Short facts from Con-Way's financial report 2/3/12

FREIGHT
Daily tonnage is up slightly (8/10%) income is up (8.7%) and stable.

401k contributions started back up which lead to
More expense (Est. to continue to be $4 mil a quarter)

Seems you are still the loved division (#1 in actualized revenue, so it makes sense) over Truckload and Menlo judging soley buy questions from investors but the Pres. Of that division did a great job defending Pay Increase, reinstatement of 401K match, Etc.

New equipment purchases will continue but unknown how much. Total for truckload and freight last year was 71 mil. and profits didn't dive so that's good

Truckload
(1) sole question from either Credit suisse or Deutsch Bank that was answered head on by Herb. It was about how utilization was down. Herb said it was due to less teams on the fleet

Year over year revenue up 31% when you compare previous year same quarter

New trucks will still be coming to replace red racers BUT they are not expanding the fleet just replacing.

New focus on owner operators leasing on, no details on why (money saving measures I'm sure)

Aparently surprising to me the retention/turn over rate is still a number they are happy with at truckload (no specific % given)

BEST PART OF BOREDOM ***RAISES***
It was mentioned a new expenditure of roughly $11 mil a quarter since there have been no true raises since '08 Unfortunately it was no stated by one specific division (Menlo, Freight, Truckload) so odds are it will be more on the management side the drivers side but who knows.

Even this abridged version is a little boring but I think if everyone does their best to learn about what the suits do then it can help people understand why things are happening that effect them. We deliver stuff (tough job) they keep multi-millionaires and investment firms happy (I'll take driving over that gig, even w/ the pay) we always want them to understand and respect us for what we do and sometimes I think it's lost on us the Political shark eat shark song and dance they do in their uncomfortable office close to not have money and investors run for the hills leaving us all w/ no job

 

I'm not sure either. They had 4 people in the share holders meeting/ conference call but it was the 1 person whom didn't have a title at any specific company (Menlo, freight, or TL) that mentioned raises in the preface to the specific division presidents talking. I was just happy to see no large share holder groups had issue w/ the plans cause boy can that kibash things.