Walt Disney Co (NYSE:DIS) is under serious pressure in mid-day trading on Thursday, pushing shares back below the 200-day moving average amid what looks like a technical breakdown in progress. This is disappointing for Disney stock owners who enjoyed a near 30% rebound from its October low to retest its 2015 highs near $115. A return to last year's lows in Disney stock would result in a loss of nearly 13% from current levels.
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Photo: FMCSA
">Photo: FMCSA
">“That's the $64,000 question,” Steve Bryan replied when I asked him the other day whether having a supposedly pro-business administration in place will ensure reform of the Compliance, Safety, Accountability enforcement regime laid out by a new National Academies of Sciences, Engineering, and Medicine report will ultimately be implemented by the Federal Motor Carrier Safety Administration.
NAS last week publicly released its congressionally mandated report that provides a road map to reforming CSA. Boiled way down, the 132-page report calls for setting CSA scores via a methodology based on a wider pool of data (including driver compensation, vehicle miles traveled by state, and other factors) that would be phased in over two years to replace the current system.
By and large, trucking lobbyists swooned over the report— not surprising given the industry has long held that the existing Safety Measurement System used to ID commercial motor vehicle carriers at high risk for future crashes is highly defective. For example, American Trucking Associations President and CEO Chris Spear said the report “confirmed much of what we have said about the program for some time. The program, while a valuable enforcement tool, has significant shortcomings that must be addressed, and we look forward to working with FMCSA to strengthen the program.”
Likewise, David Heller, vice president of Government Affairs, for the Truckload Carriers Association said the study “reaffirms what our industry has been saying all along, that there are inconsistencies with the Safety Measurement System. Safety-minded, forward-thinking carriers like the members of TCA should be able to stand behind their safety accomplishments, and being judged on those achievements, in an equitable manner, should be the basis of what CSA is all about.”
Now, as explained in a blog post by Avery Vise, president of compliance consultancy TransComply, FMCSA has four months—120 days— ...Read the rest of this story
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Interstate Distributor Co., was acquired by Heartland Express for around $113 million. Photo via Interstate Distributor Facebook page
">Interstate Distributor Co., was acquired by Heartland Express for around $113 million. Photo via Interstate Distributor Facebook page
">Truckload carrier Heartland Express has acquired 100% of the outstanding stock of Tacoma, Washington-based Interstate Distributor Co. from Saltchuk Resources, which bought IDC in 2011.
The acquisition was made for approximately $113 million, including $94 million in cash for equity, $23 million in assumed debt and $4 million of acquired cash. IDC's Tacoma headquarters and national terminal network overlap with existing Heartland locations and will be consolidated together over the near to medium term, according to Heartland.
“We are excited to add IDC's high-quality drivers, experienced personnel, and strong customer base to Heartland's operations,” said Michael Gerdin, chairman, president, and CEO of Heartland. “IDC is an excellent operational fit, as its terminal network has nearly direct overlap with our current locations. Heartland will gain significant additional traffic density in the West, and our stronger eastern network will improve service for IDC's customers in the East.”
Earnings Watch: Heartland First Quarter Profit Slips 2.4%IDC provides dry van truckload transportation services, primarily to the western and southeastern U.S., including local, regional, dedicated, and transcontinental services. The company's fleet consists of around 1,350 company tractors, 220 tractors run by independent contractors, and 4,700 trailers.
In each of the last three years, IDC was recognized as one of the top three safest fleets in America by the Truckload Carriers Association and has consistently been recognized as one of the Best Fleets to Drive For by CarriersEdge.
“Our first criterion is always safe and highly qualified professional truck drivers,” said Gerdin. “IDC has an experienced driver base with improving safety results over the past several years, and we are impressed by their culture."
Related: TCA Announces 2017 Best Fleets to Drive For
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