kscarbel2

Prime Mover Magazine / January 21, 2015 Beth E. Ford has been elected to the Paccar Board of Directors, succeeding John M. Fluke Jr. effective 21 April 2015. “Paccar is very pleased that Beth Ford will be joining the Board. Her years of management experience in international business, logistics and manufacturing will benefit Paccar in its global growth,” said Mark Pigott, Paccar Executive Chairman. “The Board thanks John Fluke for his 30 years of excellent service to the company. John has provided superb judgment and counsel as a director and we will miss him.” During her 25-year career, Ford has held operating and senior leadership positions with global companies in industries including chemicals, food and beverage, publishing and oil and gas. She is currently a director of Clearwater Paper Corporation.

Go by Truck / January 20, 2015 Pennsylvania has awarded $7.3 million in funding to help 18 companies switch their heavy-duty fleets to natural gas. The grants are part of a three-year program known as the Pennsylvania Act 13 of 2012, which provided $20 million in grants to increase the use of natural gas in heavy-duty vehicles in the state. This was the third and final round of awards under the program. The 18 recipients were chosen from a pool of 37 applicants. The companies that receive the money must pay at least 50 percent of the costs to purchase each new natural gas vehicle or to retrofit existing vehicles. The maximum award per vehicle is $25,000. The conversion could involve either compressed natural gas or liquefied natural gas, as well as bi-fuel vehicles, as long as the trucks weigh at least 14,000 pounds. In addition to providing the grant money, Act 13 included provisions to help the state develop its oil and gas manufacturing. It also lined out new regulations for oversight of the drilling industry and protection of private water supplies.

http://iveco.com.au/index.php/on-road/powerstar/range/powerstar-7800

Diesel News Australia / January 21, 2015 The Dakar rally provides us with some spectacular footage as trucks rampage through the deserts and mountains of South America. This year’s event was no exception, with Russian teams dominating the race, coming in first, second and third in their KamAZ trucks. MAN managed fourth place with another KamAZ coming in fifth. Strong contenders Iveco started badly, losing a lot of time, but finished well, winning the final stage to finish sixth overall. The Hino team came in 16th overall, but first in the under 10 litre class, completing the course powered by a nine litre engine. https://www.youtube.com/watch?x-yt-cl=84411374&v=zZjGJCZv8eQ&x-yt-ts=1421828030

Overdrive / January 21, 2015 Departing from recent norms in his State of the Union addresses, President Barack Obama on Tuesday made only brief mention of infrastructure funding and no mention of issues related directly to trucking or transportation in the 2015 edition of the annual address to Congress. The president’s indirect remarks about highway funding came as part of a larger push he made in the address for modernizing and boosting U.S. infrastructure overall. “Twenty-first century businesses need 21st century infrastructure — modern ports, and stronger bridges, faster trains and the fastest Internet,” Obama said. “Democrats and Republicans used to agree on this. So let’s set our sights higher than a single oil pipeline. Let’s pass a bipartisan infrastructure plan that could create more than 30 times as many jobs per year, and make this country stronger for decades to come.” In last year’s State of the Union address, the president pushed hard for a long-term highway bill, fleshing out U.S. infrastructure for natural gas and for improving fuel efficiency for heavy trucks. This year, however, Obama’s address focused on economic gains the country has seen in recent years and “middle-class economics,” pitching proposals for free community college, paid sick leave for employees and using potential tax increases on the rich to fund other projects. He also spent time on international policy, mostly focused on the U.S.’ force against the Islamic State in the Middle East. He did not mention increasing fuel taxes or other highway funding specifics. Likewise, in the official Republican response to the president’s address, Sen. Joni Ernst (R-Iowa) was also quiet on highway funding and transportation issues. Her only mention of infrastructure funding came as a push for U.S. support for building the Keystone XL pipeline.

FYI: It appears that R.P.M. Tech will retain the truck manufacturing business. Note the specs: http://www.grouperpmtech.com/en/custom-carrier-vehicles.aspx R.P.M. Tech was founded in 1962 by Richard Piché under the name of Richard Piché Inc. Prior to the 1980’s, R.P.M. Tech concentrated its activities in the production of rugged industrial snow removal equipment. Since then, several acquisitions allowed the company to diversify its production in a wider range of products. TOR TRUCK CORPORATION Acquired in 1987 and located in Mississauga, Ontario, TOR Truck Corporation specializes in the design and manufacturing of custom built on/off highway vehicles. These include crane carriers, drill rigs, utility trucks, man-lifts, concrete pumps and scrap handlers. In addition to manufacturing various models of chassis, TOR Truck Corporation maintains large O.E.M. parts distribution centers for all types of chassis and construction equipment., one is located in Mississauga, Ontario, and one is located in Edmonton, Alberta. TOR TRUCK USA, INC. TOR Truck USA, Inc. was acquired by TOR Truck Corporation in 1999. It is located in Mechanicsburg, Pennsylvania and specializes in distributing OEM parts to heavy-duty vehicle service centers as well as independent rebuilders of transmissions and differentials. Tor Truck USA also has a distribution center in North Kansas City, Missouri. It works closely with Tor Truck Corporation relating to all matters dealing with parts inventory and distribution. .

Heavy Duty Trucking / January 20, 2015 CCC (Crane Carrier Corporation) Parts Company has completed the purchase of TOR Truck Corporation, a wholesale distribution company specializing in providing drivetrain solutions and components. TOR provides new and remanufactured OEM parts for industries such as construction, over-the-road, mining, logging, airport maintenance and material handling. The acquisition will expand CCC’s existing service and support capabilities in the U.S. and Canada and is aimed at accelerating growth into new end markets and geographies, says CCC. TOR will also expand CCC’s number of wholesale operations and product distribution centers in North America. The TOR name will continue to exist and the TOR management team will continue to operate as TOR with added resources from the CCC wholesale team. CCC Parts Company is a wholesale distributor of heavy-duty truck and trailer products with distribution centers in the U.S. and Canada. “This is a very exciting time for TOR and our customers,” said Pierre Bernard, Chairman of RPM Tech Inc., the former parent company of TOR. “This merger places a strong emphasis on broader product lines, additional inventory and a stronger distribution network for our customers.”

FYI: The Wrightspeed Route HD's electric drive system, like the Peterbilt/Wal-Mart WAVE hybrid tractor concept, is powered by a Capstone micro-turbine. http://www.capstoneturbine.com/prodsol/solutions/hev.asp

Wrightspeed and Ratto Group Clean Up the North Bay Press Release / January 16, 2015 Wrightspeed and The Ratto Group announce their partnership in converting North Bay garbage and recycling vehicles from clean diesel to electric drive. Wrightspeed and The Ratto Group announce their partnership in converting North Bay garbage and recycling vehicles from clean diesel to electric drive. The partnership is announced three weeks after Wrightspeed publicized their heavy-duty electric driveline product, the route HD. The route HD is a plug-in electric truck powertrain that uses an onboard turbine generator to charge the battery, as needed, on the road. It uses CNG, LNG, diesel, or landfill gases and burns cleaner per kilowatt-hour than the average mix of US electrical power plants, making it “cleaner than an EV.” Surpassing California Air Resources Board’s (CARB) ever-tightening emissions standards by 1000%, Wrightspeed’s Powertrains are not only hyper-clean, they are commercially future-proof. “We’re always looking for ways to reduce greenhouse gases in our pursuit of an environmentally sustainable economy,” says Chief Operating Officer, Lou Ratto. “Wrightspeed’s very efficient and super clean powertrains are a great fit for our fleet.” The Ratto Group of Companies, based in Santa Rosa, provides refuse and recycling services to cities and unincorporated areas in Sonoma and Marin Counties. Ian Wright, Wrightspeed’s founder and CEO, agrees, “The route HD was engineered for the refuse and recycling truck application, where it can reduce fuel spend by $35k per year and dramatically reduce noise pollution.” For more information on the Route HD: http://wrightspeed.com/products/the-route-hd/

Fleet Owner / January 20, 2015 Eaton has expanded its UltraShift Plus automated transmission offerings with a new A-ratio designed for extreme performance applications. The MXP (multipurpose extreme performance) transmissions have lower overall numerical ratios and higher torque ratings, the company said. The ratios and even steps on the transmissions deliver better shift performance to improve grade shifting in hilly and mountainous conditions. The 18-speed A-ratio transmissions, when designed into the appropriate driveline, can allow for unlimited payloads. “These new A-ratio transmissions are ideal for demanding applications such as those encountered on routes where steep grades are present and when vehicles are pulling extra heavy payloads,” said Ryan Trzybinski, product planning manager for Eaton. Production begins this month. The standard UltraShift Plus warranties, which are dependent on application, remain the same for the newest application expansion to Eaton’s lineup of automated transmissions. As part of the performance series of UltraShift Plus transmissions, the A-ratio transmissions use an electronic clutch actuator to provide faster shifting and smoother engagement. At idle the clutch fully engages giving drivers excellent control in challenging situations. Shift selection software uses changes in grade, weight and throttle control to calculate the most efficient and effective shift points. Additional features include: Fully automated two-pedal design (no clutch pedal).On/Off-highway performance design.Safety features, such as auto neutral and Intelligent Hill Start Aid, which prevents roll-back and roll-forward while launching on grades using foundation wheel brakes.Automatic, Manual and Low modes offering full control for drivers.Creep Mode.Pairing to the highest torque engines available today with torque capacities ranging from 1450 lb.-ft. (1966 Nm) through 2250 lb.-ft. (3050 Nm).World class start-ability and ratio coverage.Unlimited gross combination weight in 18-speed models.

Detroit Free Press / January 20, 2015 Ian Wright and a few tech-minded buddies got together about a decade ago bent on creating a fast and cool electric car. They called the company Tesla Motors. Wright left soon after Elon Musk took Tesla's financial steering wheel in 2004, but now he's back and determined to electrify a slow and ungainly automotive beast: the commercial truck. While the idea might sound crazy, Wright's logic and math are intriguingly simple. "Besides the fact that modern cars are already very clean, your average Toyota Camry driver only uses about 600 gallons a year, while a garbage truck will use 14,000," says Wright, a soft-spoken New Zealander with a passion for sports cars. "It makes the most economic sense to focus energies on a sector where you can displace the most fuel," especially true now that gas has plummeted to under $50 a barrel, says Wright. "When you switch a garbage truck to electric power, you're saving about $60,000 in fuel and $30,000 in maintenance a year." Companies gradually are buying Wright's pitch. His electric powertrain start-up, Wrightspeed, last year contracted with FedEx to retrofit 25 of its medium- to heavy duty-trucks with battery-powered engines that can be recharged through regenerative braking or by small turbines fueled by natural gas or propane. More recently, Wright got the green light from The Ratto Group, a Bay Area garbage and recycling company, to convert 17 of its garbage trucks. In California, such decisions are being spurred by changes to the state's strict California Air Resources Board standards. Certain high-polluting older and heavier commercial trucks had to be off the road by this past Jan. 1, and by 2023 nearly all trucks and buses will need 2010 model year-or-newer engines. In anticipation of increased demand for his services due to CARB's guidelines, Wright announced today that he is moving his 23 staffers from a 30,000-square-foot plant in San Jose to a 110,000-square-foot former Pan Am airplane hangar in Alameda, near Oakland. He anticipates the company's staff growing tenfold by 2018. For Lou Ratto, letting Wrightspeed revamp a group of 2003-2007 garbage trucks was "an opportunity to take myself out of the air-quality conversation," adding that while he's been keen to buy the latest in green trucks, "it's been a struggle" to keep up with CARB requirements. "What I love about this option is that it's true recycling, because we can maximize the life of the truck's bodies while getting a cost savings and environmental benefit," he says. "As for Ian, his Tesla background speaks for itself." Wright is talking about the 2.2 million medium-duty trucks consuming some 35 billion gallons of gasoline a year, as well as those noisy garbage-swallowing banes of urban and suburban existence. Beyond the savings on fuel and frequent brake replacements — Wrightspeed-equipped trucks mainly use regenerative braking to stop — Wright promises a reduction in noise during those early morning pickups. "Most of that racket is the engine revving up to allow the truck's hydraulics to compress the garbage, but that will drop drastically with our engines," he says. The most modern garbage trucks can cost a city upwards of $500,000. Wright says he can retrofit a truck with his cost- and noise-reducing engine for "a huge fraction of that price," typically under $200,000. "What you'd save on fuel and maintenance over the next four years would get that money back," he says. Wright is convinced that electric power ultimately will make a bigger splash by cleaning up the world's commercial vehicles than it will by ferrying around average citizens in often pricey machines. Wright himself doesn't drive a Tesla. He's actually more of a Maserati and Caterham 7 guy. But he has nothing but praise for Musk's stewardship of the company he dreamed up with Martin Eberhard, Marc Tarpenning and J.B. Straubel. "What Tesla has achieved in terms of changing people's perceptions about electric cars, from golf carts to vehicles that compete with Mercedes and Porsche, is beyond my wildest dreams," says Wright. "That said, we're going after high polluters, and in that sense our economic proposition could allow us to scale bigger than Tesla."

Diesel drops below $3 for first time since 2010 Commercial Carrier Journal (CCJ) / January 20, 2015 The national average price for a gallon of on-highway diesel fell below the $3 mark for the first time since September 2010 and its lowest point since the week ended Sept. 6, 2010, according to numbers released Jan. 19 by the Department of Energy. The U.S. average at-pump price for diesel dropped 12 cents in the week ended Jan. 19 to $2.933 a gallon, according to the DOE. The price is now down 94 cents from the same week last year and has fallen nearly 70 cents since the beginning of December. All regions in the U.S. saw big drops, too, led by a 15.2-cent decline in the West Coast less California region. The Rocky Mountain regional average dropped 14.3 cents, the second biggest drop. The California subregion had the country’s most expensive diesel, $3.165 a gallon, followed by the Central Atlantic’s $3.131. The West Coast less California region had the country’s cheapest diesel, $2.826, followed by the Gulf Coast’s $2.843 and the Rocky Mountains’ $2.884.

Transport Topics / January 20, 2015 Oil declined from a one-week high in London and New York as Iraqi production advanced to a record, compounding a global supply surplus. Prices slid as much as 2.2% in New York and London after their first weekly gain in two months. Iraq is pumping at an unprecedented pace of 4 million barrels a day, Oil Minister Adel Abdul Mahdi said. Oil extended losses after Chinese shares plunged the most since 2008 as regulators cracked down on margin lending. Crude slumped almost 50% last year as the U.S. pumped oil at the fastest rate in more than three decades while the Organization of Petroleum Exporting Countries resisted calls to cut supply. Iraq’s oil production rose to a 35-year high in December and could break more records in the coming months, according to the International Energy Agency. “With supply exceeding demand, it still seems highly likely that the market will fall further,” Christopher Bellew, senior broker at Jefferies International Ltd. in London, said by e-mail. “Rallies above $50 have proved very short-lived, and my expectation is for the price to move in a sideways range until the next move to the downside, which I expect to take the price to $40 or lower.” Brent for March settlement slid as much as $1.12 to $49.05 a barrel on the London-based ICE Futures Europe exchange. It gained 3.9% to $50.17 on Jan. 16, the highest settlement since Jan. 8. The European benchmark crude was at a premium of $1.05 to WTI for the same month. West Texas Intermediate for February delivery, which expires Jan. 20, dropped as much as $1.07 to $47.62 a barrel on the New York Mercantile Exchange. The more active March future fell as much as $1.08 to $48.05. The volume of all futures traded was 66% below the 100-day average for the time of day. Prices rose 0.7% last week. Iraq plans to increase crude exports to 3.3 million barrels a day this year, including sales from the semiautonomous Kurdish region in the north, Abdul Mahdi said. The OPEC producer exported 2.94 million barrels a day in December, the most since the 1980s, Oil Ministry spokesman Asim Jihad said Jan. 2. In Saudi Arabia, OPEC’s biggest producer, oil exports rose to a seven-month high in November, when it led the group to keep its production quota unchanged. Overseas shipments climbed to 7.3 million barrels a day from 6.9 million in October, according to data on the website of the Joint Organisations Data Initiative. OPEC, which supplies about 40% of the world’s oil, maintained its collective target of 30 million barrels a day at a meeting Nov. 27. The 12-member group pumped 30.2 million a day in December, according to estimates compiled by Bloomberg News. U.S. producers idled a record number of drilling rigs during the past six weeks, according to data from Baker Hughes Inc . on Jan. 16. The number of operating oil rigs in the United States has declined by 209 since Dec. 5, the data show. The count was down 55 in the week ended Jan. 16 to 1,366. U.S. output rose to 9.19 million barrels a day through Jan. 9, the fastest pace in weekly records dating to January 1983, data from the Energy Information Administration show.

If your shift knob is leaking air, you can rebuild it with a Mack 14RC1131 shift knob repair kit.

The Guardian / January 18, 2015 All the best images from the final six stages of this year’s Dakar Rally, as it winds its way across 5,600 miles through Argentina, Chile and Bolivia. The event is one of the most spectacular in world sport, with drivers and a variety of vehicles tackling an incredible array of terrains, from deserts to flooded rivers. Click here to check some breathtaking images from the first seven stages of the 2015 rally, and here for some archive images from the early years of the Paris-Dakar Rally. http://www.theguardian.com/sport/gallery/2015/jan/18/dakar-rally-2015-stages-8-13-in-pictures#img-1

Dakar: Ayrat Mardeev finishes off first Dakar title in trucks NBC Sports / January 17, 2015 Ayrat Mardeev has won his first Dakar Rally and the 13th for the dominant KAMAZ team in the truck category following a third-place showing in Sunday’s rain-shortened final stage. KAMAZ locked out the overall podium with Mardeev topping Eduard Nikolaev by 13 minutes, 52 seconds. Coming in third was 2014 Dakar winner Andrey Karginov at 51 minutes off the pace. Nikolaev may well be wondering if it would have been him on the top step in Buenos Aires if not for a turbo-charger failure on his truck in Stage 7 that cost him more than an hour. A win in Stage 8 and runner-up in Stage 9 brought him back up to second place overall behind Mardeev, and it appeared he had the momentum behind him again. But even with another victory in Stage 10, it did next to nothing in bringing him closer because Mardeev finished second that day at a mere 49 seconds back. That proved critical for Mardeev, who would manage his lead with finishes of ninth, fifth, and third in the remaining stages to take the crown for himself. Nikolaev may have led all truck drivers with six stage wins, but Mardeev’s consistency won out. As for Stage 13, Hans Stacey pulled off an impressive third consecutive stage win to end his Dakar the same way he started it. Stacey and his Iveco out-hustled the MAN of Marcel Van Vliet by 1 minute, 21 seconds. Video: http://motorsportstalk.nbcsports.com/2015/01/17/dakar-ayrat-mardeev-finishes-off-first-dakar-title-in-trucks/

Prime Mover Magazine / January 19, 2015 The 2015 Dakar rally concluded on Saturday in Buenos Aires with a triple win by Russia’s KamAZ brand. The company’s Master race trucks crossed the finish line in first, second, and third place. The 2015 edition of the world-famous event, which originated on the African continent, was the rally’s seventh consecutive year to be held in South America. The route covered 9,000km (5,592 miles) in Argentina, Bolivia and Chile, crossing the Andes Mountains and racing the Salar de Uyuni, the world’s largest salt lake, before venturing in the Atacama Desert, commonly known as the driest place on Earth. In total, 63 racing trucks representing twelve different commercial vehicle brands competed in the Dakar 2015 rally. KamAZ sent four trucks to successfully defend its title. The winning trucks were supported by several key suppliers, including Belgian juggernaut Wabco, which has provided KamAZ’ heavy-duty race trucks with high-performance air compressors, wheel-end solutions, coupling controls and brake cylinders. “The Dakar Rally represents two grueling weeks in the most challenging terrain on Earth. It is the ultimate test for trucks and teams alike”, said Vladimir Chagin, director of NP KamAZ-Avtosport, leader of the KamAZ Master team. Stage 13 (Final) Overall Ranking: http://www.dakar.com/dakar/2015/us/stage-13/rankings/overall-trucks.html Team KamAZ: http://www.kamazmaster.ru/en Redbull (Like father, like son): http://www.redbull.com/en/motorsports/offroad/stories/1331700349831/ayrat-mardeev-2015-dakar-rally-champion-interview-story Wabco: http://www.wabco-auto.com/nc/media/media_center/press_releases_wabco/press_releases_single_view/news-article/kamaz-master-truck-racing-team-defends-championship-title-at-dakar-rally-2015-supported-by-wabcos-h/ .

Press Release / January 19, 2015 After a shorter final stage, the surviving 2015 Dakar teams reached the competition finish line in the town of Baradero, 150 kilometers from Buenos Aires. ​Iveco's Hans Stacey, who also won the last special stage, and Gerard de Rooy arrived in the Top 10 after a tough race that presented problems for most pilots along more than 9,000 kilometers. A new edition of the toughest competition in the world came to an end. The 2015 Dakar announced the champions upon arrival in Baradero, near Buenos Aires, the site of the symbolic podium. Hans Stacey was the first truck to leave and took advantage of the clear road to win another stage in the 2015 Dakar. This is his third consecutive victory. He achieved a total of four, including the one on the first day of the competition. The Dutchman, with an Iveco Powerstar, beat his countryman Marcel van Vliet by 1m19s and the 2015 Dakar champion, Airat Mardeev, by 2m25s. Gerard de Rooy finished the day in 7th place with his Iveco Powerstar at 4m36s of the leader and he moved up another position during the final kilometers to finish 9th overall. The Dutchman was one of the competition favorites, but problems in the fourth stage when he crashed in a ditch made it impossible to fight for overall victory. Regardless, De Rooy always kept pace with the leaders and repeatedly took the podium during the various stages. However, this is the first Dakar he finishes without winning a stage since 2011, when he pulled out in the first stage. Pep Vila, with his unerring Iveco Trakker Evolution II, finished today in 12th place, 9m24s behind his winning teammate Hans Stacey. Even though he was unable to achieve his goal of reaching the top 10, the Spaniard finished with a clear conscience, since he helped Gerard De Rooy to stay in the race. If he had not lost that time in stage 4, Pep Vila could have finished in the Top 10. Pierre Lahutte, President of the Iveco brand, was present at the closing of the 2015 Dakar, alongside the fleet that arrived in Buenos Aires. "Our three trucks arrived at the finish line confirming their reliability and durability in the most extreme conditions. We did not end up on the podium as we had hoped, but we persevered and won the last three stages of the Dakar. Congratulations to the whole team," concluded Pierre Lahutte. See more at: http://www.iveco.com/Dakar/Pages/The-2015-Dakar-is-over-with-two-Iveco-drivers-in-the-Top-10.aspx#sthash.u0ru3CsQ.dpuf http://www.dakar.com/dakar/2015/us/ .

Truck News / January 19, 2015 The date for the Atlantic Truck Show has been set for this June. On June 5-6, at the Moncton Coliseum Complex, the only national truck show east of Montreal will take place. At the 2013 Atlantic Truck Show, there was more than 12,000 buyers. This year, show organizers are predicting a sold-out show because of the healthy market for sales of medium and heavy-duty trucks of late. “We’re seeing strong sales to date, bolstered by the massive success of the 2013 show,” said Mark Cusack, National Show Manager. “This edition is sure to be another sold-out event, with hundreds of exhibitors from across Canada.” The show includes indoor and outdoor displays. For more information on the show, visit www.AtlanticTruckShow.com.

Commercial Carrier Journal (CCJ) / January 14, 2015 The recent nosedive of diesel prices may be the new normal — or at least a temporary normal — according to the latest projection from the Department of Energy. In its January edition of the Short Term Energy Outlook, the DOE’s Energy Information Administration forecasts the price of diesel to average $2.85 this year, which would be a 98-cent drop from 2014’s average of $3.83. The projection is based on the expectation that crude oil prices will remain low, $58 a barrel in 2015, the DOE predicts. The same report forecasts the price of diesel to rise to an average of $3.25 a gallon in 2016. Gasoline, meanwhile, is projected to average $2.33 in 2015 and $2.72 in 2016.

We're in far, far worse shape than the powers that be want John Q. Public to know.

Bloomberg / January 16, 2015 The theory goes that commodity prices move in “supercycles” or bursts of phenomenal surges, followed by longer, less-exciting periods. As such, a barrel of oil at $50 is, well, normal. Many people think the oil price has crashed, but it has just gone back to its long-term historical trend, according to Ruchir Sharma at Morgan Stanley Investment Management Inc. That makes a barrel of oil at around $50 just about right based on a 100-year inflation-adjusted average, said Sharma, who manages $25 billion as head of emerging markets. “The price of oil is returning to normal in its long-term 100-year history,” Sharma said in an interview from New York. “We tend to have a short memory and we tend to forget that the price of oil breached the $50 a barrel level only a decade ago.” Brent crude oil futures, which trade in London and are used as a benchmark to set prices for more than half of the world’s oil, reached a record of $139.83 a barrel on June 30, 2008, according to data compiled by Bloomberg. By Jan. 13, the price had plunged 67 percent to $46.59. “At times like these, it’s good to step back and look at the bigger picture, look at what it has done through a long history,” he said. The supercycle surge in oil prices was kicked off by China's emergence as an industrialized economy and net oil importer in the middle of the 1990s. In 1995 it imported 343,000 barrels a day, according to BP Plc data. In 2013, it bought 5.7 million barrels a day. The nation is now the world’s biggest energy consumer and the second-biggest oil user. “China’s oil imports took off around 2003 and it emerged as a big factor in the market,” Thina Saltvedt, an Oslo-based oil analyst at Nordea Bank AB, said in a Jan. 13 phone interview. There’s a long time lag in oil between investments and new supply and it can take 10 years, sometimes 15 years, to balance the market and match it with demand, said Saltvedt. China is structurally changing its economy from big, energy-intensive industry to less so. India or perhaps Africa will start to take over the role China has played, said Saltvedt. “We’re now close to the end of this big oil cycle and entering the next 10-15 years cycle of a more balanced and stable market,” she said. Sharma went further back with his commodity price tracking -- 200 years -- and said the trend is for prices to rise for a decade then fall for two decades. The reason: something new comes along that attempts to substitute a commodity or find a new way to meet demand. “Commodity prices over time don’t go up. Even in the case of oil, where prices have gone up somewhat over time, there’s a lid on price because there’s always something that caps prices,” he said. Surging prices in the 1970s led to the development of the North Sea and Alaska oil fields. Then they crashed in the mid-1980s when Saudi Arabia flooded the market. It took five years for prices to regain lost ground. “These are all cycles -- high prices sow the seeds for lower prices and lower prices sow the seeds for high prices,” Sharma said. “That’s the cycle that commodities follow.”

Press Release / January 15, 2015 The return to Argentina saw Stage 10 of the 2015 Dakar, a special timed stage. Gerard de Rooy was Iveco’s best performer, placing fifth. The Dutch driver continues to regain ground maintaining his place in the Top 10. Early Wednesday morning the remaining 2015 Dakar competitors returned to Argentina leaving the Calama campsite behind. In a highly demanding stage for both the trucks and their drivers, the 358-kilometre road was changed to 371, the same distance travelled by motorbikes and quads. Both the cars and trucks had to undergo an extended stage after having crossed areas that were 4,500 metres above sea level. Eduard Nikolaev (Kamaz) was the stage winner once again, coming in shortly before the following competitors. Iveco’s best performer was Gerard de Rooy at the wheel of his Powerstar. He arrived only 5m19s from the lead moving at an increasingly faster pace throughout the day. He had a very fast start fighting the stage leader inch by inch and finally coming fifth place in the stage. Hans Stacey, Iveco fleet’s leader in the general ranking, finished right after De Rooy, only 7m16s from the leader. He is rapidly approaching the fifth position in the general rankings, which is currently in the hands of Sotnikov (Kamaz). Today he was able to gain more than 20m on Sotnikov remaining 18m09s in the total sum of times. In turn, Pep Vila was imposed a 40-minute penalty in the ninth stage for failing to pass through a waypoint – a checkpoint that drivers have to cross through to have their time recorded. “We were coming from a very dusty area, among cars, trucks and quads… all that dust prevented me from seeing where we were and we did not have that checkpoint on our GPS,” said Vila. In addition to the time lost due to the penalty, he finished 24m43s from the lead in 16th position, slipping to 13th position in the general rankings. More info available at www.iveco.com/dakar

I couldn't agree with you more about these executives selling off yet another US company to overseas aggressors. When will it end? Frankly, there's no end in sight, so long as the vast majority of the population doesn't care about the dismantling of America's industrial (economic) base.

The Financial Times / January 14, 2015 ZF Friedrichshafen’s chief executive has criticized the US$130 million of so-called “golden parachute” payouts that executives at TRW Automotive could receive if the German parts supplier completes a US$12.4 billion takeover of its US rival. While acknowledging that he has no power to change the payouts, Stefan Sommer has told the Financial Times that he believes the potential windfalls for departing TRW executives are too large. Golden parachutes are so named because they are handed out to executives as a means of softening the impact of leaving a company, following its takeover. They are designed to align management’s interests with those of shareholders in the event of an offer. Opponents argue that executives are already well rewarded for performing their fiduciary duty. ZF may have to pay them to TRW executives as a result of its acquisition of the Michigan-based company, announced in September — an acquisition that will catapult the combined group into the top-three global automotive suppliers, with about €30bn in annual revenues. But although large payments to outgoing executives are common after deals in the US, Mr Sommer said: “I have no sympathy for that — for me, it’s also not a reasonable amount. But at the end of the day we have to accept that this is how the American system is and how it functions — it was transparent to us. Before the acquisition we knew what was coming our way and we made a conscious decision [to agree the deal]” He added: “I can’t change it — these are existing contracts and agreements, it’s the American system, we knew that and accept it, too — but, in terms of the content, I don’t find the magnitude [of the payments] OK.” In total, TRW board members could receive a maximum of $134 million in merger-related payments, according to regulatory filings. John Plant, a Briton who has served as TRW’s chief executive for more than a decade, is in line to receive most of this: up to $87.7 million, including more than $35,000 to cover future club membership fees. He received $24.5 million in pay and benefits in 2013. By contrast, ZF’s six board members together received total pay of €8m last year. Mr Sommer emphasised that he respected Mr Plant’s achievements at TRW, in particular the way he guided the company through the financial crisis. TRW’s stock fell to below $2 in 2009 but now trades above $102. TRW referred the FT to regulatory disclosures but declined to comment further. Shareholder votes on golden parachutes were made compulsory under the Dodd-Frank financial reform act in 2010 and, last year, ISS, the proxy advisory service, recommended that TRW investors vote against the golden parachutes — partly because of the “quite sizeable” payments due to the CEO. A majority of TRW shareholders voted against the merger-related compensation in November, but the vote was advisory and non-binding. TRW’s shareholders still voted to approve the deal by a large majority. ZF’s offer of $105.60 per share represented a premium of 16 per cent on the undisturbed share price, and the deal is expected to complete in the first half of 2015, subject to antitrust authorities’ approval. Nevertheless, Mr Sommer’s latest comments illustrate the continuing potential for culture clashes in cross-border takeovers. In 2014, the number of German-US deals surged, as cheap financing encouraged German companies to seek mergers and acquisitions that could bring them new technologies and revenue growth outside Europe. This revival in global dealmaking also sparked a resurgence in large golden parachute payments. Under the ZF takeover, TRW executives will be granted cash severance payments, accelerated vesting of stock awards and other benefits. In addition, Mr Plant is due payments under his retirement plan. Like other shareholders, the executives will also be paid for the TRW stock they own. Mr Plant currently holds shares, including underlying stock options, worth $69.8 million based on the $105.60 offer price. Reference: http://www.bigmacktrucks.com/index.php?/topic/37104-germanys-zf-purchasing-trw-automotive/?hl=trw