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Friday, February 06, 2015 11:00:30 AM
Congress Rolls Back Trucker Rest Requirements
Rollback of Trucker Rest Requirements Could Prove Bullish for ICOR Stock
(NEW YORK)—The recently passed US spending bill was a provision to rolled back current rest requirements allowing for longer hours on the road for trucker, and less rest between driving hauls, which may in turn put a new focus on driver alertness technologies.
As Congress rushed to pass a new omnibus spending bill to keep the government running for next fiscal year, one of the provisions baked into the bill was to roll back trucker rest requirements, thus allowing truckers to driver longer hours in between rest required periods.
In a letter sent to Senate and House appropriations committees before the bills approval, U.S. Transportation Secretary Anthony Foxx stated, “The evidence clearly shows that truck drivers are better rested and more alert after two nights of sleep than one night, and that unending 80-hour work weeks lead to driver fatigue and compromise highway safety.”
Truck crashes caused 3,912 deaths in 2012, and the fatal-crash rate increased each year from 2009 through 2012, reversing a five-year trend.
These regulatory roll-backs come on the heels of the Metro North train derailment in New York City, and the June accident involving Walmart truck on the New Jersey Turnpike, which critically injured actor and comedian Tracy Morgan, and killed fellow comedian James McNair, both shown to be caused by driver and operator sleep fatigue.
As these new rules come into effect, and news of crashes due to trucker sleep fatigue continue to hit the headlines, driver alertness detection technology companies may garner increased interest, such as with InterCore, Inc. (OTC:ICOR)
InterCore is currently focused on the commercialization and deployment of their DADS(TM) proprietary alertness detection technology, which is a real-time monitoring and warning system that can assist in preventing accidents caused by driver fatigue, lack of alertness, or distractions.
In early December 2014, the Company announced that they had launched their driver alertness product, which was available for download at http://dads.srgint.com. This comes in conjunction with their announcement in September that the first of two driver simulator tests of its alertness detection technology had been completed by an independent European transportation firm on behalf of a major multinational corporate client, and is currently deployed in a commercial demonstration program of 5,000 trucks insured by a major insurance carrier.
Insurer Mandates
A bullish aspect for this technology may be the push by insurers to implement such technology in a carriers fleet, or face higher insurance premiums due to risk of higher liabilities from potential crashes.
This is what companies such as InterCore (ICOR) have been working towards, and the market hasn’t overlooked this potential as ICOR stock has continued to appreciate since mid 2014 when they first announced their pilot test program in 5,000 trucks. Since the summer the stock has rising steadily as the company begins its commercial roll-out, and ended the final trading session of 2014 up 26% to a price of $5.87 per share.
Rollback of Trucker Rest Requirements Could Prove Bullish for ICOR Stock
(NEW YORK)—The recently passed US spending bill was a provision to rolled back current rest requirements allowing for longer hours on the road for trucker, and less rest between driving hauls, which may in turn put a new focus on driver alertness technologies.
As Congress rushed to pass a new omnibus spending bill to keep the government running for next fiscal year, one of the provisions baked into the bill was to roll back trucker rest requirements, thus allowing truckers to driver longer hours in between rest required periods.
In a letter sent to Senate and House appropriations committees before the bills approval, U.S. Transportation Secretary Anthony Foxx stated, “The evidence clearly shows that truck drivers are better rested and more alert after two nights of sleep than one night, and that unending 80-hour work weeks lead to driver fatigue and compromise highway safety.”
Truck crashes caused 3,912 deaths in 2012, and the fatal-crash rate increased each year from 2009 through 2012, reversing a five-year trend.
These regulatory roll-backs come on the heels of the Metro North train derailment in New York City, and the June accident involving Walmart truck on the New Jersey Turnpike, which critically injured actor and comedian Tracy Morgan, and killed fellow comedian James McNair, both shown to be caused by driver and operator sleep fatigue.
As these new rules come into effect, and news of crashes due to trucker sleep fatigue continue to hit the headlines, driver alertness detection technology companies may garner increased interest, such as with InterCore, Inc. (OTC:ICOR)
InterCore is currently focused on the commercialization and deployment of their DADS(TM) proprietary alertness detection technology, which is a real-time monitoring and warning system that can assist in preventing accidents caused by driver fatigue, lack of alertness, or distractions.
In early December 2014, the Company announced that they had launched their driver alertness product, which was available for download at http://dads.srgint.com. This comes in conjunction with their announcement in September that the first of two driver simulator tests of its alertness detection technology had been completed by an independent European transportation firm on behalf of a major multinational corporate client, and is currently deployed in a commercial demonstration program of 5,000 trucks insured by a major insurance carrier.
Insurer Mandates
A bullish aspect for this technology may be the push by insurers to implement such technology in a carriers fleet, or face higher insurance premiums due to risk of higher liabilities from potential crashes.
This is what companies such as InterCore (ICOR) have been working towards, and the market hasn’t overlooked this potential as ICOR stock has continued to appreciate since mid 2014 when they first announced their pilot test program in 5,000 trucks. Since the summer the stock has rising steadily as the company begins its commercial roll-out, and ended the final trading session of 2014 up 26% to a price of $5.87 per share.
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