Posted on 11/03/2009 10:14:54 AM PST by Lorianne
Freight forwarder and logistics company Expeditors International of Washington Inc. said on Tuesday that its third-quarter profit dropped 33 percent as freight haulers raised prices even as demand remained weak.
The company said it was hurt by freight carriers who cut capacity and imposed "very aggressive price increases."
"Market conditions required that we absorb these increases for several weeks as we worked with customers to raise rates in a commercially acceptable manner," said Chairman and CEO Peter J. Rose.
He said year-over-year declines in freight volumes in September dropped less than in previous months, with airfreight tonnage down 6 percent, and container counts fell 17 percent.
(Excerpt) Read more at google.com ...
Profits would improve if only they could land the contract to ship Obama’s BS.
I wonder if this has anything to do with Buffet buying a railway company???
Out of favor market would qualify for buy low
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