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Swift Lesson in How IPOs Should Work

Jerry Moyes, now 69, still works as CEO, and Reuters says he earned $1.44 million in the most recent year. The president is Richard Stocking, 42, who has spent his career with the company.

What you have, at the end of the day, is a company favored by institutions, with a stable management team and a clear transition in place, one that benefits enormously from cross-border trade across North America.

Going public turned Swift from a family business into an institution, and a favorite investment of institutions. That is what an IPO is supposed to do.

At the time of publication, the author had no investments in companies mentioned here.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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