RT Nick Szabo (@NickSzabo4)@honestpollster The gap starts with the Immigration Act of 1965. Immigration, outsourcing, trade deficits -- cheap foreign labor one way or another substituting for American labor, driving down the wages paid to American workers. ...

RT Rocky Tolt (@RockyTolt)@DRahnis @WokeCapital I work in a Fortune 200. Almost no internships or entry level corporate jobs are open. The few departments like A/P that are entry level for new accounting grads have been outsourced to India.We hire H1B instead. And outsource. It’s really bad. ...

Financial Performance - Net sales increased by 6.6% year-over-year, while organic net sales decreased by 9.1% to $123.1 million[6] - Adjusted EBITDA decreased year-over-year to $14.1 million, resulting in an adjusted EBITDA margin of 9.8%[6] - Free Cash Flow decreased year-over-year to ($1.1) million[6] - Adjusted Diluted EPS was $0.10[6] Strategic Initiatives and Outlook - The company maintained its 2025 financial guidance[8] - Accu-Fab integration is proceeding as planned, with expected completion by year-end 2025[8] - Increased 2026 Accu-Fab revenue synergies are projected to be $20 to $30 million, as the Data Center & Critical Power pipeline exceeds $100 million[8] End-Market Outlook - Commercial Vehicle market sales are expected to decline by 16%-26% in 2025[13] - Data Center & Critical Power is expected to grow by 12%-14% in 2025[18] - Accu-Fab acquisition is expected to add $32 - $36 million in net sales to the Data Center & Critical Power end market in 2H25[22] Capital Allocation - Net leverage ratio was 3.5x as of September 30, 2025, with a target of 3.0x or lower by the end of 2026[6, 32] - The company is prioritizing $7 – $10 million of investment in equipment and automation to meet high-growth Data Center & Critical Power demand over the next 18 months[28]

Can you imagine a world without audio visual art? No. Going to the theater to watch a movie or flipping on TV to watch a cartoon. It doesn't sound good, does it? Film and television play a significant role in people's lives. But given the large crew sizes these pieces of art tend to have, people normally don't pay much attention to the workers behind the scenes. Be honest. When was the last time you read all of the credits at the end of the movie? It's okay if you haven't. This isn't something people normal ...

[Music] There was a beautiful country. It was a land of fortune. It held a third of the world's wealth.Let's call this country you. Over time, you outsourced its core strengths, the brain work and the brun work. All of it.It sent them to two neighboring countries. Let's call them I and C. A few decades passed.Due to outsourcing, the muscles softened. The mind dulled. One day you woke up and said, "Let's build our mind and muscles again. We will be great again." Will country you succeed.It's a million-dollar ...

Financial Data and Key Metrics Changes - The company reported operating revenue of $2.6 billion in Q3 2025, up 1% from the prior year, primarily due to contractual revenue growth in Supply Chain Solutions (SCS) and Fleet Management Solutions (FMS) [12] - Comparable EPS from continuing operations increased to $3.57, up 4% from $3.44 in the prior year, reflecting higher contractual earnings and benefits from share repurchases [13] - Return on equity (ROE) was 17%, up from the prior year, driven by higher contractual earnings and share repurchases, partially offset by lower rental demand and used vehicle sales [13] - Year-to-date free cash flow increased to $496 million from $218 million in the prior year due to reduced capital expenditures and lower income tax payments [13] Business Line Data and Key Metrics Changes - Fleet Management Solutions operating revenue was in line with the prior year, with pre-tax earnings of $146 million, reflecting higher ChoiceLease performance but lower used vehicle sales and rental results [14] - Supply Chain operating revenue increased by 4%, driven by new business in omnichannel retail, although earnings decreased by 8% due to e-commerce network performance and higher medical costs [16] - Dedicated operating revenue decreased by 6% due to lower fleet count, but earnings before tax (EBT) remained in line with the prior year, reflecting acquisition synergies [17] Market Data and Key Metrics Changes - The company expects 60% of 2025 revenue to come from asset-light businesses, up from 44% in 2018, indicating a shift in revenue mix towards supply chain and dedicated services [10] - The company anticipates a free cash flow forecast of $900 million to $1 billion for 2025, reflecting lower year-over-year capital spending [9][23] Company Strategy and Development Direction - The company remains focused on creating value through operational excellence and investment in customer-centric technology, aiming for earnings growth driven by resilient contractual businesses and strategic initiatives [6] - A new discretionary share repurchase program was authorized, reflecting the company's commitment to disciplined capital allocation [8] - The company expects to realize approximately $100 million in benefits from strategic initiatives by year-end 2025, benefiting all three business segments [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to outperform prior cycles, citing a strong performance from the transformed business model and the execution of the balanced growth strategy [11] - The company anticipates continued earnings growth in 2025, driven by contractual earnings and strategic initiatives, despite headwinds from the freight market [22] - Management noted that the prolonged freight downturn and economic uncertainty are causing some customers to delay decisions, but robust sales and pipeline activity in SCS are encouraging [22][26] Other Important Information - The company has repurchased approximately 22% of its shares outstanding since 2021 and increased the quarterly dividend by 57% [8] - The company expects to generate approximately $10.5 billion from operating cash flow and used vehicle sales proceeds over a three-year period, creating $3.5 billion of incremental debt capacity [20] Q&A Session Summary Question: Impact of CDL regulations on the business model - Management indicated that tighter driver markets could benefit the dedicated business as companies seek help in driver recruitment, with minimal impact expected on the lease side [30][31] Question: Drivers of earnings growth for 2026 - Management expects contractual earnings growth and benefits from strategic initiatives to drive earnings growth, with strong performance anticipated in supply chain solutions [33][34] Question: Used vehicle pricing and tariffs - Management noted uncertainty regarding the impact of truck tariffs on pricing but suggested that higher new truck prices could eventually benefit used truck values [41][42] Question: Supply chain performance and headwinds - Management acknowledged temporary headwinds in supply chain performance due to higher medical costs and lower e-commerce volumes but remains optimistic about future growth [52][53] Question: SelectCare performance volatility - Management views the recent lower activity in SelectCare as temporary, expecting a return to normal levels in the fourth quarter [57] Question: Non-domicile CDL role and timing of impacts - Management indicated that the impact of CDL regulations would unfold over time, with expectations of increased demand for dedicated services as the driver market tightens [62]

RT Michael A. Arouet (@MichaelAArouet)Just in 2009 the US manufactured more than China, now China manufactures twice as much as the US.One simply cannot outsource critical products to a rival. Trump is right with his tariffs approach. https://t.co/PzK2hd4UL9 ...

Whereas drug gangs used to be vertically integrated, with a single kingpin supervising production, transport and distribution, they now rely heavily on outsourcing. This has fuelled specialisation and innovation https://t.co/q3PCHEp0Oe ...

Forget Pablo Escobar. Big brand-name gangs often own the drugs, but they operate only one part of the chain. This distributed and outsourced model is adaptive and resilient https://t.co/VRBEssbQpu ...

RT Michael A. Arouet (@MichaelAArouet)That’s exactly the problem, we outsourced the dirty job to China, because we want to claim that we care for the environment.Now China can basically switch off the lights at our factories if they want to. How can one be so naive and grossly irresponsible? ...