Monday October 26 2009

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U.S. Chamber of Commerce Launches Campaign for Free Enterprise

WASHINGTON, D.C.-The U.S. Chamber of Commerce today launched its Campaign for Free Enterprise,” American Free Enterprise. Dream Big”. This unprecedented national campaign, one of the most significant in the Chamber's nearly 100 years, will urge Americans to embrace the essential role that free enterprise plays in the success of our country.

"As a nation we face major challenges, but none is greater than reviving the economy and creating the 20 million new jobs that we need over the next decade," said U.S. Chamber President and CEO Thomas J. Donohue. "It is time to remind and educate all Americans that the free enterprise values of individual initiative, hard work, freedom of choice, and the free exchange of trade, capital, and ideas built this great country and can lead us back to prosperity."

Shell Answers Shop-Level EPA 2010/DEF Questions

SEATTLE. At a meeting held here yesterday to educate its customers on the changes that will be wrought by the new EPA diesel engine emissions rules that take effect just weeks from now, Shell Lubricants fielded plenty of questions about the shop-level details of operating and maintaining trucks with 2010-compliant engines.

On hand to answer those questions-- at what was the last of ten such regional symposiums held around the country-- was Dan Arcy, OEM technical manager for Shell Global Solutions (U.S.). Many of the questions centered on what happens if a driver fails to refill the Diesel Exhaust Fluid (DEF) tank or simply fills it will water instead. Arcy reviewed the various systems designed to keep the driver informed of the level of DEF in the tank, from the analog DEF gauge, to the green-yellow-red warning light system. If a driver lets the tank run absolutely dry, he or she can still drive 1,000 miles on an engine de-rated to operate at 55 mph, Arcy explained. After that, once the truck speed drops to 5 mph or less, the driver will not be able to go any faster than 5 mph until the DEF is replenished.

September Truck Tonnage “Improves” with 7.3% Drop Over 09-08

U.S. truck tonnage fell 7.3 percent in September from the same month last year, the best year-to-year showing since November 2008, American Trucking Associations said Friday.

ATA’s seasonally adjusted for-hire truck tonnage index fell 0.3 percent in September from August after a 2.1 percent increase from July to August. August's index was down 7.5 percent from a year before.

Administration Launching Initiatives to Help Small Businesses

The CBS Evening News (10/21, story 2, 2:05, Couric,) reported that "Obama rolled out a plan to use some of the bailout money to encourage smaller banks to lend to small businesses and help them create much-needed jobs." CBS (Mason) added that "small businesses have created nearly two-thirds of all the new jobs over the past decade and a half. In other words, we can't have a recovery without them."

Caterpillar Names Next CEO; Oberhelman Succeed Owens in 2010

CHICAGO - Caterpillar Inc. (CAT) said Thursday that Douglas Oberhelman, president of its engine and services business, will replace Chairman and Chief Executive James Owens next year.

The construction equipment maker has been eyeing a successor since last year, when Owens signaled that he planned to step down in 2010, and was widely expected to make an internal promotion.

HD Dialogue '10 Panel to Focus on Global Transportation Strategies

Heavy Duty Dialogue '10 will include a panel discussion focusing on global transportation strategies, covering such topics as government regulations, highway congestion, new vehicles and technologies, as well as globalization, market consolidation and intermodal affects on the commercial vehicle industry.

Heavy Duty Dialogue is a business conference for executives in the commercial vehicle supplier industry. It will be held the Mirage in Las Vegas on Monday, Jan 18, 2010.

Transport Advocates Optimistic About Road Bill Early Next Year

Transportation officials said they are optimistic Congress still will pass a long-term highway bill in coming months, but the exact timetable could depend on how quickly lawmakers wrap up debate on other legislation.

Advocates for a long-term highway bill were buoyed by recent comments by Sen. Dick Durbin (D-Ill.), the Senate majority whip and a close ally of the White House, at an Iowa economic forum during which he indicated his support for passing a six-year transportation bill early next year.

"Stunningly Poor" GM Management Shocked Restructuring Chief Rattner

Former Wall Street insider Steven Rattner, recruited by the Obama administration to restructure GM and Chrysler, despite no government or auto making experience, has said he was “shocked by the stunningly poor management that we found, particularly at GM, where we encountered, among other things, perhaps the weakest finance operation any of us had ever seen in a major company”.

In a lengthy interview with Forbes magazine, Rattner, who left the administration in July, said “everyone knew Detroit's reputation for insular, slow-moving cultures”.

Mack, Volvo Trucks NA to Merge, Slagle to be CEO

Volvo Group will combine its North American truck operations, Mack Trucks and Volvo Trucks North America, into one entity called North American Trucks, confirmed Mack Spokesman John Walsh. The new organization will be lead by Dennis Slagle, current president of Mack Trucks, according to published reports. The move was part of an effort to improve "profitability and efficiency," officials said.

"This reorganization is not about headcount reductions," said John Mies, Mack spokesman. "It's about improving alignment and creating the most effective organization we can."

Caterpillar Raises Forecast for Year

Caterpillar posted third-quarter earnings that beat analysts’ estimates and issued a full-year forecast that exceeded the highest prediction.

Profit dropped to $404 million, or 64 cents a share, from $868 million, or $1.39, a year earlier, the company said Tuesday in a statement. The average estimate in a Bloomberg survey of analysts was 5 cents a share.

EPA Says Clean Diesel Efforts are Working

The U.S. Environmental Protection Agency said last week its clean diesel efforts have produced $500 million to $1.4 billion in public health benefits.

EPA said in a report to Congress that for the $50 million spent in 2008 to implement the Diesel Emissions Reduction Act, the agency funded the purchase or retrofit “of 14,000 diesel-powered vehicles and pieces of equipment, preventing respiratory illnesses and saving money in communities nationwide.”

Accuride Enters Pre-Arranged Chapter 11

Accuride Corp. filed for bankruptcy reorganization on Thursday as part of a negotiated plan to turn over ownership of the struggling company to its bondholders.

The Evansville-based company, whose operations include a truck wheel plant in Henderson, Ky., said that while in bankruptcy, it "will continue to operate business as usual," according to spokeswoman Eva Schmitz.

Remy Signs Deals for Its Electric, Hybrid Motors

CEO John Weber would not identify the company's customers but said the motors will be on the road within a year. Some of the customers are European automakers, he said.

ANDERSON, Ind. -- Remy International has signed contracts with six automakers to deliver electric drive motors for electric and hybrid vehicles.

Navistar Reaches Tentative Settlement Over 2002-05 Financial Results

CHICAGO - Navistar International Corp. (NAV) said Monday Chairman and Chief Executive Daniel Ustian will return part of his 2004 bonus and several former employees are expected to pay fines as part of a tentative settlement to the U.S. Securities and Exchange Commission's probe of the truck and engine maker's accounting practices.

The Illinois company, however, will not have to admit any wrongdoing as part of the settlement, which also requires the agency's approval. Ustian received a $2 million bonus for 2004. The company did not disclose how much of that bonus will be returned and did not identify the names of former Navistar employees who face fines.

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