Fifty area trucking & logistics firms gather in Davidson -- a $81,000 fundraiser to fight Cystic Fibrosis; event includes GE satellite tracking technology demo

DAVIDSON, N.C., SEPTEMBER 25, 2006 - A bright blue, 53-foot semi-trailer outfitted with the latest satellite tracking technology from GE greeted trucking executives from around the state and nation here today as they met to raise $81,000 for the Charlotte Chapter of the Cystic Fibrosis Foundation.

The transportation and logistics professionals, from nearly 50 firms, were in town to participate in the third annual Rosebuds Charity Golf Tournament, hosted by GE's Industrial division in Huntersville. During their morning registration check-in, golfers were first treated to an up-close look at the latest technology helping truckers and shipping companies deliver consumer and wholesale goods to local stores. Truckers are dealing with a "quadruple whammy" of rising diesel prices, an ongoing truck driver shortage, increasing cargo security requirements, and congested roads and railways.

"GE's tracking technology helps truckers find and manage their trailers, saving time and money, " said Vince Gamba of GE. "Likewise, we hope the proceeds from our charity golf tournament here today will help researchers track down a cure for Cystic Fibrosis, helping save lives and enable future happiness for so many people."

Parents of children with Cystic Fibrosis track every development in drug therapy very closely, hoping that research can stop -- or at least slow -- this killer disease that affects 30,000 people nationwide. More than 10 million people are genetic carriers. Carriers each have one copy of the defective CF gene, but do not have the disease and its symptoms. It takes two copies of the gene for a child to be born with cystic fibrosis.

For people with CF, the defective gene causes the body to produce a faulty protein that leads to abnormally thick, sticky mucus that clogs the lungs and can result in fatal lung infections. The mucus also obstructs the pancreas, causing difficulty for a person to absorb nutrients in food.

"An article published in Forbes this week highlights research done at the University of North Carolina at Chapel Hill that has resulted in the development of Denufosol--a promising drug moving through our robust drug pipeline," said Dr. William Ashe, of the Pediatric Charlotte CF Care Center Affiliate Asthma & Allergy Associates. "In fact, Denufosol has just entered Phase 3 clinical trials, and will be available to patients willing to participate in the study being conducted at CF care centers throughout the country. This work has been supported by the Foundation for more than 15 years, and would not be possible without the generosity of organizations like GE."

GE's trailer tracking solution: VeriWise Asset Intelligence

By tracking trailers carrying food and retail goods in transit, GE's VeriWise Asset Intelligence system protects consumers from product tampering and higher prices due to cargo theft.

GE's VeriWise solution is a virtual "brain," developed by GE for the trailer portion of an 18-wheeler big rig. Since 2003, it has helped shippers maintain reliable delivery of consumer goods such as produce, clothing and electronics. The VeriWise solution helps trucking companies better allocate their trailers in the face of a critical national truck driver shortage. This solution can also support better homeland security by offering another layer of protection as trailers and containers move from ports and rail hubs to destinations across North America.

Mobile Solutions Center Gives Live, High-Tech Demonstration

GE is demonstrating to its trucking customers, students and consumers in North Carolina this new tracking technology that is changing the future for the trailer portion of big rigs. Once equipped with dual satellite technology, and a trailer-mounted transceiver, the VeriWise solution can track the location of trailers, whether hooked or unhooked to a cab, as well as transmit information regarding the status of the cargo inside. The company is showing the system in an interactive, state-of-the-art, custom-built, 53-foot technology demonstration trailer, called the GE Mobile Solutions Center.

According to the American Trucking Associations (ATA), trucks are the sole means of delivery for 80 percent of the consumer and industrial goods that find their way into American homes. Virtually everything consumers use, including the mail, is delivered by a truck.

As a result, with the heavy dependence on trucking in this country, security experts estimate that truck cargo theft costs shippers nearly $45 billion a year. The replacement cost for one trailer without cargo can run between $20,000 to $50,000 just by itself; but high-value cargo can be worth $1 million or more to thieves, so trailers are a tempting target-and one which needs close monitoring at all times.

Big Rig Trailers - From "Dumb" to "Smart"

Previously trailers were considered "dumb assets" that were largely ignored, except during loading and unloading . Today however, trailers outfitted with GE's VeriWise system are considered integrated "smart assets" that can report location, cargo status and other critical information back to customers. The system can send an alert directly to a subscriber's email or cell phone if the trailer is at an unplanned location, or if its doors and cargo have been accessed unexpectedly.

The VeriWise Asset Intelligence solution is a new technology resource to help trucking companies maintain productivity while they wrestle each day with the impact of the current driver shortage and asset utilization challenges. In many cases firms now instruct their drivers not to wait for completion of a load/unload cycle, but instead to leave the trailer and return for it later after the unit has been loaded with a new shipment of cargo. However, once a trailer is disconnected from the cab, it can easily "disappear" through theft, temporary, unauthorized use, or simply losing track of its location.

Trucking companies now can use trailer tracking technology from GE to avoid losing trailers, locate stolen trailers and the cargo they contain, or to monitor trailers left by the driver to detect and prevent unauthorized transport in between loads-all situations that drive up operating costs for shippers and ultimately consumers. The VeriWise system data can be communicated to local authorities and law enforcement to more quickly determine the nature of unauthorized activity, based on both the status of the trailer and the load contained inside the trailer.

VeriWise Asset Intelligence, an Effective Tool for Shippers

Implementing the VeriWise system can help trucking companies more effectively manage their operations. Early adopters of tracking technology have described a 10 to 15 percent gain in productivity, while at the same time improving their safety record on the roads they share with the public. This is due to the fact the VeriWise system can be used to alert companies in advance when preventative maintenance should be performed on trailers.

"Our VeriWise system helps manage many critical issues important to both trucking companies and to motorists," said Thomas Konditi, President & CEO of GE's Asset Intelligence group. "Trucking companies want better security and safety for their trailer fleets, and they also are keenly interested in improving freight transport and driver productivity without increasing the size of their current trailer fleets." Konditi said the new GE Mobile Solutions Center has been doing a very effective job of framing the security, safety and productivity issues for trucking companies and consumers throughout the country while also acting as a mobile lab with a working VeriWise solution.

GE's Mobile Solutions Center Travels Across the Nation

GE's new Mobile Solutions Center is on a national tour, educating trucking companies about the VeriWise Asset Intelligence solution, and the value it can provide not only to trucking companies but also to consumers and the public traveling the nation's roadways.

For example, last year's driver hours-of-service (HOS) regulations passed by Congress are designed to increase driver alertness and to reduce fatigue-related accidents to make trucking, and the roads trucks use, safer for everyone. HOS regulations now require drivers to rest for longer time periods to eliminate unsafe hours behind the wheel.

The challenge for trucking companies is to effectively manage the limited number of drivers available and still meet their customer shipping schedules-while adhering to the HOS regulations. Being able to locate and remotely track trailer assets with the VeriWise system can make driver scheduling more efficient, especially for the larger trucking companies.

The system also helps trucking companies manage equipment and insurance costs-both important issues to be managed effectively so that the trucking industry can help shield consumers against price inflation. While replacing the asset by itself is costly, some trailers contain high-value shipments such as prescription drugs, computers or consumer electronic favorites like plasma TVs or the popular Apple iPod (18,696 iPod packages fill the volume of a typical 53-foot dry van trailer) -- potential theft targets which require careful monitoring. Every tractor-trailer load is valuable to the shipper and to that shipper's customer. The VeriWise Asset Intelligence solution from GE, while technically sophisticated, is easy to install and use for trucking companies, thereby providing information access and knowledge about the status of a trailer throughout the life cycle of a tractor-trailer shipment.

The Term "Telematics"

GE developed the VeriWise Asset Intelligence system at the company's Telematics Center of Excellence in the GE Global Research Center, located in upstate New York. Telematics is a term used in the trucking industry to describe the integration of wireless communications and sensor-generated information about freight and equipment status.

GE customers and trucking companies may obtain more information about the VeriWise solution and the Mobile Solutions Center by contacting their local Trailer Fleet Services GE branch or accessing the web site at www.trailerservices.com.

About the Cystic Fibrosis Foundation

The Cystic Fibrosis Foundation, headquartered in Bethesda, Md., is a donor-supported, nonprofit organization committed to finding therapies and ultimately a cure for cystic fibrosis, and to improving the lives of those with the disease. For more information, visit www.cff.org.

About GE's Asset Intelligence and Trailer Fleet Services

Asset Intelligence and Trailer Fleet Services are two business units of Stamford, CT-based Equipment Services. Based in Schaumburg, IL, GE's Asset Intelligence division represents the 'intellectual horsepower' of GE, deployed to address the challenges of the global supply chain. GE's VeriWise Asset Intelligence solutions platform leverages the latest communications and web technologies, to enable better tracking, monitoring and management of valuable transportation assets and cargo. With quick access to actionable intelligence (not raw data), GE customers are empowered to make more informed decisions about securing and optimizing their asset portfolios and streamlining their supply chains. At GE, we believe that what our customers imagine, we can help make happen.

GE's Trailer Fleet Services business (formerly known as Transport International Pool, or TIP), is based in Wayne, Pa., and is a single-source provider for all aspects of trailer fleet management. For nearly 50 years it has been a recognized leader in over-the-road trailer solutions, which today includes everything from leasing, renting, financial services, insurance, maintenance, remarketing and asset tracking. GE's Trailer Fleet Services business has 135,000 over-the-road trailer assets, and operates a North American network of 100 branch locations, staffed by a sales and operations team of 900 employees. Its website is www.trailerservices.com.

For a Word version of this release click here.

MEDIA CONTACTS FOR MORE INFORMATION

GE:
Patrick Brennan, Media Relations Manager, 610.213.2075 or patrick.brennan@ge.com
Gautham Appaya, Media Relations Manager, 630.363.5830 or gautham.appaya@ge.com

Cystic Fibrosis Foundation:
Sabrina Watt, Cystic Fibrosis Foundation - Charlotte, 704.321.7852 or swatt@cff.org

What Customers are saying about GE's VeriWise Asset Intelligence Technology

 

• Bekins Van Lines, Hillside, IL

  "The VeriWise Asset Intelligence technology gives us the ability to update the positioning of equipment around the country and helps our Operations group plan capacity as new orders come in."

• Billings Transportation Group, Inc, Lexington, NC
  "VeriWise Asset Intelligence was the answer to our textile customers' request for added load security through accurate location data. Anytime you send equipment into new territory, you have a responsibility to know where it is. It's also a plus to know where it is in our own system."

• Caldwell Freight Lines, Inc., Lenoir, NC
  "The routes that Caldwell Freight runs generally have up to 15 stops. Being able to check on trailers multiple times in any given day enables us to keep customers apprised of delivery schedules in real-time. Using the data collected via VeriWise Asset Intelligence and our website, we can offer our customers the best shipment-tracking system available."

• G&P Trucking Company, Inc., Columbia, SC
  "We operate out of multiple terminals throughout the Southeastern US, each of which maintains a separate fleet, creating a complex equipment management matrix. With a large number of lease and rental vehicles in our fleet, the VeriWise solution meshes seamlessly with our internal fleet management software."