Question-and-Answer Session
Operator
(Operator Instructions). Your first question comes from the line of Jonathan Chappell of JPMorgan.
Jonathan Chappell - JPMorgan Securities, Inc.
Thank you. Good morning, everybody.
Unidentified Analyst
Good morning.
Jonathan Chappell - JPMorgan Securities, Inc.
Chuck, my question has to do with potential opportunities, and how you're going to balance capital allocation this year. Now obviously, on one hand it's good to be liquid, and I'm sure paying down debt is probably a primary usage of cash right now. But I'd also think on the other hand, primarily in logistic side, both you and Brian painted a very optimistic picture longer term for that business. There is got to be smaller logistics companies that owners will capitalize as Horizon Lines is in 2009, may present an opportunity to attack on some eventual accretive acquisitions. How are you thinking about taking opportunities that time rate still good to kind of play it safe?
Charles Raymond
Well, Jonathan everything you say is right. However, with the economic uncertainty that we are in right now, just the real question about whether this is going to be a kind of a W type of recession or is it kind of the peak V and how long it's going to last, those are really kind of scary things. And I think that what we're going to do is sit on a side lines in terms of acquisitions until we really see these things play out.
That being said, we're always studying the sector and look towards the opportunities may be. So if things improve quickly, that could be an option for us. But we'd have to be very sure of the accretive nature of those acquisitions. And we'll keep them on our radar screens. But I won't expect that we'll make it.
Unidentified Analyst
Jon, just interest to add to that, we clearly have built our strategy for '09, and even going into 2010, surely based on organic growth. And as Chuck mentions, really acquisitions are not playing a role in that at the moment.
Jonathan Chappell - JPMorgan Securities, Inc.
Got it. My other question has to do with two of the initiatives that have been spoken a lot over the years, both TP1 and EDGE, and just a little update on the developments of those and the expected savings, Mike did give us on page 42 the EDGE savings and it looks like that's going to fall short of the '09 guidance. Just want to make sure the original '09 guidance. I'm making sure of that. And then obviously, with the way that the international containership market has been developing, what are the thoughts on TP1, it was originally supposed to breakeven in 2009, is that pushed out to 2010 based on the economy?
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