The change creates an opportunity for shippers who package their product in a manner which creates a denser shipping unit to possibly achieve a reduction in transportation charges for LTL rated shipments. Conversely, shippers who continue to use “Clothing, NOI, NMFC Item 49880, Sub 3″ on their bills of lading will now increase their rated class from Class 100 (see OLD Item 49880, Sub 3 prior to 12/25/10) versus the rated class of Class 250 (see NEW Item 49880, Sub 3 after 12/25/10).

In accordance with NMFC Rule Item 360, Sec. 2 (c), it is the responsibility of shippers to acquaint themselves with the descriptions of articles in the tariff under which they ship. Shippers must place the appropriate description, NMFC item number and Sub number on the original bill of lading.

Need help determining the density of your package? Visit the YRC Density Calculator page to learn how to calculate your shipment’s density. Completing the bill of lading with the appropriate information insures a properly rated invoice.

Interested in other helpful hints from the National Motor Freight Classification and Commodity Classification Standards Board? Check their website: www.nmfta.org

OLD:*

NEW:*

*The National Motor Freight Classification (NMFC) is a standard that provides a comparison of commodities moving in interstate, intrastate and foreign commerce.

* As referenced by NMFTA.

http://www.yrc.com/yrcnews/20110216-chart.html

Those changes and others were announced as a way to “generate improved returns for shareholders,” the company said in a statement, which the company hopes will save $60 million to $70 million annually beginning in fiscal 2013.

Other changes include an exit from Turkey and a restructuring of its stores in China, which includes a closing of its Best Buy stores but an expansion of its “Five Star” branded stores.

Best Buy also plans a restructuring of its domestic end-to-end supply chain processes.

“We’re pleased to continue our investments in the Best Buy Mobile and Five Star business models, which are profitable and have significant growth opportunities,”  Brian Dunn, CEO of Best Buy, said as part of the announcement.

“The actions we are taking are consistent with our strategy of driving businesses that have earned the right to additional capital while curtailing activities that we believe will not meet our return on investment thresholds.”

Resources:
http://logisticsview.com/index.php?option=com_content&view=article&id=3032:best-buy-plans-mobile-expansion-supply-chain-changes&catid=1:latest-news
http://www.dealerscope.com/article/best-buy-plans-mobile-expansion-supply-chain-changes/1

The Associated Press

8/4/2010

NEW YORK — Shares of trucking company YRC Worldwide Inc. fell Tuesday as investors worried over the challenges ahead, despite its report of a much narrower second-quarter loss.

The stock dropped 19.4 percent, or 8 cents, to 33 cents in afternoon trading. The stock has traded as low as 10 cents and as high as $6.18 in the past year.

The company, based in Overland, Kan., posted a loss of $9.5 million, or a penny per share, compared with a year-ago loss of $309 million, or $5.20 per share.

Revenue fell to $1.12 billion from $1.23 billion a year ago.

Analysts surveyed by Thomson Reuters expected a loss of 8 cents per share with revenue of $1.19 billion. The estimates typically exclude items.

At YRC’s national unit, shipments per day were down 18.6 percent. They were up 11 percent compared with the first quarter.

YRC’s regional unit reported shipments fell 3.1 percent from a year earlier, but leaped 13.8 percent from the seasonally weak first quarter. The company said the sequential volume growth pressured its liquidity.

Longbow Research analyst Lee Klaskow said he thinks “management is showing signs of progress that will help YRC return to profitability.” But he recommends investors “stay on the sidelines” because the company is still struggling. He said there is still a chance the company will be forced into filing for bankruptcy, as it nearly was late last year, but Klaskow noted he thinks the company has enough support to survive.

Kevin Jones of The Trucker staff can be reached for comment at kevinj@thetrucker.com.

The Associated Press

8/2/2010

THOMASVILLE, N.C. — Old Dominion Freight Line Inc. said it approved a 3-for-2 stock split for shareholders as of Aug. 9.

Shareholders will get certificates for the new shares, and instead of partial shares they will get cash based on the average of the high and low sales prices on the record date.

After the split, Old Dominion will have 55.9 million shares outstanding. It’s the fourth 3-for-2 split in slightly more than seven years. The company said the split will improve trading volume of its stock.

“We are pleased to declare this three-for-two stock split, which is our fourth three-for-two split in just over seven years. In making this decision, our Board of Directors considered our industry-leading financial performance together with our prospects for continued growth,” said David S. Congdon, president and CEO of Old Dominion. “This action, which we expect will improve the market liquidity and trading volume of our stock, reflects our board’s confidence in our ability to drive long-term value for Old Dominion’s shareholders.”

The shares rose 63 cents to $40.06 in morning trading.

The Trucker Staff

8/2/2010

WASHINGTON — The weekly retail on-highway diesel price was up $0.009 today, a small increase but the third consecutive week that the price has risen. The average today was $2.928 per gallon for the U.S. and was up $0.378 from one year ago.

The only region that saw a decline was New England (-$0.005) to $3.009 per gallon.

The least expensive price was found in the Gulf Coast region at $2.887 per gallon which was up $0.012 a gallon from last week.

The West Coast was highest at $3.071 per gallon, while California, which is not part of any region, topped all prices at $3.132 per gallon.

A three week comparison of prices may be found here.