1 00:00:07,560 --> 00:00:10,440 Speaker 1: Hi everyone, this is Lee Clascow and we're Talking Transports. 2 00:00:10,520 --> 00:00:13,800 Speaker 1: Welcome to Bloomberg Intelligence Talking Transports podcast. I'm your host, 3 00:00:13,960 --> 00:00:18,040 Speaker 1: Lee Clascow, senior freight transportation logistics analysts at Bloomberg Intelligence, 4 00:00:18,280 --> 00:00:21,040 Speaker 1: Bloomberg's in house research arm of almost five hundred analysts 5 00:00:21,079 --> 00:00:24,560 Speaker 1: and strategists around the world. A quick public service announcement 6 00:00:24,600 --> 00:00:27,920 Speaker 1: before we dive in. Your support is instrumental to keep 7 00:00:27,920 --> 00:00:31,440 Speaker 1: bringing great guests and conversations to you, our listeners, and 8 00:00:31,480 --> 00:00:34,600 Speaker 1: we need your support, so please, if you enjoy this podcast, 9 00:00:34,720 --> 00:00:37,319 Speaker 1: share it, like it and leave a comment. Also, if 10 00:00:37,320 --> 00:00:40,520 Speaker 1: you've got ideas, feedback, or just want to talk transports, 11 00:00:40,680 --> 00:00:42,760 Speaker 1: I'm always happy to connect. You can find me on 12 00:00:42,920 --> 00:00:47,560 Speaker 1: the Bloomberg terminal, LinkedIn, or on x at Logistics. Lee. 13 00:00:47,920 --> 00:00:51,000 Speaker 1: I'm very excited to have back on the podcast. Judy 14 00:00:51,040 --> 00:00:54,200 Speaker 1: McReynolds the Chairman and Chief executive Officer of ARC Best. 15 00:00:54,520 --> 00:00:57,720 Speaker 1: Judy has over thirty years of experience in the transportation 16 00:00:57,880 --> 00:01:01,160 Speaker 1: logistics industry, including twenty eight years said ARC Best. In 17 00:01:01,240 --> 00:01:04,000 Speaker 1: twenty ten, she was named ARC Best President and CEO, 18 00:01:04,360 --> 00:01:06,800 Speaker 1: and in twenty sixteen she was elected to Chairman of 19 00:01:06,840 --> 00:01:10,440 Speaker 1: the Board of ARC Best. Corporation. Most recently, in August 20 00:01:10,480 --> 00:01:13,840 Speaker 1: twenty twenty four, she transitioned to ARC Best Chairman and CEO, 21 00:01:14,160 --> 00:01:17,319 Speaker 1: overseeing the company's long term strategy, including a drive toward 22 00:01:17,440 --> 00:01:21,600 Speaker 1: innovative solutions. She sits on several boards outside of the company, 23 00:01:21,640 --> 00:01:25,680 Speaker 1: including OGE Energy, First Bank Corp. And First National Bank. 24 00:01:25,959 --> 00:01:28,840 Speaker 1: She's a member of Wall Street Journal CEO Council and 25 00:01:28,959 --> 00:01:33,600 Speaker 1: sits on American Trucking Association's Board and Executive Committee, after 26 00:01:33,880 --> 00:01:37,440 Speaker 1: serving as chair for eight years. She recently retired from 27 00:01:37,480 --> 00:01:42,280 Speaker 1: the American Transportation Research Institute. Welcome back to Talking Transports, Judy. 28 00:01:42,520 --> 00:01:45,680 Speaker 2: Thank you. It's great to be back with you. I 29 00:01:45,720 --> 00:01:47,880 Speaker 2: was thinking, we've known each other a very long time. 30 00:01:48,000 --> 00:01:50,440 Speaker 2: I was trying to think about the number of years, 31 00:01:50,560 --> 00:01:54,440 Speaker 2: but it has to be somewhere in the twenty plus. 32 00:01:55,040 --> 00:01:57,960 Speaker 1: I think it's around twenty one years. So yeah, it's 33 00:01:57,680 --> 00:02:01,960 Speaker 1: been a long time, and I've always treasured your insights 34 00:02:02,040 --> 00:02:05,480 Speaker 1: because you know, you work for a great company in 35 00:02:05,520 --> 00:02:08,200 Speaker 1: the LTL space. Can you tell a little about our 36 00:02:08,320 --> 00:02:09,760 Speaker 1: best for the folks listening to it. 37 00:02:10,200 --> 00:02:15,080 Speaker 2: Yes, I love to our company our best. We are 38 00:02:15,120 --> 00:02:21,280 Speaker 2: a multi billion dollar integrated logistics company delivering smart scalable 39 00:02:21,360 --> 00:02:25,200 Speaker 2: solutions that are tailored to our customers supply chain needs. 40 00:02:26,040 --> 00:02:30,120 Speaker 2: Founded over one hundred years ago as a local freighthuler, 41 00:02:30,520 --> 00:02:35,160 Speaker 2: we've grown into a global logistics leader with fourteen thousand 42 00:02:35,200 --> 00:02:41,320 Speaker 2: employees and two hundred and fifty locations. Our technology expertise 43 00:02:41,480 --> 00:02:45,560 Speaker 2: and full suite of shipping and logistics services support businesses 44 00:02:45,560 --> 00:02:49,720 Speaker 2: of all sizes, from small operations to some of the 45 00:02:49,840 --> 00:02:54,720 Speaker 2: nation's largest enterprises. And we help our customers overcome logistics 46 00:02:54,800 --> 00:03:00,000 Speaker 2: challenges with solutions that we provide them that are flexible, reliable, 47 00:03:00,800 --> 00:03:04,959 Speaker 2: and built around their goals. And you know, we've been 48 00:03:05,960 --> 00:03:08,640 Speaker 2: in business, as we said, for over one hundred years. 49 00:03:09,000 --> 00:03:12,440 Speaker 2: We continue to offer ground, air, and ocean transportation through 50 00:03:12,440 --> 00:03:17,120 Speaker 2: a broad network of capacity providers, and that includes our 51 00:03:17,280 --> 00:03:22,400 Speaker 2: LTL carrier AVF, freight truckload service through MOLO, and an 52 00:03:22,400 --> 00:03:26,720 Speaker 2: expedite fleet with Panther Premium Logistics. And we collaborate with 53 00:03:26,800 --> 00:03:31,400 Speaker 2: our customers through our managed solutions that and in that 54 00:03:31,480 --> 00:03:37,040 Speaker 2: we develop strategies that enhance operational efficiency, reduce costs, and 55 00:03:37,120 --> 00:03:41,920 Speaker 2: deliver deeper insights into their supply chains. And supporting all 56 00:03:41,960 --> 00:03:45,160 Speaker 2: of this is very important. Our our Best Technologies team 57 00:03:45,320 --> 00:03:51,960 Speaker 2: are dedicated innovation group that delivers custom built solutions, advanced analytics, 58 00:03:52,200 --> 00:03:57,720 Speaker 2: and cutting edge technologies to optimize supply chains and empower 59 00:03:57,840 --> 00:04:02,520 Speaker 2: our customers. So we have really evolved into what I 60 00:04:02,560 --> 00:04:07,520 Speaker 2: consider to be a neat and appropriate company for the 61 00:04:07,560 --> 00:04:09,200 Speaker 2: marketplace that we live in today. 62 00:04:10,400 --> 00:04:13,200 Speaker 1: Great, and also it's worth noting our best is a 63 00:04:13,200 --> 00:04:16,880 Speaker 1: publicly traded company. It's ticker arc B. It's got a 64 00:04:16,960 --> 00:04:20,720 Speaker 1: market cap around one point four billion billion dollars. So, 65 00:04:21,040 --> 00:04:22,640 Speaker 1: you know, one of the reasons why I wanted to 66 00:04:22,640 --> 00:04:26,600 Speaker 1: have you on a you know, you're you're not quite retiring, 67 00:04:26,640 --> 00:04:29,440 Speaker 1: but you're close to retiring, so I wanted to talk 68 00:04:29,480 --> 00:04:32,919 Speaker 1: to you before before you go. Uh and and the 69 00:04:32,960 --> 00:04:35,520 Speaker 1: reason is because you know, you've had such a long 70 00:04:35,640 --> 00:04:37,920 Speaker 1: career in the freight markets and you've seen a lot 71 00:04:37,960 --> 00:04:38,520 Speaker 1: of cycles. 72 00:04:38,800 --> 00:04:40,120 Speaker 2: Can can you talk to us. 73 00:04:40,000 --> 00:04:42,320 Speaker 1: About, you know, what is the state of the North 74 00:04:42,360 --> 00:04:45,400 Speaker 1: America freight market now from your perspective and kind of 75 00:04:45,440 --> 00:04:48,279 Speaker 1: where you think we're heading as we h heading into 76 00:04:48,600 --> 00:04:49,479 Speaker 1: twenty twenty six. 77 00:04:49,760 --> 00:04:54,200 Speaker 2: Well, yes, well the freight market is still pretty soft. 78 00:04:54,880 --> 00:05:00,320 Speaker 2: We see that reflected in manufacturing, retail, and housing. There's 79 00:05:00,320 --> 00:05:04,919 Speaker 2: still excess capacity in our marketplace. I know there's been 80 00:05:04,960 --> 00:05:07,880 Speaker 2: a lot in the headlines about that, but the other 81 00:05:07,960 --> 00:05:12,039 Speaker 2: thing to keep in mind is just how much uncertainty 82 00:05:12,080 --> 00:05:16,640 Speaker 2: there's been this year for our customers. Comes from the 83 00:05:16,839 --> 00:05:24,960 Speaker 2: terror related activity, uncertainty about insurtrates, demand uncertainty for their 84 00:05:25,040 --> 00:05:28,320 Speaker 2: own business, and then even the recent challenges of the 85 00:05:28,320 --> 00:05:32,839 Speaker 2: government shut down. These are real challenges that take time 86 00:05:33,080 --> 00:05:35,400 Speaker 2: to solve and I think, you know, trying to make 87 00:05:35,480 --> 00:05:38,920 Speaker 2: decisions with all that and the backdrop is really difficult 88 00:05:39,040 --> 00:05:43,440 Speaker 2: for our customers. But I'm proud of how we come 89 00:05:43,480 --> 00:05:47,320 Speaker 2: to market and how we responded. We've actually grown our 90 00:05:47,320 --> 00:05:51,520 Speaker 2: customer base during this soft environment because of what we offer. 91 00:05:52,279 --> 00:05:56,080 Speaker 2: And it's really really important to be a strategic partner 92 00:05:56,240 --> 00:05:59,920 Speaker 2: for these accounts because you need to get into a 93 00:06:00,080 --> 00:06:03,880 Speaker 2: trusted relationship that enables you to see the issues with 94 00:06:04,000 --> 00:06:08,479 Speaker 2: them and and determine best what can better build a 95 00:06:08,520 --> 00:06:13,080 Speaker 2: supply chain for them. And you know, customers appreciate that 96 00:06:13,120 --> 00:06:16,560 Speaker 2: they look for who they trust and in an environment. 97 00:06:16,240 --> 00:06:19,280 Speaker 1: Like this, and when you say you're increasing your customer base, 98 00:06:19,320 --> 00:06:22,279 Speaker 1: are you talking about you you're getting you're winning more 99 00:06:22,800 --> 00:06:26,320 Speaker 1: of your customer's wallets, or you're getting you're you're kind 100 00:06:26,320 --> 00:06:28,520 Speaker 1: of bringing on more customers on board. 101 00:06:28,279 --> 00:06:32,000 Speaker 2: And okay, I'd say both, yeah, I mean, and both 102 00:06:32,040 --> 00:06:35,159 Speaker 2: are important, uh, and you know, and that at the 103 00:06:35,200 --> 00:06:39,320 Speaker 2: same time, I'll say, some of the challenges come from 104 00:06:39,520 --> 00:06:43,920 Speaker 2: you know, our customer base is high percentage of it 105 00:06:43,960 --> 00:06:49,279 Speaker 2: relates to manufacturing, and when you see weakness there, you 106 00:06:49,320 --> 00:06:54,159 Speaker 2: know that actually, uh pulls back on shipment levels for us. 107 00:06:54,760 --> 00:06:57,120 Speaker 2: And so you have that going on. At the same time, 108 00:06:57,160 --> 00:07:02,400 Speaker 2: you're trying to expand other relationship ships and grow new relationships, 109 00:07:02,800 --> 00:07:07,040 Speaker 2: and so it's it's navigating all of that is continuing 110 00:07:07,160 --> 00:07:12,640 Speaker 2: to be something that takes a lot of attention and visibility. 111 00:07:13,560 --> 00:07:15,280 Speaker 1: You know, one of your one of your peers is 112 00:07:15,560 --> 00:07:19,160 Speaker 1: focused on like more local accounts, smaller to mid sized shippers. 113 00:07:19,200 --> 00:07:20,880 Speaker 1: Is that Are those the kind of shippers that you 114 00:07:20,880 --> 00:07:23,280 Speaker 1: that you guys are focusing on as well to bring 115 00:07:23,320 --> 00:07:24,040 Speaker 1: on board it on. 116 00:07:24,040 --> 00:07:27,400 Speaker 2: Our best I would say yes, but that's always been 117 00:07:27,400 --> 00:07:29,960 Speaker 2: the case. You know, our customer base is made up 118 00:07:30,040 --> 00:07:33,040 Speaker 2: of you know, some of the smallest companies to some 119 00:07:33,120 --> 00:07:35,760 Speaker 2: of the largest, and I think the way we think 120 00:07:35,800 --> 00:07:39,760 Speaker 2: about it is we have sales and customer service efforts 121 00:07:39,800 --> 00:07:43,720 Speaker 2: focused on all of the above, but you do have 122 00:07:43,840 --> 00:07:48,080 Speaker 2: to on the small and uh mid market businesses. You 123 00:07:48,280 --> 00:07:50,679 Speaker 2: have to be in front of those customers. The face 124 00:07:50,720 --> 00:07:56,120 Speaker 2: to face relationships have been an emphasis for us, and 125 00:07:56,280 --> 00:08:00,720 Speaker 2: it's been interesting, you know, post pandemic. I think there 126 00:08:00,760 --> 00:08:03,640 Speaker 2: was a period of time where everyone really was much 127 00:08:03,680 --> 00:08:06,960 Speaker 2: more comfortable with virtual settings and meetings and that sort 128 00:08:06,960 --> 00:08:10,960 Speaker 2: of thing, and we've seen a renewed energy around getting 129 00:08:11,000 --> 00:08:13,680 Speaker 2: face to face with our customers. That's really paying off. 130 00:08:14,640 --> 00:08:19,000 Speaker 1: Yeah, and you know you mentioned the soft soft freight 131 00:08:19,120 --> 00:08:22,960 Speaker 1: environment and slack capacity. Were you talking specifically to the 132 00:08:23,000 --> 00:08:26,520 Speaker 1: truckload market or the LTL market or both? What you 133 00:08:26,680 --> 00:08:27,680 Speaker 1: said that? What did you mean, by the. 134 00:08:27,680 --> 00:08:31,360 Speaker 2: Way, Well, my comment really relates to the truckload market, 135 00:08:31,520 --> 00:08:34,520 Speaker 2: but you and I both know that ends up affecting 136 00:08:34,600 --> 00:08:37,200 Speaker 2: what goes on in the LTL market. Certainly does, and 137 00:08:37,240 --> 00:08:40,360 Speaker 2: so I think it's it's maybe second order in the 138 00:08:40,520 --> 00:08:44,160 Speaker 2: LTL market, but it is excess capacity, I think from 139 00:08:44,200 --> 00:08:46,079 Speaker 2: the truckload side, right. 140 00:08:46,080 --> 00:08:48,040 Speaker 1: And do you I guess at our best, I guess 141 00:08:48,080 --> 00:08:50,280 Speaker 1: the one benefit would be you're going into the market 142 00:08:50,360 --> 00:08:52,400 Speaker 1: for line haul and the spat market. Do you guys 143 00:08:52,440 --> 00:08:55,000 Speaker 1: spend much time doing that or is most your line 144 00:08:55,000 --> 00:08:57,920 Speaker 1: hall your company drivers that you're leveraging. 145 00:08:58,559 --> 00:09:03,880 Speaker 2: Oh, vast majorities company drivers. We do use, you know, 146 00:09:03,920 --> 00:09:08,719 Speaker 2: purchase transportation carriers, but it's only a small percentage, you know, 147 00:09:08,840 --> 00:09:13,040 Speaker 2: low single digit percentage, and it's just for balance, right 148 00:09:13,240 --> 00:09:14,959 Speaker 2: that we do that. 149 00:09:14,600 --> 00:09:18,480 Speaker 1: That makes sense. So in addition to these, I guess 150 00:09:18,520 --> 00:09:21,320 Speaker 1: more local, smaller to mid sized customers. Where are you 151 00:09:21,400 --> 00:09:25,360 Speaker 1: seeing some opportunities in these challenging times? Are there different 152 00:09:25,480 --> 00:09:28,680 Speaker 1: different markets that you're going after outside your traditional asset 153 00:09:28,760 --> 00:09:29,719 Speaker 1: based companies. 154 00:09:30,920 --> 00:09:33,520 Speaker 2: No, I wouldn't say that you know what we're seeing 155 00:09:34,559 --> 00:09:37,520 Speaker 2: as as opportunities that come from this, but you know, 156 00:09:37,600 --> 00:09:40,040 Speaker 2: the challenges are there kind of across the board, and 157 00:09:40,080 --> 00:09:44,800 Speaker 2: it relates to rising costs for the shipper and the 158 00:09:44,880 --> 00:09:48,600 Speaker 2: need to drive efficiencies across really every aspect of their 159 00:09:48,600 --> 00:09:52,600 Speaker 2: supply chains. And again just to comment, you know, the 160 00:09:52,640 --> 00:09:55,640 Speaker 2: flexibility is what's most important for them. Sometimes they don't 161 00:09:55,679 --> 00:09:59,800 Speaker 2: even know exactly what would be best and to you know, 162 00:10:00,080 --> 00:10:03,800 Speaker 2: you understand the issues and you're presenting the options. But 163 00:10:04,120 --> 00:10:08,200 Speaker 2: you know what's interesting is even though there are challenges customers, 164 00:10:08,240 --> 00:10:10,520 Speaker 2: freight still has to keep moving. And we've seen that 165 00:10:10,720 --> 00:10:15,679 Speaker 2: over our hundred years of experience. And again, these continual 166 00:10:15,760 --> 00:10:22,400 Speaker 2: disruptions are unusual, but it just makes the point even finer. 167 00:10:22,800 --> 00:10:26,960 Speaker 2: You know that you need to have the capability to 168 00:10:27,000 --> 00:10:29,959 Speaker 2: see what the options and opportunities are and bring that together. 169 00:10:30,520 --> 00:10:34,640 Speaker 2: So you know, what we're doing, uh, and we we 170 00:10:34,840 --> 00:10:37,240 Speaker 2: help our customers do is just focus on what we 171 00:10:37,360 --> 00:10:41,720 Speaker 2: can control. It is really really important in our business, 172 00:10:42,240 --> 00:10:46,079 Speaker 2: you know, to to manage costs, look for technology opportunities, 173 00:10:46,160 --> 00:10:50,920 Speaker 2: you know, to optimize your your own situation, and again 174 00:10:51,280 --> 00:10:54,320 Speaker 2: do that same thing for customers. We also find it 175 00:10:54,360 --> 00:10:57,960 Speaker 2: really valuable to lean on our history of the quality 176 00:10:58,000 --> 00:11:00,920 Speaker 2: process that we've had at the company for over forty years. 177 00:11:01,480 --> 00:11:04,800 Speaker 2: If you you know, it's the motto for that is 178 00:11:04,840 --> 00:11:08,120 Speaker 2: do it right the first time. But it has stood 179 00:11:08,160 --> 00:11:11,840 Speaker 2: the test of time. And so when you're facing a challenge, 180 00:11:11,880 --> 00:11:15,000 Speaker 2: whether it's in your business or the customer has one, 181 00:11:15,280 --> 00:11:17,760 Speaker 2: you know, getting the group together that's closest to the 182 00:11:17,800 --> 00:11:20,800 Speaker 2: problem and being able to solve that problem is a 183 00:11:20,840 --> 00:11:25,480 Speaker 2: real opportunity when things are are most challenged. And again, 184 00:11:25,559 --> 00:11:28,440 Speaker 2: you can't do some of these things without having entrusted 185 00:11:29,440 --> 00:11:33,280 Speaker 2: workforce and then relationships that you build. But you know, 186 00:11:33,600 --> 00:11:36,960 Speaker 2: it's pretty basic what we see as the opportunities whenever 187 00:11:37,000 --> 00:11:41,439 Speaker 2: you're facing some of these challenges that you know, cause 188 00:11:41,559 --> 00:11:43,480 Speaker 2: daily disruption for people. 189 00:11:43,679 --> 00:11:46,440 Speaker 1: Right, and you know, you kind of touched upon like 190 00:11:46,520 --> 00:11:49,840 Speaker 1: how you guys are trying to grow organically? How are 191 00:11:49,880 --> 00:11:53,439 Speaker 1: do you guys approach mergers? Are there certain obviously you 192 00:11:53,440 --> 00:11:55,040 Speaker 1: know I can tell me who you're gonna buy, but like, 193 00:11:55,120 --> 00:11:58,120 Speaker 1: are there certain sub segments of the market that are 194 00:11:58,160 --> 00:12:02,520 Speaker 1: attracted to our best and obviously to get into those markets, 195 00:12:02,640 --> 00:12:04,240 Speaker 1: maybe an acquisition would make sense. 196 00:12:05,080 --> 00:12:09,840 Speaker 2: Well, we always lookally at the solutions that customers need. 197 00:12:10,080 --> 00:12:14,120 Speaker 2: That's what we did all those years ago, and you 198 00:12:14,160 --> 00:12:17,760 Speaker 2: know we have a good cross section of that. Would 199 00:12:17,840 --> 00:12:20,920 Speaker 2: we like to have more scale in some of those yes, 200 00:12:22,040 --> 00:12:24,560 Speaker 2: And the reason why would be that just it would 201 00:12:24,640 --> 00:12:27,960 Speaker 2: enable us to better serve you know, our customers. But 202 00:12:28,080 --> 00:12:32,680 Speaker 2: we see our set of services as comprehensive. But we 203 00:12:32,800 --> 00:12:35,360 Speaker 2: keep our ear to the ground on what's coming to 204 00:12:35,480 --> 00:12:39,840 Speaker 2: market in terms of you know, acquisition targets. And we 205 00:12:40,000 --> 00:12:42,640 Speaker 2: do that because we might be able to achieve that 206 00:12:42,760 --> 00:12:46,840 Speaker 2: scale quicker if we were to make an acquisition. But 207 00:12:46,920 --> 00:12:51,360 Speaker 2: it is interesting how you know, we're we're not as 208 00:12:51,440 --> 00:12:56,760 Speaker 2: much acquiring unique businesses as we are acquiring businesses to 209 00:12:56,840 --> 00:12:59,760 Speaker 2: kind of plug them into what we're offering to customers. 210 00:12:59,760 --> 00:13:02,000 Speaker 2: I think think a great example of that is our 211 00:13:02,000 --> 00:13:06,320 Speaker 2: Molo acquisition back in November twenty twenty one. We saw 212 00:13:06,360 --> 00:13:11,240 Speaker 2: the need to have better, uh more responsive solutions on 213 00:13:11,280 --> 00:13:16,480 Speaker 2: the truckload side. Molo was a four year old company 214 00:13:16,600 --> 00:13:20,679 Speaker 2: when we bought them, and they had the same spirit 215 00:13:20,920 --> 00:13:24,880 Speaker 2: of service excellence that we do, which was really really 216 00:13:24,920 --> 00:13:29,480 Speaker 2: important and a great knowledgeable team. But what we what 217 00:13:29,559 --> 00:13:32,360 Speaker 2: we do, you know, with the truckload service that we 218 00:13:32,400 --> 00:13:36,280 Speaker 2: offer is as we want to make it available, you know, 219 00:13:36,360 --> 00:13:41,000 Speaker 2: to this customer base that oftentimes is using four solutions, 220 00:13:42,040 --> 00:13:44,760 Speaker 2: and so it's got to work in an integrated way 221 00:13:44,760 --> 00:13:46,760 Speaker 2: with the rest of what we do. So we do 222 00:13:46,880 --> 00:13:51,840 Speaker 2: have unique truckload customers, but oftentimes, you know, we're working 223 00:13:51,880 --> 00:13:54,559 Speaker 2: across the solutions that we have and we have to 224 00:13:54,600 --> 00:13:56,880 Speaker 2: be able to do that seamlessly to be effective. 225 00:13:58,040 --> 00:14:01,280 Speaker 1: You mentioned technology a couple times. Can you talk about 226 00:14:01,280 --> 00:14:05,199 Speaker 1: our best technology strategies? Where are you investing what what 227 00:14:05,520 --> 00:14:08,120 Speaker 1: are you most excited about in terms of how it 228 00:14:08,160 --> 00:14:11,880 Speaker 1: can benefit your company or your customers. 229 00:14:11,920 --> 00:14:14,200 Speaker 2: Well, you know, we've been doing a lot on the 230 00:14:14,280 --> 00:14:19,720 Speaker 2: technology front. You know, the the interesting thing is, you know, 231 00:14:19,840 --> 00:14:23,200 Speaker 2: just the opportunities for efficiency in this business that we've 232 00:14:23,240 --> 00:14:26,040 Speaker 2: been in for a very long time. And one of 233 00:14:26,040 --> 00:14:29,680 Speaker 2: the most exciting I think is city route optimization. You 234 00:14:29,720 --> 00:14:35,040 Speaker 2: know that we deployed you know UH a few years 235 00:14:35,080 --> 00:14:39,400 Speaker 2: ago but continues to pay off. And you know, we 236 00:14:39,880 --> 00:14:46,040 Speaker 2: used algorithmic AI combined with the knowledge that our people 237 00:14:46,160 --> 00:14:49,160 Speaker 2: on the ground have. You know, dispatchers are very knowledgeable 238 00:14:49,160 --> 00:14:54,520 Speaker 2: about customer tendencies and trends, and we combine that together 239 00:14:55,120 --> 00:14:59,720 Speaker 2: to put in place at kind of an automated approach 240 00:15:00,080 --> 00:15:04,120 Speaker 2: to route optimization, but it certainly is modified when it 241 00:15:04,160 --> 00:15:07,560 Speaker 2: needs to be, you know, by that local knowledge, and 242 00:15:07,840 --> 00:15:11,480 Speaker 2: it's paid off. I think that the current number there 243 00:15:11,600 --> 00:15:14,440 Speaker 2: is twelve to thirteen million dollars a year and growing 244 00:15:14,560 --> 00:15:18,120 Speaker 2: with new phases being added to that, and it's been 245 00:15:18,160 --> 00:15:21,280 Speaker 2: pretty exciting. But you know, I think that's one of 246 00:15:21,280 --> 00:15:24,480 Speaker 2: the things that's so good about what we do is 247 00:15:24,520 --> 00:15:28,760 Speaker 2: that we can bring together the technology side of things 248 00:15:28,800 --> 00:15:32,000 Speaker 2: with very knowledgeable people. By the way, we have about 249 00:15:32,040 --> 00:15:37,280 Speaker 2: four hundred people in our technology team that do a 250 00:15:37,320 --> 00:15:42,960 Speaker 2: combination of you know, development kind of in an organic way, 251 00:15:43,000 --> 00:15:47,840 Speaker 2: combined with great purchase solutions to really bring that to 252 00:15:47,920 --> 00:15:50,880 Speaker 2: bear on behalf of our customers. We're actually rolling out 253 00:15:51,360 --> 00:15:56,720 Speaker 2: a dock operation system across the ABF network that creates 254 00:15:56,840 --> 00:16:03,080 Speaker 2: visibility for the people that are managing that operation, whether 255 00:16:03,160 --> 00:16:06,600 Speaker 2: it's uh, you know, the the work that an individual 256 00:16:07,640 --> 00:16:12,280 Speaker 2: is doing in their job, or if it's how well 257 00:16:12,400 --> 00:16:15,120 Speaker 2: a trailer is loaded. You know, some of those things 258 00:16:15,200 --> 00:16:18,239 Speaker 2: again sound very basic, but if you can have visibility 259 00:16:18,440 --> 00:16:21,360 Speaker 2: and automate, you know, some of the things that are 260 00:16:21,400 --> 00:16:25,840 Speaker 2: needed to best understand whether you're doing your business with excellence, 261 00:16:26,880 --> 00:16:28,920 Speaker 2: you're going to be better off. One of the other 262 00:16:28,960 --> 00:16:33,320 Speaker 2: things that we've done recently is deploy a compliance UH 263 00:16:33,400 --> 00:16:36,800 Speaker 2: team and you know, we uh we really have some 264 00:16:36,960 --> 00:16:42,440 Speaker 2: knowledgeable people in our business that can go in and 265 00:16:42,560 --> 00:16:46,120 Speaker 2: look where, for instance, a new operating system has been 266 00:16:46,160 --> 00:16:50,440 Speaker 2: deployed or route optimization has been deployed and make sure 267 00:16:50,720 --> 00:16:55,680 Speaker 2: that that that that's being done well and that jobs 268 00:16:55,720 --> 00:16:59,040 Speaker 2: are being done safely. And we've seen this team this 269 00:16:59,320 --> 00:17:06,320 Speaker 2: year produce twenty million dollars in savings from existing operations 270 00:17:06,600 --> 00:17:09,040 Speaker 2: and they haven't been to all of our locations yet, 271 00:17:09,200 --> 00:17:13,360 Speaker 2: so you know, in addition to the bells and whistles 272 00:17:13,400 --> 00:17:16,880 Speaker 2: attached to some new technology, we understand that you need 273 00:17:16,920 --> 00:17:20,080 Speaker 2: to go in and make sure that that work that's 274 00:17:20,119 --> 00:17:23,040 Speaker 2: being done really adheres to the standards that you want 275 00:17:23,200 --> 00:17:26,560 Speaker 2: and the technology is being used to the best it can. 276 00:17:26,800 --> 00:17:29,320 Speaker 2: So I mean, I love all of that. And it's 277 00:17:29,480 --> 00:17:32,440 Speaker 2: you know again that the decades are even one hundred 278 00:17:32,520 --> 00:17:34,439 Speaker 2: years of being in business that help you do some 279 00:17:34,480 --> 00:17:35,199 Speaker 2: of those things. 280 00:17:35,400 --> 00:17:38,200 Speaker 1: Right now, if we talk about AI a little longer, 281 00:17:38,240 --> 00:17:40,760 Speaker 1: you might get another turn on your multiple So let's 282 00:17:40,840 --> 00:17:41,960 Speaker 1: keep on talking. 283 00:17:41,640 --> 00:17:45,560 Speaker 2: About Yeah, that's you're right. You're right. 284 00:17:45,840 --> 00:17:49,520 Speaker 1: So are you using any internal or maybe even off 285 00:17:49,560 --> 00:17:54,439 Speaker 1: the shelf AI or machine learning programs to help you 286 00:17:54,480 --> 00:17:55,080 Speaker 1: with pricing? 287 00:17:55,960 --> 00:17:58,800 Speaker 2: We do, you know, we do use that. You know. 288 00:17:58,880 --> 00:18:02,720 Speaker 2: A great example would be when we have customer calls. 289 00:18:03,880 --> 00:18:07,480 Speaker 2: You know, we have AI listening to the outcome of 290 00:18:07,520 --> 00:18:10,679 Speaker 2: those calls and helping inform us about things we needed 291 00:18:10,720 --> 00:18:13,560 Speaker 2: to know. We call it call audit to make sure 292 00:18:13,600 --> 00:18:16,520 Speaker 2: that our people are doing their jobs well and that 293 00:18:16,560 --> 00:18:21,720 Speaker 2: we're addressing customer concerns. That's an example, you know, we have, 294 00:18:23,119 --> 00:18:26,840 Speaker 2: you know, on the the truckload side, some you know, 295 00:18:26,880 --> 00:18:30,840 Speaker 2: technologies and AI deployed to help us make sure that 296 00:18:30,960 --> 00:18:33,720 Speaker 2: the calls that are coming in to take the loads 297 00:18:34,160 --> 00:18:39,080 Speaker 2: are qualified carriers and that makes sure that again our 298 00:18:39,160 --> 00:18:43,760 Speaker 2: people are working on the most important carriers and loads 299 00:18:43,800 --> 00:18:47,760 Speaker 2: that they can. So it's really in many different places. 300 00:18:48,119 --> 00:18:51,880 Speaker 2: Some areas are smaller than others, but some are very 301 00:18:51,960 --> 00:18:54,600 Speaker 2: impactful as as I mentioned earlier. 302 00:18:55,280 --> 00:18:59,000 Speaker 1: And besides, you know the route optimization that you mentioned earlier. 303 00:18:59,160 --> 00:19:02,400 Speaker 1: Is there anything from a technology standpoint that's going into 304 00:19:02,400 --> 00:19:05,680 Speaker 1: the trucks that are helping your drivers be more efficient, 305 00:19:05,800 --> 00:19:09,520 Speaker 1: be safer. You know, if you could talk to any technologies, 306 00:19:09,560 --> 00:19:11,040 Speaker 1: it doesn't have to be a I just you know, 307 00:19:11,280 --> 00:19:13,959 Speaker 1: any technologies that you're using for trucks. 308 00:19:14,800 --> 00:19:19,240 Speaker 2: Well, we use we work with Sam Sarah for the 309 00:19:19,240 --> 00:19:21,959 Speaker 2: the e l D units that are in our vehicles, 310 00:19:23,119 --> 00:19:28,800 Speaker 2: and we also have you know, other safety elements that 311 00:19:28,840 --> 00:19:31,800 Speaker 2: we've we've deployed that and some of those that we're 312 00:19:31,840 --> 00:19:36,360 Speaker 2: testing for you know, our drivers to make sure that 313 00:19:36,359 --> 00:19:40,639 Speaker 2: that you know, we manage and monitor speeding incidents and 314 00:19:40,680 --> 00:19:44,159 Speaker 2: things like that. But you know, we are very knowledgeable 315 00:19:44,200 --> 00:19:47,280 Speaker 2: about what's going on in the vehicle. You know, with 316 00:19:47,400 --> 00:19:52,800 Speaker 2: an LTL network, you need to be very much focused 317 00:19:52,840 --> 00:19:55,600 Speaker 2: on the timing of things and and that sort of thing, 318 00:19:55,640 --> 00:19:59,560 Speaker 2: and so you know what's great is we have America's 319 00:19:59,640 --> 00:20:02,159 Speaker 2: road Tea Captains, which I think you've probably met at 320 00:20:02,640 --> 00:20:05,439 Speaker 2: some point in time. You know, we've got numerous of 321 00:20:05,480 --> 00:20:09,280 Speaker 2: those folks that are just excellent road drivers that you know, 322 00:20:09,400 --> 00:20:12,840 Speaker 2: give us input on the technologies that we deploy. They 323 00:20:12,920 --> 00:20:16,639 Speaker 2: understand the importance of you know, being efficient and safe 324 00:20:16,800 --> 00:20:22,760 Speaker 2: and how that can save you know, fuel and miles 325 00:20:23,160 --> 00:20:27,399 Speaker 2: and so we you know, we do value that and 326 00:20:27,720 --> 00:20:31,560 Speaker 2: our drivers value it as well. So you know, there's 327 00:20:31,640 --> 00:20:34,720 Speaker 2: there's many many things that we have going on there 328 00:20:35,600 --> 00:20:39,000 Speaker 2: and and that's very important work because of the dollars 329 00:20:39,000 --> 00:20:41,000 Speaker 2: that it can save a lot. 330 00:20:40,960 --> 00:20:43,679 Speaker 1: Of companies have been using technology to kind of fight fraud. 331 00:20:44,359 --> 00:20:48,360 Speaker 1: You know, fraud's a very huge problem in the trucking industry. 332 00:20:48,640 --> 00:20:50,879 Speaker 1: Is it is a bigger problem in LTL as is 333 00:20:50,920 --> 00:20:52,040 Speaker 1: in the truckload. 334 00:20:52,480 --> 00:20:56,159 Speaker 2: Well it can be. It's not as big probably because 335 00:20:56,200 --> 00:20:58,879 Speaker 2: of you know, the knowledge that you have of the 336 00:20:58,920 --> 00:21:01,600 Speaker 2: customers and the routine mean that you have the customers. 337 00:21:02,920 --> 00:21:06,879 Speaker 2: But you know, we we do have instances where you know, 338 00:21:07,000 --> 00:21:10,640 Speaker 2: we uh might we need to verify that a customer 339 00:21:10,720 --> 00:21:14,040 Speaker 2: is a legitimate customer, you know, and if you were 340 00:21:14,080 --> 00:21:17,600 Speaker 2: delivering uh freight, you want to be sure that it's 341 00:21:17,680 --> 00:21:21,159 Speaker 2: going to a real customer. So there are efforts that 342 00:21:21,200 --> 00:21:24,880 Speaker 2: we have with our safety team and security team and 343 00:21:25,040 --> 00:21:27,760 Speaker 2: using technology to do that. But I think on the 344 00:21:27,840 --> 00:21:30,280 Speaker 2: vetting of the carrier side, you know what comes to 345 00:21:30,280 --> 00:21:32,480 Speaker 2: mind when you say that is on the truckload side. 346 00:21:32,680 --> 00:21:37,960 Speaker 2: So we use various uh uh, different services to make 347 00:21:38,000 --> 00:21:42,760 Speaker 2: sure that we're using carriers that are real, that are 348 00:21:42,800 --> 00:21:46,000 Speaker 2: not fraudulent, and they will serve our customers well. 349 00:21:46,320 --> 00:21:48,280 Speaker 1: And just turning to demand right now, you know, we 350 00:21:48,280 --> 00:21:51,199 Speaker 1: were talking earlier about the freight demand and it's been soft. 351 00:21:51,800 --> 00:21:55,280 Speaker 1: Has this been the weakest that you've ever seen in 352 00:21:55,320 --> 00:21:58,639 Speaker 1: your career or or maybe maybe not the weakest, but 353 00:21:58,800 --> 00:22:01,880 Speaker 1: like certainly the duration of the weakness has been pretty long. 354 00:22:02,119 --> 00:22:03,800 Speaker 1: Could you just kind of benchmark it? 355 00:22:04,080 --> 00:22:06,639 Speaker 2: Yeah, I believe it is. I think we're in the 356 00:22:06,680 --> 00:22:13,560 Speaker 2: fourth year of a freight recession, which is unmatched. Now 357 00:22:13,960 --> 00:22:17,360 Speaker 2: when you look at some of the measures you can 358 00:22:17,680 --> 00:22:21,960 Speaker 2: compare you know, the volume of shipments available and that 359 00:22:22,040 --> 00:22:24,520 Speaker 2: sort of thing to nine maybe the low point in 360 00:22:24,560 --> 00:22:28,879 Speaker 2: the pandemic, that's pretty significant. But you know, when I 361 00:22:28,920 --> 00:22:32,200 Speaker 2: look at our company and the approach that we're using, 362 00:22:32,359 --> 00:22:36,960 Speaker 2: I'm very pleased with how the company has transformed because, 363 00:22:37,400 --> 00:22:42,320 Speaker 2: you know, having the solutions, particularly our managed solution that 364 00:22:42,440 --> 00:22:45,760 Speaker 2: is in place, it really helps us serve our customers well. 365 00:22:46,400 --> 00:22:49,920 Speaker 2: And as I mentioned earlier, we're actually growing in this environment, 366 00:22:50,040 --> 00:22:54,640 Speaker 2: which is not the norm. And you know, all those 367 00:22:54,720 --> 00:22:57,040 Speaker 2: years ago in two thousand and nine when we were 368 00:22:57,080 --> 00:22:59,960 Speaker 2: most challenged. When I first took my role in January ten, 369 00:23:00,000 --> 00:23:06,320 Speaker 2: twenty ten, the the solutions we provided and the capabilities 370 00:23:06,359 --> 00:23:09,399 Speaker 2: that we had were not as robust as they are today. 371 00:23:09,560 --> 00:23:12,360 Speaker 2: And so I'm really proud of how, you know, we 372 00:23:12,840 --> 00:23:16,680 Speaker 2: used the work that we did with customers to transform ourselves, 373 00:23:16,920 --> 00:23:19,880 Speaker 2: you know, into to a company that is unique, yes, 374 00:23:20,000 --> 00:23:23,720 Speaker 2: but it's more relevant even in the face of these 375 00:23:23,800 --> 00:23:24,800 Speaker 2: kinds of challenges. 376 00:23:25,480 --> 00:23:27,280 Speaker 1: Is there anything you and your team kind of look 377 00:23:27,400 --> 00:23:30,880 Speaker 1: for to try to find some green shoots and when 378 00:23:31,359 --> 00:23:33,760 Speaker 1: things will finally start to turn. Is there like an 379 00:23:33,800 --> 00:23:37,280 Speaker 1: index that you guys use or were indexes? 380 00:23:38,200 --> 00:23:40,840 Speaker 2: Well, I think the best one that I can can 381 00:23:41,080 --> 00:23:47,480 Speaker 2: point to is the ISM Manufacturing PMI index, because if 382 00:23:47,520 --> 00:23:51,359 Speaker 2: you look at our customer base, manufacturing and wholesale makes 383 00:23:51,440 --> 00:23:55,760 Speaker 2: up you know, forty plus percent of our business. And 384 00:23:55,920 --> 00:24:01,480 Speaker 2: what we've seen is that when that turns positive. And 385 00:24:01,560 --> 00:24:05,040 Speaker 2: you know right now it's below fifty. You know, ideally 386 00:24:05,080 --> 00:24:07,800 Speaker 2: it would be in the fifty five range. But you know, 387 00:24:07,800 --> 00:24:11,040 Speaker 2: when it starts to turn positive in about four to 388 00:24:11,119 --> 00:24:15,480 Speaker 2: six months, we see the benefits of that. The other thing, 389 00:24:15,760 --> 00:24:20,640 Speaker 2: and you know, I mean in our latest AK filing, 390 00:24:20,800 --> 00:24:23,200 Speaker 2: you know we have this. We still haven't seen weight 391 00:24:23,280 --> 00:24:28,240 Speaker 2: per shipment turn and improve. When you start to see that, 392 00:24:28,240 --> 00:24:31,800 Speaker 2: that is a good sign too, but we still haven't 393 00:24:31,800 --> 00:24:32,800 Speaker 2: seen that happen yet. 394 00:24:33,640 --> 00:24:37,119 Speaker 1: It's worth noting the ism. It's been a construction territory. 395 00:24:37,160 --> 00:24:39,320 Speaker 1: I believe thirty four of the last thirty six months, 396 00:24:39,359 --> 00:24:43,400 Speaker 1: so it's been we feel it. Yeah, you know, your 397 00:24:43,440 --> 00:24:48,840 Speaker 1: industry is consolidated over the years. Do you expect that 398 00:24:48,960 --> 00:24:52,000 Speaker 1: trend to continue? And I guess that's good for keeping 399 00:24:52,080 --> 00:24:55,520 Speaker 1: pricing rational. So do you expect the market to consider 400 00:24:55,520 --> 00:24:57,000 Speaker 1: it to continue to contolidate? 401 00:24:57,840 --> 00:25:03,760 Speaker 2: Well, I don't know that that is my expectation. We 402 00:25:03,960 --> 00:25:09,120 Speaker 2: you know, with the Yellows bankruptcy, that was a major 403 00:25:10,480 --> 00:25:15,439 Speaker 2: company competitor that's gone. And yes, some of you know 404 00:25:15,480 --> 00:25:18,520 Speaker 2: those facilities. You know a large portion of those facilities 405 00:25:18,680 --> 00:25:22,480 Speaker 2: ended up and other competitors and even US I mean, 406 00:25:22,520 --> 00:25:27,240 Speaker 2: we helped our network by buying some of those remaining 407 00:25:27,280 --> 00:25:31,040 Speaker 2: facilities that they had, but it was you know, when 408 00:25:31,040 --> 00:25:35,840 Speaker 2: I think about the capacity that's left, that is significant. 409 00:25:36,119 --> 00:25:39,240 Speaker 2: And so you know, what's been interesting is how long 410 00:25:39,320 --> 00:25:41,800 Speaker 2: the recession has gone on after that, So I think 411 00:25:41,840 --> 00:25:44,879 Speaker 2: you're not really seeing the benefits of that. But it's 412 00:25:45,000 --> 00:25:49,359 Speaker 2: more about the unusual macro than it is about you know, 413 00:25:49,400 --> 00:25:53,760 Speaker 2: the appropriate capacity level, particularly on the LTL side, being there. 414 00:25:54,480 --> 00:25:59,359 Speaker 2: And so you know, I think once we get to 415 00:25:59,480 --> 00:26:03,359 Speaker 2: a more norm normalized macro, it's going to be obvious 416 00:26:03,640 --> 00:26:09,240 Speaker 2: that the remaining companies that are in the LTL marketplace 417 00:26:10,520 --> 00:26:14,960 Speaker 2: maybe from a capacity standpoint, it's pretty appropriate, but it's 418 00:26:15,000 --> 00:26:19,880 Speaker 2: just unusual what we're facing now. And we've always been 419 00:26:19,960 --> 00:26:23,440 Speaker 2: a company that's focused on price discipline. You know, we've 420 00:26:23,440 --> 00:26:27,040 Speaker 2: had a costing model that's been in place, you know, 421 00:26:27,119 --> 00:26:31,680 Speaker 2: more than forty years. We have a lot of intelligence 422 00:26:31,800 --> 00:26:35,280 Speaker 2: around business opportunities and what they do for us, and 423 00:26:35,320 --> 00:26:38,679 Speaker 2: that's going to continue to be a point of emphasis 424 00:26:38,720 --> 00:26:41,560 Speaker 2: and really, you know, a very important part of the 425 00:26:41,640 --> 00:26:43,760 Speaker 2: success that we have on the LTL side. 426 00:26:43,960 --> 00:26:48,280 Speaker 1: Gotcha, So let's can we talk about you a little 427 00:26:48,280 --> 00:26:51,679 Speaker 1: bit if you don't mind. So can you tell folks 428 00:26:51,680 --> 00:26:55,439 Speaker 1: listening how you got into the transportation industry and what 429 00:26:55,600 --> 00:26:57,960 Speaker 1: was your career path to becoming a CEO of a 430 00:26:57,960 --> 00:27:00,680 Speaker 1: public company for a trucking company, which you know it 431 00:27:00,680 --> 00:27:04,760 Speaker 1: has historically been a male dominated industry. So you broke 432 00:27:04,880 --> 00:27:07,760 Speaker 1: you brooks, you broke some ceilings. So I want to 433 00:27:07,760 --> 00:27:08,679 Speaker 1: hear about that journey. 434 00:27:09,200 --> 00:27:13,520 Speaker 2: Yeah, it's it's been a fun journey. But I was 435 00:27:14,359 --> 00:27:18,240 Speaker 2: first introduced to the transportation industry from the work that 436 00:27:18,320 --> 00:27:22,119 Speaker 2: I did in public accounting, and so I was in 437 00:27:22,160 --> 00:27:25,439 Speaker 2: Little Rock and our company was one of my clients, 438 00:27:26,840 --> 00:27:30,240 Speaker 2: and my client base also included a lot of others 439 00:27:30,960 --> 00:27:33,679 Speaker 2: that did or were in the industry, both at that 440 00:27:33,800 --> 00:27:37,320 Speaker 2: time and continue to be, many of the neat pioneers 441 00:27:37,320 --> 00:27:41,639 Speaker 2: and entrepreneurs in the industry, and I really enjoyed working 442 00:27:41,680 --> 00:27:46,040 Speaker 2: with them, getting to know them, seeing what approaches they 443 00:27:46,119 --> 00:27:49,040 Speaker 2: deployed and the successes that they had. But it also 444 00:27:49,160 --> 00:27:53,000 Speaker 2: allowed me to see the risks that some took, and 445 00:27:53,040 --> 00:27:54,720 Speaker 2: I can look back at that now and some of 446 00:27:54,720 --> 00:27:57,879 Speaker 2: those risk takers are no longer in business. But what 447 00:27:58,119 --> 00:28:02,159 Speaker 2: was attractive to me about our company me was the 448 00:28:02,200 --> 00:28:06,000 Speaker 2: professional nature of it. I remember you know, interfacing with 449 00:28:06,119 --> 00:28:10,560 Speaker 2: the people that are here, and honestly, many of them 450 00:28:10,600 --> 00:28:13,439 Speaker 2: are retired now when I think back about who that was, 451 00:28:14,040 --> 00:28:17,000 Speaker 2: but you know, there are people of great character and integrity, 452 00:28:17,280 --> 00:28:19,639 Speaker 2: and from where I sat, that meant a lot to me, 453 00:28:19,840 --> 00:28:22,240 Speaker 2: you know, in my family life and then also my 454 00:28:22,320 --> 00:28:28,840 Speaker 2: professional life. You know, I valued integrity and being able 455 00:28:28,880 --> 00:28:31,520 Speaker 2: to be honest and trusted in the business, and so 456 00:28:32,560 --> 00:28:35,199 Speaker 2: our company was really one that stood out to me. 457 00:28:35,320 --> 00:28:38,480 Speaker 2: But when I first was asked to join art Vest 458 00:28:38,880 --> 00:28:43,080 Speaker 2: later I was oftentimes I was the only woman leader 459 00:28:43,280 --> 00:28:47,520 Speaker 2: in the room. But from the experiences that I'd had 460 00:28:47,560 --> 00:28:51,160 Speaker 2: in public accounting, where I worked around some really effective women, 461 00:28:51,240 --> 00:28:53,760 Speaker 2: but most of the clients that I had were run 462 00:28:54,160 --> 00:28:58,120 Speaker 2: by men, you know, I had developed an understanding of 463 00:28:58,160 --> 00:29:01,719 Speaker 2: all of that, and I just focused on learning our 464 00:29:01,760 --> 00:29:05,120 Speaker 2: business and building relationships with people, and I just never 465 00:29:05,280 --> 00:29:09,720 Speaker 2: let that be an issue, and it really wasn't an issue. 466 00:29:09,840 --> 00:29:12,920 Speaker 2: You know, it's so neat to look back at all 467 00:29:12,960 --> 00:29:16,120 Speaker 2: of that. But one of the things that I did, 468 00:29:16,920 --> 00:29:19,440 Speaker 2: and it was very purposeful, is I knew I had 469 00:29:19,480 --> 00:29:23,600 Speaker 2: my role, which initially was the controller for the company. 470 00:29:24,640 --> 00:29:26,480 Speaker 2: I knew I had my role. I had my job 471 00:29:26,520 --> 00:29:29,520 Speaker 2: to do. What I tried really hard to do was 472 00:29:29,680 --> 00:29:33,440 Speaker 2: make sure that I was available for those meetings or 473 00:29:33,440 --> 00:29:36,360 Speaker 2: those discussions with other leaders where I can understand the 474 00:29:36,360 --> 00:29:41,160 Speaker 2: business and I learned to love it. And that resulted in, 475 00:29:41,840 --> 00:29:44,479 Speaker 2: you know, my promotion to CFO in two thousand and 476 00:29:44,520 --> 00:29:47,760 Speaker 2: six and then ultimately in two thousand and nine being 477 00:29:47,800 --> 00:29:52,360 Speaker 2: asked to be the CEO of our company. But you know, 478 00:29:52,400 --> 00:29:55,240 Speaker 2: I had the opportunity a lot of great experiences with 479 00:29:55,560 --> 00:29:58,320 Speaker 2: lots of neat people in our industry throughout all of that. 480 00:29:58,920 --> 00:30:00,760 Speaker 1: Right, And can you share a few of the biggest 481 00:30:00,800 --> 00:30:03,800 Speaker 1: obstacles or challenges you've had to overcome while working in 482 00:30:03,880 --> 00:30:05,520 Speaker 1: industry and kind of what you learned from that. 483 00:30:06,520 --> 00:30:12,240 Speaker 2: Well, it started whenever I was a CFO. But you know, 484 00:30:12,320 --> 00:30:16,400 Speaker 2: one of the things that I'm most proud of is 485 00:30:16,440 --> 00:30:20,800 Speaker 2: the transformation that we saw that needed to happen and 486 00:30:20,920 --> 00:30:23,720 Speaker 2: how that came about. But it all started in the 487 00:30:23,760 --> 00:30:26,880 Speaker 2: fourth quarter of two thousand and six, which I had 488 00:30:26,920 --> 00:30:30,240 Speaker 2: been a CFO for relatively short amount of time. And 489 00:30:30,480 --> 00:30:33,560 Speaker 2: Lee you probably remember this. The housing market just fell 490 00:30:33,560 --> 00:30:36,080 Speaker 2: off a cliff in the fourth quarter of six, Do 491 00:30:36,080 --> 00:30:36,600 Speaker 2: you remember that? 492 00:30:36,920 --> 00:30:37,560 Speaker 1: Absolutely? 493 00:30:38,000 --> 00:30:44,000 Speaker 2: Yeah? I mean, and so then that the next big 494 00:30:44,040 --> 00:30:46,760 Speaker 2: thing that happened was the financial crisis in two thousand 495 00:30:46,760 --> 00:30:52,000 Speaker 2: and eight, and then from all of that came the 496 00:30:52,040 --> 00:30:55,880 Speaker 2: Great Recession in two thousand and nine. So I'm again 497 00:30:55,960 --> 00:31:00,560 Speaker 2: I'm CFO during this time. But in October two thousand 498 00:31:00,560 --> 00:31:04,360 Speaker 2: and nine, the CEO of our company, then Bob Davidson, 499 00:31:04,520 --> 00:31:07,160 Speaker 2: who had he was the successor to Robert A. Young 500 00:31:07,200 --> 00:31:10,880 Speaker 2: the third, he announced that he was going to retire 501 00:31:11,800 --> 00:31:13,480 Speaker 2: and that he was going to be gone by the 502 00:31:13,560 --> 00:31:16,440 Speaker 2: end of the year. And so, you know, it was 503 00:31:16,760 --> 00:31:19,680 Speaker 2: a year where we had about a billion and a 504 00:31:19,720 --> 00:31:22,640 Speaker 2: half in revenue. We'd lost twenty five percent of our 505 00:31:22,680 --> 00:31:27,520 Speaker 2: revenue because of the Great Recession, and we lost one 506 00:31:27,560 --> 00:31:32,600 Speaker 2: hundred million dollars and so that was nine But at 507 00:31:32,600 --> 00:31:34,800 Speaker 2: the same time as all that was going on, I 508 00:31:34,960 --> 00:31:38,120 Speaker 2: was never so flattered when Robert Young walked in my 509 00:31:38,200 --> 00:31:40,280 Speaker 2: office and asked me to be the next CEO of 510 00:31:40,320 --> 00:31:45,200 Speaker 2: the company, to succeed Bob, and you know, so I 511 00:31:45,760 --> 00:31:49,680 Speaker 2: told him I would. It was a tough situation. The 512 00:31:49,720 --> 00:31:51,960 Speaker 2: good part of it was that I was already dealing 513 00:31:52,000 --> 00:31:53,880 Speaker 2: with that as CFO, so I kind of had my 514 00:31:54,000 --> 00:31:56,320 Speaker 2: hands on what we needed to do on the cost 515 00:31:56,440 --> 00:32:01,280 Speaker 2: side and I did that. We took those actions, but 516 00:32:01,920 --> 00:32:05,000 Speaker 2: from there it was so obvious to me that we 517 00:32:05,000 --> 00:32:07,680 Speaker 2: were going to have to do something very different. You 518 00:32:07,720 --> 00:32:10,600 Speaker 2: mentioned green shoots earlier, and I think about the green 519 00:32:10,640 --> 00:32:14,880 Speaker 2: shoots we looked for then. But the great thing for us, 520 00:32:15,000 --> 00:32:17,560 Speaker 2: as having been in business so long, we had many, 521 00:32:17,640 --> 00:32:22,640 Speaker 2: many trusted customer relationships, and we leaned on those. We 522 00:32:22,680 --> 00:32:28,280 Speaker 2: got together our team and we started working with customer data, 523 00:32:28,480 --> 00:32:33,640 Speaker 2: tracking trends, asking questions and getting honest feedback from many 524 00:32:33,680 --> 00:32:36,640 Speaker 2: of our customers. And again, you can't do that if 525 00:32:36,680 --> 00:32:40,280 Speaker 2: you don't have the trusted relationships. And what we uncovered 526 00:32:40,560 --> 00:32:43,880 Speaker 2: was that we were better as a full suite of 527 00:32:43,960 --> 00:32:48,560 Speaker 2: solutions for our customers than we were just serving only 528 00:32:48,600 --> 00:32:52,480 Speaker 2: the LTL part of our business. And the great thing 529 00:32:52,760 --> 00:32:58,320 Speaker 2: was we anticipated the complexity that our customers would be facing, 530 00:32:58,360 --> 00:33:01,200 Speaker 2: maybe not at the level that they're facing it, but 531 00:33:01,240 --> 00:33:05,480 Speaker 2: we anticipated that, and you know, we were able to 532 00:33:05,560 --> 00:33:09,120 Speaker 2: expand the markets that we were serving, which today the 533 00:33:09,160 --> 00:33:14,479 Speaker 2: figures are about fifty plus billion that's LTL. If we 534 00:33:14,520 --> 00:33:17,000 Speaker 2: instayed the course of that, that's the market we would 535 00:33:17,000 --> 00:33:21,880 Speaker 2: be serving. Instead, it's four hundred billion dollar marketplace that 536 00:33:21,960 --> 00:33:26,120 Speaker 2: we're serving. So we vastly increase the markets that we 537 00:33:26,200 --> 00:33:30,600 Speaker 2: serve and our ability to succeed. But we had to 538 00:33:30,720 --> 00:33:34,320 Speaker 2: educate our leaders and our employees about what we were 539 00:33:34,320 --> 00:33:38,320 Speaker 2: doing as we were going to market differently, and we 540 00:33:38,400 --> 00:33:42,680 Speaker 2: had to make some acquisitions and work through the integration 541 00:33:42,840 --> 00:33:46,280 Speaker 2: of those. It was really important to have a good 542 00:33:46,280 --> 00:33:51,600 Speaker 2: foundation of HR and talent development at the time. And 543 00:33:51,600 --> 00:33:54,680 Speaker 2: then I've already mentioned the importance of our technology team 544 00:33:54,800 --> 00:33:56,640 Speaker 2: being able to look at what we needed to do 545 00:33:57,400 --> 00:34:01,440 Speaker 2: and in some respects developed that our selves so that 546 00:34:01,520 --> 00:34:05,880 Speaker 2: we could evolve and change. And I'm very, very proud 547 00:34:05,880 --> 00:34:09,160 Speaker 2: of the fact that we go to market as an 548 00:34:09,320 --> 00:34:14,399 Speaker 2: integrated logistics company that serves our customers well and has 549 00:34:14,440 --> 00:34:18,080 Speaker 2: a lot more opportunity and sustainability, you know, than we 550 00:34:18,120 --> 00:34:20,279 Speaker 2: did back in those days. 551 00:34:20,320 --> 00:34:22,319 Speaker 1: Great, and can you share any piece of advice you 552 00:34:22,480 --> 00:34:28,280 Speaker 1: might have given your successor, Seth Runtzer when he starts 553 00:34:28,719 --> 00:34:30,879 Speaker 1: his new role at the beginning of next year. 554 00:34:31,800 --> 00:34:36,799 Speaker 2: Well, first of all, Seth is very, very capable, and 555 00:34:36,840 --> 00:34:39,480 Speaker 2: I'm really excited about him, and he and I've worked 556 00:34:39,480 --> 00:34:44,440 Speaker 2: together on this transition for multiple years, probably four or 557 00:34:44,480 --> 00:34:48,640 Speaker 2: so years, and he has a very different background than me. 558 00:34:49,040 --> 00:34:51,799 Speaker 2: But that is serving him well. We talked a lot 559 00:34:51,840 --> 00:34:57,200 Speaker 2: already about technology kind of in its intersection with operations. 560 00:34:57,239 --> 00:35:01,240 Speaker 2: He is very great at that, and it's so visible 561 00:35:01,320 --> 00:35:03,920 Speaker 2: and urgent for him to get some of those things done. 562 00:35:04,600 --> 00:35:07,040 Speaker 2: But you know, one of the things that I've shared 563 00:35:07,080 --> 00:35:10,560 Speaker 2: with him that has come up in my mind multiple times, 564 00:35:11,040 --> 00:35:14,040 Speaker 2: and that is that sometimes you have to make a 565 00:35:14,040 --> 00:35:20,600 Speaker 2: decision that you don't necessarily have all of the steps 566 00:35:20,680 --> 00:35:23,160 Speaker 2: or the facts or the path to how that's going 567 00:35:23,239 --> 00:35:27,600 Speaker 2: to unfold, but that you have to get as much 568 00:35:27,640 --> 00:35:32,160 Speaker 2: information as you can and evaluate it and then a 569 00:35:32,239 --> 00:35:34,279 Speaker 2: lot of times you just have to make your next 570 00:35:34,320 --> 00:35:38,240 Speaker 2: best move. And you know, because I think some people 571 00:35:38,400 --> 00:35:42,200 Speaker 2: strive for that understanding and that level of perfection in 572 00:35:42,320 --> 00:35:46,200 Speaker 2: every decision and in our business, and with how rapidly 573 00:35:46,239 --> 00:35:49,800 Speaker 2: things change, sometimes you can't wait to do that. And 574 00:35:51,120 --> 00:35:53,839 Speaker 2: so he and I've talked about that a lot. How 575 00:35:53,880 --> 00:35:56,960 Speaker 2: many different times that I've had to take that approach 576 00:35:57,920 --> 00:36:02,560 Speaker 2: and not know all the outcomes of that decision, but 577 00:36:02,640 --> 00:36:05,000 Speaker 2: do the very best that you can with what you know. 578 00:36:05,640 --> 00:36:10,160 Speaker 1: Right, And what piece of advice would you give new graduates, 579 00:36:10,200 --> 00:36:14,120 Speaker 1: particularly women looking to enter and succeed in the logistics 580 00:36:14,120 --> 00:36:15,280 Speaker 1: and transportation field. 581 00:36:16,480 --> 00:36:19,759 Speaker 2: Just never underestimate the impact that you can have as 582 00:36:19,760 --> 00:36:25,000 Speaker 2: an individual. And I give this advice often is just 583 00:36:25,160 --> 00:36:28,640 Speaker 2: don't worry about that next rung on the ladder or 584 00:36:28,960 --> 00:36:32,200 Speaker 2: like seeing yourself and then in that next role. Just 585 00:36:32,360 --> 00:36:35,360 Speaker 2: do a great job at the work that you're doing. 586 00:36:35,760 --> 00:36:38,480 Speaker 2: And I think when I as I was describing earlier, 587 00:36:38,520 --> 00:36:42,600 Speaker 2: for me, make sure that you do that so well 588 00:36:42,680 --> 00:36:45,960 Speaker 2: that you have time to learn the part of the 589 00:36:46,000 --> 00:36:50,120 Speaker 2: business or the business that you're in, and something else 590 00:36:50,160 --> 00:36:55,040 Speaker 2: I think that it's just super important is aligning your 591 00:36:56,280 --> 00:36:59,839 Speaker 2: values with the company that you work for. It's so 592 00:37:00,080 --> 00:37:05,360 Speaker 2: important to come to work every day knowing that you agree, 593 00:37:05,719 --> 00:37:08,680 Speaker 2: you know, with the values based approach that your company has. 594 00:37:09,440 --> 00:37:13,480 Speaker 2: That just makes things better and easier because I've found 595 00:37:13,680 --> 00:37:16,120 Speaker 2: if you can trust the people that you work around, 596 00:37:16,120 --> 00:37:20,960 Speaker 2: you're able to go faster. You're you're facing fewer obstacles. 597 00:37:21,320 --> 00:37:24,080 Speaker 2: Sometimes I think about, you know, the importance of not 598 00:37:24,160 --> 00:37:27,359 Speaker 2: creating obstacles inside the company, because you have so many 599 00:37:27,400 --> 00:37:31,480 Speaker 2: outside the company that you're trying to solve. But you know, 600 00:37:31,560 --> 00:37:35,520 Speaker 2: I think I think people underestimate their own ability to 601 00:37:35,680 --> 00:37:39,080 Speaker 2: grow and change, which is doing a great job at 602 00:37:39,080 --> 00:37:39,880 Speaker 2: the job that they have. 603 00:37:40,400 --> 00:37:43,239 Speaker 1: That's that's actually very very good advice that that could 604 00:37:43,280 --> 00:37:47,200 Speaker 1: be applied to any profession, not just the transportation profession. 605 00:37:47,520 --> 00:37:49,200 Speaker 1: So what's going to be the biggest thing you're going 606 00:37:49,239 --> 00:37:51,840 Speaker 1: to miss after stepping away as the company's CEO. 607 00:37:53,320 --> 00:37:56,480 Speaker 2: Well, I know what it is. And we've already had 608 00:37:56,520 --> 00:37:59,960 Speaker 2: one retirement event and it was really in front of me. 609 00:38:01,520 --> 00:38:04,799 Speaker 2: I was looking across the audience at that event and 610 00:38:04,920 --> 00:38:07,440 Speaker 2: just seeing the faces of people. Some of them I 611 00:38:07,480 --> 00:38:09,399 Speaker 2: see every day, but some of them were from out 612 00:38:09,440 --> 00:38:11,919 Speaker 2: of town that I don't And I am just really 613 00:38:11,960 --> 00:38:15,000 Speaker 2: going to miss the people in our business. We have 614 00:38:15,160 --> 00:38:21,799 Speaker 2: a We're blessed with people who are hard working and 615 00:38:21,960 --> 00:38:26,319 Speaker 2: care and want the best for both our people and 616 00:38:26,480 --> 00:38:30,439 Speaker 2: our customers. And you know, they're just great people. They're 617 00:38:30,440 --> 00:38:32,400 Speaker 2: people that you want to spend time with, They're people 618 00:38:32,440 --> 00:38:35,520 Speaker 2: you want to be friends with. And I'll miss that 619 00:38:35,719 --> 00:38:38,560 Speaker 2: the just the daily interaction there. I'm going to continuous 620 00:38:38,600 --> 00:38:41,080 Speaker 2: chairman of the board and so I'll have, you know, 621 00:38:41,160 --> 00:38:44,239 Speaker 2: some visibility into that. But you know, it's going to 622 00:38:44,320 --> 00:38:49,160 Speaker 2: be different for me after forty years of working really hard, 623 00:38:49,640 --> 00:38:53,000 Speaker 2: not having the day to day but I'm also looking 624 00:38:53,040 --> 00:38:56,359 Speaker 2: forward to spending more time with my husband Lance. He's 625 00:38:56,400 --> 00:38:59,480 Speaker 2: been such a supporter of me and an enabler of me, 626 00:38:59,640 --> 00:39:02,520 Speaker 2: and he loves his company like I do. And then 627 00:39:02,719 --> 00:39:06,560 Speaker 2: the other night we had some time with our grandchildren, 628 00:39:06,600 --> 00:39:09,920 Speaker 2: who won is twenty months old and one is fifteen 629 00:39:09,920 --> 00:39:13,000 Speaker 2: months old, a grandson and a granddaughter, and we're looking 630 00:39:13,000 --> 00:39:16,000 Speaker 2: forward to having some more flexibility and time to spend 631 00:39:16,040 --> 00:39:19,439 Speaker 2: with them. But I'm going to continue on Oge's board too, 632 00:39:19,680 --> 00:39:23,960 Speaker 2: and so I'll be I'll be busy, but it'll the 633 00:39:24,040 --> 00:39:26,280 Speaker 2: days will look different than they do today. 634 00:39:26,760 --> 00:39:29,600 Speaker 1: And besides family time, is there anything else you're gonna 635 00:39:29,840 --> 00:39:34,120 Speaker 1: be exploring, whether maybe be involved in the industry other ways, 636 00:39:34,239 --> 00:39:36,880 Speaker 1: or I don't know, getting better at golf or picking 637 00:39:36,960 --> 00:39:38,240 Speaker 1: up golf. Is there anything? 638 00:39:38,239 --> 00:39:40,680 Speaker 2: Well, you know, Lance and I've talked a lot about golf. 639 00:39:41,160 --> 00:39:45,279 Speaker 2: We both like to trap fish and fly fish, and 640 00:39:45,360 --> 00:39:48,440 Speaker 2: so we're going to do some of that. And he 641 00:39:48,480 --> 00:39:51,000 Speaker 2: and I used to play golf together in college, but 642 00:39:51,160 --> 00:39:55,760 Speaker 2: I declined many opportunities to play golf on occasion because 643 00:39:55,760 --> 00:39:58,040 Speaker 2: I'm not good enough at it. But we'll probably pick 644 00:39:58,120 --> 00:40:00,640 Speaker 2: that back up again. He's a great golfer and you 645 00:40:00,640 --> 00:40:03,720 Speaker 2: know his plate since he was a child. So anyway, 646 00:40:03,760 --> 00:40:05,480 Speaker 2: we're going to do some of that as well, but 647 00:40:06,560 --> 00:40:11,239 Speaker 2: we're kind of not really placing kind of restrictions on 648 00:40:11,320 --> 00:40:13,560 Speaker 2: what we might do. We're going to do a little 649 00:40:13,600 --> 00:40:16,279 Speaker 2: travel and and you know some of the things that 650 00:40:16,320 --> 00:40:19,600 Speaker 2: we already talked about. It's more having the flexibility to 651 00:40:19,640 --> 00:40:23,760 Speaker 2: do what you want to do. And you know, again, 652 00:40:23,920 --> 00:40:26,640 Speaker 2: I'm it would be hard, very difficult for me to 653 00:40:26,719 --> 00:40:29,479 Speaker 2: not be involved at all with our great company going 654 00:40:29,520 --> 00:40:32,560 Speaker 2: forward because we just have so much potential. 655 00:40:32,400 --> 00:40:34,400 Speaker 1: Right And are you still going to be involved with 656 00:40:34,440 --> 00:40:36,080 Speaker 1: the ATA I? 657 00:40:36,200 --> 00:40:39,160 Speaker 2: You know, I probably won't. I'll probably transition that to 658 00:40:39,320 --> 00:40:42,480 Speaker 2: Seth and Matt Godfrey that runs a BF and you know, 659 00:40:42,520 --> 00:40:47,520 Speaker 2: we've had people involved in safety committees, you know, and 660 00:40:47,600 --> 00:40:50,000 Speaker 2: cross border committees and all that. We're going to continue 661 00:40:50,040 --> 00:40:52,640 Speaker 2: at the level that we we do today, but I 662 00:40:52,680 --> 00:40:56,120 Speaker 2: won't be as as involved as I once was. 663 00:40:56,640 --> 00:40:59,760 Speaker 1: So and just just to be clear, I've been playing 664 00:40:59,760 --> 00:41:02,440 Speaker 1: golf since I've been in high school and I'm still terrible, 665 00:41:02,600 --> 00:41:03,640 Speaker 1: So I don't. 666 00:41:04,120 --> 00:41:08,120 Speaker 2: Yeah, it's so it doesn't. You just have to enjoy 667 00:41:08,160 --> 00:41:09,319 Speaker 2: being outside, don't you. 668 00:41:09,800 --> 00:41:12,080 Speaker 1: I do, I do, and I and then during the 669 00:41:12,080 --> 00:41:14,279 Speaker 1: summer I try to play at least once a week, 670 00:41:14,360 --> 00:41:18,240 Speaker 1: but when my schedule permits. But I'm still absolutely terrible, 671 00:41:18,239 --> 00:41:19,880 Speaker 1: and my friends continue to make fun of me. 672 00:41:20,160 --> 00:41:22,640 Speaker 2: It's oh they do, Okay, Well that'll probably happen to me. 673 00:41:22,760 --> 00:41:25,880 Speaker 2: You know. One of my strategies has been to whenever 674 00:41:25,960 --> 00:41:27,960 Speaker 2: I hit my ball, if it's a good shot, great, 675 00:41:28,000 --> 00:41:29,960 Speaker 2: If it's not, I pick my ball up and move 676 00:41:29,960 --> 00:41:31,800 Speaker 2: it where Lance is to hit it again, so I 677 00:41:31,880 --> 00:41:33,000 Speaker 2: don't slow him down. 678 00:41:33,280 --> 00:41:36,319 Speaker 1: That's that's a good strategy. Well, I really want to 679 00:41:36,360 --> 00:41:38,919 Speaker 1: thank you for your time, Judy and your insights today. 680 00:41:39,160 --> 00:41:40,920 Speaker 1: I really appreciate it, and I also want to wish 681 00:41:40,960 --> 00:41:43,880 Speaker 1: you all the best in your the next chapter in 682 00:41:43,920 --> 00:41:45,160 Speaker 1: your career as it begins. 683 00:41:45,360 --> 00:41:49,040 Speaker 2: Well, thank you so much. Lee. I valued your knowledge 684 00:41:49,280 --> 00:41:53,600 Speaker 2: and your role that you've had in our industry and 685 00:41:53,719 --> 00:41:56,799 Speaker 2: admired that. So I appreciate you reaching out and being 686 00:41:56,840 --> 00:41:58,200 Speaker 2: able to do that with you today. 687 00:41:58,719 --> 00:42:00,879 Speaker 1: All Right, thanks those kind of words, and I also 688 00:42:00,920 --> 00:42:02,719 Speaker 1: want to thank you for tuning in. If you liked 689 00:42:02,760 --> 00:42:06,200 Speaker 1: the episode, please subscribe and leave a review. We've lined 690 00:42:06,239 --> 00:42:08,000 Speaker 1: up a number of great guests for the podcast, so 691 00:42:08,080 --> 00:42:13,040 Speaker 1: please check back to hear conversations with C suite executives. Shippers, regulators, 692 00:42:13,040 --> 00:42:16,040 Speaker 1: and decision makers within the freight markets. Also, if you 693 00:42:16,080 --> 00:42:19,040 Speaker 1: want to learn more about the freight transportation markets, check 694 00:42:19,040 --> 00:42:21,759 Speaker 1: out our work on the Bloomberg Terminal at Bigo and 695 00:42:21,800 --> 00:42:24,719 Speaker 1: on social media. This is Lee Klasgaw signing off and 696 00:42:24,719 --> 00:42:27,239 Speaker 1: thanks for talking transports with me. Talk to you soon.