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Oil Surges Past $100 A Barrel, Prices At The Pump Hit $3.60 A Gallon
American Software Reports Third Quarterof Fiscal Year 2022 Results
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Faceit and ESL Gaming Sold for $1bn to Savvy Gaming Group
WordPress Hosting: All You Need To Know To Find The Best WordPress Hosting
Selecting the finest WordPress hosting for your needs may improve your website performance and profits. In this article, we'll help you pick the best one.
The post WordPress Hosting: All You Need To Know To Find The Best WordPress Hosting first appeared on Ecwid | E-Commerce Shopping Cart.
5 Insurance Chatbot Use Cases Along the Customer Journey
Policyholders are in control. They’re turning to online channels for self-service insurance information and support — instantly, seamlessly, and at any time.
The post 5 Insurance Chatbot Use Cases Along the Customer Journey appeared first on Inbenta.
National Private Truck Council (NPTC) Survey Highlights Value, Performance of Private Fleets
The National Private Truck Council 2021 Benchmarking Survey Report provides fleets with new industry standards to evaluate performance and identify opportunities for improvement.
"Information is power," explained Jim Lager, senior vice president for Penske Truck Leasing. "Fleet operators need real-time data to make informed decisions about their business. They want to know if what they are doing is best-in-class or underperforming, and how they can improve. Being able to see that information helps them identify areas of opportunity within their operations."
Lager added that every aspect of the supply chain is stressed right now. "I think it is even more critical to have good information and good partners to talk to about it," he said.
The 2021 NPTC Benchmarking Survey Report, which is sponsored by Penske, captures critical metrics from the 2020 calendar year, which was a time like no other.
"The purpose of this report is not to critique any fleet's performance, but rather to give them the tools so when they need the answers and the metrics in their continuous improvement efforts that they can grab onto those metrics in the report and move on," said Tom Moore, executive vice president of NPTC.
Even with the challenges, private fleets performed well and used their advantages to navigate supply chain challenges, hauling more shipments and volume than they did in the previous year.
Moore continued: "The thing that really impresses me, despite everything that is going on in the pandemic, is the stability that occurred in our private fleet management. We didn't see extreme swings in terms of equipment buying or a lot of change in the driver hours, even though the DOT extended those hours. Those folks stuck right in that core business. I thought that was a telling statement for how private fleets position themselves for success."
Supply chain challenges have helped private fleets raise the awareness and importance of transportation generally within their companies.
"In the last three to four years, companies have decided to start their own private fleet from scratch because of the vulnerability in finding transportation," said Gary Petty, CEO of NPTC. "I think a lot of companies are saying, 'We can manufacture the greatest product around, but if we can't get it in a way that has no damage and no loss that is timely, it doesn't matter.'"
Many private fleets shined during COVID disruptions and were able to navigate capacity constraints and surging costs others faced within the transportation market, strengthening the case for having a private fleet.
"Private fleets are resilient and flexible," Lager said, adding that more and more companies are considering and transitioning to private fleets. "That is a result of the spot market and the carrier situation driving them toward that so they could control their destiny. They don't want to trust that to a carrier. They want to do it with a partner like Penske."
Petty stated 75% of the private fleets in the study are operating as cost centers or, as he calls them, contribution centers. "They're in it to provide outstanding customer cost in the most effective and efficient manner possible. Whatever financial model, the goal is to deliver exceptional levels of customer service in the most efficient manner possible," he said.
As in years past, the primary reason companies report operating a private fleet is to provide exceptional levels of customer service that are unavailable on the open market, especially at a time when transportation and logistics capacity has been relatively constrained.
In the latest study, more than 92% of the respondents, in response to the open-ended question, 'What is the primary reason your company operates a private fleet?,' answered customer service.
Measuring on-time performance remains the primary means of tracking customer service, although other metrics are growing in acceptance.
This year 68% of the fleets report measuring on-time performance as opposed to 82% last year.
This erosion in on-time deliveries makes room for a bevy of other metrics, according to the NPTC report, most notably safety scores, tracked by 56% of respondents (53% last year); cost-per-mile, tracked by 55% of the respondents (35% last year); and customer comment, tracked by 32% of the population.
Shipments for private fleets were up from last year by 9.7%, and volume was up by 5.6%. This growth is supported by an overall mileage increase of 5.7%, which means that fleet respondents accomplished these gains rather efficiently, according to the report.
Even still, private fleets do face challenges, with driver-related issues being the No. 1 challenge listed. Driver-related issues are cited by nearly every respondent, often more than once. Rounding out the list of issues cited by fleets are: Cost-related issues; equipment and maintenance; customer service; regulatory and safety.
While driver issues remain top-of-mind, private fleets perform better than the for-hire population. "While everybody is feeling the driver shortage, it is less at private fleets," Penske's Lager said.
This year's survey found that driver turnover fell to 15.8%, nearly three full percentage points down from last year's 18.5% turnover rate and much lower when compared to the for-hire segment. Private fleet's average driver turnover is 14.25% over the 15-year history of the survey, and the average driver in the NPTC survey stays with a carrier for more than ten years. "That is extraordinary," Petty said.
NPTC started tracking metrics surrounding the time to hire and the hiring process for the first time. NPTC found that the average fleet has to review, screen and/or interview 19.7 candidates to fill one driver's seat, and the average time to hire a driver candidate is 34 days.
"Private fleets understand you get what you pay for," Moore stated. "They changed the mentality from speed-to-hire because they want to hire the right person.
The three top reasons for turnover are discipline issues, drivers leaving for another job, or retirement.
Moore noted: "For those leaving for another job or discipline issues, that tells me a private fleet can do a better job in the hiring process. If you're asking the right questions in the interview, you can identify what drivers are more likely to leave or will have discipline issues."
For the first time, NPTC asked fleets how much it cost to bring a driver on board. It is about $7,500 for the typical heavy-duty operation, and $3,400 for medium-duty fleets.
The survey also examined which freight movements private fleets haul and which they contract out. Private fleets typically handle about 2/3 of the outbound flow of goods and work with third-party carriers to handle the rest.
For-hire motor carriers handle 17% of all outbound freight movements, while dedicated contract carriers perform 12%. When deciding how to position the private fleet, survey respondents mention numerous inter-related and overlapping factors. The most frequently highlighted are cost, service, geography, and proximity to customers, and backhaul loads.
Empty mileage rates decreased, with an empty mileage of 26% down from last year's 33.3% and the previous year's 28.4%. NPTC found that 28% of respondents reported improved empty mileage, and Lager said reducing empty miles is top-of-mind for carriers. "There is not the luxury of being inefficient right now."
Penske Truck Leasing helps customers analyze their network to determine the best lanes to handle internally and the best to outsource.
"We have the engineering capability and capacity to analyze a customer's entire operation and make a recommendation," Lager said. "We can process the data and optimize it in several ways. It isn't always about cost; it is about delivery windows and meeting schedules. We can display all of that and help them make those decisions."
Use of on-board safety technology continues to increase, and not one respondent indicated not using on-board safety technology.
"If you're not safe, you're not going to be efficient, and the rest of the metrics don't matter," Moore said. "The safety record continued to get better and stronger and was one of the best years we ever had."
Survey participants can request customized data pulls that compares data of peer or like-kind fleets in the same market.
Petty: "It is apples-to-apples numbers they can use. This is powerful information internally. We have found once companies get on the track of scoring themselves against peers, it gives the whole benchmarking exercise a powerful boost of credibility."
By "Move Ahead" Staff
Penske Recognized as a 2022 Military-Friendly Employer
Committed to helping veterans move forward, Penske was recently named a 2022 Military-Friendly Employer. This honor recognizes companies that have remained steadfast in creating employment opportunities for veterans.
The list was established by VIQTORY nearly two decades ago. VIQTORY, which publishes G.I. Jobs and Military Spouses magazines, links the military community to civilian opportunities.
Penske is proud to be among 308 employers to earn the Military-Friendly Employer designation. In the past year, veterans represented nearly 9% of all Penske new hires – a testament to Penske's robust support to veterans and veteran organizations.
Since 2003, the Military-Friendly lists have set the standard for organizations to provide the best opportunities for veterans and military spouses.
"Penske is proud and honored to have earned the silver Military-Friendly Designation for 2022," said Nikita Rhodes, vice president for diversity and inclusion at Penske. "This designation is important because it highlights to associates, customers and suppliers that Penske is committed to the military community."
Rhodes continued, "We recognize the hard work, dedication and perseverance that veterans bring to Penske. While these characteristics are important to our organization year-round, they are especially important on Veterans Day. That's why we take time to recognize and thank our veterans for their service and sacrifice. We couldn't be more proud and grateful for the more than 1,700 veterans that we currently employ as part of our Penske family."
Driving Military Recruitment
Penske actively recruits veterans by promoting employment opportunities in military publications, on veterans' job boards, and through exclusive partnerships with military-friendly organizations such as ESGR, G.I. Jobs, RecruitMilitary, Military Officers Association of America, VetCentral, VRS Virtual Veteran Career Fairs, Hirepurpose, Corporate America Supports You, Lucas Group and Bradley-Morris, Inc.
Penske has teamed up with Veteran Recruiting (VR) and other leading employers to support the VetFriendly Jobs Initiative to hire or train 100,000 veterans by 2020.
The company was one of many that joined efforts with VR to support the White House Joining Forces Initiative, which led to the hiring of 170,000 veterans between 2011 and 2016.
Military-Friendly Organization Supporter
In addition to hiring, the company is proud to partner with and support military-friendly organizations, including The Paralyzed Veterans of America's Mission: ABLE campaign and Support Military Families.
Penske Truck Rental, a division of Penske Truck Leasing, joined with Paralyzed Veterans eight years ago to create the #OneWay4PVA campaign, which encourages rental customers to donate $1 to Paralyzed Veterans Mission: ABLE campaign.
The generosity of one-way customers and Penske donations on all one-way moves have resulted in more than $3 million for Paralyzed Veterans.
Penske associates regularly volunteer for organizations that support and honor our troops and veterans, like the Paul R. Gordon Veteran Social Center of Berks County in Reading, Pennsylvania.
In addition, Penske offers discounts on truck rentals for active military members and veterans when reserving one-way truck rentals online.
Both Penske Truck Leasing and Penske Logistics offer a wide range of career opportunities, including truck fleet maintenance technicians, truck drivers, fleet maintenance supervisors, operations management roles, as well as logistics and supply chain operations roles and many others.
Visit https://penske.jobs/veterans/ for more information on career opportunities.
By "Move Ahead" Staff
Review of Splitgate: Arena Warfare In 2021 🌀 Is It Still Worth It?
“What would happen if Halo and Portal meet up?” Splitgate happens. That premise has been used to promote this game since the beginning. But why, if it’s a mix between two highly-acclaimed games, then it’s not well-known? Let’s find out. Review: What Is Splitgate: Arena Warfare? Is It Worth It In 2021? As […]
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What is Ethereum? The ULTIMATE Research-Backed ETH Guide
Windlab
The Case for Windlab
. | 2017 | 2016 | 2015 |
Revenue | $ 24,515,379 | $ 18,101,100 | $ 10,012,006 |
Expenses | -$ 10,098,372 | -$ 13,023,113 | -$ 8,524,804 |
Profit before income tax | $ 14,417,007 | $ 5,077,987 | $ 1,487,202 |
Income tax | -$ 4,912,534 | -$ 1,779,491 | $ 14,687 |
Profit | $ 9,504,473 | $ 3,298,496 | $ 1,501,889 |
Equity at the start of the year | $ 13,404,230 | $ 9,207,680 | $ 7,699,065 |
ROE | 71% | 36% | 20% |
Average | 42% | ||
The company is able to achieve this sort of ROE as windfarm developments are sold once all approvals and agreements signed but before construction begins, meaning developing multi-million dollar projects does not require significant capital. For example, take the site of the Coonooer bridge wind farm, a 19.8 megawatt wind farm in North Western Victoria with a total development cost of $48.6 million. After identifying the site with Windscape, Windlab spent only $300,000 in acquiring the land, then spent $2.2 million or research and planning applications for a total investment of only $2.5 million. Windlab then sold 96.5% of the equity in the Coonoer Bridge to Eurus Energy for just over $4.7 million who then funded the construction of the site with help from grants from the state government. In total, Windlab walked away from this transaction with over $4.7 million in cash and a remaining 3.5% stake in the project, a return of over 111% on the initial investment.
Valuation
- 640 megawatts of approved potential capacity across multiple projects in South Africa. (While South African Renewable Energy projects have been on hiatus, it does seem the projects are about to get up and running again after a recent change of government
- 250 megawatt project in Northern Queensland that Windlab is intending to submit a development application for in 2019
- 230 megawatt project in Vedigre USA that Windlab no longer has control over, but is eligible for up to $4.6 million in success payments if the project reaches financial close.
Project | Value |
Lakeland | $ 10,200,000.00 |
East African projects | $ 42,300,000.00 |
Greenwich | $ 2,800,000.00 |
Other projects | $ 15,000,000.00 |
Total | $ 70,300,000.00 |
Book value | $ 9,690,000.00 |
three years of annual costs | $ 19,200,000.00 |
tax on projected profit | $ 12,423,000.00 |
Value after tax | $ 38,677,000.00 |
Area | Value |
Development Projects | $ 38,677,000.00 |
Operating wind farms | $ 52,770,000.00 |
Asset Management business | $ 8,500,000.00 |
Windscape software | $ 10,000,000.00 |
Cash | $ 14,622,414.00 |
Liabilities | -$ 10,755,130.00 |
Total | $ 113,814,284.00 |
Shares outstanding (diluted) | 73848070 |
Price | $ 1.54 |