Question-and-Answer Session
Operator
The question and answer session will be conducted electronically. (Operator Instructions) We’ll go first to Justin Yagerman with Wachovia.
Justin Yagerman – Wachovia Capital Markets, LLC
I’ve got a bunch of questions here, couple you answered during your prepared remarks. I was curious, as you continue your expansion given the current environment in the rest of the country not affecting New York real estate, but are you finding real estate easier to come by? You sounded like you want to fill out ten states will full-state coverage, that’s pretty aggressive. Are you finding that it’s a little easier to find terminals given what’s going on in the broader market?
David S. Congdon
Justin, it has not really changed, it’s still struggling in many markets. It hasn’t really changed from what we’ve said in the past.
J. Wes Frye
That’s one reason our cap ex to real estate, Justin, was under what we originally forecasted earlier in the year is just the ability to find the real estate, even finding the lands in constructual state is still an obstacle.
Justin Yagerman – Wachovia Capital Markets, LLC
Do you have any preference when you’re looking out at those expansions as to whether they be organic or through the continued tuck-in acquisitions? And I guess piggybacking on that, would you consider larger-scale acquisitions when looking at the current landscape?
David S. Congdon
I don’t have any real good comments on that. We always keep our eyes peeled for acquisitions and the larger-scale ones have a lot more things to consider and a lot more risk in the equation and we’re not really thinking about real large-scale acquisitions to be honest with you. But we just kind of keep our eyes peeled for both rates of growth.
Justin Yagerman – Wachovia Capital Markets, LLC
On the weight per shipment, obviously that moving up is a positive sign generally for what you’re seeing at least from economic activity. Were there any specific areas where you saw weight per shipment moving up more? Was there any specific vertical where you felt like shipment size was increasing? Can you give a little bit more color around what you were seeing and I guess the progression through the quarter on weight per shipment?
David S. Congdon
We did see more fairly larger gross in our spot quotes which weigh about 9,000 pounds a shipment but the spot quotes still only represent about 2% of our total tonnage or maybe less than 2%, so it wasn’t a material affect on the weight per shipment.
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