J.B. Hunt Transport Inducts 2,383 Drivers Into ``$50K Club''.Business Editors LOWELL, Ark.--(BUSINESS WIRE)--Feb. 21, 2001 J.B. Hunt Transport Services The collective functions of layers 1 through 4 of the OSI model. , Inc. (Nasdaq:JBHT JBHT J.B. Hunt Transport Services (stock symbol) ) announced today that 2,383 van, dedicated contract services and intermodal drivers will be inducted into the "$50K Club" for 2000, an increase of approximately 10 percent from last year. The Club, designed to recognize drivers whose total compensation exceeds $50,000 dollars annually, inducted 2,172 drivers in 1999 and 1,930 drivers in 1998. The top pay for a J.B. Hunt driver reached just over $87,000. "We're proud to attract and retain some of the most experienced drivers in the industry," said J.B. Hunt President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Kirk Thompson. "Their commitments to customer service and safety are second to none, and their incomes reflect that excellence." Thanks to a bold driver management program that involved a 33% pay increase in 1997, J.B. Hunt has increased the supply of new applicants and decreased its turnover, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bennie Ray, vice president, corporate driver personnel. Each professional driver also has the opportunity to increase their income with the company's unique incentive programs, he added. J.B. Hunt has experienced significant cost-savings since the new program was put into place. Accident frequency has fallen 48 percent since the pay package was implemented four years ago, according to Jerry Walton, executive vice president and chief financial officer. Workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. claims have also dropped by nearly 50 percent. Since its creation in 1995, the "$50K Club" has recognized nearly 6,300 drivers. The number of drivers reaching this plateau has increased more than 600% during this time. J.B. Hunt Transport Services, Inc. is the largest publicly held truckload transportation company in North America with annual revenues of more than $2 billion. The company operates more than 10,000 trucks and approximately 40,000 trailers and containers. J.B. Hunt is focused on creating supply chain value through a variety of engineered, optimal solutions that include truckload and intermodal transportation services, dedicated fleet management, electronic commerce and logistics management. The company's stock is traded on NASDAQ under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors JBHT and is a component of the Dow Jones Transportation Average The Dow Jones Transportation Average (also called the "Dow Jones Transports;" DJTA) is the oldest U.S. stock market index. Components Today, the index consists of the following 20 companies (weighted to adjust for stock splits and other factors): |
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