kscarbel2

So the owner wanted a ridiculous sum. Meanwhile, the owner has his prized possession sitting outside where the elements are taking their toll. A tragedy for the preservation of America's truckmaking history.

Ford warning jolts the industry Automotive News / July 31, 2016 Abrupt shift from April's confident tone After boasting of record profits earlier in the year, Ford Motor Co. last week dropped a profit warning as jarring as concrete blocks hitting the bed of an aluminum pickup. Executives said the automaker is spending more than anticipated on incentives as U.S. vehicle demand softens, generating less revenue than expected in China and facing at least a $1 billion hit over the next three years from the Brexit vote in Europe. One Wall Street analyst, Adam Jonas of Morgan Stanley, called the abrupt shift in attitude a possible "watershed" moment for the industry, which largely had brushed aside bubbling concerns about plateauing U.S. sales and rising discounts. Many of the looming threats that Ford CEO Mark Fields laid out are issues other automakers also have to confront, but Ford is the first to acknowledge them so starkly. "We remain committed to our 2016 guidance, but we're facing risks to achieving that," Fields said after Ford posted a 9 percent decline in second-quarter net income, which fell short of Wall Street estimates. "We're seeing more pressure throughout the business for the remainder of this year, so as a result, we're calling for the second half of this year, and particularly the third quarter, to be much weaker than normal." The comments were a significant departure from Ford's confidence in April, when the company posted its highest quarterly pretax profit ever. "Essentially everything has improved," CFO Bob Shanks said April 28. "We're reconfirming all of our guidance to be as good as if not better than the record year that we had in 2015." Among the biggest surprises since April was the Brexit vote June 23, in which the United Kingdom elected to leave the European Union. Ford said it now sees a weaker U.K. market costing the company $200 million this year and as much as $500 million in each of the following two years. Ford results Change from Q2 2016 Q2 2015 Net income $1.97 billion –9% North America pretax profit $2.7 billion –5% Europe pretax profit $467 million 190% Ford Credit pretax profit $400 million –21% Revenue $39.5 billion 6% Cash flow $4.2 billion 121% Source: Ford Higher incentives Ford said it also has been caught off guard by U.S. incentives rising faster than anticipated. Higher North American incentive spending cost Ford $2.2 billion more in the first half than in the same period a year ago. Much of that was linked to the F-150, which came with little in the way of discounts during the model changeover in early 2015. But Fields said Ford has spent more than intended as automakers fight harder for market share amid slowing sales. Last week, Ford reduced its full-year U.S. sales outlook for the industry to between 17.4 million and 17.9 million vehicles, including medium and heavy trucks. That would equate to about 17 million to 17.5 million light vehicles, which still would rank among the industry's four best years. Its previous forecast was 17.5 million to 18.5 million, whereas industry sales last year including medium and heavy trucks were 17.8 million. So far this year, Ford Motor's light-vehicle sales have outpaced the U.S. market. The automaker sold 1,345,170 vehicles in the first six months, up 4.4 percent. That compares with an overall market increase of 1.4 percent, lifting Ford's share from 15.1 percent last year to 15.6 percent. U.S. sales of its top-selling vehicle, the hugely profitable F series, were up 11 percent in the first half, including a 29 percent surge in June amid an aggressive Chevrolet ad campaign showing the bed of Ford's aluminum-bodied F-150 pickup being gashed by a toolbox and a load of landscaping blocks. "The competitive environment has increased as growth has slowed," Fields said. "The bottom line is that we've seen a tougher pricing environment this [second] quarter, and we will face one going forward." Ford's warning contrasts with more-optimistic guidance from other automakers and suppliers recently. On July 21, General Motors raised its full-year earnings-per-share outlook, and on Wednesday, July 27, Fiat Chrysler upped its projections for revenue and earnings. A day later, supplier Lear Corp. said it would exceed its previous forecast for earnings and free cash flow. "A lot of obstacles' Shares of Ford, which had risen 10 percent in July, lost most of that gain Thursday, July 28, after the executives' warnings played into pessimism on Wall Street about the Detroit 3's potential for growth, even after GM's second-quarter net income more than doubled. "They've just got a lot of obstacles in front of them all at the same time," said David Whiston, an analyst with Morningstar. "It's not like we're on the verge of a recession, but the market wants to see growth, and they're not seeing it. There was already a lot of negative market sentiment around auto stocks, so Ford's news just gives more fuel to the fire." AutoNation Inc. CEO Mike Jackson criticized Ford during an earnings call on Friday for unreasonable stair-step incentive targets, saying the retailer's Ford stores had been given targets to increase sales in the third quarter by up to 40 percent. "Well, that's just not going to happen," Jackson said. "It's totally unrealistic, and we're not going to chase it. It is disruptive in the marketplace, and it causes irrational behavior, and there's a price tag for that." Jackson allowed that the situation could improve in three months if Ford's third-quarter targets clear inventory gluts while production is being cut. But the approach is still "not the best way to get there," he said. Jackson added that the industry is at a "crucial point" with three major automakers -- Ford, Nissan and Fiat Chrysler -- operating massive stair-step programs. Jonas, the Morgan Stanley analyst, said Ford's about-face shows that some of the plans put into place under former CEO Alan Mulally are backfiring as the market shifts away from the small cars that were widely seen as the industry's future only a few years ago. "Ford's prior leadership had made very large product and engineering bets on fuel efficiency across many areas including segments, weight reduction and engine downsizing," Jonas wrote. "While such initiatives are an important part of the long-term strategic planning of any global auto firm, Ford appeared to pursue such efforts with a greater level of zeal. These efforts proved successful in terms of share and profit in a $100 [per barrel] oil environment but maybe present a pricing and market share challenge in the current environment given changing consumer preferences, however short term." Fields said Ford has begun "an aggressive companywide attack plan on costs" to improve profits despite growing headwinds. Among the steps Ford will take are manufacturing cuts and improved "go-to-market plans" in the U.S. and China to generate more revenue, though the company would not say whether job cuts are possible. Ford already had scheduled five weeks of downtime in the second half of 2016 at the Michigan Assembly Plant in suburban Detroit, which builds the Focus and C-Max small cars. "We're going to have to deliver stronger actions on cost," Fields said. "We're going to have to go back and find every dollar of revenue that we can get."

At any time in the past, when General Motors was a force in the commercial truck segment, GMC was the brand that sold most of the trucks, rather than Chevrolet. Thus, I'm shocked that the Isuzu and Navistar trucks are going to be sold exclusively under the Chevrolet badge. Evidently, current GM management is clueless about its place in the commercial truck segment, not knowing that GMC is 'The Truck people from General Motors." Apparently, GM corporate now wants GMC to just be the Denali brand, home of absurdly expensive Ranger Rover-priced SUVs with liberal amounts of plastic chrome. A heck of a waste of brand value.

Bob, I hear what you're saying. But I can't imagine Ford exerting the time, money and effort to give the F-350/450/550 the F-150 aluminium cab, and then anytime soon replace it with a purpose-built medium truck cab. Ford certainly was a big player at one time in Class 7 and Class 8. But I don't sense that they want to be again. If they can throw a beefed up version of their diesel Super-Duty drivetrain in (mostly) Class 6s at minimal investment, and Avon Lake is building Super-Duty anyway, Ford can be in the US market medium truck game at minimal investment. One thought is, given the steel Super Duty cab is long bought and paid for, it can't cost them much to produce it even at low volumes. About Class 4/5, you are exactly right Bob. Businesses need a cost-effective work truck.

"no bodys having any trouble with thouse wounderful detroits" RW613, I never said that common rail can't break. I will say the Bosch and Cummins-Scania XPI common rail systems rarely do. I can't speak for the cheap-way-out Delphi retrofit common rail that Volvo is launching. But if this gentleman absolutely wanted to trade a Mack for a Mack, I gave him sound advise to pass up the outgoing Delphi unit pump injection and wait for the new common rail. My friend, it's getting expensive and challenging to operate an older (Mack-made) truck. Any parts you have to buy from Volvo cost 3 to 10 times more than they did from the former Mack Trucks. And as demand declines, parts availability from the aftermarket is declining as well. As much as I like seeing a "real" Mack on the road...................

My friend, I apologize for.....somehow......giving you that "feeling" (perception). The Bosch and Cummins-Scania XPI common rail systems is twice as good as the unit pump injection systems from those two makers it replaces, and 3 times better than the cheap and problematic Delphi unit pump injection that Volvo buys. Bosch and Cummins-Scania was at the forefront of both technologies. We launched XPI xtra-high pressure common rail injection way back in 2007. I've been experiencing it first hand since then.............not via websites.

Because social welfare Germany and the Works Council (union) won't allow VW to slim down to the size it should be*, it's only alternative is to increase profitabilty by making "cheaper" cars and sell them at the same high prices. Thus, the MQB platform was created. It's not a step forward in engineering and technology, rather, it's a "cheaper for VW to build" platform, engineered to be universally slipped under most of their models to reduce their per unit cost. You pay the same price as always, but receive a "cheaper" car. For that reason alone, I would not purchase a Volkswagen. * VW and Toyota build the same number of cars annually. Toyota does it with 300,000 people, VW with over 600,000. Though owned by Volkswagen, I would purchase a Skoda. Great cars. Though they have VW platforms, they are a cut above the VW brand product. VW allows Skoda a great deal of autonomy, because the unit has great management with strong profitability. http://www.skoda-auto.com/en Compare your Sportswagon with the Octavia Combi RS............http://www.skoda-auto.com/en/models/new-octavia-combi-rs/ If Ford brings the global Ranger and Everest to the US market, and doesn't ruin them by adding extra U.S. market features like engine fire mode, I'll be seeing you in the showroom.

This was the frustrating environment at Mack Trucks' Bridgewater, New Jersey, parts distribution center.

Mack Lanova-powered "NR" . .

Wow, there are no many.............(their discomfort with Volvo compelled them to diversify) The boys at Shealy.............http://www.shealytruck.com/ Triple-T...................http://www.wemeantrucks.com/ The great folks at Excel (formerly Virginia Truck Center)............http://www.exceltruckgroup.com/ You can check this dealer locator for more.............https://www.freightlinertrucks.com/Dealers/United-States/

The 567 has the new cheap cab (cheaper for Paccar to build) that is shared with Kenworth. The new range trucks, which are cheaper to build, restore profitability that was falling off. The new 567 that looks like a toy......http://www.peterbilt.com/products/vocational/567/ The traditionally built 367 with the signature cab........http://www.peterbilt.com/products/vocational/367/

When Mack sold the F-Model, Cruise-Liner and Ultra-Liner, they were our best trucks in many ways, particularly the extremely advanced Ultra-Liner, due to the spacious cab, unmatched visibility and unmatched drivetrain access. There "is" a very good reason why the rest of the world largely uses COEs. It's a more advanced design than the conventional. If you park a Pinnacle next to a Streamline, Actros or TGX, it will really open your mind. Come to the IAA int'l truck show in September......you'll fly home with a whole new thought process.

If you like the 122SD, there are plenty of mega dealers selling both Mack and Freightliner. And they have nothing but good things to say about the Daimler organization (unlike what they have to say about Volvo/Mack). The Cascadia is a cutting edge truck. However, it's not the ideal fit for your described application and personal preferences. I don't care for the direction Kenworth has gone. With Peterbilt, as much as I despise the new-school 567, I think the world of the old school 367. Again, if anyone has time, make a point to tour Peterbilt's Denton plant. When you watch them build a 367, you will be pleasantly surprised to see a truckmaker still builds trucks "like they used to". It can still be spec'd to be a 20 year truck. -------------------------------------------------------------------------------------------------------------------------------------------- A word about the Cascadia: . ------------------------------------------------------------------------------------------------------------------------------- A quick look at the 122SD .

Zenon Hansen injured by riding mower The Daily Mail (Hagerstown newspaper) / May 31, 1975 Zenon C. R. Hansen, retired board chairman and chief executive of Mack Tracks Inc. was listed in guarded condition at the Sacred Heart Hospital Center in Allentown. Pennsylvania, after being thrown from a riding mower at his home on May 28. Hansen, 65, of Macungie, Pennsylvania, sustained a fractured left wrist and right elbow, and first and second degree burns to both ankles when the steering mechanism on his mowing tractor broke and the machine overturned and caught on fire.

I apologize if I troubled you. I'm not telling a gentleman not to buy a Mack. Realistically, I'm telling him not to consider buying a Volvo unless it has the new common rail-equipped engine. "If" I understand you correctly, when I posted about how stagnant the Mack brand is with sales, it's because in the days of the former Mack Trucks, an organization whose leadership "knew something about trucks" (as the old man used to say), we........set the world on fire. Yes, even the superb Detroit engines can have a bad day. But anyone on BMT who runs the Detroits, not just Bullhusk, will tell you what great engines they really are.

Regardless of what happened at Macungie, I'm glad that someone gave him a break. As an outsider American (non-Swede) working under the Volvo environment, he is probably rediscovering life again. I hope he enjoys his new opportunity and it works out for the long-term. Philadelphia-based private equity firm Versa Management bought Hatteras/CABO from Brunswick Corporation (Mercury Marine’s owner) in August 2013. http://www.hatterasyachts.com/ http://www.brunswick.com/brands/

Hatteras Yachts names ex-Volvo/Mack executive Wade Watson COO Boating Industry / July 21, 2016 Hatteras/Cabo Yachts, LLC announced that Wade Watson has joined the company as chief operating officer. Reporting directly to Hatteras President and CEO John Ward, Wade will oversee daily operations at Hatteras’ manufacturing plant in New Bern, N.C., with a focus on improving manufacturing operations. Wade has more than 20 years of manufacturing, aftermarket, quality control and management experience. Wade’s previous experience includes several years working for Volvo AB, most recently as vice president and general manager of its Mack Trucks division. Prior to that, he served as vice president of operations of Volvo Powertrain – North America, where he previously had served as vice president of quality and customer satisfaction. Wade said joining Hatteras brings together two of his lifelong passions – the pursuit of excellence and a love of boating. “I am extremely excited to join the Hatteras Team in New Bern,” he said. “I spent most of my formative years in Florida living on the Gulf Coast and have been on or around boats for much of my life. My professional life has been mainly driven by leading complex operations on journeys to operational excellence.” One of Wade’s first goals at Hatteras is to improve operating efficiencies through systematic waste elimination, as well as building upon the strengths of Hatteras’ talented workforce to shorten lead-times from order to delivery. “My experience as an operations leader within the global automotive sector has afforded me the opportunity to learn best practices from all over the world,” he said. “The combination of the time-tested craftsmanship for Hatteras with the latest operations/manufacturing techniques should prove to be an unbeatable combination. It is a real honor to be a part of such an iconic brand at such an exciting moment in its history.” “We are excited to have Wade on our management team,” said Ward. “His dedication to operational excellence, combined with his love of boating, will serve us well. I look forward to continued growth at Hatteras with him by my side.” .

After 5 owners in 12 years, a former Ford glass plant finally has a stable owner Automotive News / August 1, 2011 Welcome to a huge and until now unwanted factory in the North American auto industry. It is the new home of Carlex Glass in Nashville. How unwanted was it? Try five owners in 12 years. Which is remarkable considering that for decades, without interruption, the plant has been supplying windshields and windows for some very popular U.S. light vehicles, among them the Ford F-150 pickup and Escape SUV. But today it's different. Now that the storm of the recession is over, now that less committed players have vacated the field, Carlex Glass America, the U.S. operating unit of Japan's Central Glass Co., is moving in. Carlex is one of many established suppliers that aim to turn the wreckage of the recession into opportunity by investing in new technology for the long term. The Japanese giant couldn't have picked a less likely spot. The dowdy, half-century-old plant sits on a hill overlooking downtown Nashville. Three brick smokestacks tower overhead, two of which were taken out of operation years ago. Inside, long lines of huge, gothic black machinery resemble locomotives abandoned in a dim train station. The lights are out over what seem like acres of wooden shelves holding thousands of sheets of dusty glass. The roof leaks. New methods, complex shapes But Carlex thinks this is the starting point for a play to expand its North American market share of windshields and side windows for cars and trucks. Carlex peered into the neglected behemoth and saw a dusty jewel. It has begun investing $100 million to clean up the plant, modernize its equipment, demolish traces of its obsolete past, boost its capacity and use it to solicit more North American business -- ideally from the Detroit 3. The company is betting on new technology, including a modern process called press-form. Unlike gravity-sag windshield shaping, the new process will permit greater manipulation of glass and provide the ability to handle more creative vehicle designs. The investment also will allow the plant to make thinner glass, according to customer desires. Thinner glass means less weight, which improves fuel economy. The state of Tennessee is kicking in more money to help Carlex retrain and update the plant's 450 employees -- a fraction of the 3,500 workers who once produced windshields and windows for Ford Motor Co. there. "Things are absolutely going to change here," declares Jim Shepherd, Carlex's executive vice president, who with his wife is moving to suburban Nashville from Detroit. Sitting in his barren industrial office at the plant, with little more than a gray metal desk and a couple of metal-frame guest chairs from the era of black-and-white TV, Shepherd motions around the room. "We're going to knock down these walls. We're going to get away from this 1950s atmosphere." Carlex will make the plant its North American headquarters, moving personnel there from the Detroit area, along with the suburban Detroit work force of Carlite, its newly acquired aftermarket auto-glass company. "This place has been neglected, and we're going to fix that," Shepherd says. "The employees here might be a little jaded and uncertain about us, having been through so many owners who wanted to get rid of the business. But they will soon see we're serious. "The biggest difference for us is that we're in the glass business. The others who came before weren't. They had their hands full with bigger concerns. Our only concern is making glass and windshields, and we believe this is the place to do it." That, more or less, is the status of the 54-year-old glass plant. But how the factory ended up at this juncture is a story that mirrors almost every trend that has come and gone in U.S. auto manufacturing for the past quarter century. The industry's evolution from Eisenhower-era Big 3 hegemony to the Japanese invasion of the 1980s, the U.S.-Japanese joint-venture supplier bubble, the automaker divestitures of parts operations, the rise of megasuppliers in the late 1990s, the private-capital supplier wave -- it's all there in the run-up to Carlex's acquisition of the plant in April. It all came and went. The operation, originally created as the Ford Glass Plant, already was three decades old when Gary Casteel moved from Muscle Shoals, Ala., to work there as a young pipe fitter in 1988. As the in-house producer of much of Ford's North American windshields and windows, it was one of the biggest auto glass plants in the industry, with 1.8 million square feet under roof. In the 1950s and 1960s, three enormous float lines heated the sand to 3,000 degrees in ovens that burn so bright they can only be viewed through hand-held black glass panels. One of the Nashville plant's most notable features is that, unlike most glass factories, it houses the entire process. Workers bring raw sand in through one door, melt it and cook it into flawless glass. They then shape the glass, finish it, package it and ship complete windshields out the other door to vehicle assembly lines. "I really don't know of any other plant in America that does it all," Casteel says. Casteel was elected to the plant's UAW Local 737 bargaining committee in 1990. By that time the industry was under unfamiliar new pressures. Detroit was struggling through its second recession in a decade, and domestic market share was slipping away to import brands. Ford was eager to find new cost reductions and operating efficiencies, even if it meant divesting itself of some of its large in-house parts operations -- an issue the UAW resisted. Today Casteel is director of the UAW's Region 8, a vast union territory stretching from Mississippi, Florida and South Carolina up through Tennessee and Virginia and into Pennsylvania, Maryland and Delaware. "That plant always ran well," Casteel says. "We always had good labor relations." Japanese partner But Ford's component management team informed the union in 1990 that the glass operation needed to reach beyond Ford business. A new corner of the industry was rapidly emerging in the form of Japanese automakers assembling vehicles in U.S. plants. Nissan Motor Co. was expanding car and truck production just a few miles away in Smyrna, Tenn. Honda Motor Co., Toyota Motor Corp. and others were opening assembly plants around the lower Midwest and Southeast. But to gain glass business from such Asian transplants, Ford would need to form a separate joint-venture supply company in a deal with its large Japanese competitor, Central Glass. "They told us: "We don't want to do anything to hurt the glass plant here,'" Casteel recalls. "But they said we really need to do this deal with Central to get more business." The Ford-Central hookup was named Carlex, and the venture opened a separate state-of-the-art window fabricating plant in Vonore, Tenn., on the state's eastern edge. Unwanted orphan By the end of the 1990s, the industry was evolving again. This time, megasupplier mania was in the air. Individual component suppliers were merging and being acquired to roll up into multipart module and system supplier groups. The larger ones hoped to provide a sort of one-stop shopping for automakers, responsible for entire vehicle systems, including anything from a car's rolling chassis to its brakes and tailpipe and steering parts. Amid great hoopla, General Motors spun off its vast global parts operations into an independent publicly traded entity, Delphi Corp. Ford similarly spun off its huge parts operations, including the Nashville glass plant, into a public megagroup dubbed Visteon Corp. [huge mistake] Delphi went public in 1999 and Visteon in 2000 with visions of a bright future. But the ventures soon collapsed. In 2005, Delphi filed for Chapter 11 bankruptcy. Visteon followed in 2009. By way of restructuring, Visteon identified 23 unwanted properties and business segments to unload -- among them, the Nashville glass plant. That decision in 2005 pushed the windshield factory off to new ownership by Automotive Components Holdings LLC, a safeguarding umbrella that sought yet another new owner. A former Automotive Components Holdings manager, who asked not to be named, said the group's sole function was to "hold" and operate the glass plant with the other unwanted plants until viable buyers could be found. Casteel also lent his time to finding a buyer for the plant. "We approached everybody," he says. "Nobody wanted it. The problem we encountered was that the only people who considered it were just after its book of Ford business. They thought they could move the business into their own plants and then close Nashville. We weren't going to let that happen." Private equity buyer The buyer who finally emerged in April 2007 was hardly a familiar auto industry name. Robert Price, a wealthy investor from Tulsa, Okla., had made his fortune in commercial real estate and oil and gas investments. According to press reports at the time, Price was at least partly motivated by his desire to save the jobs at Ford's other glass factory in Tulsa. The older Nashville plant, along with a third glass operation in Juarez, Mexico, simply came with the package. Price entrusted the operations to a newly formed entity first called simply Glass Products, and in 2008 renamed Zeledyne LLC. Zeledyne management drew from Ford's ranks of component executives, and the group took possession of the plants in 2008. The deal wasn't unique; Price was part of a trend sweeping the supplier industry. Private investment companies were acquiring distressed parts makers at bargain prices, running them with independent management teams and hoping to use private capital to improve their profit picture. Efforts to speak with Price or other members of the venture were unsuccessful. But Price's timing couldn't have been worse. By mid-2008, the U.S. economy was teetering. By the third quarter, a banking crisis had locked up the capital markets, threatening business plans in all industries. By 2009, Zeledyne was frozen in place, along with most of the rest of the auto industry. Although the new team invested in Nashville enough to keep it operating, by 2010, the plant was again for sale. Fresh investment at last Carlex's Shepherd declines to say how much Central paid for the Nashville plant this year, noting that its acquisition did not include the Tulsa or Juarez factories. It did include Zeledyne's aftermarket glass business, Carlite. Casteel believes the Japanese owner is in a good position to take the plant into new business deals. After 50 years of operation and more than 20 years of soliciting outside business, the plant no longer is owned by Ford. It no longer is owned by a supplier in financial trouble. It no longer is owned by a private investor with an unproven track record. It no longer is being starved for capital improvements. It no longer is in jeopardy of being closed. "We think we can help them get into GM and Chrysler now," Casteel says. "These guys are serious global players. And they need this source of glass. I'm pretty excited about the future there. We've all been through a lot with that plant."

Ford Brazil sells Class 5 to Class 8 Cargo product, from 8 to 31 metric ton rigids, plus tractors. Ford Otosan only sells Class 8, with rigids from 18 to 41 metric tons, plus tractors. Having said that, all the engineering occurs at Ford Otosan, the home of Ford Truck's global design center.

Commercial Motor TV - sponsored by DAF Trucks / July 28, 2016 .

Street Insider / July 28, 2016 GE announced toay that it has signed and closed the sale of a 14.4% limited partner interest in Penske Truck Leasing Co., L.P., a full-service truck leasing, rental, and logistics business, to Penske Automotive Group, Inc. The sale represents ending net investment (ENI) of approximately $0.4 billion and leaves GE with a 15.5% limited partner interest in the business. In addition to the interests owned by Penske Automotive Group and GE, Penske Truck Leasing is owned by Penske Corporation and Mitsui. “As we continue to execute on our strategy to sell our businesses that aren’t linked to GE’s industrial businesses, we’re pleased to announce this agreement for the sale of a significant portion of our remaining stake in Penske Truck Leasing to our long-time partner, Penske Automotive Group,” said Keith Sherin, GE Capital chairman and CEO. “Penske Truck Leasing is a leading provider of truck leasing and rental services in North America and is a well-established global provider in the logistics business.” As previously announced, GE is focusing on its high-value industrial businesses and is selling most of GE Capital’s assets. GE will retain the financing verticals that relate directly to GE’s industrial businesses. Including this transaction, and since the announcement in April, 2015, GE Capital has signed agreements for approximately US$189 billion and has closed approximately US$168 billion of those deals. GE Capital plans to sell approximately $200 billion of GE Capital businesses worldwide and expects to have largely completed the process by the end of 2016. GE Capital believes it is on track to deliver about $35 billion of dividends to GE under this plan, subject to regulatory approval.

Scania Group Press Release / July 28, 2016 Scania’s sales reached an all-time high at SEK 50.1 billion and the company showed a strong operational performance in the first half of 2016. Summary of the first six months of 2016 Operating income amounted to SEK 1,348 m. (4,737), negatively impacted by a provision of SEK 3.8 billion related to the European Commission’s competition investigation Operating income excluding items affecting comparability rose by 9 percent to SEK 5,148 m. (4,737), resulting in an operating margin of 10.3 (10.1) percent Net sales rose by 7 percent to SEK 50,110 m. (46,798) Cash flow amounted to SEK -492 m. (1,106) in Vehicles and Services Comments by Henrik Henriksson, President and CEO “Scania’s sales reached an all-time high at SEK 50.1 billion and the company showed a strong operational performance in the first half of 2016. Higher vehicle volume in Europe and increased service revenue had a positive impact on earnings while currency rate effects and lower deliveries in Latin America impacted negatively. The high investment level related to Scania’s investment in a new truck generation also had an impact on earnings. Scania’s market share in Europe continued on a high level and amounted to 17.1 percent during the first half of 2016, compared to 17.2 percent in 2015. The replacement need and economic situation in Europe continues to have a positive impact on demand for trucks. The weak performance continued in Latin America, primarily related to Brazil. In Eurasia, Russia now appears to have bottomed out at a low level. However, the outlook for Brazil and Russia is still uncertain. In Buses and coaches, the demand trend is positive, mainly due to strong order bookings in Mexico and Iran. In Engines, demand fell in all regions. Service revenue amounted to SEK 10.5 billion during the first half of 2016, an increase of 9 percent in local currency. Financial Services reported operating income of SEK 506 million and credit losses remain at low levels. In August Scania will initiate the launch of its largest ever investment − the new truck generation. It constitutes an important part of Scania’s ambition to become a leader in sustainable transport, where partnerships and continued digitalisation will play an increasingly important role. In light of the European Commission’s Statement of Objections and recent developments in the competition investigation, Scania is now, in accordance with relevant accounting principles and a prudent approach, making a provision of SEK 3.8 billion. Scania has fully cooperated with the European Commission during the investigation but contests the Commission’s view. The company will fully exercise its rights of defence in the ongoing investigation.” Scania Interim Report January-June 2016 - http://mb.cision.com/Main/209/2051752/544231.pdf

I'm not following you Bob. Ford has just finished spending time, money and effort to create a variant of the aluminium F-150 cab for the Super-Duty F-250 thru the F-550. Thus I expect that's the F-250/350/450/550 cab we're going to see for at least 5 years....if not far longer. And the F-650 and F-750 retain the bought-and-paid-for steel Super-Duty cab. Advertised as "all-new for 2016", I don't expect to see any major changes for probably 5 years. I doubt Ford would allocate funding for a new medium-duty cab anytime soon, when model year2016 is all-new, given the small number of trucks they sell. Money is allocated to where Ford gets the most return.........and that's not medium trucks. They sell them for corporate face. Ford is building medium trucks now in the cheapest way possible, using in-house pickup truck drivetrains.

In conversation with Daimler leader Wolfgang Bernhard Truck News / July 28, 2016 North America has proved a disappointing truck market so far this year with the most recent Class 8 intake standing at a multi-year low. Wolfgang Bernhard, member of the Board of Management and responsible for Daimler AG’s truck division, is sanguine about this; North America rises and North America falls and there’s not an awful lot to be done about it. “When we look back in the history of the North American market we see big market swings and nobody is ever afraid of the upside,” he explains. “Everybody is afraid of the downside and everybody takes the upside as a present and it’s a huge punishment to suffer through downside. We looked at the pattern of the past, we see that when overswing of historic averages is biggest, the underswing is also huge,” he continues. “So in a way, we’re glad to see that after the moderate overswing that we had last year, we see that the that the market is coming down a bit and we believe the silver lining in that is basically that if we don’t overswing so much we don’t have to suffer the underswing so much. “And let’s be honest here. The market that we’re seeing this year which will be north of 350,000 trucks (Classes 6-8) and that is still a reasonable market in historical terms. Sure it’s nothing you write home about and it’s slightly below historic averages, but still a good market nonetheless, and I’m not sure we should be complaining about it. And rather than having huge up and down swings over time, I’m happy to live with a small oscillation around historic averages. “And on top of this, in the special case of North America and Canada, I have to say that we can compensate some of the market downturn with gaining market share. We are increasing our market share and this is allowing us to position the organization strongly.” Bernhard sees the current interest rate environment as a problem, and argues that the global economy needs to pursue a return to a more normal rate level. While this may seem slightly counterintuitive coming from a supplier of capital equipment, he sees the broader macro impact of low and zero rates as being one that is negative. “At some point of time, we have to find a way back to the reasonable interest rates,” he says. The present situation is a drag on of financial structure; it is very difficult for pensions and insurers to find assets with adequate returns and it seems too that there is a constant danger of the misallocation of resources. “I believe that at some point we have to get back to reasonable interest rates and, yes, there will be some repercussions. So if the Fed starts to raise interest rates it will make the situations in South America and in some emerging countries, more difficult. However, I believe that at the forefront of those countries is not an economic problem. It’s a political problem and unless these issues are not addressed the economy will not thrive. The decisive factor is not one of the interest rate in America or in Europe. The decisive factor is the political, the structural reforms that needs to be taken. I’d argue that the same thing applies to Greece as well.” Looking forwards, the agenda within the truck industry at present is constituted of considerations of GHG regulations and the rather more nebulous issue that is connectivity. To the first point, Bernhard is at pains to stress the need for fitness for purpose in terms of regulation, and adds to this the view that a regulatory framework that rewards GHG reduction is one that is ultimately self-perpetuating in a positive manner. “Regulators tend not to be deeply ingrained in the particularities of this industry,” he says. “That means, they see the complete value chain of transportation but tend to focus only on the vehicle aspects and not other factors. And so while we are looking at – for example – a 10-20% difference between the best and the worst driver, they are fixated on expensive technical solutions to get at the 0.1-0.2% of potential – for instance in powertrain-derived reductions.” He points to the experience of North America – where a regulatory framework mandating GHG reductions is now in place – as proof positive of the value of market forces. “I believe in the power of market forces as a force for good in this industry,” he says. “The driver of progress on the CO2 side is being driven by our customers and their economic needs on the one hand, and our technology on the other hand. Looking at North America, what are the major drivers for the CO2 reductions that we see there? Customers were asking for it and paying for it. It is a business case for them, that’s what drives it. “Secondly, the technology that enables it. What is it? It is an integrated powertrain. The departure from a component truck into a world of integrated powertrains where you have instead of a manual, an automated transmission, where you have highly sophisticated engines, and improved axles that fit the overall package as well as improved aerodynamics. Did the CO2 regulation of US force that to happen? I don’t think so. This was done through innovation that we had, and we innovated not because of any GHG regulation but because it is what our customers expect us to do to improve their cost of ownership.” The customer relationship is also at the center of the move towards connectivity. Bernhard is quick to point out that the idea is not a new one – Fleetboard and Detroit Connect are both well-established examples of a connected vehicle and both are profitable in their own right. But he sounds a caveat: “I would caution to say that for us, connectivity will be a major stream of revenues and of income,” he says. “Even in our boldest dreams when we calculate this through, we cannot see anything getting close to what we have with the truck itself. “We believe that this is something that if you don’t have it, you will lose your mainstream revenue,” he continues. “It is both a threat and an opportunity at once. If you are at the forefront, you will be able to gain market share. You will be able to build relationship with your customers that go beyond contract and legal obligations, and with that, you solidify your relationship with your customers, and if you grow a reputation of a leader in that industry, you will always have the upper hand. I believe rather than having this as a major source of income, it is a vital, crucial enabler to make sure for our shareholders that the business as it is stays in place.”

API: Fleets need to be aware of new engine oils, heed OEM recommendations Commercial Carrier Journal (CCJ) / July 28, 2016 When licensing and distribution begin for the two new heavy-duty diesel engine oils in December, it’s paramount for fleets and owner-operators to be aware of the new categories and ensure they’re using the proper engine oil in their equipment, says a representative from the American Petroleum Institute. “New oils are coming. They’re coming very soon, and you need to make sure you know which one you’re supposed to use,” said Kevin Ferrick, manager of API’s global industry services certification programs. “Oils are different enough and unique enough today that you need to be sure you’re buying the right oil.” Ferrick spoke to CCJ editors in Tuscaloosa, Ala., on Thursday, July 28. Licensing for the two new diesel lubricants, CK-4 and FA-4, begins Dec. 1, 2016, which is the first day oil marketers like Shell Rotella, Chevron Delo and Mobil Delvac can sell lubricants officially stamped as CK-4- and FA-4-certified by API. CK-4 oils will essentially replace the current CJ-4 oil spec on the market today and will be backwards compatible with diesel engines currently using CJ-4. FA-4 will be much more limited in its use. It will be recommended almost exclusively for 2017 year-model engines and newer, and it will only be recommended for long-haul applications. Ferrick strongly advises fleets and owner-operators to check with their engine’s manufacturer to ensure they’re using the oil recommended for their engine when the new products come to market. Ferrick says CK-4 oils improve upon CJ-4 oils by better protecting against engine oxidation, oil shearing, oil aeration and degradation of the oil due to soot. CK-4 is also expected to improve fuel economy and generally work more efficiently with modern engines. Ferrick says consumers using older engines could see engine life benefits from using CK-4 instead of CJ-4, which will still be available following the licensing of CK-4 and FA-4 products. FA-4 oils offer the aforementioned benefits of CK-4 oils, but they’re designed to increase fuel economy in new engines. FA-4 oils are deemed low-viscosity oils, as they’re “thinner” (less viscous) than CK-4 oils and therefore allow engine parts to operate more efficiently. FA-4 oils have been proven to protect engines as well as CK-4 and CJ-4 oils, despite their thinner design. The API certification procedure is designed to ensure FA-4 oils protection engines just as well as their higher viscosity counterparts, Ferrick says. The development of the new lubricants was spurred by modern engine design and federal regulations requiring reduced greenhouse gas emissions. Today’s engines run hotter, are more powerful and more efficient than engines of yesteryear, and engine manufacturers requested new lubricants to fit their new needs. New emission regulations taking effect next year call for a reduction in greenhouse gas emissions, primarily emissions of carbon dioxide. To achieve those emissions reductions, fuel economy needs to be boosted, Ferrick says. FA-4 oils were designed to help engine makers reach those fuel economy goals. Ferrick’s key message to fleets and owner-operators regarding proper oil use is simple: Check with your engine manufacturer. “It’s not something you get cute about,” he said. “You need to be sure you’re using exactly what’s recommended. It’s that precise now. Not all oils are the same. You could end up with lower performance if you get the wrong oil.” For fleets that buy in bulk, Ferrick warned against mixing CK-4 and CJ-4 oils. Fleets need to empty their CJ-4 tanks before filling them with CK-4. “You don’t need to clean it or flush it,” he says. “But you don’t want to mix them. Fleets need to draw their tanks down before adding CK-4 or FA-4 oils.” To prepare for the launch of the new products, Ferrick says API is trying to get the word out to fleets, owner-operators and technicians across all outlets. API has a site dedicated to helping users choose the right oil — dieseloilmatters.com — along with a marketing and advertising campaign built around the same message: Diesel oil matters. Oil containers like drums and off-the-shelf bottles will also feature the new API donut for CK-4 and FA-4 oils. The CK-4 donut will look just like existing donuts — a plain white circle that designates them as CK-4. The donut for FA-4 lubes, however, will be slightly different. The top half of the donut will be split into two quadrants, and the FA-4 designation will be in reverse type or will feature a splash of color.