Opinion

Rolf Lockwood Author Gravatar Image Avatar photo

VW, Navistar: What’s the Deal?

by Rolf Lockwood

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.

John G Smith Author Gravatar Image Avatar photo

Trust Your Co-pilot: Bendix Wingman Fusion keeps virtual eyes on the road, foot upon the brakes

by John G Smith

First, a confession. I am a terrible passenger. My right foot is always pumping against the floor mat whenever I find myself riding shotgun. A knot forms in my stomach when someone takes anything other than my favorite route. When the Today's Trucking team carpooled to a trade show earlier this year, I was quick to reach for the keys before anyone else had the chance.