At least we are kind enough not to go to the other company's forums and talk about their struggles and hardships during these economic times. For some it might be easy to go to the blue and white forum and talk about the $49.7 million loss in the 4th QTR of 2008. Shoot, Wilson could lose money for the next twenty years and not loose the money blue and white lost in one quarter.
Are we struggling right now, yes we are. Most LTL companies are having a difficult time right now. However, unlike many, we are poised to get through this and come out stronger than we have been in a long time. Are we losing a little bit of money right now, yes, a little bit, but if you compare it to $49.7 million, it is pocket change.
We have cash in the bank, we have absolutely zero debt, we pay cash for our terminals and our equipment, and we have an outstanding group of employees.
I could go a lot deeper into the financials to really prove my point but I won't and don't feel that is necessary or prudent. The fact is that most LTL company's have to worry about those banks calling in the notes on the debt that has built up and the only reason the banks call Wilson is to offer advice on what instruments to place the cash in for our best return.
Are we struggling right now, yes we are. Most LTL companies are having a difficult time right now. However, unlike many, we are poised to get through this and come out stronger than we have been in a long time. Are we losing a little bit of money right now, yes, a little bit, but if you compare it to $49.7 million, it is pocket change.
We have cash in the bank, we have absolutely zero debt, we pay cash for our terminals and our equipment, and we have an outstanding group of employees.
I could go a lot deeper into the financials to really prove my point but I won't and don't feel that is necessary or prudent. The fact is that most LTL company's have to worry about those banks calling in the notes on the debt that has built up and the only reason the banks call Wilson is to offer advice on what instruments to place the cash in for our best return.