Brad Jacobs

And I said, what is it?

He said, it's contract logistics.

And I said, okay, what's contract logistics?

I didn't know what that meant.

That's a part of the world I never really explored.

And so I got some fast education and tutorials about the warehousing business, supply chain management, contract logistics.

I looked at who the customers were.

I saw opportunities to do things with those customers in the original four things we were looking at and made perfect sense.

So that was an example of, yeah, we had a strategy.

Yeah, the strategy was working, but an opportunity to enhance the strategy by getting to a whole new line of business.

And over time, we bought other contract logistics companies, put them all together, integrated them on a global basis.

Eventually, we spun it off.

And today that's called GXL Logistics, which is a New York Stock Exchange company trading on its own and doing super well.

Another example of pivoting, of being opportunistic, of having an opportunity fall on our head and instead of getting a headache, we looked at it and said, that's interesting.

I was trying to buy this company called Menlo Logistics, which was the contract logistics subsidiary of Conway.

And in the course of negotiating with the Conway team and getting to know them and flying out to Ann Arbor and learning the business that they had in Menlo, they proposed to me.

They said, you know what?

Why don't you just buy the whole business?

Why are you just buying contract logistics?

The LTL business is a fantastic business.