WHAT SETS US APART
What amazing news we received last week when Randy announced our stock price of $59.81, a 21.1% increase over the prior year! It is incredible to see the continued growth that our company has experienced since the inception of the ESOP (Employee Stock Ownership Plan), and things just continue to improve. Randy mentioned in his video that several factors that led to the increase: maintaining a strong rate per mile, savings in insurance costs, and debt reduction. When I look at each of these stock increase factors independently and compare them with what we are hearing from the industry, our company stands above the pack. Whether it is from the industry media, conferences, peer meetings, or one-on-one conversations with other carriers, all I hear is how rate pressure from customers continues, insurance renewals are astronomical, and cash flow continues to be strained — the exact opposite of what we are experiencing here.
$2,671,603 into employee owners’ ESOP accounts. Who doesn’t get excited about that? Each and every one of us play an integral part in continuing to improve the company, and we reap the benefits. Secondly, our customers : Throughout this pandemic, we have been very blessed that our customers have continued to provide us freight to move and allowed us to continue to keep everyone busy. Not many companies can say that. We never really missed a beat throughout this unprecedented time in history, but we just continued right along with our customers and their ability to continue allowed that to happen. Finally, the culture that we have here is one that — in my career at other companies, both trucking and non-trucking — is second to none. We are not perfect and we continue to improve, but I think that there are employees in every area of the business who would echo my sentiment that this is a really great place to be, and it is really GOOD TO BE US. Halfway through 2020, we continue to perform just slightly ahead of last year, and my projection for the remainder of the year is that we will outperform last year, barring some unforeseen circumstance. I want to thank each and every one of you for the contributions you make, and I look forward to what we can accomplish together in the remainder of 2020.
What sets us apart from the majority of other carriers in the industry?
I think this can be explained by three factors:
1. Our employee owners
2. Our customers
3. Our culture
First, our employee owners: Whether you are a driver, a mechanic, or are in the office, every single one of you hopefully understands that your contribution to the overall success of the company will directly benefit you personally. This year we will allocate an additional 44,668.17 shares to our employee owners at a value of $59.81, which means we will put
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