Cargo Connection Logistics Holding, Inc. CFO/COO Issues Shareholder Message
Wednesday August 10, 8:00 am ET
INWOOD, N.Y.--(BUSINESS WIRE)--Aug. 10, 2005--Cargo Connection Logistics Holding, Inc. (OTCBB:CRGO - News) today issued the following message to shareholders:
ADVERTISEMENT
Dear Shareholders of Cargo Connection Logistics Holding, Inc.:
Last week you were given the opportunity to hear from our CEO, Jesse Dobrinsky. He thought it would be a good idea for me to introduce myself to our shareholders. My name is Scott Goodman and I am the Chief Financial Officer (CFO) and Chief Operating Officer (COO) of your company.
It is my responsibility to make sure the company functions properly on a day-to-day basis and that we have the ability and resources to realize the vision that our CEO has set before us. I have worked side-by-side with Jesse for the past 10 years. The entire staff and I are working to help realize the vision of growth and prosperity that he has been charting for more than 20 years. It is not just because we believe in that vision, but because we believe that it will be beneficial for the Company and in the end result to you, our shareholders. Today we have begun building upon that dream.
It will also be my responsibility to make sure we are in compliance with all our regulatory reporting to the SEC, deal with our professionals; legal, financial, etc. and to help drive the company toward growth and profitability. One of our first orders of business was to sort out the assets of ChampionLyte Holdings, more specifically the beverage assets. While we have no intention of being in that business, we believe there is value to those assets and we are working to either sell or license all or part of ChampionLyte Beverages. With this decision behind us, we are now able to focus more clearly on our core business, that being transportation and logistics.
Clearly, our team is committed to work long, arduous days as we continue to perfect our network of operations and the necessary chain of command. As we grow, we will continue to work with painstaking effort to ensure that each additional piece of business integrates properly into our systems and fits the model we have put in place to become a leader in the logistics business.
For the purposes of providing each of you with industry related information, it is important to understand that the trucking business is comprised predominantly of independent contractors (usually referred to as owner operators). These independent contractors represent more than 70% of the trucks you see on America's roadways today.
It's no secret that there's an industry shortage of short- and long-haul truck drivers. The shortage is generally attributed to the lack of new talent entering the transportation industry. This shortage is a problem Cargo Connection Logistics is diligently working on to overcome. The greatest challenge is how companies can maintain and grow their driver pool while preventing these independents from switching from one company to another. A better question may be asked as to how to attract and retain these independent contractors, as they are the life blood of our industry. The answer has evaded companies for more than 20 years.
In this regard, our company has come up with a plan that we believe will not only recruit those independent contractors (owner operators), but will afford those drivers and/or owner operators the ability to achieve goals for their own personal success. With our associated partners, we have developed new and innovative programs which will allow Cargo Connection Logistics to grow an owner operator (independent contractor) base, which in turn will provide these independent operators the accessibility to medical insurance, disability insurance, workman's compensation insurance and other benefits that have been unobtainable to them anywhere else in the industry. Such a program will create a greater affinity between Cargo Connection Logistics and our network of owner operators.
We believe this program is so unique that not only will single truck operators begin to seek out Cargo Connection Logistics, but we also expect small fleet operators will also be anxious to join our team. We are very excited about this program and hope to formally unveil it within the next eight weeks.
As Jesse indicated in his message, we at Cargo Connection Logistics pride ourselves on taking a strategic, yet creative, approach to our industry. This affinity program that will soon be instituted is a reflection of that approach.
As promised, we will continue to update you, our stockholders, through news releases and via our website (http://www.cargocon.com). We truly appreciate your continued support and look forward to driving our company into the future.
I, too, want all of our shareholders to know that I will make myself as accessible as humanly possible and welcome your questions and input.
Scott Goodman,
Chief Financial Officer/Chief Operating Officer
Cargo Connection Logistics Holding, Inc.
--------------------------------------------------------------------------------
Contact:
For Cargo Connection Logistics Holding, Inc., Inwood
Peter Nasca, 305-937-1711
pnasca@pnapr.com |
