In This Episode
Today Brent Nussbaum sat down with Bill Wettstein for a fireside chat and catch-up on company updates and news.
Episode Summary
Business Updates
- 10% growth this year
- Profit margins up (mostly on dedicated).
- Rates are high
- 210 dedicated drivers running (up 30)
- Rivian & Uline booms
- Discount Tire (Chicago & Dallas)
- Open deck up 10 drivers (35 total)
- March/April started being profitable this year!
Next Year
- We purchased 75 trucks
- We have capacity to go from 590 to 615 drivers with our current fleet size
- The red sea has parted! (most trucks are moving and not sitting)
- Want to expand open deck even more
- Goal: 50 open deck drivers by next year
- Goal: Grow to 615 total drivers
Juggling growth and support
- “To grow we need scalable systems, support staff, and humility at the top”
- We are looking to add more techs
- We need room to park trucks and trailers and enough desks for support staff.
- Discussion on potential Southeast office/shop: Not happening currently but there is interest
Equipment purchase
- Over 200 vans added (more to come)
- Stoughton trailers are coming and some Wabash and some others
BidRight Update
- 1 year in and 13 signed customers to date
- Goal: transition to early access to full paid SaaS
- Q1 2027 we will be profitable
ESOP Transaction
- Working towards 100% employee owned– Q1 or Q2 or year end (depending on operating ratio)
- Expected sub 90 OR by March next year
- Why? The market is strong now.
Bill Wettstein Stepping into CEO Role
- Brent stepping into executive chairman role
- As of Jan 1, 2027, Bill Wettstein will step in as CEO (taking over Brent’s office)
- What will Brent be doing? Brent will transition to executive chairman for the In Motion Group (the company that owns Nussbaum).
- Role: oversee board of directors (In Motion Group Inc.), ITA board member, TCA board member, American Truckload Association board, consulting with Marketing, consult on equipment purchasing, property, and working with our benevolence partners.
- Brent will be visible but not day to day
- “If you take care of your people, the rest will take care of itself” was re-emphasized by Bill.
- This has been a discussion in the works for awhile
