Allied pulls bid on PTS
Private Equity HUB - Allied Systems Pulls Bid: "Allied Systems Holdings Inc., facing a slew of objections from creditors, has withdrawn its $67 million bid for fellow auto hauler Performance Transportation Services Inc."
Boydstun and Cottrell reach settlement.
Received this press release from Boydstun:
Portland, Oregon December 13, 2007 – Boydstun Metal Works announced today they have reached a mutually acceptable settlement with Cottrell Trailers regarding certain intellectual properties belonging to Boydstun Metal Works. The patents in question, one for Boydstun Screw Actuator Technology and the other for the Boydstun Soft Tie System, have contributed significantly to improving safety, quality, training and productivity related to the auto transport industry.
Despite differences of opinion between Boydstun and Cottrell on the direction of the industry, both organizations have invested heavily in new technology designed to improve auto transport. The agreement announced today allows both companies to offer the innovations that were the subject of the dispute to the auto transport industry going forward, an outcome desired and endorsed by Boydstun.
The Boydstun Metal Works brand is known for innovative engineering and production processes; assets that the company must protect but also employ for the industry wide benefit of auto transport. In keeping with its heritage, Boydstun will continue to evaluate and employ new technology to benefit the fleets that serve the automotive industry in what is unquestionably a very challenging marketplace.
Portland, Oregon December 13, 2007 – Boydstun Metal Works announced today they have reached a mutually acceptable settlement with Cottrell Trailers regarding certain intellectual properties belonging to Boydstun Metal Works. The patents in question, one for Boydstun Screw Actuator Technology and the other for the Boydstun Soft Tie System, have contributed significantly to improving safety, quality, training and productivity related to the auto transport industry.
Despite differences of opinion between Boydstun and Cottrell on the direction of the industry, both organizations have invested heavily in new technology designed to improve auto transport. The agreement announced today allows both companies to offer the innovations that were the subject of the dispute to the auto transport industry going forward, an outcome desired and endorsed by Boydstun.
The Boydstun Metal Works brand is known for innovative engineering and production processes; assets that the company must protect but also employ for the industry wide benefit of auto transport. In keeping with its heritage, Boydstun will continue to evaluate and employ new technology to benefit the fleets that serve the automotive industry in what is unquestionably a very challenging marketplace.
Do you haul new pickups?
Market Spotlight: Auto Suppliers: "General Motors Corp., Ford Motor Co. and Chrysler LLC have all announced first-quarter production cuts, citing slower demand as consumers continue to be rattled by high fuel prices and trouble in the housing market. A significant portion of the production cuts will be in the large pickup truck segment, which will particularly hurt suppliers with the most exposure to that part of the market such as..."
Make no mistake... competition is going to increase for loads, because there will be a half mill. less new vehicles to haul, and less freight at the auctions.
Make no mistake... competition is going to increase for loads, because there will be a half mill. less new vehicles to haul, and less freight at the auctions.
Auto Transport Drug Smuggling
Two sentenced on federal drug charges: "Gonzales drove Felix to San Antonio on July 13, 2005. Gonzales drove a Ford pickup pulling an auto transport trailer containing a Mercury. Gonzales followed Felix in another vehicle. A secret compartment in the Mercury’s trunk was used to hide the cocaine, according to federal investigators."
I've heard rumors of auto transport being used as a front for drug trafficking, but this is the first time I've seen any proof. I wonder if this marks a change in drug enforcement strategy?
Maybe he was just trying to figure out a way to compensate for lousy load prices and high fuel costs?
I've heard rumors of auto transport being used as a front for drug trafficking, but this is the first time I've seen any proof. I wonder if this marks a change in drug enforcement strategy?
Maybe he was just trying to figure out a way to compensate for lousy load prices and high fuel costs?
Driver database and bulletin board started for auto haulers.
Companies looking for experienced auto transport drivers will soon be able to search a database for a nominal subscription fee. Drivers wishing to post articles or share information are encouraged to try the new bulletin board (free: http://forums.autohaulershopper.com/
More on the PTS bankruptcy filing.
Tribune-Chronicle: "Car hauler files bankruptcy By LARRY RINGLER / Tribune Chronicle LORDSTOWN — Performance Transportation Services Inc. will continue to haul vehicles, including those made at the General Motors Corp. Lordstown Complex, after a Chapter 11 bankruptcy filing designed to help the sale of the company. The parent of Leaseway Auto Transport said Monday’s voluntary bankruptcy was required to sell the company to Allied Systems Holdings Inc. for $67 million."
Subscribe to:
Posts (Atom)