Their earnings compounded at about 55% CAGR during that period while we were public and we outperformed – our stock price outperformed S&P by 5.6x. I started United Rentals in 1997 and ran it for 10 years and became the largest rental company in the world and we outperformed the S&P by 2.2x during the time that I ran it.The reason that I’ve picked transportation logistics and specifically this truck brokerage model to be my next venture is it’s large, it’s growing and it’s fragmented. So if we’re going to create a $5 billion company we have to find an industry that is 10 times the size of that or more. Transportation logistics is clearly that. Logistics worldwide is about $3 trillion. US logistics is about $1 trillion. US trucking is about $350 billion and only about $50 billion of that or about 15% currently goes through brokers. The other $350 billion goes direct between a shipper and a carrier. So we’re positioning the company not just to compete for the $50 billion that’s going to brokers right now, but for the $300 billion that’s not yet going through brokers, but we think will.
XPO Logistics' CEO Presents At The Deutsche Bank 2012 Aviation And Transportation Conference (Transcript)
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