Most attention is focused on bigger companies or smaller firms in more glamorous industries, like high technology, he said. Expect trucking stocks to continue moving with the market, generally with a little bit of a delay, he said. The harder hit taken by LTL carriers probably is an indication that they are more economically sensitive than truckload haulers, he said. If what has happened with the Asian economies has some effect on the U.S. economy and, over time, slows our growth rate, it would tend to affect the LTL carriers more than the truckload carriers. For trucking, the future still looks bright because the domestic economy shows remarkable strength, according to Mr. Guthrie.
Business continues to be very, very strong.
I don't see anything fundamentally wrong with the U.S. economy. While the Asian slowdown may have some effect on certain sectors of the U.S. economy and that may ripple through, I think the effect will be fairly minor overall. At this point, we continue to look for a good U.S. economy next year, with continuing low inflation rates. If that comes to pass, I think trucking stocks will continue to do well. The only threat is the possibility that carrier management may overreact and add too much equipment and capacity to the industry, particularly in reaction to the enormous opportunities resulting from the rail crisis in the West.