Post Gordon ~ Thoughts, Commentary & Reflections

Conversation Thursday night at our Illinois shop:
--Company hired 2 out of CR England orientation. First hired 31-yr-old that CR decided not to hire; then N1 (Newbie 1) recruited a buddy N2 (Newbie 2), who is only 21-yrs-old, no previous experience (our insurance requires 2 yrs OTR), N2 now owes CR $5,000 for CDL training he says;
--Co then made N1 trainer (2 wks more with co) of N2 and keeps changing the # hrs N1 and N2 have to drive together as trainer/trainee before N2 goes on his own;
--Not their fault, but they got Postville load there late with upset flat rack driver laying over waiting for them;
--Then managed to get a Prairie du Chien critical load day late to Indiana (Prairie's 20 miles from Postville);
--Took them to bbq place and bought them dinner to get whole story.
Sometimes it's just funnee! Sometimes, it's not.

 

New 8-K from HTLD (financial statement)

Find it here: http://secfilings.nasdaq.com/filing...RESS+INC&FormType=8-K&RcvdDate=7/25/2014&pdf=

--HTLD stock reached new high this week $24/share
--Closed $23.10 on Friday, 7/25/2014
--Improved operating ratio from 90.8% to 82.1%
--Operating ratio is per cent of revenues that operating costs eat up
--Lower operating ratio = better
--PeopleNet vs QualComm resolution next quarter
--Both GTI and HE under one technology in next 3 months
--$250 million Wells Fargo revolver loan now down to $43 million
--HTLD had $16.1 million in cash as of June 30
--GTI = Gordon Trucking Inc
--HE = Heartland Express
--HTLD = Parent company of both and NASDAQ symbol

 

//Thx for clarification...

 

Gordon drivers I've talked to recently have emphasized just that fact, that the two run and operate separately. GTI not = HE yet. Very important to them.

So far, have not encountered a Gordon who expects to stay.

So HTLD still has work to do.

Have not encountered an HE driver who expects to leave HE any time soon.

Moving from 90.8% down to 82.1% is sort of mind-boggling across 4,500 trucks, 2,000 from another firm with diff operating environment.

As well as continuing to pay down the revolver this fast.

No 'New Century' issue at HTLD.