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On that note, now's a good time to remind everybody that while the economy may be experience a small industrial recession, that doesnt mean that we are experiencing a consumer recession. Keep in mind that here at Swift, our revenue base is strongly aligned with consumers. Roughly 80% of our revenue is supplied from consumer-oriented end markets.
I had a conversation yesterday with Bob Castillo, the Chief Economist at the American Trucking Association. He said that roughly two thirds of the economy is consumer-based and that all data points are signaling that in 2016 the consumer should be doing pretty well.
Fuel prices are down significantly. I used the expression my wife goes to Costco and used to spend $120 filling up her Suburban and now it only costs her $60. So thats $60 more dollars she can go into Costco and spend.
Secondly, the employment numbers are getting better. Wages are improving, housing data points are improving and all four of these positive data points are affecting consumer spending, which leads to increased sales for our customers, which leads to increase business for Swift.
I want to touch on two other points briefly before we get into Q&A. Cost-cutting initiatives and our share repurchase. I'll start with the potential opportunity on our cost cutting. We believe we have a variety of these initiatives identified through our annual planning process which may yield benefits in 2016.
I had a conversation yesterday with Bob Castillo, the Chief Economist at the American Trucking Association. He said that roughly two thirds of the economy is consumer-based and that all data points are signaling that in 2016 the consumer should be doing pretty well.
Fuel prices are down significantly. I used the expression my wife goes to Costco and used to spend $120 filling up her Suburban and now it only costs her $60. So thats $60 more dollars she can go into Costco and spend.
Secondly, the employment numbers are getting better. Wages are improving, housing data points are improving and all four of these positive data points are affecting consumer spending, which leads to increased sales for our customers, which leads to increase business for Swift.
I want to touch on two other points briefly before we get into Q&A. Cost-cutting initiatives and our share repurchase. I'll start with the potential opportunity on our cost cutting. We believe we have a variety of these initiatives identified through our annual planning process which may yield benefits in 2016.
