April 2003 City Sprint have taken over the business of MPC logistics. MPC logistics was formed by Marc Chauveau and was part of the Sentinal Business Services Group. Sentinel were reported to be in difficulty and the document storage elements of Sentinel’s business have been transferred to Recall – a subsidiary of Brambles.
Read MoreIt is no secret that the world airline industry has been plunged into its deepest crisis yet. To be sure, the industry has always been highly cyclical, and past downturns have claimed some of the most storied names in commercial aviation. But most of those carriers clearly were among the weakest members of the herd. This time, some of the largest airlines in the world face the very real prospect of bankruptcy, followed by liquidation, if they cannot persuade creditors and unions to restructure costs before the cash runs out. After the disastrous 2001 and the leveling off of last year, 2003 is turning out to be a year of painful lessons for many people.
Read MoreAmtrak Company Profile May 2003 including latest (May 2002) accounts
Read MoreLa Poste, the French national postal services group, has announced that SF2, the holding company it created in early 2001 to head up its various financial services activities, has now taken control of all of them. The latest investment to be transferred to the holding company’s control was La Poste’s 50 per cent direct investment in its provident subsidiary, Assurposte.
Read MoreThiel management defects to TNT
Read MoreThe Freight Transport Association will announce today that John Allan, Exel chief executive, is taking over from Chas Lawrence, former head of Wincanton, as president. “Our industry provides the backbone to the UK’s commercial framework and it is essential that members’ views are effectively represented to support our role in maintaining the nation’s ongoing competitiveness,” says Mr Allan.
Read MoreAirborne Inc. on Wednesday posted a loss in the first quarter after a year-ago profit, due mostly to higher fuel costs and harsh winter weather. The Seattle-based company, which plans to sell its sell its ground operations to DHL for $1.05 billion, said its first-quarter loss was $5.6 million against a profit of $5.3 million a year ago, gained mostly from cost-cutting.
Read MoreDHL Airways Inc., the cargo airline for DHL Worldwide Express Inc., disclosed yesterday during a government hearing that it planned to sell the business to its chairman and chief executive, John Dasburg. The sale of DHL Airways to Mr. Dasburg, the former president of Northwest Airlines, is an attempt to further defend its relationship with DHL Worldwide. However, some legal experts expect that the Department of Transportation’s chief administrative law judge, Ronnie Yoder, may apply another test of foreign ownership or control: the source of DHL Airways’ revenue. If Judge Yoder determines that DHL Airways is controlled by DHL Worldwide by providing it with a majority of its revenue, DHL Airways could be barred from flying, though analysts suggest that such an outcome is highly unlikely. Under the terms of the deal between DHL Airways and Mr. Dasburg outlined yesterday, Mr. Dasburg would acquire DHL Worldwide’s 25 percent stake in DHL Airways and also acquire the remaining 75 percent from William Robinson, a United States citizen.
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