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AllCovered-NEWS
The News You Need, Monday, 1 September 2003 – Edition #347
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-- CONTENTS THIS WEEK -SMALL BUSINESS:
GAO Wants to Tax Benefits
Health Insurance Scams
Anyone Can Steal Your Identity
Email Virus Part of Larger Plan?
TRUCKING:
No H-O-S Exceptions
Security Worries
SECURITY:
High Tech Truck Security
Scanning Air Cargo
OCEAN & AIR FORWARDING:
KLM – BA Out – AF In
A-Star-DHL Legally
Korean Protests
Ocean Rate Hikes
Vancouver Port Talks
JUST FOR FUN:
Labor Day Trivia - Redneck Murder
This Is Weird - Communication
Life Explained
NEXT WEEK:
Employee Involvement
AllCoveredNEWS - EASY TO READ & PRINT VERSION:
http://www.allcovered.net/AC-News-PDF.htm
1
> > > > > SM ALL BUSINESS SECTION < < < < <
SMALL BIZ – GAO WANTS TO TAX EMPLOYEE BENEFITS
The US General Accounting Office wants to tax the benefits you give your employees, like health
insurance, as if it were income for your employees.
While employers are doing all they can to hold down health costs, the federal government may limit
what fiscal relief they receive from tax exemptions for providing health benefits.
A report released by the US General Accounting Office offers scores of proposals to reduce the
national budget crunch, including levying a tax on employers offering health insurance.
“The current tax treatment of health insurance [amounted to] revenue losses of about $67.6-Billion in
2001, [and] gives few incentive to workers to economize on purchasing health insurance,” GAO officials
write.
The agency suggests one option, “…Congress may wish to consider would be to tax all employer-paid
health insurance, while providing individuals a refundable tax credit of 20% of premiums that they or their
employers would pay,” capped at $200 per month for single coverage and $500 for family coverage.
Lynn Dudley, vice president of senior counsel for the American Benefits Council, dismisses the GAO
proposals as, “…the most ridiculous thing I’ve ever heard. If what they want is people to opt out of health
insurance, making them pay taxes on coverage is the fastest way to do it. [Such measures] undermine
employers’ ability to take care of their workforce.”
SMALL BIZ – FLORIDA CAPS DAMAGES: Florida joins a growing list of US states that are limiting
non-economic damages for medical malpractice. Actual damages proven are not capped.
MORE: http://www.ama-assn.org/sci-pubs/amnews/pick_03/gvl10901.htm
SMALL BIZ – PHONY HEALTH CARE SCAMS: Phony health insurers are pocketing millions of dollars
in premiums while leaving their victims with huge, unpaid medical bills.
MORE: www.washingtonpost.com/ac2/wp-dyn/A59905-2003Aug28?language=printer
12-PAGE REPORT: www.cmwf.org/programs/insurance/kofman_insurancescams_ib_665.pdf
SMALL BIZ – ANYONE CAN STEAL YOUR IDENTITY
Identity theft jumped 81% last year.
How easy is it? As one writer put it…
“Last weekend my sister’s wallet was stolen. Within six hours, the thieves had charged $5,000 to each
of her credit cards and wiped out much of her bank account by using her debit card to "purchase"
limousine services from a nonexistent company. Worse, the thieves also obtained her Social Security
number, which was printed on her health-insurance member card.
“Social Security numbers are gold mines for thieves, since the numbers are widely used as ID and
passwords by banks, brokers, even the IRS.
“My sister immediately put a fraud alert on her account with the credit bureaus to prevent anyone from
opening new lines of credit. But experts say she'll still have to check her accounts monthly for the next
several years. And many credit companies don't always perform every check before issuing new cards.
Despite the alert, if criminals do obtain a new line of credit, the onus is on her to prove it was identity
theft.”
--- DANGERS --Health and insurance cards usually have your Social Security number on them. Mandates that we
carry these cards are the equivalent of forcing us to walk around with thousands of dollars in cash and
jewelry.
Why do insurers do it? Because it is an easy way for them to keep your records.
--- ID THEFT METHODS ---
2
Thieves open a new credit card account, using your name, date of birth, and Social Security number.
When they use the credit card and don’t pay the bills, the delinquent account is reported on your credit
report.
Thieves call your credit card issuer and, pretending to be you, change the mailing address on your
credit card account. Then, your imposter runs up charges on your account. Because your bills are being
sent to the new address, you may not immediately realize there's a problem.
Thieves establish cellular phone service in your name.
Thieves open a bank account in your name and write bad checks on that account.
MORE: http://story.news.yahoo.com/news?tmpl=story&cid=66&ncid=66&e=8&u=/bw/20030814/bs_bw/tc200308149611tc073
RESOURCES:
ID THEFT CENTER
MORE: http://www.idtheftcenter.org
GOVERNMENT ID THEFT RESOURCE CENTER:
MORE: http://www.consumer.gov/idtheft/
PRIVACY RIGHTS CLEARINGHOUSE
MORE: http://www.privacyrights.org/identity.htm
SMALL BIZ – SOBIG PART OF LARGER PLAN?
We spent a lot of time and space writing about the SOBIG virus last week.
If you missed it, or wish to review, last week’s edition is at:
http://www.allcovered.net/AC-News -PDF.htm
--- VIRUS VS. WORM --SOBIG is a virus. It spreads when someone clicks on an infected email attachment.
Other infections are known as “worms.” They attack a vulnerability in a program or operating system
and do not need for the user to do anything (like click an infected email attachment) to attack and control
your computer.
You cannot afford to ignore this.
After dissecting the code, anti-virus experts fear a seventh version, SoBig.G, may appear this month.
Peter Simpson, manager of ThreatLab at Clearswift, believes Sobig.F is the latest in a series of forays
into the digital world by organized criminals looking to make a move online.
"This is the sixth in a series of controlled experiments. This isn't about some kiddy writing viruses in his
bedroom--this is really a very sophisticated example of organized crime."
Simpson explains the purpose of getting Sobig onto the computer is not to cause damage or purely to
drive wide and rapid spread, but to gain control of machine, by downloading a Trojan and gain access to
information such as bank details for the purpose of fraud. Such tactics effectively hand control of the
machine over to the virus writer.
If this test was successful, and it surely appears it was, what’s next?
--- PROTECTION --ONE: Download & use ANTI-VIRUS software. UPDATE DAILY.
TWO: Download and use a FIREWALL program.
THREE : NEVER OPEN AN EMAIL ATTACHMENT unless you both know who it came from and you
were expecting an attachment from them. If you are not sure, take a moment to email back and ask, “Did
you send this to me?”
3
SMALL BIZ – BUSINESSES SLOWLY OPENING WALLETS
Consumer spending has carried the US economy for three years. Now it appears business executives
may finally be ready to spend.
Senior executives at US companies have turned sharply upbeat in their outlook for the national
economy. An August poll by PriceWaterhouseCoopers finds two-thirds are optimistic about prospects for
the next 12 months. 42% say they are optimistic about the world economy.
4
> > > > > > > TRUCKING SECTION < < < < < < <
AllCoveredNEWS - EASY TO READ & PRINT VERSION:
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TRUCKING – NO H-O-S EXCEPTIONS
The Federal Motor Carrier Safety Administration has declined to reconsider various aspects of the new
Hours-Of-Service regulations that are scheduled to take effect on 4 January.
Wal-Mart Stores and others had asked FMCSA to reverse its decision to require that all driving be
completed within 14 hours after the workday begins.
“The various elements of the Final Rule form a single, interlocking unit. The new rule was carefully
designed to take into account our data that the 14-hour limit could not be altered or replaced without
undermining the very benefits in fatigue-reduction the new rule seeks to establish. Moreover, allowing
carriers to decide which time provisions were to apply would seriously complicate and undermine effective
enforcement of the rule,” says FMCSA Administrator Annette Sandberg.
MORE: http://www.etrucker.com/apps/news/article.asp?id=41449
TRUCKING – SECURITY WORRIES
A survey conducted by International Truck & Engine stresses the fleet community’s concern with
security requirements in the aftermath of 9-11.
“The majority think individual truck drivers hold primary responsibility for the safety of the roads,
highways and bridges,” says Phil Christman, International’s vice president of product development.
FINDINGS:
70% are “very” or “somewhat” concerned about cargo and vehicle security
56% say hazardous materials haulers face higher than normal security risks
50% say agriculture and food distribution face higher security risk
44% say regional and long-haul operations face higher risk
48% think tracking could have positive impact on vehicle and cargo security
MORE: http://www.truckinginfo.com/news/news_detail.asp?news_id=50288
TRUCKING – HIGH TECH TRUCK SECURITY – see “Security” section
TRUCKING – DIESEL UP: Gasoline prices have risen 20-cents a gallon in two weeks. The rise in diesel
costs has been slower. Diesel prices rose 0.5 cents, to $1.503.
MORE: http://www.etrucker.com/apps/news/article.asp?id=41462
TRUCKING – OP AIR BRAKE THURSDAY: Canadian and US safety officials will conduct a 12-hour
Operation Air Brake on 4 September. Commercial vehicles will undergo stepped-up inspections. The last
two times this has been done almost one-in-five were taken out of service for brake-related defects.
MORE: http://www.etrucker.com/apps/news/article.asp?id=41295
TRUCKING – QUALITY IPO: Quality Carriers, the Florida bulk carrier with more than 3,000 trucks,
plans an Initial Public Offering.
MORE: http://www.sptimes.com/2003/08/30/Business/Chemical_trucking_com.shtml
5
> > > > > > > SECURITY SECTION < < < < < < <
AllCoveredNEWS - EASY TO READ & PRINT VERSION:
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SECURITY – HIGH-TECH TRUCK SECURITY
As security becomes more important, new tools are here to help prevent theft of trucks and cargo.
There are many options, but as an example, Qualcomm’s OmniTracs can be set to demand a driver
password each time he returns to the truck and starts it. If the password is incorrect, the base station is
alerted via a transmission from the truck’s OmniTracs unit. The password can even be reconfigured at
each stop so thieves would have more difficulty finding and using it. This function will soon be expanded
to read such biometric identifiers as fingerprints.
The system is available for $100 with no hardware modifications on the more powerful OmniTracs
units. Others can be readily modified.
OmniTracs also offers a “panic button” so a driver experiencing a heart attack, hijacking or other
emergency can, with the press of a button, inform his dispatcher that he has a critical need for assistance.
A wireless panic button is in beta testing that the driver can activate from up to 400-feet (130m) away
via a key fob.
Another feature can shut-down a tractor remotely if the “panic button” is pressed.
Another possible near-future feature for drivers would allow the on-board computer to disable the truck
if it strays off its assigned route.
If the vehicle were stolen by a ring of thieves clever enough to keep the vehicle on its route, the driver
could simply call dispatch and the dispatcher could disable the truck from the base station.
The disablement feature could also be activated should the truck sit for too long.
RELATED STORY: CARGO THEFT – SCARY MONEY BUSINESS
MORE: http://www.etrucker.com/apps/news/article.asp?id=40917
CARGOGUY: CARGO LOSS RISK AREAS
SECURITY – SCANNING AIR CARGO
If the government wants information or a plan from you, the government wants answers now.
6
Two years after 9-11, the government is hoping to release long-awaited rules designed to keep bombs
from being stowed in the cargo holds of passenger jets.
Reports indicate the Transportation Security Administration likely will require airports and airlines to Xray cargo crates or unleash teams of dogs to sniff out explosives.
Airlines, air cargo specialists and airports fear this will slow cargo movement and erase air cargo’s
competitive advantage with trucking.
More than 20-million metric tons of air cargo moved through the major US airports last year. Almost
one-quarter of that moved in the bellies of passenger flights.
Lawmakers ask why all passenger luggage is screened, but cargo in the hold beneath them is not.
MORE: http://www.bizjournals.com/industries/travel/airlines_airports/2003/08/25/atlanta_story4.html?f=et184
SECURITY - INDIAN EXPORTERS CAN “SELF-CERTIFY”: All manufacturer-exporters can now seal
their export cargo on their own and provide self-certification. The Central Board of Excise and Customs
(CBEC) has decided to extend the facility of self-certification and self-sealing of export goods to all
manufacturer-exporters without any discrimination.
MORE: http://timesofindia.indiatimes.com/cms.dll/xml/uncomp/articleshow?msid=148087
SECURITY – BANGLADESH STEPS UP: Bangladesh and India are preparing to step up security
measures at seaports, including scanning of containers shipped to and from their countries.
Bangladesh plans to install six X-ray scanning machines at the country's two seaports of Chittagong and
Mongla, and inland container terminals. The Indian government is considering setting up a separate force
for security at all the 13 major ports.
MORE: http://www.joc.com/20030827/sections/ocean/w58209.asp
7
> > > > > > AIR & OCEAN SECTION < < < < < <
AllCoveredNEWS - EASY TO READ & PRINT VERSION:
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AIR – ATLAS HAS TWO WEEKS: Atlas Air has been given a two-week extension of its forbearance
agreement with some certificate holders, giving the parties more time to negotiate a restructured finance
agreement. The new deadline is 12 September. Atlas Air earlier said it was considering declaring
bankruptcy as part of its restructuring program.
MORE: http://www.atlasair.com
MORE: http://biz.yahoo.com/djus/030829/1703000726_2.html
AIR – KLM OUT OF TALKS WITH BA
KLM says it is no longer speaking with British Airways about forming an alliance, but is stepping up
talks with Air France and the SkyTeam alliance.
Most analysts predict KLM will join SkyTeam because its long-term US partner, Northwest is closely
working with Delta, a SkyTeam member. Joining that alliance is expected to be KLM's first step towards
an eventual takeover by Air France to create Europe's largest airline.
There are issues:
--- Air France would need to be independent and not majority-owned by the French government.
--- KLM's desire to maintain its Dutch identity and solidify Schiphol airport as a major European hub.
MORE: http://biz.yahoo.com/rf/030827/airlines_klm_1.html
MORE: http://biz.yahoo.com/djus/030827/1159000550_2.html
AIR – ANALYST REACTION TO AF-KLM
Air France and KLM stand to make substantial operational gains through a partnership in the form of
KLM membership in the SkyTeam alliance or an equity swap, but an immediate full merger would be too
risky, analysts say.
KLM membership in SkyTeam would widen Air France's customer base and give it access to KLM's
Schiphol hub, which could make SkyTeam “the dominant intercontinental network in Europe”, according
to analyst Nick van den Brul of BNP Paribas Equities.
Analysts warned that operating a double hub, on the model of Northwest Airlines in Detroit and
Minneapolis in the US, is difficult enough and that a full merger in the short-term would create more
problems than it solved.
“The next alliance development is likely to be the decision by KLM to join SkyTeam” along with US
partners Northwest and Continental, which could come in weeks or months, according to analysts at US
investment bank JP Morgan.
MORE: http://business-times.asia1.com.sg/sub/shippingtimes/story/0,4574,92311,00.html?
AIR – ASTAR DENIES FUNNY BUSINESS: Former Northwest Airlines president John Dasburg told a
government judge Tuesday that he and two other American investors - not the German post office and its
DHL subsidiary - control ASTAR Air Cargo, rebutting charges by FedEx and United Parcel Service. But
another investor, Richard Blum, chairman of Blum Capital Partners, confirmed that Deutsche Post had in
effect guaranteed to pay back its $10 million investment and cover a $50 million loan if the US
Department of Transportation rules that ASTAR is not a US-controlled company. Without such a
certification, DHL Airways, and now ASTAR, cannot carry cargo between US cities.
MORE: http://www.gomemphis.com/mca/business/article/0,1426,MCA_440_2211470,00.html
MORE: http://www.joc.com/lede/20030827/sections/air/w32563.asp
MORE: http://www.americanshipper.com/frm2001.asp?Target=NewsFrame.asp?news=14816
AIR – ASTAR REVIEW IMPACT ON EU RELATIONS: A witness for Astar Air Cargo told a judge on
Wednesday that stripping the company of its US citizenship could hurt consumers and hobble efforts to
8
forge a new aviation treaty with the European Union. "In addition to the direct harm to competition,
decertification of Astar would set back the (transportation) department's high-priority effort to liberalize
international aviation markets, which would harm competition indirectly," said Dorothy Robyn, a White
House official under President Clinton in written testimony before administrative law judge Burton Kolko.
MORE: http://biz.yahoo.com/rc/030827/airlines_astar_1.html
WE HAVE LOGISTICS ALL COVERED
--- CARGO – FMC BONDS – CUSTOMS BONDS – BOL LIABILITY – E&O ----- NEWS – TOOLS – HELP – RESEARCH – TRAINING --www.allcovered.net
AIR – LEASE PRICES UP: Singapore Aircraft Leasing Enterprise (SALE) forecasts lease rates for new
aircraft will rise by between 5% and 10% in the next year as air travel demand picks up. Leasing rates for
new aircraft have fallen by about a fifth since the terrorist attack in the US in 2001.
MORE: http://business-times.asia1.com.sg/sub/shippingtimes/story/0,4574,91928,00.html?
AIR – BA ADDS INDIA FREIGHTER SERVICE: British Airways will add a third 747F service each week
to India. The service will run from Stansted to New Delhi and Mumbai.
MORE: http://www.joc.com/lede/20030825/sections/air/w55733.asp
AIR – BA BEGINS HOUSTON-MIDEAST CARGO: British Airways will begin direct cargo service
between Houston and the Middle East starting today. BA will operate a Boeing 747-400 freighter for the
new weekly service to Dammam, Saudi Arabia and Dubai, United Arab Emirates departing on Mondays,
via Stansted.
MORE: http://www.joc.com/20030828/sections/air/w26852.asp
AIR – LH CARGO LOOKS EAST: Lufthansa Cargo expects double-digit sales and volume growth in the
Asia Pacific in 2004, fuelled by strong demand from China.
MORE: http://business-times.asia1.com.sg/sub/shippingtimes/story/0,4574,92399,00.html?
AIR – EMIRATES EXPANDS US SERVICE: Beginning in 2 weeks, Emirates SkyCargo will begin
regular services to JFK, via Gothenburg. The Emirates freighter will fly out of Dubai International Airport
every Sunday to reach JFK on Monday, while the inbound journey from New York to Dubai will take place
every Saturday. Service is via a 747-200F.
MORE: http://www.ameinfo.com/news/Detailed/27607.html
AIR – SAA HIKING HK BELLY CAPACITY: South African Airways (SAA) is set to offer additional
bellyhold cargo capacity between Hong Kong and Johannesburg from November as it has increased
passenger service frequency from five A340 flights a week to daily.
MORE: http://www.cargonewsasia.com/news_main_f.asp?id=2795&src=2
AIR – AIR FRANCE NET PROFITS SLASHED: Net profit for Air France for the first quarter fell 97%.
MORE:
http://story.news.yahoo.com/news?tmpl=story&cid=1518&ncid=1518&e=20&u=/afp/20030826/bs_afp/fran
ce_air_company_030826173606
TRADE – KOREAN UNIONS PROTEST
South Korean labor unions staged a mass rally to oppose the government’s five-day workweek bill.
Thousands of workers from the Korean Confederation of Trade Unions (KCTU) and Federation of Korean Trade
Unions (FKTU) gathered to demand that the 40-hour workweek be introduced without pay cuts or layoffs no later than
2005 and threatened a general strike otherwise.
Although the eight-day truckers’ strike is nearing an end with cargo transportation quickly getting back to normal,
the conflict between government forces and unions remains intense.
9
MORE: http://times.hankooki.com/lpage/nation/200308/kt2003082918445411990.htm
TRADE – KOREAN TRUCKERS STRIKE UPDATE: South Korea’s two major sea ports, Busan and
Gwangyang, recovered to near their normal operations level Thursday & Friday as a growing number of
truckers resumed work despite a union strike. Cargo flows in and out of Busan Port were estimated to
have returned to almost 80% of normal. About 30,000 truck drivers had refused to work, demanding
higher fees from trucking and shipping companies. The strike, which began Thursday, 21 August,
disrupted freight and paralyzed the nation's seaports, and officials estimate export losses have reached
$530 million.
MORE: http://www.koreaherald.co.kr/SITE/data/html_dir/2003/08/29/200308290011.asp
MORE: http://www.americanshipper.com/frm2001.asp?Target=NewsFrame.asp?news=14812
MORE: http://www.truckinginfo.com/news/news_detail.asp?news_id=50283
TRADE – RUSSIA WANTS FASTER BORDER CLEARANCE: A 21% jump in cargo moving into and
out of Russia is slowing border clearances. As a result, the Russian Transport Ministry is spending to
upgrade technology to increase border stations' carrying capacities and speed operations. The target
date for completion is 1 January.
MORE: http://www.rosbaltnews.com/2003/08/28/63866.html
TRADE – PANAMA CANAL DREDGING: The Panama Canal Authority says its $190 million channeldeepening project is 40% complete, ahead of schedule and within budget. The project deepens the
channel in Gatun Lake. The project is scheduled for completion by 2009.
MORE: http://www.joc.com/20030826/sections/ocean/w65310.asp
OCEAN – SLOW PEAK SEASON START: US West Coast ports have seen slow growth in
containerized imports from Asia in July, up 9% over 2002, indicating that the peak shipping season in the
eastbound Pacific has not yet begun. Carriers report that there is still space available on eastbound ships,
although advance bookings for September are strong, and space could be a problem next month. The
East Coast share of the trans-Pacific trade is now about 22%, up from 18% last year.
MORE: http://www.joc.com/20030825/sections/ocean/w67152.asp
OCEAN – USSEC RAISES RATES: The United States South Europe Conference has announced an
eastbound general tariff rate increase, effective 1 October. Rates for dry containers will increase $160 per
TEU and $200 per FEU. Reefer container rates will increase $240 per TE U and $300 per FEU.
MORE: http://www.joc.com/lede/20030826/sections/ocean/w61184.asp
MORE: http://www.americanshipper.com/frm2001.asp?Target=NewsFrame.asp?news=14781
OCEAN – IPBC RATE HIKE: The India-Pakistan-Bangladesh-Ceylon conference (IPBCC) said prices
on cargo moving from the Indian ports of Cochin, Chennai, Tuticorin, Kolkata and Haldia… from
Bangladesh and Sri Lanka to the United Kingdom, North Continent, Scandinavian, Baltic and
Mediterranean would increase by $150 per TEU and $300 per FEU. Rates were raised $250 in July. A
$250 rate hike goes into effect today.
MORE: http://www.joc.com/20030828/sections/ocean/w16908.asp
OCEAN – MCFC SURCHAGE: The Mediterranean-Canadian Freight Conference will implement a 6%
currency adjustment surcharge, effective 1 October.
MORE: http://www.americanshipper.com/frm2001.asp?Target=NewsFrame.asp?news=14782
OCEAN – US-MED BOOST: CMA CGM has decided to pull out of a slot-chartering agreement with
Maersk Sealand from the US East Coast to the Mediterranean and launch its own service with China
Shipping. Hapag Lloyd will further boost capacity in the trade with a new service in October.
MORE: http://www.joc.com/lede/20030829/sections/ocean/w82486.asp
OCEAN – GOODBYE KIEN HUNG: Hamburg Sud has dropped its Kien Hung brand for liner services
between Asia, South and West Africa and South America, opting to operate them under its own banner.
10
MORE: http://business-times.asia1.com.sg/sub/shippingtimes/story/0,4574,92253,00.html?
OCEAN – MAERSK SEALAND EXPRESS STILL GROUNDED:
MORE: http://iafrica.com/news/sa/266771.htm
OCEAN – ILWU & VANCOUVER TALKS TOMORROW: Negotiations are scheduled to resume
tomorrow between waterfront employers in Vancouver, British Columbia, and the foremen's local of the
International Longshore and Warehouse Union. The two sides met four times with mediator Bill Lewis
over the past two weeks.
MORE: http://www.joc.com/lede/20030827/sections/ocean/w42328.asp
OCEAN – IS VANCOUVER LOSING BUSINESS?
Uncertainty over the ongoing labor dispute between dock foremen and terminal owners on the west
coast is scaring away container shipments to the US and doing permanent damage to the Port of
Vancouver's international reputation. That is what the port's operating body is telling the media.
"We've definitely seen some diversions, there's no doubt about that," port spokesman Jon Hicke told
the Vancouver Sun. "We know that people are choosing to ship through the ports of Seattle and Tacoma
rather than Vancouver, but it's hard to get a sense exactly what the magnitude is. But it's certainly having
an impact and it's very concerning."
Traffic volumes are calculated monthly, which means the port won't know until early September
exactly how much the labour dispute has hurt shipments.
If the 424 foremen in Local 514 are locked out or go on strike, the 4,500 B.C. longshoremen beneath
them would stop working, resulting in a full-blown shutdown that would cost $80 million in trade a day in
Vancouver alone.
MORE: http://www.ctl.ca/article.asp?id=21666
OCEAN – AFRICAN FEEDER SERVICE: Clipper Elite Carriers (CEC) is launching a dedicated common
weekly feeder service between Abidjan and Lagos (Apapa). First loading at Abidjan set for 7 October.
MORE: http://www.ctl.ca/article.asp?id=21661
OCEAN – MORE BOOM TIMES REPORTS
The maritime sector is booming. P&O Nedlloyd, Moller-Maersk, Cosco and others report excellent
profits. With slow world economies, why the boom? Fewer available vessels and outsourcing of
manufacturing to low-cost Asian producers means more freight to move.
Analysts call this the "hollowing-out" of western economies - following a trend first seen in Japan - a
result of the very cheap transport available via ships which are often owned in Europe but crewed by lowcost Asians.
As a percentage of the total cost of goods, ocean freight is “next to nothing” says one analyst.
MORE: http://www.guardian.co.uk/business/story/0,3604,1030547,00.html
OCEAN – SHIPOWNERS THANK CHINA FOR BOOMING PROFITS: Less than two years after many
of the world's cargo ships lay idle and were worth no more than the scrap value of their steel, shipping
lines around the world are enjoying one of their most profitable booms ever, and they have the rapid
expansion of the Chinese economy to thank for it. The China shipping boom is driving up freight rates all
over the world, not just on Pacific Ocean routes. For companies that need to ship their products by sea,
the boom means higher costs. For consumers, though, there will probably not be any discernible effect on
price tags in stores, because sea shipping is generally a tiny part of the cost of most goods.
MORE: http://www.dailyreviewonline.com/Stories/0,1413,88~10982~1596515,00.html#
OCEAN – MISC PROFIT UP 63%: Malaysia International Shipping Corp (MISC), reports a 63% jump in
its fiscal first quarter profit, helped by better freight rates.
MORE: http://business-times.asia1.com.sg/story/0,4567,92159,00.html?
11
OCEAN – APL RATES UP 30%
Neptune Orient Lines container arm APL reports a 13% improvement in its average July freight rates
over its already 17% better first half average.
APL's average freight rates soared to US$2,665 per FEU (Forty-foot equivalent unit) - a 27%
improvement over the same month last year.
In a broader sense, the rate improvement clearly shows demand for ship capacity has caught up with
supply, and reflects the success of freight rate restorations negotiated in May.
APL chief Ron Widdows projects ships, “…to be full certainly through a September-October
timeframe.”
APL's load factors on its key transpacific route reached 96% eastbound but fell to 74% westbound in
the second quarter, while Asia-Europe was 90% and Europe-Asia soared to 102%.
MORE: http://business-times.asia1.com.sg/sub/shippingtimes/story/0,4574,91892,00.html?
OCEAN – WSC WANTS NEW “SHIPPER” DEFINITION: The World Shipping Council, representing
ocean common carriers, has filed comments to the Bureau of Customs and Border Protection on its
proposed regulations for advanced electronic presentation of cargo information. "The proposed rules
continue to allow NVOs the ability to "present the required manifest information for the related cargo to
the vessel carrier, which if automated, is required to present this information to Customs via the vessel
AMS system," WSC said. "We strongly request that this provision be eliminated and that NVOCCs be
required to provide the required information directly to Customs," says WSC in its filing.
MORE: http://www.americanshipper.com/frm2001.asp?Target=NewsFrame.asp?news=14806
US ECONOMY – STRONG REPORTS: Home sales, expensive goods and confidence all showed rosy
reports. July New Homes Sales were the second highest on record. Durable Goods Orders (goods
designed to last more than three years) rose 0.9%. The Conference Board reports Consumer Confidence
rose to 81.3, up 4.3% from July. Consumer expectations for the future stand at 94.4. "The general
conclusion that I would draw is that the recovery is gaining momentum but a large proportion of the
population are still waiting for some more proof," said Mark Vitner, economist at Wachovia Securities.
MORE: http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=2&u=/nm/20030826/bs_nm/economy_dc
nd
US ECONOMY – GDP JUMPS: The US Gross Domestic Product rose 3.1% in the 2
quarter.
MORE: http://story.news.yahoo.com/news?tmpl=story&cid=668&ncid=749&e=6&u=/ap/20030828/ap_on_bi_go_ec_fi/economy
US ECONOMY – CONSUMER SPENDING & INCOME UP IN JULY:
Personal Income rose 0.2% in July.
Consumer spending rose 0.8%.
MORE: http://story.news.yahoo.com/news?tmpl=story&cid=668&ncid=749&e=6&u=/ap/20030829/ap_on_bi_go_ec_fi/economy
12
> > > > > > > > > JUST FOR FUN < < < < < < < < <
(These are shared by readers – Please share yours. Thanks. Mike)
AllCoveredNEWS - EASY TO READ & PRINT VERSION:
http://www.allcovered.net/AC-News-PDF.htm
Labor Day Trivia
What was the average terms of
service for an indentured
servant?
When was the first labor union
formed in the US?
What was Samuel Gomper’s
occupation before he became a
labor leader?
When was the first 8-hour day
introduced in US?
What business was the target of
the “Homestead Strike?”
When did Labor Day become a
national holiday
Where was the first major “sit
down strike?
What was the first African
American union?
What was the combined
membership of the AFL-CIO
when the two unions merged?
When was the first US strike by
doctors?
A- one year
B- two years
C- four years
D- eight years
A- 1776
B- 1794
C- 1890s
D- 1900s
A- lawyer
B- plumber
C- electrician
D- cigar maker
A- about 1850
B- about 1870
C- about 1910
D- about 1950
A- railroad builders
B- oil refinery
C- steelworks
D- auto industry
A- 1850s
B- 1870s
C- 1890s
D- 1900s
A- Ada, Michigan
B- Houston, Texas
C- Akron, Ohio
D- Flint, Michigan
A- NAACP
B- Brotherhood of Sleeping Car Porters
C- MLK Jr. Union
D- Fellow Negro Assistance Union
A- 100,000
B- 1,000,000
C- 10,000,000
D- 20,000,000
A- 1925
B- 1950
C- 1975
D- 1990
Answers at end of Just For Fun section
REDNECK MURDER
Police have great difficulty solving murder cases involving rednecks. There are two reasons:
1) All the DNA is the same.
2) There are no dental records.
13
THIS IS WEIRD
While sitting at your desk make clockwise circles with your right foot.
While doing this, draw the number "6" in the air with your right hand.
What direction is your foot going now?
COMMUNICATIONS
It's all about interpretation and perception...
While attending a marriage seminar on communication, Tom and his wife Peg listened to the instructor
declare, "It is essential that husbands and wives know the things that are important to each other."
He addressed the men, "Can you describe your wife's favorite flower?"
Tom leaned over, touched his wife's arm gently and whispered, "Pillsbury All-Purpose, isn't it?"
The rest of the story is not pleasant.
LIFE EXPLAINED
On the first day God created the cow. God said, "You must go to the field with the farmer all day long
and suffer under the sun, have calves and give milk to support the farmer. I will give you a life span of
sixty years."
The cow said, "That's kind of a tough life you want me to live for sixty years. Let me have twenty and
I'll give back the other forty." And God agreed.
On the second day God created the dog. God said, "Sit all day by the door of your house and bark at
anyone who comes in or walks past. I will give you a life span of twenty years."
The dog said, "That's too long to be barking. Give me ten years and I'll give you back the other ten."
So God agreed.
On the third day God created the monkey. God said, "Entertain people, do monkey tricks, make them
laugh. I'll give you a twenty-year life span."
The monkey said, "How boring, monkey tricks for twenty years? I don't think so. Dog gave you back
ten, so that's what I'll do too, okay?" And God agreed again.
On the forth day God created man. God said, "Eat, sleep, play, marry and enjoy your life. I'll give you
twenty years."
Man said, "What? Only twenty years! Tell you what, I'll take my twenty, and the forty the cow gave
back, and the ten the dog gave back and the ten the monkey gave back, that makes eighty, okay?"
"Okay," said God, "You've got a deal."
So that is why the first twenty years we eat, sleep, play, and enjoy ourselves; for the next forty years
we slave in the sun to support our family; for the next ten years we do monkey tricks to entertain the
grandchildren; and for the last ten years we sit on the front porch and bark at everyone.
Life has now been explained.
ANSWERS TO LABOR DAY TRIVIA
1-c;
2-b;
3-d;
4-b;
5-c;
6-c;
7-c;
8-b;
9-c;
10-c
If you have curious or interesting or funny or thoughtful items that might be good in “Just For Fun”,
Email them to [email protected] . Thanks.
AllCovered-NEWS is a weekly service for clients and friends of Allcovered.net. It is intended to help our clients be more effective
and better informed than their competition. If you have not received AllCovered-NEWS before, you are receiving today either
because you signed up, or a friend recommended you. We hope AllCovered-NEWS is a valuable resource for you. If you wish not to
receive AllCovered-NEWS, please hit the “return” button of your browser. In the “Subject” line type “UNSUBSCRIBE” followed by
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14
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