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New Warning About Seasonal Cargo Theft Risks
AUSTIN, TX -- As the North American supply chain prepares to enter its busiest season, organized cargo criminals are gearing up to maximize opportunities to seize high-value shipments that will saturate the target-rich environment encompassing the remaining months of the year.
Trailer Manufacturer Manac Going Private
SAINT-GEORGES, QC-- Canada's largest trailer builder, Manac, has been transferred from public to private ownership. The announcement was made Thursday. The original founding Dutil family will be among the consortium of new owners. Media reports say the Dutils will be investing $36 million in the private company while Quebec's pension fund manager, its Quebec manufacturing fund, a labor fund and Investissement Quebec are providing $104 million in equity investments and loans. Manac was spun off from the Canam Manac Group in 2004 and taken public in 2013. Charles Dutil, Manac president and CEO, will remain in his current position.
Trucking Conditions Rebound, Best This Year
BLOOMINGTON, IN -- While business conditions in Canada are shaky, the situation in the U.S. for the trucking industry is the best so far this year, according to the freight transportation forecasting firm FTR. Its just released Trucking Conditions Index (TCI) measure for June rose from May, jumping 56% to 7.66, hitting the highest level of 2015. While freight growth slowed during the second quarter of the year, FTR said rates continue to show growth and margins are still good. Also, freight growth is on track for the sixth straight year of annual gains. It expects regulatory conditions and a continued economic recovery to fuel an accelerating index during 2016.
Heading Southbound? Cargo Thefts on the Rise
JERSEY CITY, N.J. - If you head southbound to pickup or deliver some freight, then beware once you have take possession of it because a new report says cargo thefts are increasing. From April through June in the U.S., cargo thieves stole more than US$19.5 million in freight from the country's supply chain, according to theft prevention and recovery service CargoNet. Nationwide, cargo theft increased 8 percent in second-quarter 2015 year-over-year. The total estimated value of stolen cargo was up US$8 million when compared year-over-year. The average cargo theft was worth about US$168,308 in stolen goods, but some categories such as electronics were much higher. The median theft was worth US$338,464. April had the most recorded cargo thefts in the U.S. at 70, then decreasing in May with 67 incidents and 57 in June.
Details Released on Ontario Retirement Pension Plan
TORONTO -- Ontario premier Kathleen Wynne announced on Tuesday the details on the design of the Ontario Retirement Pension Plan (ORPP) that the government says is designed to address the 3.5 million workers in the province who do not have a secure workplace retirement pension plan.
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