Con-way

{{Infobox company | company_name = Con-way, Inc.

| company_logo =

| company_type = Public Company | traded_as = NYSE: CNW | foundation = Portland, Oregon (1929)
as Consolidated Truck Lines | location = Ann Arbor, Michigan | key_people = Leland James (Founder)
Douglas W. Stotlar (President & CEO) | industry = Transportation, distribution | products = Less than truckload shipping
Full truckload freight
Warehousing
Logistics services
Supply-chain management | revenue = {{nowrap| US$ 5.29 billion (2011) | operating_income = {{nowrap| US$ 207.9 million (2011) | net_income = US$ 88.4 million (2011) Con-way, Inc. (NYSE: CNW) is a $5.29 billion freight transportation and logistics services company headquartered in Ann Arbor, Mich. Con-way delivers industry-leading services through its primary operating companies of Con-way Freight, Con-way Truckload and Menlo Worldwide. These operating units provide high-performance, day-definite less-than-truckload (LTL), full truckload and multimodal freight transportation, as well as logistics, warehousing and supply chain management services. Con-way also operates Road Systems Inc., a trailer refurbishing and manufacturing company which supplies trailing equipment to the company’s trucking fleets. Con-way Inc. and its subsidiaries operate from more than 500 locations across North America and in 20 countries.

The company changed its name from CNF, Inc. on 18 April 2006. The initials CNF were the company's previous NYSE stock ticket symbol. Con-way's new symbol is "CNW."

History

Con-way traces its heritage to Leland James, who in 1929 founded a small regional trucking company in Portland, Oregon. James, the son of a river pilot, had been successful operating a large retail tire business and later a private inter-city bus company in Portland. Believing that he could find more profits moving freight instead of people, he sold his previous businesses and acquired several local freight companies, and on April 1, 1929, combined them to form Consolidated Truck Lines. Unlike most trucking concerns of the day, CF began as a company rooted in the western United States, and expanded east. In 1939, the corporate name of the company was officially changed to Consolidated Freightways, Inc. By the 1990s, the company moved into other markets, starting Menlo Worldwide Logistics and acquiring Emery World Airlines. Consolidated Freightways (CF), a union shop, was spun off in 1996 to a standalone entity and CNF, Inc. was formed to hold Menlo, Emery, and a new less than truckload non-union firm named Con-Way. Consolidated Freightways operated for several years but ultimately filed for bankruptcy, ceasing operations on Labor Day, September 2, 2002.

Emery World Airlines had a tumultuous history. After the acquisition of Purolator and a United States Postal Service contract dispute, EWA suffered two maintenance-related crashes in the 1990s and was grounded by the Federal Aviation Administration. In December 2004, CNF sold Emery (rechristened Menlo Forwarding) to UPS for $100 million in cash and $260 million in assumed debt.

Con-way's LTL service is now called Con-way Freight; other components are Menlo Worldwide Logistics, Con-way Truckload, Con-way Mexico, Con-way Multimodal (formerly Con-way Truckload Services), and Con-way Freight-Canada.

Con-way recently acquired Contract Freighters, Inc. (CFI), a privately held North American truckload carrier based in Joplin, Missouri, in a transaction valued at $750 million. Founded in 1951, CFI operates over 2,600 tractors and more than 7,000 trailers, with more than 3,000 employees including approximately 2,500 drivers that serve customers throughout North America.

Comments

In December 2011, the non-partisan organization Public Campaign criticized Con-Way for spending $2.29 million on lobbying and not paying any taxes during 2008-2010, instead getting $26 million in tax rebates, despite making a profit of $286 million and increasing executive pay by 11%.

External links

Con-way, Inc. Website
Inc Facebook Page
Inc. Twitter
Inc. LinkedIn Company Page
Inc. YouTube Channel