Category: Trucking News

VW, Navistar: What's the Deal?

Well, it finally happened. Rumored for many months, if not years, and now a fait accompli, Volkswagen Truck & Bus has bought a piece of Navistar International. While the gossip mill mostly envisioned an outright purchase by the German giant, yesterday's announcement described a less dramatic deal: VW is buying a 16.6% stake in the Illinois company. It will pay US$15.76 per share or a 25% premium over Navistar's 90-day volume-weighted average price as of Aug. 31, or 12% over Navistar's closing price on Sept. 2. Navistar will receive US$256 million from the equity investment to be used for general corporate purposes. ...Read the rest of this story

GM Recalls Multiple Models for Air Bags

<img width="150" src="http://www.automotive-fleet.com/fc_images/news/m-silverado1500.jpeg" border="0" alt="

The Chevrolet Silverado 1500 is among the recalled models. Photo courtesy of GM.

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The Chevrolet Silverado 1500 is among the recalled models. Photo courtesy of GM.

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General Motors is recalling approximately 3.64 million 2014- to 2017-model-year vehicles in the U.S. because a software defect in their sensing and diagnostic modules may result in air bag malfunction, the automaker said.

The recall includes certain:

2014- to 2016-MY Buick LaCrosse, Spark EV and Chevrolet SS vehicles2014- to 2017-MY Chevrolet Corvette, Trax, Caprice PPV, and Silverado 1500; Buick Encore; and GMC Sierra 1500 vehicles2015- to 2017-MY Chevrolet Tahoe, Suburban, and Silverado HD; GMC Yukon, Yukon XL, and Sierra HD; and Cadillac Escalade ESV and Escalade vehicles.

The sensing and diagnostic module controls air bag and pretensioners deployment. The software defect may prevent the deployment of frontal air bags and pretensioners in “certain rare circumstances when a crash is preceded by a specific event impacting vehicle dynamics,” GM said in a released statement.

Dealers will update the software, free of charge, to resolve the problem. To learn whether any of your vehicles are involved, fleet managers can click here to search by VIN.

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Doonan Offers Specialized Option for Heavy-Haul Coil Transport

Doonan Specialized Trailer has designed and manufactured a new Series 2 V-channel trough flatbed coil haul trailer for special loading applications where coils cannot be transferred into and from a recessed trailer well, but still require safe securement on the flatbed.

The 44-foot x 96-inch, 110,000-pound GVWR, all-steel, tri-axle trailer with bulkhead, cradles 3- to 7-foot diameter steel coils shotgun style inside a V-shaped, rubber-lined steel trough on the center surface of the flatbed. The channel cribbing cushions the coils and allows for efficient loading and removal from the trailer.

“The new ‘Series 2' V-channel coil haul trailer is a niche' market trailer that we designed to address a need in the marketplace,” said Kelly Zecha, national dealer manager and application specialist at Doonan.

A walkway on both sides of the channel allows for easy inspection of the load. Tie-downs can be applied by a driver from alongside the trailer to further support the securement of the coils through a sliding winch track on both sides.

Designed for strength and reliability in heavy-haul coil transport, the trailer features components like the two custom main beams, ABS system, and Hendrickson HT. A sliding tarp system is also added to eliminate the driver having to tarp the load

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Swift Founder/CEO Jerry Moyes to Retire by Year’s End

Swift Transportation Company announced the retirement of founder and CEO Jerry Moyes, effective Dec. 31, 2016.

He'll be replaced by Richard Stocking, who has been president and chief operating officer of the Phoenix-based company since 2010. During the transition period, Moyes and Stocking will serve as co-CEOs, but daily responsibilities will be transitioned to Stocking immediately.

Moyes, who started the business in 1966 with a single truck, was one of the last of a group of trucking leaders who led the rise of the truckload industry after trucking was deregulated in 1980.

However, as the Wall Street Journal reports, in the past year, the 72-year-old executive has come under fire for pledging Swift shares as collateral for personal loans.

“I want to thank everyone at Swift for helping me build this great company over the last 50 years,” said Moyes. “I am proud of all of Swift's employees who drive the performance of this company, and I am confident that Swift will continue on its successful path.”

As of Jan. 1, Moyes will serve as founder and chairman emeritus and a member of the board of directors.

Stocking has been with Swift since 1992 with experience managing all facets of the business including operations, sales, marketing, safety and recruiting. He served in other leadership capacities including executive vice president of sales and regional vice president of operations.

“Beginning 50 years ago, hauling steel with a single truck, Jerry Moyes created a strong, enduring company and built Swift into one of the largest truckload providers in the U.S.,” said Richard Dozer, chairman of the board of directors. “We are deeply grateful to Jerry for his innumerable contributions to Swift's growth and success. We wish Jerry all the best in his well-deserved retirement and look forward to his continued guidance and experience on the Board.”

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Engagement key to lowering early driver turnover rates

Dispatchers also play outsized roll in driver retention rates early on, research firm suggests.

Getting newly-hired truck drivers engaged is “positive feedback” loops early on in their tenure with motor carriers is critical to preventing what's being dubbed “hire and retire” syndrome or “early turnover” within 90 days, research firm Stay Metrics suggests.

Based on its analysis of 24,000 drivers employed at 80 carriers using its loyalty and engagement programs, Stay Metrics found that out of 100 drivers, 33 will leave 90 days after being hired, with 22 leaving by the 180 day mark.

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