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Transport Corporation Of America, Inc. Business Information, Profile, and History

1715 Yankee Doodle Road
Eagan, Minnesota 55121
U.S.A.

Company Perspectives:

[Our mission is to] become the most successful provider of the highest quality transportation and logistic services in North America. Our success will be measured by our ability to make all of our customers successful.

For those who trust us with their products, we will supply services that surpass their expectations and those of their customers.

For those who perform the work, we will provide a work environment that exceeds their needs and those of their families.

For those who invest their future in us, we will maintain a superior level of financial performance and strength.

History of Transport Corporation Of America, Inc.

Transport America, legally named Transport Corporation of America, Inc., is a trucking firm headquartered in Eagan, Minnesota, with a fleet of some 2,200 cabs, or "tractors," pulling nearly 6,000 trailers throughout the United States and Canada. Transport America's trucking routes are primarily in the Midwest, East, and Southeast. Transport America offers customers a wide range of transportation services for cargo requiring various shipment distances. The company has a strong commitment to customer service, providing detailed and customized "logistics" services to help clients manage their inventory traffic. Transport America has the capability of offering "time-definite" pick-up and delivery to support a growing industry trend of "just-in-time" delivery, designed to reduce warehouse and inventory management. Transport America has regional and local operations that offer line haul (from point A to point B), loading and unloading capabilities and multiple stops, temperature-controlled trailers, trailers to support decking, satellite monitored transport, electronic data interchange, load optimization, and information technology services. The company can even coordinate transportation details with third-party transportation providers. Transport America primarily moves freight in retailing, manufacturing, consumer goods, and recreational products. The company's primary customers include Sears, General Mills, Dupont, S.C. Johnson and Sons, Target, 3M, Federal Express, and Ford Motor Company.

1980s: Founding and Early Growth

Founder James Aronson founded Transport Corporation of America in 1984. Aronson had been a driver and held management positions with Overland Express, Inc. The company espoused a strong commitment to high-quality customer service. Aronson was a hands-on manager, focusing on marketing and operations. He was known for his excellent rapport with customers and commitment to timely deliveries. In Transport America's first full year of operation in 1985, it recorded $15 million in revenues.

Early on, Transport America was seen as a technological leader in the industry. By the late 1980s the company was testing the use of technology to maximize efficiency and reliability in the trucking industry. For Aronson, use of technology offered one more avenue for enhancing customer service. In 1988, the company implemented an automated interactive voice-response system that interfaced with the computer to allow drivers to communicate locations by phone. Soon after, Transport America was using satellite tracking to trace freight movement and share information with drivers via two-way information exchange. The company gradually expanded the size of its fleet and service centers and established small service centers in various locations. By 1993 Transport America's expanding fleet pushed the company to purchase a new, larger headquarters building in Eagan.

1994-98: Going Public and Financial Growth

In 1994 Transport America went public as the Transport Corporation of America, Inc. The company's initial public offering raised $14.5 million. The infusion of revenue helped the company keep abreast of the competition in an industry that relied heavily on capital resources to routinely replace $150,000 trucks every 46-60 months.

The first quarter of 1995 showed Transport America with noticeably improved earnings. The most impressive statistic was the ratio of operating expenses to operating revenue from 96.9 percent in the previous year's first quarter to 93.4 percent the current first quarter. While many competitors had experienced lower demand in the transportation business, Transport America credited their gains to increased freight activity from current customers. By June 1995, the company's operating revenue grew some 12.5 percent, gains due again to growing business from existing customers. The company's operating efficiency (the ratio of expenses to revenue) had improved from 5.1 percent to 7.4 percent in one year.

In the first quarter of 1996 the company recorded double-digit growth in revenue. This good news was dampened by other factors that hurt profit margins: Winter storms and very low temperatures caused reduced utilization of equipment. Rising fuel costs also contributed to increased costs of truck operations. Second quarter growth was even more promising--an 18 percent rise in operating revenue. Growth continued in the remaining two quarters that year. Transport America continued to resist declining business trends in the transportation industry through 1996. Another promising statistic was that the ratio of operating expenses to revenue for the year was down from previous years--91.2 percent, compared with 92.3 percent in 1994. The company reported revenues of $164.7 million and a net income of $6.3 million.

By 1997 the fleet had grown to 1,350 tractors and 3,500 trailers, operating out of ten service centers. In January the Transport America board of directors approved a stock repurchase program allowing repurchase of up to 350,000 shares of common stock. In addition, the board initiated a shareholder rights plan to ensure fair and equal treatment for all shareholders in case of a bid by another party or shareholder to take over the company. At the time there was no indication that anyone was considering taking control of the company.

Transport America also created Transport International Express (TIE), as a new wholly owned subsidiary. TIE was designed to transport goods between major cities by land that had previously most often been shipped by air even though they did not require next-day delivery. TIE would coordinate expedited and time-specific service for moving products that did not have to constitute an entire truckload. Companies could spend a fraction of the cost to have cargo hauled by truck and would enlist the customized logistics services of Transport America to coordinate with the airlines and other freight companies to meet their needs.

The company continued to grow along with the economy. CEO Aronson led concerted efforts to improve driver retention and use of company assets. Aronson became chairman of the board, and Robert Meyers stepped up as president and chief operating officer. Meyers had been executive vice-president since 1994 and chief financial officer since 1993. With a background in technology and accounting, Meyers was credited with implementing the company's state-of-the-art information system.

1997: Local and National Recognition

In August 1997 CEO James Aronson was recognized by Twin Cities Business Monthly magazine as one of a small number of Minnesota entrepreneurs of the year. He was recognized in the area of service. The magazine commended Aronson's leadership of the company and his commitment to cutting-edge technology in the transportation industry with global positioning systems installed in his entire fleet, at a price tag of more than $4,000 per vehicle. The computerized tracking system, or global positioning system, enabled customers to determine the locations of their shipments at any given time, within 25 yards anywhere in the country. Transport's trucking technology made it possible to transfer information about driving routes and freight details from company headquarters directly to drivers on the road. In addition, the truck's computer system could diagnose mechanical problems and inform the driver and headquarters.

The magazine also noted the transportation software Transport America had created and tailored specifically for its business to help coordinate schedules and assure timeliness of services. Aronson's successful practice of being very knowledgeable about the business of his customers was also applauded. The company's intimate knowledge of its customers' businesses assisted it in managing supply chains, specifically to better implement "just-in-time delivery" to simplify inventory coordination and reduce warehousing costs. At the time, Transport America recorded an on-time arrival rate of more than 98 percent, an important indicator of company success given the growing popularity of "just-in-time" deliveries.

Aronson was credited with "putting a new face on an old industry" through new transportation technologies. The magazine quoted Aronson as saying, "The thing we've got to realize is trucks are only there to support business and industry. We don't just drive around. When you go to the grocery store or anywhere else and buy something, there's no doubt that a truck brought it there."

Aronson moved Transport America beyond the typical realm of trucking business by implementing the "Trucker Buddy Program" to educate young people about the business. Transport America drivers from several areas of the country partnered with elementary school classes and visited frequently to update young schoolchildren about their profession. The program also included field trips to service centers so kids could learn about the trucks firsthand. The company also had a comprehensive training and certification program for drivers that helped increase the number of company-owned tractors at a time when the industry had a driver shortage.

Transport America gained additional recognition, this time nationally, in November 1997 when it made Forbes magazine's list of the 200 Best Small Companies in the United States. The magazine ranked Transport America number 170, based on a 16.2 percent five-year average return on equity.

By 1998 Transport America's fleet had grown to 2,000 tractors and 5,000 trailers. In February of that year Transport America acquired a local, privately held company called North Star Transport Inc. The purchase was for a cash and stock combination valued at approximately $34 million. The acquisition was a good fit because North Star was an operation similar to that of Transport America, focusing on using experienced and highly qualified drivers. North Star had a fleet of 625 owner-operated vehicles, employed about 100, and posted annual revenues of $75 million. Company leaders said North Star would help them better serve the needs of a greater variety of clients and become more competitive in the industry.

The company's major customer, Sears, named Transport America a Sears Partners in Progress Award winner for 1998. In addition, strong business and the purchase of North Star helped Transport America achieve high growth and record profits in 1998. Late that year the company announced plans to develop a new 123,000-square-foot corporate headquarters at a nearby Eagan location. Because of plans for further growth and because the acquisition of North Star added some 30 percent to the operation, Transport America wanted to consolidate its business sites to one location.

1999-2001: A Weaker Market

In January 1999 Transport America sold Transport International Express because the subsidiary had not met company performance expectations. Transport America sold the assets and operations of TIE to Express America Inc. and maintained some ownership interest, but was not a controlling shareholder.

Later that year Transport America expanded its fleet further with the purchase of privately held Robert Hansen Trucking Inc., a $24 million operation based in Delavan, Wisconsin. The deal to acquire, through cash, stock, and assumption of debt, was completed in May. Robert Hansen Trucking had 200 company trucks, primarily serving the eastern market. Transport America reportedly acquired the firm for approximately $2.2 million in cash, 350,000 shares of Transport America stock, and a $16 million debt assumption.

Unlike recent years, Transport America experienced some financial difficulties in 1999, with earnings falling below expectations in the last quarter. Sadly, late that year Transport America founder James Aronson died of cancer at the age of 61. Robert Meyers was elected chief executive officer.

Around the same time, Transport America formed a wholly owned subsidiary, Transport America Logistics, or TA Logistics. TA Logistics was designed to provide transportation procurement and logistics services, basically assuming management of all the details of a customer's shipping traffic needs. Operations of the company began in 2000. The subsidiary was selected to partner in the development and operation of a Logistics Management Center for Polaris Industries.

Early in 2000 Transport America began discussions about a merger agreement with a wholly owned subsidiary of USFreightways Corporation. It would be a stock-for-stock transaction with a value of $149 million. CEO Meyers described the marriage of the two companies as a positive one, noting Transport America's leadership in services and dedicated truckload transportation, and Freightways' leadership in the areas of logistics, supply-chain coordination, and less-than-truckload regional operations. In February, however, by mutual agreement of both companies' boards, the deal between Freightways and Transport was dissolved. The purchase would have resulted in Freightways' trucking arm becoming one of the top ten publicly traded truckload carriers.

When the deal collapsed, Transport America's stock price fell. Soon after, the company announced plans to repurchase stock under the existing share repurchase plan. The company faced additional challenges in 2000 with driver retention and rising fuel costs. Profits also were impacted because a key customer temporarily decreased operations. Despite these problems, tractor productivity increased from the previous quarter and year, and the number of empty miles that were nonrevenue-producing was reduced.

In 2001 Transport America experienced declining revenues due to continuing weak economic conditions and a reduced number of shipments by primary customers in manufacturing, automotive, industrial, and retail. The company also was affected by less cargo movement in general in its primary geographic service areas. Reports for 2001 reflected a softer demand for freight movement, more empty miles, and fewer fuel surcharge dollars.

Transport America's third quarter operating ratio in 2001 was 96.3 percent, compared with 93.1 percent for the same quarter the previous year. Third quarter net earnings were $478,000 (0.7 percent of operating revenues), compared with $1.6 million (2.2 percent of operating revenues) for the same quarter in 2000. A sluggish economy reduced demand for Transport America's services by its primary customers.

2001: New Leadership and Technology Offshoot

Late in 2001 Transport America announced changes in its management team, naming Michael Paxton as president and chief executive officer. Paxton had served on the Transport America Board for more than six years. He was also president and CEO of Sunbeam Health and Safety Company. Robert Meyers was appointed president and CEO of a Transport America offshoot, Techgistics, a separate technology arm through which the company intended to pursue advancements in transportation technology. The company planned to enhance and market its internally designed and customized trucking software package through Techgistics.

Transport America's 2,200 tractors and nearly 6,000 trailers operated out of the Minnesota headquarters as well as service centers and terminals in Indiana, Wisconsin, Ohio, Iowa, Missouri, Texas, South Carolina, Georgia, and Pennsylvania. Its customer list in the early 21st century included many who relied on pickup and delivery of goods carried out in a narrow time frame. Its clients included Hon Company, P.P.G. Industries, Polaris Industries, Toys-R-Us, Wal-Mart, Sears, General Mills, Dupont, S.C. Johnson, Target, 3M, Federal Express, and Ford Motor Company.

A big part of the company's success continued to derive from its reputation for providing 100 percent on-time pickup and delivery within narrowly defined time frames, using minimal transit time, and conscientiously handling freight traffic details for customers. Transport America's biggest challenge in the early 21st century appeared to be maintaining its competitive edge against companies with greater financial resources, more equipment, and more hauling capability, not only other trucking firms, but also rail and air freight rivals.

Principal Subsidiaries: TA Logistics; Techgistics.

Principal Competitors: Covenant Transport; U.S. Xpress; Werner.

Related information about Transport

Otheruses

Transport or transportation is the movement of people and goods from one place to another.

Aspects of transport

The field of transport has several aspects: loosely they can be divided into a triad of infrastructure, vehicles, and operations. Infrastructure includes the transport networks (roads, railways, airways, waterways, canals, pipelines, etc.) that are used, as well as the nodes or terminals (such as airports, railway stations, bus stations and seaports). The vehicles generally ride on the networks, such as automobiles, bicycles, buses, trains, airplanes. The operations deal with the control of the system, such as traffic signals and ramp meters, railroad switches, air traffic control, etc, as well as policies, such as how to finance the system (for example, the use of tolls or gasoline taxes).

Broadly speaking, the design of networks are the domain of civil engineering and urban planning, the design of vehicles of mechanical engineering and specialized subfields such as nautical engineering and aerospace engineering, and the operations are usually specialized, though might appropriately belong to operations research or systems engineering.

Modes and categories


Modes are combinations of networks, vehicles, and operations, and include walking, the road transport system, rail transport, ship transport and modern aviation.

Categories of transport
  • (Non-human) Animal-powered transport
  • Aviation
  • Cable transport
  • Conveyor transport
  • Human-powered transport
  • Hybrid transport
  • New Mobility Agenda
  • Ship transport
  • Space transport
  • Sustainable transportation
  • Transport on other planets
  • Proposed future transport

(Non-human) animal-powered transport is a broad category of the human use of non-human working animals (also known as "beasts of burden") for the movement of people and goods. Humans may ride some of the larger of these animals directly, use them as pack animals for carrying goods, or harness them, singly or in teams, to pull (or haul) sleds or wheeled vehicles.

Vehicle

Vehicles are non-living means of transportation. bicycles, cars, motorcycles, trains, ships, and aircraft), although some other means of transportation which are not made by man can also be called vehicles; A heliplane is both fixed-wing and rotary-wing.



Fixed-wing aircraft include a large range of craft from small trainers and recreational aircraft to large airliners and military cargo aircraft. It also embraces aircraft, such as the General Dynamics F-111, Grumman F-14 Tomcat and the Panavia Tornado, which can vary the sweep angle of their wings during flight. There are also rare examples of aircraft which can vary the angle of incidence of their wings in flight, such the F-8 Crusader, which are also considered to be "fixed-wing".

Two necessities for all fixed-wing aircraft (as well as rotary-wing aircraft) are air flow over the wings for lifting of the aircraft, and an open area for landing. A typical railway (or railroad) track consists of two parallel steel (or in older networks, iron) rails, generally anchored perpendicular to beams (termed sleepers (Commonwealth except Canada) or railroad ties (U.S. and Canada) of timber, concrete, or steel to maintain a consistent distance apart, or gauge. The rails and perpendicular beams are usually then placed on a foundation made of concrete or compressed earth and gravel in a bed of ballast to prevent the track from buckling (bending out of its original configuration) as the ground settles over time beneath and under the weight of the vehicles passing above. These vehicles (referred to, in general, as cars, carriages or wagons) move with much less friction than on rubber tires on a paved road, and the locomotive that pulls the train tends to use energy far more efficiently as a result.

In rail transport, a train consists of rail vehicles that move along guides to transport freight or passengers from one place to another. The guideway (permanent way) usually consists of conventional rail tracks, but might also be monorail or maglev. Propulsion for the train is provided by a separate locomotive, or from individual motors in self-propelled multiple units. Most trains are powered by diesel engines or by electricity supplied by trackside systems. Historically the steam engine was the dominant form of locomotive power through the mid-20th century, but other sources of power (such as horses, rope (or wire), gravity, pneumatics, or gas turbines) are possible.

Road transport

Automobile

An automobile is a wheeled passenger vehicle that carries its own motor. Different types of automobiles include cars, buses, trucks, and vans. in English as, "carr"?derived from similar words in French and much earlier Greek words?for a vehicle that moves, especially on wheels, that was applied to chariots, small carts, and later?to carriages that carried more people and larger loads. As of 2002 there were 590 million passenger cars worldwide (roughly one car for every ten people), of which 140 million in the U.S. (roughly one car for every two people) www.sasi.group.shef.ac.uk/worldmapper/display.php?selected=31.

The automobile was thought of as an environmental improvement over horses when it was first introduced in the 1880s. Before its introduction, in New York City alone, more than 1,800 tons of manure had to be removed from the streets daily, although the manure was used as natural fertilizer for crops and to build top soil. In 2006, the automobile is recognized as one of the primary sources of world-wide air pollution and a cause of substantial noise pollution and adverse health effects.

See also
  • Bus
  • Road train
  • Semi-trailer truck
  • Truck
  • Limousine
  • Taxicab
  • Share taxi
  • Carpooling
Bicycle

A bicycle, or bike, is a pedal-driven human-powered vehicle with two wheels attached to a frame, one behind the other. There are about a billion bicycles in the world. Retrieved 30 July 2006. bicycles provide the principal means of transportation in many regions and a popular form of recreational transport in others. The basic shape and configuration of the frame, wheels, pedals, saddle and handlebars has hardly changed since the first chain-driven model was developed around 1885, although many important detail improvements have been made since, especially in recent years using modern materials and computer-aided design.

Water transport

Watercraft

A watercraft is a vehicle designed to float on and move across (or through) water for pleasure, physical exercise (in the case of many small boats), transporting people and/or goods, or military missions.

The common need for buoyancy unites all watercraft, and makes each one's hull a dominant aspect of its construction, maintenance, and appearance.

Most watercraft would be described as either ships or boats;

  • A rule of thumb says "a boat can fit on a ship, but a ship can't fit on a boat", and a ship usually has sufficient size to carry its own boats, such as lifeboats, dinghies, or runabouts.
  • Often local law and regulation will define the exact size (or the number of masts) that distinguishes a ship from boats. However, neither fishing boats nor ferries are considered ships, though both carry cargo (their catch of the day or passengers) (and for that matter lifeboats).

    English seldom uses the term "watercraft" to describe any specific individual object (and probably then only as an affectation): rather the term serves to unify the category that ranges from small boats to the largest ships, and also includes the diverse watercraft for which some term even more specific than ship or boat (e.g., canoe, kayak, raft, barge, jet ski) comes to mind first. by barge, boat, ship or sailboat over a sea, ocean, lake, canal or river. This is frequently undertaken for purposes of commerce, recreation or military objectives.

    A hybrid of ship transport and road transport is the historic horse-drawn boat. Hybrids of ship transport and air transport are kite surfing and parasailing.

    The first craft were probably types of canoes cut out from tree trunks. The colonization of Australia by Indigenous Australians provides indirect but conclusive evidence for the latest date for the invention of ocean-going craft; land bridges linked southeast Asia through most of the Malay Archipelago but a strait had to be crossed to arrive at New Guinea, which was then linked to Australia. Ocean-going craft were required for the colonization to happen.

    Early sea transport was accomplished with ships that were either rowed or used the wind for propulsion, and often, in earlier times with smaller vessels, a combination of the two.

    Also there have been horse-powered boats, with horses on the deck providing power nasw.org/users/sperkins/hrsferry.html.

    Ship transport was frequently used as a mechanism for conducting warfare. Military use of the seas and waterways is covered in greater detail under navy.

    In the 1800s the first steam ships were developed, using a steam engine to drive a paddle wheel or propeller to move the ship. Now most ships have an engine using a slightly refined type of petroleum called bunker fuel. Some specialized ships, such as submarines, use nuclear power to produce the steam.

    Recreational or educational craft still use wind power, while some smaller craft use internal combustion engines to drive one or more propellers, or in the case of jet boats, an inboard water jet. In shallow draft areas, such as the Everglades, some craft, such as the hovercraft, are propelled by large pusher-prop fans. Transport by water is significantly less costly than transport by air for trans-continental shipping.

    In the context of sea transport, a road is an anchorage.

    See also
    • Water taxi

    Transport and communications

    Transport and communication are both substitutes and complements. The range of densities from about two up to about four is not well served by conventional public or private transport. This leads to a situation where environmental, economic, public health, social and quality of life considerations and constraints become at least equi-important to pure mobility objectives and requirements.

    Traditionally, however, urban transport analysis, policies and the investments that follow have been lead by professional transport planners and traffic experts, who have by and large made use of the same forecasting and response tools that they have used to good effect in other transport sectors. This is certainly the main battle ground for transport policy in the years immediately ahead.

    You can find more on this topic here in the sections on Sustainable Transportation and the New Mobility Agenda.

    See also

    • Transport engineering

    Transport, energy, and the environment

    Transport is a major use of energy, and transport burns most of the world's petroleum. Hydrocarbon fuels produce carbon dioxide, a greenhouse gas widely thought to be the chief cause of global climate change, and petroleum-powered engines, especially inefficient ones, create air pollution, including nitrous oxides and particulates (soot). Although vehicles in developed countries have been getting cleaner because of environmental regulations, this has been offset by an increase in the number of vehicles and more use of each vehicle.

    Other environmental impacts of transport systems include traffic congestion, toxic runoff from roads and parking lots that can pollute water supplies and aquatic ecosystems, and automobile-oriented urban sprawl, which can consume natural habitat and agricultural lands.

    Low-pollution fuels can reduce pollution. Low pollution fuels may have a reduced carbon content, and thereby contribute less in the way of carbon dioxide emissions, and generally have reduced sulfur, since sulfur exhaust is a cause of acid rain. Other alternative renewable energy sources such as biodiesel are being researched heavily.

    Another strategy is to make vehicles more efficient, which reduces pollution and waste by reducing the energy use. Electric vehicles use efficient electric motors, but their range is limited by either the extent of the electric transmission system or by the storage capacity of batteries. Battery electric vehicles store their electric fuel onboard in a battery pack. Another method is to generate energy using fuel cells, which may eventually be two to five times as efficient as the internal combustion engines currently used in most vehicles. In internal combustion automobiles and buses, regenerative braking is not possible, unless electric vehicle components are also a part of the powertrain, these are called hybrid electric vehicles.

    Shifting travel from automobiles to well-utilized public transport can reduce energy consumption and traffic congestion.

    Walking and bicycling instead of traveling by motorized means also reduces the consumption of fossil fuels. While the use of these two modes generally declines as a given area becomes wealthier, there are some countries (including Denmark, Netherlands, Japan and parts of Germany, Finland and Belgium) where bicycling comprises a significant share of trips. Some cities with particularly high modal shares of cycling are Oulu (25%), Copenhagen (33%) and Groningen (50%). A number of other cities, including London, Paris, New York, Sydney, Bogot叩, Chicago and San Francisco are creating networks of bicycle lanes and bicycle paths, but the value of such devices for utility cycling is highly controversial. In most countries (not in France and Spain) one can see now how laboratories are brought into PPP-operation, where industry takes over part of the share.

    Some major research centres in Europe:

    • Transport Research Laboratory TRL UK



    USA:

    • National Transportation Research Center



    The European Commission supports the co-operation and collaboration amongst the transport laboratories by funding projects like EXTR@Web and Intransnet. Another EU-project etra.ccis coping with those problems.

    See also



    • Cargo
    • List of transport topics
    • Transportation reference tables
    • Transport forecasting
    • Historic transport
    • Megaprojects
    • Cost overrun
    • Shipping
    • Taxicab
    • Share taxi
    • Transport engineering
    • Public transport

    Notes



    References



    Commercial item transport and distribution
    Transportation

Chronology

  • Key Dates:
  • 1984: Transport Corporation of America begins operations.
  • 1990: Satellite tracing is implemented.
  • 1994: The initial public offering raises $14.5 million.
  • 1997: Transport International Express is established; the company is ranked 179 on Forbes magazine's list of the top 200 small U.S. businesses; CEO James Aronson is recognized as a local "Entrepreneur of the Year"; Aronson becomes chairman of the board and Robert Meyers becomes president.
  • 1998: Company purchases North Star Transport Inc.
  • 1999: Company acquires Robert Hansen Trucking; founder James Aronson dies of cancer at age 61.
  • 2000: Company agrees to be acquired by USFreightways, but the deal is canceled.
  • 2001: Michael Paxton is named president and CEO; Robert Meyers heads offshoot Techgistics.

Additional topics

Company HistoryShipping & Expediting

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