WNC
#Thank you.
Not substantially.
We'll say after public comment and rule as it reads today it's much less impact and leveragable from a manufacturer's standpoint.
It is going to have impact on the physical carriers and the added requirements.
We don't necessarily see that relating into any material impact from a manufacturer's perspective at this time.
I think cancellations are a mixed bag.
Across the industry, there were some cancellations, to your point, that were just re-calendarizations moving into 2017.
I think most of the cancellations in general were within what I would call the small and medium tier players from an end customer stand point, not the larger customers.
At least that was definitely how we saw it from our perspective.
In general, cancellations have begun to really quiet as we move into this fourth quarter.
We feel the market has generally calmed down and has reset itself moving into 2017.
Well, it sounds more like former than the latter based on the way you described it.
And that is what I tried to share in my comments.
By appointing <UNK> into the role as Chief Operating Officer he effectively fills a role that I have been carrying all this time.
While I did not carry the title anymore, it is a title I had previously, and as we have expanded and have grown the business it gets that much more difficult to spend appropriate amount of time overseeing the myriad of businesses that we now have.
And this will allow me a little more freedom and time to focus on growth initiatives for the business.
So, going back to the way you framed your question, yes, it should provide me a little bit more freedom to spend time looking at how we reinvigorate the growth opportunities for the business.
So that can include acquisition growth but it also will include organic growth opportunities for the business.
Yes.
And we did not put a firm number around it because it has a lot to do with how we get there.
But, yes.
That would be a nice place to end up.
As we exit the 2020 year, it would be nice to be looking at it and be having about a third of the business having a, I will call it a dependency, on the dry van segment.
And that has really been driven by an internal look at what our business struggled with back in the last downturn.
And going into the downturn we recognized that we had a significant dependency on the dry van segment.
Nearly 85% of the business was dependent on it.
As I've said many times, that great strength became a great weakness for us as we got into the great recession when demand levels dropped by about 80%.
As you recall, <UNK>, we went from about 60,000 units of demand for our business in 2006 down to 12,000 units in 2009 and that was really driven by the dry van segment.
Less dependency on it.
Obviously we are a much better business today.
Our dry van segment operates much better than it did going into the downturn so we would manage through it more effectively.
Having growth initiatives for the business that would, not walking away, again, I want to emphasize we are not walking away at all from the dry van business, but growing the business in other areas other than dry van can really be helpful to us in the event that we some day in the future face that kind of challenge.
Thank you, <UNK>.
Thank you, Ashley.
So, while much has been done opportunities certainly abound and we will continue to be strategic but selective in pursuing opportunities to grow our business in addition to the organic growth initiatives already underway.
We will continue to seek out ways to increase returns and value for all shareholders while assuring that the proper balance between risk and reward is considered in all decisions.
In closing, we are again on pace to deliver another record year of profitability in 2016 with strong margins, continuing supportive demand environment and continued focus on execution.
Thank you all for your interest and support of Wabash National Corporation.
<UNK>, <UNK>, <UNK> and I all look forward to speaking with you all again on our next call.
Thank you.
