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Water Cooler Trivia
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August Trivia
The month of August is named in honor of Augustus Caesar.
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Greetings!
Industry updates are important to all of us. If you would like to receive an update on a topic not listed in this issue or receive more information on Cornerstone Systems, please contact us at 800-278-7677 or visit our website at www.cornerstone-systems.com.
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Poll Shows Major Shift From Truck to Intermodal
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Intermodal |
2nd Quarter Change Highest in 8 Years
Shippers shifted freight from all-truck modes to intermodal at the fastest pace in years during the second quarter, according to a closely watched survey by the Wolfe Trahan research group. Based on preliminary results of the survey conducted in July and early August, the shift from roads to rail occurred more than at any point in the last eight years, the analysts said, and shippers expect to shift more domestic cargo to intermodal in the months ahead. The full results of the survey are scheduled to be released before Labor Day.
During the April-June quarter, "shippers in our survey shifted a net 4.5 percent of their volume from truck to rail," said analysts Edward Wolfe and Scott Group, for "the highest net shift to rail in the past eight years of our survey."
Shippers also said they expect to move a net 3.6 percent more to rail from highway-only transport over the next 6-12 months, which is a pickup from recent surveys. In this year's first quarter, shippers projected a 3.2 percent net shift in the coming year, up slightly from last year's fourth quarter. For most of last year, surveyed shippers told Wolfe Trahan they only expected to shift a net 1.3 percent to 1.9 percent of their business away from road delivery to intermodal.
While rail industry officials often credit the shift to improving rail service times and investments to convert more of their rail networks to doublestack clearances, researchers found a strong correlation between modal shifts and oil prices.
When average quarterly oil prices were below $70 a barrel for West Texas Intermediate crude during 2009, the survey found freight shifting back to trucks and the delivery convenience they provide. But when WTI quarterly pricing moved above $70 per barrel in 2010 followed by a spike this year, shippers increasingly put more cargo aboard trains for the long-haul part of the trip.
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Transportation Industry News
Truckload Capacity Drops 9.5 Percent, CSX Builds Intermodal Terminal in Kentucky, UP Builds Intermodal Facility in New Mexico,
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Industry News |
Shippers had an easier time finding trucks last week after a two-week contraction in supply, according to the latest Longbow Research Truckload Barometer.
The weekly index, which rises when truckload capacity tightens, dropped 9.5 percent after rising 15.4 percent in late July and early August. Capacity remains tighter than a year ago, however, Longbow said. Year-to-date, the average index reading is up 31 percent over the same period in 2010. Overall, the index shows stability in the truckload market, with truck supply rising and falling this summer in a normal seasonal pattern. Truck capacity typically fluctuates as the produce season rolls from coast to coast, starting in the Southeast and ending in the Pacific Northwest. A survey by The Journal of Commerce found capacity at a group of large truckload carriers was only 1 percent lower than a year ago at the end of June.
CSX Corp. and Louisville, Ky., officials recently announced the Class I plans to establish a $15 million, 34-acre intermodal terminal in the city by early 2012. The facility will be located near Louisville International Airport between CSX's Osborne Yard and the Louisville Industrial Center. The project calls for installing track, pavement, drainage systems, and gates for inbound and outbound containers, and renovating two buildings into office facilities. CSX plans to provide daily service to the terminal connecting through the recently opened Northwest Ohio Intermodal Terminal in North Baltimore, Ohio. The Louisville facility will help address immediate market demands and provide capacity for growth, according to the Class I.
Union Pacific Railroad officials and New Mexico Gov. Susana Martinez marked the start of construction August 8 on an intermodal ramp and yard facility near Santa Teresa, N.M. The railroad began initial preparation work for the 2,200-acre site. To be completed in 2015, the $400 million project calls for building fueling facilities, crew change buildings, locomotive inspection tracks, an intermodal ramp and switching yard. Situated along UP's Sunset Route between Los Angeles and El Paso, Texas, the facility will be 11.5 miles long and one mile wide, and include 200 miles of track and 26 buildings for yard operations. The project is expected to generate 3,000 jobs during construction and create 600 permanent jobs. In addition, similar UP projects have stimulated the development of millions of square feet of industrial properties - including warehouses, distribution centers and storage buildings - within five to 10 miles of the site, according to the Class I.
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CS Supports 20th Annual Ace Foundation Outing
Benefits Children's Miracle Network Hospitals
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(left to right) Jim Chaltas, Tim Clay and Steve Gove |
Community involvement is very important to the employees of Cornerstone Systems. On August 11 President Tim Clay, Senior Vice President -Sales Jim Chaltas, and Vice President - National Accounts Steve Gove played in the 20th Annual Ace Foundation Vendor Golf Outing benefiting Children's Miracle Network Hospitals. This one day event has raised more than $43 million since 1991. Cornerstone is proud to sponsor and support the Ace Hardware Foundation.
The Ace Hardware Foundation was established in 1991 to serve as an umbrella over the charitable fundraising efforts of Ace Hardware retailers, Ace Hardware Corporation and Ace vendor partners for the benefit of Children's Miracle Network (CMN) and the American Red Cross. The Ace Hardware Foundation is dedicated to improving people's lives, be it through needed health care or disaster relief. Since, 1991, the Ace Hardware Foundation has helped to advance the health and well being of children by supporting Children's Miracle Network. In addition, Ace serves to improve the lives of individuals affected by disasters through the help of the American Red Cross.
Ace Hardware Foundation
Cornerstone Community Involvement
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Fuel Prices
The Energy Information Administration reports U.S. On-Highway Diesel Fuel Prices (dollars per gallon) every week.
8/15/11 Date Released
3.835 Average Retail Price
-0.062 (Down) Change From Week Ago
0.856 (Up) Change From Year Ago
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