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[SoWhat]

Press Release Source: PACCAR

Guten Abend,

sowas hier vorzustellen ist eigentlich Wahnsinn. Deshalb hab ich bisher sein gelassen. Aber einen Blick über die bisherige Entwicklung sollte für zukünftige Entwicklungen das Auge schulen




PACCAR Announces Dividend
Tuesday July 8, 2:24 pm ET


BELLEVUE, Wash.--(BUSINESS WIRE)--July 8, 2003--PACCAR Inc`s (Nasdaq:PCAR - News) board of directors today declared a quarterly cash dividend in the amount of twenty-two cents ($.22) per share, payable September 5, 2003, to stockholders of record at the close of business on August 18, 2003, according to Mark C. Pigott, PACCAR chairman and chief executive officer.
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality, light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt, DAF and Foden nameplates. It also provides financial services and distributes truck parts related to its principal business. In addition, the Bellevue, Washington-based company manufactures winches under the Braden, Gearmatic and Carco nameplates.

PACCAR shares are traded on the Nasdaq Stock Market, symbol PCAR, and its homepage can be found at www.paccar.com.



--------------------------------------------------------------------------------
Contact:
PACCAR
Andy Wold, 425/468-7676

Good luck

sowhat

[cirun]

hallo, schau mal bei sbac und rcnc. usa Telecoms mit restrukturierten schulden und sich bessernder Geschäftslage

[SoWhat]

Mach ich gern, aber mit diesem Stock bin ich sehr happy

[SoWhat]

Guten Morgen,

interessanter Artikel aus Forbes:

Forbes Magazine
A Long Haul
Thursday July 24, 6:35 pm ET
By Jonathan Fahey
The world`s two biggest heavy-truck makers are trying to get heartland truck buyers to act like Europeans. Good luck.


Market share

DaimlerChrysler38%
Freightliner, Sterling, Western Star

Paccar24%
Peterbilt, Kenworth

Volvo21%
Volvo, Mack

Navistar17%
International


Imagine going to a Ford car dealership and insisting on a certain size and type of fuel tank, exhaust pipes and axles for your car. You could bring in a color sample and tell them to match it. You could even tell the salesman to install an engine that was made by General Motors.
That`s how it has long worked in the heavy-truck market in North America, where tractor-trailers weigh 33,000 pounds or more. The brawny rigs are as different as snowflakes. This is appealing to truck buyers but a costly headache for DaimlerChrysler and Volvo. Instead of selling their own $20,000 engines, for instance, they end up installing Cummins engines.

Truck drivers elsewhere in the world somehow get by with far more limited options. Now DaimlerChrysler (NYSECX - News) and Volvo (NasdaqNM:VOLVY - News), the world`s two biggest truckmakers, are saying it`s high time their U.S. customers weaned themselves from the notion of the bespoke vehicle. "We have to learn to say, `Mr. Customer, this is the truck you will need,`" says Michel Gigou, head of Volvo`s North American truck operations.

Perhaps mass production would do something for the bottom lines. Last year Volvo, which owns the Mack brand and Renault`s truck operations, made just $321 million on sales of $20 billion. DaimlerChrysler`s commercial vehicle division, which includes Freightliner, Sterling, Western Star, Mercedes-Benz trucks and Mitsubishi-Fuso, lost $360 million on sales of $30 billion.

Volvo (no relation to Ford`s Volvo car division) says it has saved $400 million over the last two years integrating its truck business and commonizing parts. Over that period it has increased penetration of Volvo engines in Volvo-brand trucks from 10% to about half, the rest being sold with Cummins engines. Customers get up to $1,500 off the cost of a Volvo--which range in price from $70,000 to $120,000--if they pick a Volvo engine. Leif Johansson, Volvo`s chief executive, says he hopes to save at least another $400 million over the next several years by replacing the now-distinct Volvo and Mack engine lines with a single family of engines.

DaimlerChrysler is on the same track. Eckhard Cordes, its commercial truck chief, is pushing his North American customers to use engines supplied by Mercedes-Benz or Detroit Diesel, the heavy-duty engine maker DaimlerChrysler bought in 2000. DaimlerChrysler puts its own engines in 60% of its Freightliner trucks, but it won`t say how that compares with earlier years. Cordes` next move: Replace three engine families--from Europe, North America and Asia--with one.

Truckers are a finicky bunch, though. A hauler who wants to fill his truck to the top with heavy material wants a light-bodied truck with a small fuel tank, so he can pile on as much as possible and stay within weight limitations. A hauler who has to go cross-country as fast as possible wants a speedy, comfortable truck with a big fuel tank.

Yellow Transportation, one of Volvo`s biggest customers, puts millions of miles on each of its 2,000 Volvo trucks, and has a pretty good idea about what kind of truck it needs. When its drivers complained that the grab handles on the doors got slippery in bad weather, Yellow had Volvo redesign its doors to put the handles on the inside. "We`re willing to listen, but our specifications are based on years of experience," says James Welch, who runs Yellow Transportation. Most of Yellow`s Volvos have engines made by Detroit Diesel, the rival engine maker. To win Yellow over to Volvo engines on new vehicles, it let the buyer heavily test the engines on the road and sweetened the warranty.

If the U.S. truck market were a duopoly, the manufacturers could have their way. But they aren`t the only game in town. Truck buyers also have Paccar (NasdaqNM:PCAR - News) (whose brands are Peterbilt and Kenworth) and Navistar (NYSE:NAV - News) (brand: International). Neither Paccar nor Navistar makes its own heavy-duty engines, so both buy engines from Cummins and Caterpillar. Under the circumstances, a highhanded "You can have any engine you want as long as it`s one of ours" might cost Volvo or Daimler a lot of sales.

The truckmakers have allies: the dealers. Dealers would be pleased to equip their mechanics with only one set of engine replacement parts and manuals. Also helping the cause of limited engine choice: the Environmental Protection Agency. Antipollution rules are forcing customers to buy new engines anyway, so they might just end up buying from the manufacturer of their truck.

Not just the engines need an upgrade. After a three-year drought in purchase orders, the nation`s fleet is, on average, over seven years old, older than it has been since 1993. Looking to a quick end to the capital goods recession, investors are ignoring a 6% decline in sales volume for the first six months of the year (per wardsauto.com) and bidding up the ADRs of Volvo and the shares of Navistar and Paccar.

If truckmakers succeed in getting customers to accept their engines, they will then try to reduce the choices for other components. Volvo doesn`t yet offer a homemade transmission in the U.S., but has plans to introduce one. DaimlerChrysler announced a plan in July to consolidate its now far-flung truck development operations so it can standardize components like transmissions, axles, chassis and cabs. The customers might go along, says Jan Nussbaum, owner of Central Illinois Trucks in Normal, Ill., provided the vehicles have real curb appeal. This is beginning to sound like the car business.


Good luck

sowhat