Mr. Brand: I would characterize the overall environment as stable. For most of the year what we've seen are modest improvements in freight trends. Asia has continued to be an area of strength for the international players. But even on the domestic front I think it's fair to say that trends from an economic perspective and from a macro perspective have not gotten worse. Certainly in the last few months we've seen what I would characterize as marginal improvements in freight trends. We think this is going to lead to a better second half of 2003.
TWST: John, from your perspective how have things gone so far this year?
Mr. Barnes: I would echo Alex's comments. Things have been remarkably
stable. I think the first quarter was actually a little better than most
people expected. There was a bit of a carryover from the West Coast port
shutdown, and that kept volume levels a little higher than expected. But
I think the economy kind of hung in there. We did have a rough patch
obviously in the middle of the second quarter with the war which took
some steam out of it, but I think as we've come out of that and
sentiment has gotten a bit better we're beginning to see the volumes
pick up to a point where we've suggested we may be on the cusp of a
rebound.
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