Key Developments: Trailer Bridge, Inc. (TRBR.O)
4.95USD
9 Feb 2010
$-0.25 (-4.81%)
$4.95
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$5.25
$4.58
28,743
13,095
$6.17
$1.73
Latest Key Developments
Trailer Bridge, Inc. To Provide Assistance In Haiti Relief Effort Through Military Sealift Command Contract
Trailer Bridge, Inc. announced that it contracted with the Military Sealift Command (MSC), the transportation provider for the United States Department of Defense, to provide one of its vessels in support of the U.S. government's relief efforts in Haiti. The contract term is a minimum of 90 days and may be extended by MSC. Trailer Bridge has also partnered with one of its current shipping customers to provide free transportation and trailers for donated medical supplies to Port-au-Prince, Haiti, through the Company's operation in Puerto Plata, Dominican Republic.
Trailer Bridge, Inc. Announces Changes In Executive Management-DJ
The Dow Jones reported that, Trailer Bridge, Inc., after the completion of a management and organization review commenced by the Company's Chief Executive Officer, and to better align responsibility and promote cost efficiency, the Company made certain management changes on November 2, 2009. These changes include the resignations of Ralph W. Heim, President and COO, and Robert van Dijk, Vice President of Pricing. Each has been offered a severance agreement by the Company. Their respective positions are not expected to be filled, as the Company will distribute their responsibilities among other officers. Although these changes are expected to result in reduced operating costs and more streamlined responsibility, the Company expects to incur an estimated one-time $500,000 charge during its fourth quarter and year ending December 31, 2009.
Trailer Bridge, Inc. Appoints Ivy Barton Suter As Chief Executive Officer
Trailer Bridge, Inc. announced the appointment of Ivy Barton Suter as Chief Executive Officer (CEO), effective immediately. She succeeds Ralph W. Heim, who had served as the Company's Interim CEO. Mr. Heim will remain with the Company as President and Chief Operating Officer.
Trailer Bridge, Inc. Issues Q4 2008 Guidance
Trailer Bridge, Inc. announced that for the fourth quarter of 2008, it expects revenues to be approximately $33.3 million and net loss, inclusive of this non-recurring item, to be approximately $1.1 million, or $0.09 per share. Exclusive of this non-recurring expense, the Company expects to report a net loss for the fourth quarter 2008 of approximately $290,000, or $0.02 per share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $34.7 million, net profit of $2.50 million and EPS of $0.20 for the fourth quarter of 2008.
Trailer Bridge, Inc. Announces Resignation Of John D. McCown As Chief Executive Officer-Form 8-K
Trailer Bridge, Inc. announced in its Form 8-K that John D. McCown (McCown) resigned as Chief Executive Officer.
Trailer Bridge, Inc. Updates On Strategic Alternatives
Trailer Bridge, Inc. announced that the Committee formed to explore strategic alternatives is suspending its active review in light of a Justice Department antitrust investigation into pricing practices among Puerto Rico carriers. The Committee consulted with the McLean family and with the Committee's financial advisor, Jefferies & Company, Inc., and determined that the investigation would result in a less robust process. The Company has met with United States Justice Department attorneys, and has received a subpoena seeking certain documents and information. Trailer Bridge was not served with a search warrant, although press accounts indicate other carriers were. The Company immediately pledged full and complete cooperation with the Justice Department's investigation. The Company intends as well to defend vigorously the parallel private actions that have been filed, which the Company believes are totally without any merit.
Trailer Bridge, Inc. Announces Exclusive Multi-Year Contract By Costco
Trailer Bridge, Inc. announced that it has won an award to be the exclusive carrier for all Costco Wholesale Corporation shipments moving in dry containers to Puerto Rico. This represents new business for Trailer Bridge except for a small number of trial shipments started in mid-2007. Shipments under the new contract are anticipated to commence in April 2008.
Trailer Bridge, Inc. Announces Sale of Stock By McLean Family
Trailer Bridge, Inc. announced its Board of Directors has formed a Committee comprised of non-McLean family member Directors to explore a broad range of strategic alternatives to further enhance shareholder value. As previously announced, the McLean family collectively filed an amended Schedule 13D with the Securities and Exchange Commission on November 21, 2007 disclosing that the group members intend to actively pursue a sale of their Trailer Bridge shares. The group members, which include the sister and children of Trailer Bridge's founder, the late Malcom P. McLean, beneficially own approximately 5.8 million shares, or 47.8% of Trailer Bridge's outstanding common stock. Malcom P. McLean, Jr., one of the McLean family group members, and his brother-in-law, Greggory B. Mendenhall, also currently serve on the Company's seven-member Board of Directors.
Trailer Bridge, Inc. Announces Intention Of Sale Ot Its 47.8% Stake By Mclean Family
Trailer Bridge, Inc. announced that it intends to work with the McLean family, which collectively filed an amended Schedule 13D with the Securities and Exchange Commission on November 21, 2007 disclosing that the group members intend to actively pursue a sale of their Trailer Bridge shares. The group members, which include the sister and children of Trailer Bridge’s founder, the late Malcom P. McLean, beneficially own approximately 5.8 million shares, or 47.8% of Trailer Bridge’s outstanding common stock.
Trailer Bridge, Inc. Joins U.S. EPA SmartWay Transport Partnership
Trailer Bridge, Inc. announced that it has joined the SmartWay Transport Partnership, an voluntary collaboration between the U.S. Environmental Protection Agency (EPA) and the freight industry designed to increase energy efficiency while significantly reducing greenhouse gases and air pollution.
US-RESEARCH/ (NON-S&P500)
Trailer Bridge Stifel Cuts price target to $8 from $9; rating buy ---------------------------------------------------------------- ----------- Treehouse Foods S&P Equity Cuts to buy from strong buy --------------------------------------------------------------- ------------ UAL Corp Merrill Lynch Raises to buy from underperform,
Earnings vs. 
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