

March 26, 2010

Analysis of:DOT Rebuffs New Talk of Raising Fuel Taxes | www.joc.com

A top official of the Department of Transportation says the Obama administration has not changed its stance in opposition to raising the federal tax on motor fuels. That tax has gone unchanged since 1993, and highway advocacy groups say it is inadequate to fund this country's infrastructure needs.

This is Not Your Grandfather's Teamsters union

March 4, 2010

Analysis of:L.A. Local 848 Members Say No to Big Wheels | www.tdu.org

A major Teamsters local in Los Angeles has voted to cancel a request to spend $59,000 on a new GMC Yukon for Eric Tate, Local 848's secretary-treasurer. He was the hand-picked successor to Jim Santangelo, the long-time leader of the Los Angeles local who was driven out of power by the dissident Teamsters for a Democratic Union.

Next Great Success Story in Trucking: Greatwide Logistics

February 3, 2010

Analysis of:Greatwide Chairman Suggs Replaces Greer as CEO | www.google.com

Greatwide Logistics, Dallas, has replaced Ray Greer as CEO with its chairman, Leo Suggs, former chairman and CEO of UPS Freight. John Simone will continue as Greatwide president and COO. Greatwide has emerged from 2008 Chapter 11 bankruptcy proceedings and recently bought the dedicated logistics business of the logistics unit of YRC Worldwide.

FedEx Picture Not as Gloomy as Market Reaction

December 17, 2009

Analysis of:FedEx's Second-Quarter Profit Falls 30% on Lower Prices | www.marketwatch.com

FedEx Corp., long considered a bellwether economic predictor, issued quarterly earnings that were off 30 percent for its quarter than ended Nov. 30. The decline was mainly because of a sharp dropoff in fuel surcharges. FedEx shares fell nearly 5 percent on the news, but are still up 34 percent for the year.

YRC's Survival Hanging on Chicago Locals Vote?

December 3, 2009

Analysis of:New Threat: YRC May Close if Chicago Votes No | www.tdu.org

The Teamsters union leadership has been told that YRC Worldwide will shut down if 1,500 Teamsters in Chicago don't approve a $1.16 an hour pay cut. That's what Teamsters Freight Director Tyson Johnson and Teamsters Vice President Pay Flynn have told workers at the nation's largest trucking company, according to a report on the Web site of the Teamsters for a Democratic Union, the dissident wing of the 1.4 million member union.

Either the Teamsters or ABF Freight System is Lying. Maybe Both.

November 23, 2009

Analysis of:ABF, Teamsters May -- Or May Not -- Be in Concession Talks | www.dcvelocity.com

ABF Freight System, the nation's fifth-largest LTL carrier, is seeking wage concessions from the Teamsters union to match the 15 percent givebacks obtained by YRC Worldwide, the nation's largest LTL carrier. But the Teamsters union is publicly denying that any concession talks are taking place.

"Cadillac" of Trucking Terminals to be Closed by YRCW

November 17, 2009

Analysis of:YRC Closes Big Richfield, Ohio, Terminal | www.tdu.org

 Financially troubled YRC Worldwide is closing its 202-door Richfield, Ohio, breakbulk terminal, one of the largest in its system. The move is part of YRCW's downsizing, and affects about 1,000 Teamsters at three Ohio terminals. About 400 of those 1,000 Teamsters already are laid off.

Flavor of the Month is Railroads, But Freight Eventually Will Move Back to Truck

November 12, 2009

Analysis of:Trucking 101--This Analyst is Half Right | www.forexyard.com

How solid is the case for intermodal rail? Is it merely the flavor of the month, or can be be an honest-to-goodness, legitimate alternative to all-truck movements of surface freight? Analysts are touting intermodal rail, but how important and encompassing can rail transport be to U.S. shippers?

Is the Web Going to Save These Two Freight Behemoths?

November 11, 2009

Analysis of:For FedEx, Holidays May Bring an Upturn | online.wsj.com

FedEx Corp. is predicting an 8 percent rise in its "busiest day shipments" on Dec. 14, compared with last year's busiest day total. FedEx expects to ship more than 13 million packages on that day. Arch-rival UPS, which is about 35 percent larger than FedEx, says it will issue its own, separate "busiest day shipments" forecast next year, after eschewing such forecasts last year.

Big-Foot YRC Drops the Other Shoe on Shareholders

November 3, 2009

Analysis of:YRC is Seeking Big Concession by Shareholders | www.google.com

Embattled trucking giant YRC Worldwide is asking its shareholders to give up 95 percent ownership in the trucking company to lenders in what it calls a "final step" in its recovery plan. One analyst called the deal a "train wreck hitting the school bus full of kids and nuns" for shareholders, who caused a massive selloff in the stock in one day of more than 60 percent to $1.32 a share.

YRC's Spin May Be Positive, But the Operating Numbers Are Not

October 30, 2009

Analysis of:YRC Worldwide Reports Significant Sequential Improvement in 3Q 2009 Results | www.google.com

YRC Worldwide, the nation's largest trucking company by volume, reported a $158.7 million loss in the third quarter on sharply declining revenue of  $1.3 billion, compared with a net loss of $720 million on $2.38 billion revenue in the year-ago quarter. Despite the huge losses, YRC Chairman and CEO Bill Zollars says the company "gained significant momentum" in the third quarter and some progress in new credit agreements with its consortium of lenders.

Don't Panic. This Trucking Recovery May Be Two Steps Ahead, One Step Back

October 23, 2009

Analysis of:ATA Truck Tonnage Index Slipped 0.3 Percent in September | www.reuters.com

The American Trucking Associations' closely watched advanced seasonally adjusted for-hire Truck Tonnage Index fell 0.3 percent in September. This came after it increased 2.1 percent in both July and August.

Best is Yet to Come for C.H. Robinson

October 21, 2009

Analysis of:Weak Demand Hurts Shipper C.H. Robinson | www.google.com

C.H. Robinson, the leading third-party logistics provider at nearly $8 billion in revenue, posted $95.5 million in third-quarter net profit despite a 15.6 percent decline in revenue to $1.95 billion. Its core trucking business rose 2.1 percent as the nation's industrial base began its economic recovery, although its ocean shipping business was off nearly 22 percent and its intermodal revenue decline 30 percent, although it was a small percentage of its overall business.

FedEx is Not Alone in Fighting Independent Contractor Battles.

October 19, 2009

Analysis of:'Contractor' Lable Provokes Legal Disputes | online.wsj.com

The Internal Revenue Service, several states and the courts are stepping up their pursuit of legal remedies and penalties for companies that misclassify company employees as independent contractors. FedEx has been at the center of these legal battles for more than a decade as unions, states and some courts seek financial enhancement if independent owner-operators are reclassified as employees.

Another Leash on Life for YRC Worldwide

October 12, 2009

Analysis of:Lenders Extend Deadlines for YRC Worldwide | sacramento.bizjournals.com

A consortium of lenders has given YRC Worldwide, the nation's largest trucking company, two more weeks before a provision that requires the Overland Park, Kan.-based LTL carrier to maintain $100 million in liquidity. The company says it has been given until Oct. 30 before the amendment, the company's 11th such change, takes effect.

Hardball on the Highways: Paccar Closing Strike-Hobbled Peterbilt Plant

October 2, 2009

Analysis of:Peterbilt Closing Plant in Madison | www.google.com

Paccar's Peterbilt Motor Co. unit is closing its Madison, Tenn., permanently on Dec. 1. The news comes after the plant stopped manufacturing heavy duty Class 8 trucks in mid-20908. The company and the United Auto Workers Local 1832 were unable to agree on a new contract.

Slowly but Surely, Truck Tonnage on the Road Back

September 25, 2009

Analysis of:ATA Truck Tonnage Index Rose 2.1 Percent in August | www.google.com

The American Trucking Associations' seasonally adjusted for-hire truck tonnage index jumped 2.1 percent in August. That was the same year-over-year increase that July's index showed. But compared with August 2008 levels, truck tonnage was still 7.5 percent lower. Experts say it's the sign of a steady, if unspectacular, recovery in truck demand.

Highway Bill Hits Roadblock as Washington Proves It Can't Multitask

September 24, 2009

Analysis of:House Approves 3-Month Authorization Extension; Does Not Address Rescissions | www.aashtojournal.org

The House of Representatives overwhelmingly voted to extend the current level of federal-aid highway spending for three months. The current five-year, $286 billion highway bill expires on Sept. 30. The measure now goes to the Senate, which has bills approved by three committees to extend the current spending level for 18 months.

FedEx Absolutely, Positively Has Big Shoes to Fill Here

September 23, 2009

Analysis of:FedEx Freight Unit President and CEO Doug Duncan to Retire on Feb. 28 | www.google.com

Douglas G. Duncan, the first and only president and CEO that FedEx Freight has utilized, is retiring next Feb. 28. No successor has been named. FedEx Freight is the second-largest less-than-truckload carrier in the country (after YRC Worldwide), and the largest non-union LTL carrier.

So FedEx is Confident. What, Exactly, Does That Mean?

September 18, 2009

Analysis of:FedEx is Upbeat, Despite a 53 Percent Drop in Quarterly Profit | www.nytimes.com

FedEx is suddenly bullish about the international economic climate despite a 53 percent drop in its profit for its quarter ending Aug. 31. Revenue plunged 20 percent to just over $8 billion while net earnings fell to $181 million. FedEx is first to raise overall rates with a planned international and domestic rate increase of $5.9 percent on Jan. 4. That  is offset by a 2 percent cut in its fuel surcharge, plus any further discounts that shippers rate.

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