In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, October 10, 2007

Fortune Magazine: YRC Worldwide sees blue Christmas

by Calculated Risk on 10/10/2007 02:40:00 PM

From Fortune Magazine: Trucking giant sees blue Christmas (hat tip Andrew)

Here are some excerpt from an interview with YRC Worldwide CEO Bill Zollars. (emphasis added)

Fortune: How is the holiday season shaping up?

Zollars: We've got a window now of about ten weeks or so where we should really see a big increase in shipment volumes as we get ready for Christmas. We have not seen that, and that's a concern. Last year's inventory buildup for Christmas was lower than historical standards, and the season ended up okay - not terrible. This year you have some easy comparisons, so you would expect to see more of a preholiday inventory buildup, but we have not seen that. Maybe it's coming later. Maybe it's not coming.
Fortune: Getting back to the economy, could things get worse before they get better?

Zollars: We have not felt the bottom yet. I'm still a bit nervous. Right now, if things continue to deteriorate, I'm worried we may head into a recession. [I feel that] there is a one-in-three chance of a recession. We are prepared for the worst and hoping for the best.