This is not great, but both Yellow and Roadway were operating at these levels for several years in the late eighties and early nineties. They are not losing money. CF was operating over 100 for a few years and stayed afloat, but they were able to access capital. Capital is frozen right now. Before the economy started to head downhill in 2007, Yellow and Roadway were operating in the 92 to 95 range. That was pretty good. Our non-union competition was two to three points better, but their overhead was much lower. They should have been doing much better than that, which says something about their management.
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