More Grief for Gardell.
We're beginning to feel a bit sorry for Christer Gardell.In truth, that's probably an exaggeration, but even so. No sooner has he been told that he's not wanted on (the AB Volvo) board - despite having around 10 per cent of the vote - he's being given the Bronx Cheer by Volvo AB Chairman Finn Johnsson. Gardell wants AB Volvo to get shot of its marine-engine and aircraft-components operations, and Johnsson is having none of it.Sooner or later, CG is going to take the hint that he's about as welcome at AB Volvo as a numerate auditor would have been at Enron and decamp. What happens to his shares then, we ask?
Indian Truck Operators Up Freight Rates to Match Increased Borrowing Costs.
There's an interesting tale in the Indian press that concerns local truck operators' plans to up freight rates as a result of interest rate increases that have increased cost-of-ownership by almost 40 per cent.Truck companies are planning to increase freight rates by 10-15 per cent after the prevailing interest rate rose from 10 to 15 per cent a few months ago. Over 98 per cent of Indian commercial vehicles are financed.