You can see down at the bottom, how we have work towards becoming more of a two day and beyond, a carrier with the network changes that we've made over the last several months 60% of our business is delivered in three days or less, but 42% is four days or more. YRC Freight they are really concentrating on becoming more of a 500 to 3500 miles length of haul carrier and have less in their emphasis on next day even though as you can see, we still do a next day business, but still broadly represented across the United States, Canada and Mexico.
If you look at the regional transportation group, Reddaway is primarily a 11 Western States Company, Holland, Midwest and Southeast, New Penn, a legendary carrier in the Northeast. 114 facilities about 3900 dock doors, average length of haul 500 miles. Their average weight per shipment at the regional group is about 1300 pounds and a 98% of their shipments are delivered in two days or less.
New Penn’s average length of haul is really the shortest of the three and as primarily over in that carrier, but all three companies give outstanding service and their footprints and really are likes what’s happening at the regional companies.
As far as the July 2011 transaction, new board was placed. I came on board, July 27, 2011, quickly moved to do some things differently at the corporate office from a structure standpoint. I’ll cover that here more in just a second.Additional liquidity was provided at that time for the company and the maturities on all major credit facilities were extended to late 2014 to early 2015. Really one of the things that we wanted to try to accomplish was to get the company very focused on what we do best, and no matter how hard this company had tried to diversify away from its original roots, 90%, 95% of the revenue always came from trucking, and about 98% of the profits back in the day always came from trucking. Read the rest of this transcript for free on seekingalpha.com
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