Werner Enterprises President and COO Discusses West Coast Port Challenges on CNBC
Werner Enterprises (NASDAQ:WERN) President and COO Derek Leathers appeared on CNBC’s “Fast Money” Monday, Feb. 23, with host Melissa Lee. During the live interview, Leathers discussed the impact of the West Coast port strike and what organizations like Werner can expect from the recent agreement to resume operations at 29 West Coast shipping terminals after nine months of negotiations.
“With 80 vessels roughly up and down the West Coast at anchor or at port, the amount of volume we have to put through the network over the next several weeks is going to be significantly higher than normal activity,” Leathers said.
In addition, he addressed the driver shortage the trucking industry continues to face.
“It’s hard to move the nation’s goods with the amount of trucks that are available,” Leathers said. “As the economy starts to climb back, we have to find a way to attract more drivers into the industry for us to be able to add capacity.”
“Fast Money” is an American financial stock trading talk show hosted by Melissa Lee who anchors a fast-paced discussion with professional Wall Street traders who discuss and debate various investment strategies. The show covers topics such as options trading, commodities and exchange-traded funds.
Werner Enterprises, Inc. was founded in 1956 and is a premier transportation and logistics company, with coverage throughout North America, Asia, Europe, South America, Africa and Australia. Werner maintains its global headquarters in Omaha, Nebraska and maintains offices in the United States, Canada, Mexico, China and Australia. Werner is among the five largest truckload carriers in the United States, with a diversified portfolio of transportation services that includes dedicated van, temperature-controlled and flatbed; medium-to-long-haul, regional and local van; and expedited services. Werner’s Value Added Services portfolio includes freight management, truck brokerage, intermodal and international services. International services are provided through Werner’s domestic and global subsidiary companies and include ocean, air and ground transportation; freight forwarding; and customs brokerage.
Werner Enterprises, Inc.’s common stock trades on the NASDAQ Global Select MarketSM under the symbol “WERN”. For further information about Werner, visit the company’s website at www.werner.com.
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