Industry & Services >> Sector Roundtables >> July 12, 2004


JON LANGENFELD, Vice President, is Robert W. Baird's senior analyst covering the Transportation and Logistics sector. Prior to joining Baird in 2000, he was a senior manager at PricewaterhouseCoopers providing supply chain consulting services. Mr. Langenfeld was recently recognized by Forbes as among the "Top Equity Analysts-Best Earnings Estimators" for his coverage of Air Freight & Logistics in 2003. Mr. Langenfeld has a BS in Mechanical Engineering and an MBA from the University of Notre Dame. He is a Chartered Financial Analyst. Profile
JASON SEIDL is a Vice President at Avondale Partners, LLC's Equity Research Department covering the freight transportation industry. While he joined Avondale Partners in January of 2003, he can trace his career in transportation equity research back to April of 1998, when he started with Furman Selz. He continued following the railroad, trucking and airfreight industries under the company's reincarnation as ING Barings and then ABN AMRO. Mr. Seidl has a solid transportation background as he worked for the New Jersey Bureau of State Use Industries in fleet management for two and a half years while spending another year with Roadway Package Systems (now FedEx Ground). Mr. Seidl graduated from Rutgers University with an MBA in Finance and received his Bachelor of Science degree from Syracuse University with a dual concentration in Transportation Distribution Management and Marketing. He was recently ranked third for EPS accuracy in the Road & Rail industry by's annual ranking for Wall Street analysts. Profile
GREGORY E. BURNS is a Vice President and Research Analyst at J.P. Morgan Securities covering the airfreight and logistics sectors. Prior to joining J.P. Morgan, Mr. Burns was a Director and Research Analyst at Lazard Freres & Co. Before joining Lazard, Mr. Burns was an analyst at GKM, Schroders, & Merrill Lynch. A Chartered Financial Analyst, Mr. Burns is a member of the New York Society of Security Analysts (NYSSA), the Association of Investment Management and Research (AIMR) and the Council of Logistics Management (CLM). Profile
TWST: Jason, what has gone on in this whole transportation and logistics

area from a business point of view so far in 2004?

Mr. Seidl: 2004 has been another strong year for the