As you know, every now and then, we like to share reader mail with you. This is one of those times.
From: J
Sent: Tuesday, July 01, 2008 8:04 PM
To: jobs@truckdriver.com
Subject: Great Job!
I just wanted to say you guys are doing a great job and I really enjoy reading your emails. keep it up, we need this kind of information and news, thanks.
Editor: Thank you!
TruckDriver.com
Carrier of the Month
Marten Transport, LTD
Roger Marten founded Marten Transport in 1946 at the age of 17, delivering milk and other dairy products. His routes were primarily in the Modena, Wisconsin area where he was born and raised. Driving for the Modena Co-op Creamery, Roger purchased his first truck route with a $400 loan from his mother.
In the 1950's he expanded his milk delivery routes, purchased and drove school buses, and hauled petroleum products with his first tractor-trailer.
In 1956, the first tractor-trailer combination was purchased, and Marten began hauling petroleum for Bauer Built of Durand, WI. Marten's volume doubled after the acquisition of Mondovi Trucking Co. in 1959. The following year Marten added a tandem axle tractor to its fleet.
In 1962, the Land O' Lakes drying operation in Mondovi closed, creating a need for a milk transporter. Marten secured a contract to haul the products, purchased two tractor-trailer units and began what would become a long-term, profitable relationship with this dairy cooperative.
Having experienced some regional success in the early 1960s, Roger began to develop his interstate carrier business. His initial focus was on serving customers in the Midwest and on the West Coast. Roger made a decision to secure his company's roots by planning a small office complex and service terminal on the property that now houses the current corporate headquarters in Mondovi, WI.
In 1965 a one-bay garage (in Mondovi) became Marten's first terminal. That same year Roger's son, Randy, joined the company, initially assisting with equipment maintenance and dispatch. Dry vans were also added to the fleet to expand Marten's service to include dry milk products.
By 1972, six new trucks had been added to the fleet and Marten began hauling milk to Florida, Pennsylvania and Ohio, expanding the company's long-haul milk transport business. In 1976, Marten purchased Hiawatha Produce of Winona, Minnesota. This acquisition was the start of Marten's long-distance hauling of perishable foods in refrigerated trailers.
Marten opened its Ontario, California terminal in 1985 to better serve customers on the West Coast. That same year Marten named Randy Marten President, the company exceeded $50 million in revenue for the first time, and built a major expansion to its Mondovi headquarters.
Electronic Data Interchange (or EDI) was implemented in 1987, allowing for more efficient flow of information between Marten and its high volume customers. In 1989, temperature-sensitive transportation service became the company's primary focus and the Aurora, Oregon service center was opened.
In 1993, Marten surpassed $100 million in annual revenue, but it also suffered the tragic loss of company-founder Roger Marten. After his father's passing Randy Marten assumed the primary leadership role for the company. During that year, Randy oversaw the completion of a 15,000-square foot corporate office expansion, the addition of a new terminal in Jonesboro, Georgia and the implementation of a satellite tracking system.
The company made a strategic decision to begin hauling 53-foot trailers in 1995. The new equipment allowed Marten to position itself for maximum market flexibility. It also purchased a maintenance facility in Wilsonville, Oregon, near Portland and grew its fleet to more than 1,000 tractors.
In 1996, Marten reached three historical milestones; it opened the Roger Marten Community Center in Mondovi, celebrated 50 years in business, and 10 years as a publicly traded company.
In March of 2000, Marten moved from the Jonesboro, Georgia terminal to a new facility in the town of Forest Park (in the Atlanta metro area). A new state-of-the art video conferencing platform was added in 2001. The new technology allowed Marten to extend training, driver seminars and orientation classes to its terminal locations.
In 2002, Marten introduced its own in-house video production department. Using state-of-the-art digital equipment and computer-based non-linear editing, Marten began to produce customized training materials, radio ads and video productions to address specific needs. The department has further evolved into New Media Development, where it now supports the company's efforts through the creation of technological, promotional and instructional resources.
An 11,000 square foot expansion was added to the corporate headquarters in 2004 and a new terminal opened in Indianapolis, Ind. A plan was set in place to add more then 160 jobs during the next three years. Randy Marten was named Mondovi VFW Citizen of the Year and earned a Lifetime Achievement award from the University of Wisconsin-Eau Claire. And company revenue and net income rose to all-time highs.
In the past two years, Marten has been recognized for its ongoing commitment to be the best. The company has twice been named one of the 200 best small business in America by Forbes magazine ('05 and '06). Company President, Randy Marten earned the distinction as a regional winner of Ernst & Young's prestigious Entrepreneur of the Year award for Transportation in the Wisconsin Region ('05).
Marten was selected as "The Best Place to Work" in the area by Chippewa Valley B2B magazine and also earned the Grand Prize for Safety from the Truckload Carriers Association. But beyond the awards, Marten continued its push forward, by introducing Intermodal and Logistics divisions to diversify its offerings to customers.
During the past four years, Marten’s operating revenue, net of fuel surcharge, has grown 37.8%, and its earnings per diluted share have grown 64.7%. This represents compounded annual growth of 8.3% in operating revenue, before fuel surcharge, and 13.3% in earnings per share.
With more than 60 years of experience, Marten Transport continues to push forward. The company has grown from a small, regional carrier into one of today's leading national protective service transportation companies. With terminals in Wisconsin, Georgia, California, Oregon, and Indiana, Marten serves customers across 48 states and Canada.
Today, the company that started out as one young man's dream, employs more than 2,600 people and works with nearly 400 contractors as it carries on its founder's philosophy of "Expecting the Best."
For information on driving opportunities with Marten Transport contact driver recruiting at 800-395-3331 of visit Marten.com. Expect the Best!
IRA Rollovers: What You Need to Know
Planning to change jobs or retire soon? If so, you may be due to receive a lump sum distribution from your retirement plan at work, such as a 401(k). Keep in mind that mishandling a distribution could cost you thousands in taxes, penalties and lost income.
To prevent triggering the 10 percent early withdrawal penalty, for example, we recommend setting up an Individual Retirement Account and "rolling over" the money into it. In the securities business it is called a trustee-to-trustee transfer and many recipients of a lump sum choose to handle it this way. Why does receiving the money in this way avoid the penalty? Because the IRS allows it.
Just how valuable is this inherent tax-savings benefit? Here is one way to quantify its value:
Assume you received a lump sum distribution of $100,000 and earned 9 percent annually, tax-deferred. After 20 years, your account would be worth approximately $560,441. Now let's assume you put that $100,000 in a taxable account and earned the same annual rate of return, but paid federal income taxes of 28 percent every year. After 20 years, you would have a paltry balance of only $351,043. As a result, by having the lump sum growing in the IRA, you'd be able to accumulate $209,398 more than if the money were in a taxable account. That's a significant benefit.
The long and the short of the matter is that rollovers are not as simple as they seem on the surface, and what you don't know can cost you dearly. Please contact your Hillard Lyons financial consultant for more information.
Augustine Gattuso
Financial Consultant
Hilliard.com
865-769-6479 - 800-491-0717
We have to admit that we were a little surprised by the results of the TruckDriver.com Second in Command Survey Part One. Not so much by the fact that over a one third of you said Hillary Clinton will be chosen as the Vice-Presidential candidate, (that's name recognition) but that over 40 percent of you don't really care who Obama's running mate will be. Does that mean you aren't Obama fans, or that you are turned off by the election process in general?
Here are the results as we go to press:
Who will Barrack Obama's running mate be in the 2008 Presidential Election?
Jim Webb 3%
Hillary Clinton 37%
Bill Richardson 7%
Joe Biden 2%
Wesley Clark 3%
Tom Daschle 1%
Chuck Hagel 1%
Who knows? 13%
Who cares? 33%
You probably guessed this already, but the next survey is the The TruckDriver.com Second in Command Survey Part Two.
We’ll see what those results tell us.
Until next time, keep on truckin' and please drive safely.
Your Comments Are Always Welcome
We do like to hear from you and invite you to let us know how we can improve the e-Report. Please send your ideas and suggestions to: jobs@truckdriver.com
