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Trucker C.H. Robinson's Strategy of Not Owning Its Trucks Pays Off

Trent, I agree with your conclusion that the non-asset based players are a smarter way to play the transportation space. While they have less operating leverage, at this point in the economic cycle, they will see less multiple compression when the "soft landing" materializes, because they have much lower fixed costs. That said, I recently looked at the group and felt that the valuations were a little rich, with the exception of PACR, a company that shares many of the same competitive advantages as CHRW, but at half the multiple. Have you ever looked at this name? I wrote an article in my blog about PACR....Thnks

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