Mario Harik

And then we mapped their network onto our network.

And we found 28 properties that would have the largest impact.

And for each one of them, then, we created a business plan.

We created a business plan that says, how much efficiency are we going to get in that market?

If we are capacity constrained today and we have a 5% market share in that market and our company's market share in the industry is about 10%, how can we grow from 5% beyond that?

And what would be the financial flow through the income effectively associated with growing in that particular market?

And we were able to effectively identify 28 properties that were the ones that we wanted to buy.

And we ended up spending nearly a billion dollars on that real estate.

And it was a remarkable acquisition because effectively it's now giving us the runway.

So one, it made us much more efficient.

They won in those markets.

We were able to improve operating margins dramatically.

That's not the only reason why, but that was part of the reason.

But more importantly, that capacity now is enabling us to capitalize on what could be an industrial recovery over the years to come here in North America.

And these terminals would pay big, big roles in enabling us to deliver on that.

Well, overall, you start off by looking at what are the units of how do the financials add up effectively.

So what's the overall return you're going to get on that deployed capital?

And what I learned from Brad is it doesn't matter what the size of the check is.

That's the only thing that matters, which is the return you're going to get on the size of the check.

But a lot of it is, you know, obviously our board was very much involved in the process, giving feedback and perspective based on the numbers that we were showing.