BRIC is the new acronym for the economies of Brazil, Russia, India and China combined.  The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated by 2050 that these four economies would be wealthier than most of the current major economic powers.  The BRIC thesis postulates that China and India will become the world's dominant supplier of manufactured goods and services, respectively, while Brazil and Russia will become similarly dominant as suppliers of raw materials.  It's important to note that the Goldman Sachs thesis isn't that these countries are a political alliance (like the European Union) or a formal trading association - but that they have the potential to form a powerful economic bloc.  BRIC is now also used as a more generic marketing term to refer to these four emerging economies.  Due to lower labor and production costs, many companies also cite BRIC as a source of foreign expansion opportunity. 

 

These four countries and their economies will continue to have a major impact on the U.S. economy and our industry.  We will do our best to keep you informed from time to time. 

 

Here are two suggested links for additional information:

 

 

Cargo volume dropped further than expected in October, pointing the way to the lowest annual container volume at the nation's ports since 2004.  The downturn in the nation's economy has already cut into retail sales, and the traditional holiday peak is shaping up to be disastrously slow as the latest report from Port Tracker forecasts light volume for the rest of the year.  The monthly Port Tracker report released November 7 by the National Retail Federation and IHS Global Insight projects volume will total 15.3 million TEU for the year, compared with 16.5 million TEU in 2007.  That would be a decline of 7.1 percent and the lowest total since 2004, when 14 million TEU moved through the ports.  "Retail sales forecasts this year are the lowest they've been in more than half a decade, and the cargo volume we're seeing reflects those numbers" said Jonathan Gold, NRF VP for Supply Chain and Customs Policy. 

 

With more than 2,500 U.S. fleets having already declared bankruptcy in 2008, excess equipment has piled up as rarely before.  One unusual development is that many of those used trucks are being sold through auctions to buyers in Russia and Eastern Europe.  A flooding of excess equipment combined with the weak U.S. dollar has made U.S. trucks more attractive than they would otherwise normally appear to be.  For example, in its recent quarterly earnings statement, Ritchie Brothers (an auction company) , said that more than $500 million worth of equipment was sold using the company's web site during the first nine months of the year, an increase of 23% from a year earlier.  That included 93,000 customers from almost 180 countries. 

 

Will the West Coast war ever be settled?  No one is arguing over the clean air program, but instead focusing on the issue of truckers obtaining operating licenses, or concessions.  The ports clean-truck plan requires motor carriers to sign a concession agreement, pay fees and abide by port regulations covering hiring practices, proof of financial capability, off-street parking requirements, and truck safety and security.  Separate battles are under way in two venues:  Federal courts are addressing whether the ports' concession requirements are an illegal effort to regulate interstate commerce.  The FMC, meanwhile, is considering the concessions' impact on truck capacity and freight rates, and whether the concessions discriminate against motor carriers and constitute a refusal by the ports to deal with certain types of trucking companies. 

When you are dealing with time sensitive freight, the highest level of customer service is absolutely critical.  And that is exactly what Cornerstone delivered! 

 

(l to r) Seen here with the award are CS Memphis OTR Anita Vidal and  Kay Larose ; CS Sales Gregg Mitchell; and Mallory Alexander International Logistics Michael Malvezzi. 

 

Congratulations to all!

 

 

 

 

Sure they can move freight...but can they dress up? 

 

On Friday, October 31, CS Portsmouth VA held their first ever Halloween costume contest.