{"version":"1.0.0","segments":[{"startTime":0.36,"endTime":6.24,"body":"And this week on the show, we've got"},{"startTime":0.36,"endTime":6.24,"body":"Circle Logistics, talking about how they"},{"startTime":6.24,"endTime":9.09,"body":"service our transportation industry."},{"startTime":9.36,"endTime":10.74,"body":"Let's get on with the show."},{"startTime":11.97,"endTime":14.46,"body":"Welcome to the Trekking"},{"startTime":11.97,"endTime":14.46,"body":"Risk and Insurance podcast."},{"startTime":15.33,"endTime":19.38,"body":"Gentlemen, welcome to this"},{"startTime":15.33,"endTime":19.38,"body":"episode of the podcast."},{"startTime":19.59,"endTime":22.8,"body":"Carl, can you introduce"},{"startTime":19.59,"endTime":22.8,"body":"yourself to our viewers?"},{"startTime":23.07,"endTime":24.39,"body":"I certainly can."},{"startTime":24.39,"endTime":26.05,"body":"Uh, Karl Fillhouer."},{"startTime":26.07,"endTime":29.79,"body":"I've been in our industry now since 1983."},{"startTime":30.87,"endTime":35.79,"body":"I've had the fortune of touching every"},{"startTime":30.87,"endTime":35.79,"body":"segment of transportation, domestic"},{"startTime":35.79,"endTime":39.84,"body":"international service type, LTL,"},{"startTime":35.79,"endTime":39.84,"body":"truckload, air freight, whatever."},{"startTime":39.99,"endTime":43.68,"body":"Uh, I've been with Circle Now"},{"startTime":39.99,"endTime":43.68,"body":"for about eight years, joined"},{"startTime":43.68,"endTime":46.41,"body":"the Circle Team in 2018."},{"startTime":46.95,"endTime":51.54,"body":"Uh, and I, I'm kind of a jack"},{"startTime":46.95,"endTime":51.54,"body":"of all trades in some respects."},{"startTime":51.54,"endTime":54.12,"body":"I've got some definite"},{"startTime":51.54,"endTime":54.12,"body":"functionality that I have to do"},{"startTime":54.12,"endTime":55.74,"body":"on a daily basis with Circle, but."},{"startTime":56.295,"endTime":60.765,"body":"I get involved with a number of our"},{"startTime":56.295,"endTime":60.765,"body":"branches as well, uh, any corporate needs."},{"startTime":60.824,"endTime":63.975,"body":"And you get involved in"},{"startTime":60.824,"endTime":63.975,"body":"podcast episodes, correct."},{"startTime":64.995,"endTime":67.725,"body":"Alright, Robert, welcome to the show."},{"startTime":67.725,"endTime":69.554,"body":"Say hi to our viewers and listener."},{"startTime":69.615,"endTime":69.914,"body":"Hi."},{"startTime":69.914,"endTime":70.755,"body":"Thanks for having me."},{"startTime":70.815,"endTime":71.775,"body":"You are welcome."},{"startTime":72.075,"endTime":73.634,"body":"What's your background, Robert?"},{"startTime":73.635,"endTime":77.655,"body":"Uh, so I've been at Circle for"},{"startTime":73.635,"endTime":77.655,"body":"a little over seven years now."},{"startTime":77.685,"endTime":79.875,"body":"Done a variety of different"},{"startTime":77.685,"endTime":79.875,"body":"things while I've been here."},{"startTime":79.875,"endTime":84.765,"body":"Currently I'm our in-house legal counsel"},{"startTime":79.875,"endTime":84.765,"body":"helping with compliance contract review,"},{"startTime":84.765,"endTime":88.725,"body":"and then also working with our Mexico"},{"startTime":84.765,"endTime":88.725,"body":"operations to kind of help make sure that"},{"startTime":88.725,"endTime":90.735,"body":"that's all done in, uh, good fashion."},{"startTime":91.18,"endTime":95.11,"body":"So, so we're talking about"},{"startTime":91.18,"endTime":95.11,"body":"circle logistics, which is"},{"startTime":95.11,"endTime":97.39,"body":"largely a, uh, freight broker."},{"startTime":97.45,"endTime":100.33,"body":"Why does a freight broker need a lawyer?"},{"startTime":100.36,"endTime":105.73,"body":"All the risk there is, uh, cargo"},{"startTime":100.36,"endTime":105.73,"body":"claims, highway accidents, you name it."},{"startTime":107.08,"endTime":107.59,"body":"Yes."},{"startTime":107.59,"endTime":109.6,"body":"Well, I could name a few more things."},{"startTime":109.87,"endTime":110.41,"body":"Carl."},{"startTime":110.65,"endTime":117.61,"body":"Uh, why would, uh, a broker need"},{"startTime":110.65,"endTime":117.61,"body":"a lawyer, an in-house counsel?"},{"startTime":117.91,"endTime":120.4,"body":"Most of us are large"},{"startTime":117.91,"endTime":120.4,"body":"enough to where we're."},{"startTime":120.75,"endTime":126.66,"body":"Exposed by the amount of business we do to"},{"startTime":120.75,"endTime":126.66,"body":"all sorts of different potential claims."},{"startTime":126.66,"endTime":128.19,"body":"Cargo claims is the big one."},{"startTime":128.31,"endTime":129.93,"body":"Contract review is huge."},{"startTime":129.93,"endTime":134.01,"body":"Most of our largest con companies that"},{"startTime":129.93,"endTime":134.01,"body":"we work with, we are under contract."},{"startTime":134.49,"endTime":139.11,"body":"So we're, we're reviewing, I'm, I'm gonna"},{"startTime":134.49,"endTime":139.11,"body":"guess that a couple of contracts daily,"},{"startTime":139.2,"endTime":144.24,"body":"uh, just to make sure that they are"},{"startTime":139.2,"endTime":144.24,"body":"not, uh, over favoring of the customer"},{"startTime":144.24,"endTime":147.09,"body":"and to make sure that we're covered"},{"startTime":144.24,"endTime":147.09,"body":"and we can do what we're agreeing to."},{"startTime":147.495,"endTime":148.695,"body":"In the contract."},{"startTime":148.695,"endTime":154.005,"body":"So Robert is our in-house counsel"},{"startTime":148.695,"endTime":154.005,"body":"and we also have, uh, a couple of"},{"startTime":154.005,"endTime":158.355,"body":"different outhouse lawyers that we"},{"startTime":154.005,"endTime":158.355,"body":"work with or out-of-house lawyers"},{"startTime":158.565,"endTime":163.905,"body":"that we lead on to anything we"},{"startTime":158.565,"endTime":163.905,"body":"need from a capacity standpoint."},{"startTime":163.905,"endTime":169.605,"body":"So Rob and Robert, as our in-house is"},{"startTime":163.905,"endTime":169.605,"body":"managing those relationships as well."},{"startTime":169.635,"endTime":173.535,"body":"Isn't it wonderful, Robert, to"},{"startTime":169.635,"endTime":173.535,"body":"be in the freight industry as a."},{"startTime":173.925,"endTime":175.095,"body":"A legal counsel,"},{"startTime":175.305,"endTime":176.265,"body":"definitely enjoyable."},{"startTime":176.265,"endTime":177.675,"body":"There's something new every day."},{"startTime":177.675,"endTime":181.484,"body":"There's always a, always a new"},{"startTime":177.675,"endTime":181.484,"body":"problem to track down so well,"},{"startTime":181.484,"endTime":182.505,"body":"and that keeps things interesting."},{"startTime":183.135,"endTime":183.704,"body":"Exactly."},{"startTime":183.704,"endTime":189.525,"body":"What I'm thinking is there's always,"},{"startTime":183.704,"endTime":189.525,"body":"always something going on, and"},{"startTime":189.704,"endTime":193.395,"body":"especially as a freight broker,"},{"startTime":189.704,"endTime":193.395,"body":"I mean, one of the things that"},{"startTime":193.454,"endTime":196.395,"body":"comes to mind immediately is fraud."},{"startTime":196.935,"endTime":198.045,"body":"Um, among."},{"startTime":198.57,"endTime":202.2,"body":"The stuff, but we are here"},{"startTime":198.57,"endTime":202.2,"body":"talking about circle logistics."},{"startTime":202.44,"endTime":208.23,"body":"Carl, can you tell me a little bit"},{"startTime":202.44,"endTime":208.23,"body":"about Circle and the brokerage behind"},{"startTime":208.23,"endTime":208.29,"body":"it?"},{"startTime":208.56,"endTime":209.19,"body":"Absolutely."},{"startTime":209.19,"endTime":209.4,"body":"Yeah."},{"startTime":209.4,"endTime":212.1,"body":"I'll, uh, I'll give you"},{"startTime":209.4,"endTime":212.1,"body":"the 50,000 foot overview."},{"startTime":212.52,"endTime":216.57,"body":"So we, the company's been around"},{"startTime":212.52,"endTime":216.57,"body":"since 2011, I believe it was"},{"startTime":216.57,"endTime":218.49,"body":"September when we incorporated."},{"startTime":218.954,"endTime":222.225,"body":"We're privately held by two"},{"startTime":218.954,"endTime":222.225,"body":"individuals, uh, both with"},{"startTime":222.225,"endTime":224.115,"body":"origins in Fort Wayne, Indiana."},{"startTime":224.174,"endTime":227.475,"body":"The history basically is rapid expansion."},{"startTime":227.745,"endTime":233.234,"body":"By the time I joined the company"},{"startTime":227.745,"endTime":233.234,"body":"in 2018, we were already at about"},{"startTime":233.234,"endTime":236.144,"body":"$185 million in annual revenue."},{"startTime":236.234,"endTime":242.655,"body":"The bulk of that in the mid 90 to 95%"},{"startTime":236.234,"endTime":242.655,"body":"range is driven by truckload broker."},{"startTime":242.94,"endTime":243.75,"body":"Activity."},{"startTime":243.899,"endTime":248.399,"body":"So as we grew, we've kind of"},{"startTime":243.899,"endTime":248.399,"body":"evolved into what we've become"},{"startTime":248.399,"endTime":250.47,"body":"Today we are light asset based."},{"startTime":250.47,"endTime":255.059,"body":"We've got a transportation entity"},{"startTime":250.47,"endTime":255.059,"body":"we're associated with, but we approach"},{"startTime":255.059,"endTime":256.56,"body":"everything from a broker's vantage."},{"startTime":256.589,"endTime":264.24,"body":"Since 2018, we, we have grown from that"},{"startTime":256.589,"endTime":264.24,"body":"180 ish million dollar annual revenue"},{"startTime":264.3,"endTime":266.969,"body":"up to, we peaked over 700 million."},{"startTime":267.675,"endTime":271.275,"body":"We've kind of settled in over the"},{"startTime":267.675,"endTime":271.275,"body":"last couple of years at the low"},{"startTime":271.275,"endTime":276.344,"body":"500 million mark, which gives us a"},{"startTime":271.275,"endTime":276.344,"body":"lot of buying power, and it gives"},{"startTime":276.344,"endTime":280.155,"body":"us a lot of relationships that we"},{"startTime":276.344,"endTime":280.155,"body":"try to manage with our carriers."},{"startTime":280.215,"endTime":281.895,"body":"All of our growth has been organic."},{"startTime":281.955,"endTime":286.065,"body":"We, we have not done any m and a"},{"startTime":281.955,"endTime":286.065,"body":"work and we've done nothing more"},{"startTime":286.065,"endTime":292.005,"body":"than hire really smart, really well,"},{"startTime":286.065,"endTime":292.005,"body":"uh, networked leaders that be, have"},{"startTime":292.005,"endTime":293.835,"body":"become part of our organization."},{"startTime":294.77,"endTime":295.455,"body":"I'll see you."},{"startTime":296.055,"endTime":301.455,"body":"And how does that, since Robert's"},{"startTime":296.055,"endTime":301.455,"body":"here, how does that get you involved?"},{"startTime":301.485,"endTime":304.995,"body":"What are some of the problems"},{"startTime":301.485,"endTime":304.995,"body":"with the growth that Circle has"},{"startTime":305.745,"endTime":307.455,"body":"done over the last several years?"},{"startTime":307.545,"endTime":311.355,"body":"Well, one of the main things is contract"},{"startTime":307.545,"endTime":311.355,"body":"review, like Carl mentioned, is just"},{"startTime":311.385,"endTime":313.185,"body":"keeping up with all of the contracts."},{"startTime":313.185,"endTime":316.395,"body":"You know, not all of them are"},{"startTime":313.185,"endTime":316.395,"body":"the short sweep, four pagers."},{"startTime":317.505,"endTime":321.914,"body":"You know, some of these are, uh, 60"},{"startTime":317.505,"endTime":321.914,"body":"pages and it's covering every single"},{"startTime":321.914,"endTime":323.505,"body":"little thing you could consider."},{"startTime":323.505,"endTime":323.775,"body":"So."},{"startTime":324.3,"endTime":327.81,"body":"Uh, you know, keeping up with the"},{"startTime":324.3,"endTime":327.81,"body":"contracts has been a big part."},{"startTime":327.81,"endTime":331.2,"body":"And then, you know, as volume"},{"startTime":327.81,"endTime":331.2,"body":"increases, there's more cargo claims,"},{"startTime":331.2,"endTime":335.46,"body":"so keeping up with that and making"},{"startTime":331.2,"endTime":335.46,"body":"sure our insurance matches up with the"},{"startTime":335.46,"endTime":337.47,"body":"commodities we're hauling and all of that."},{"startTime":337.47,"endTime":341.55,"body":"So it's every time we're growing,"},{"startTime":337.47,"endTime":341.55,"body":"there's a new, uh, a new risk to mitigate"},{"startTime":341.76,"endTime":343.8,"body":"Without giving out names or anything."},{"startTime":343.8,"endTime":351.24,"body":"What is the most unusual thing"},{"startTime":343.8,"endTime":351.24,"body":"you've found in a contract that, uh."},{"startTime":351.63,"endTime":356.13,"body":"Perhaps you never signed the contract"},{"startTime":351.63,"endTime":356.13,"body":"until it was changed, but what's"},{"startTime":356.13,"endTime":361.89,"body":"an unusual item that you found"},{"startTime":356.13,"endTime":361.89,"body":"that you didn't, uh, particularly"},{"startTime":361.89,"endTime":363.93,"body":"like, can you give us an example?"},{"startTime":363.96,"endTime":364.23,"body":"Yeah."},{"startTime":364.23,"endTime":368.82,"body":"I think the most extraordinary term"},{"startTime":364.23,"endTime":368.82,"body":"I, I've seen in the contract came"},{"startTime":368.82,"endTime":373.56,"body":"up in the last year, and it was an"},{"startTime":368.82,"endTime":373.56,"body":"overseas client wanted as part of"},{"startTime":373.56,"endTime":377.58,"body":"the, as part of the master agreement,"},{"startTime":373.56,"endTime":377.58,"body":"there was a confidentiality clause."},{"startTime":378.195,"endTime":384.765,"body":"Uh, specifically related to data,"},{"startTime":378.195,"endTime":384.765,"body":"and they had a $750,000 penalty for"},{"startTime":385.125,"endTime":390.015,"body":"the export of data, which was defined"},{"startTime":385.125,"endTime":390.015,"body":"broadly enough that if you access the"},{"startTime":390.015,"endTime":394.005,"body":"database from your personal computer"},{"startTime":390.015,"endTime":394.005,"body":"at home, even as still an employee,"},{"startTime":394.095,"endTime":397.005,"body":"that was worth a $750,000 fine."},{"startTime":397.005,"endTime":400.515,"body":"I just, it was defined so broadly,"},{"startTime":397.005,"endTime":400.515,"body":"it was almost anything could be."},{"startTime":401.115,"endTime":402.195,"body":"A breach so"},{"startTime":402.255,"endTime":408.375,"body":"Well, and I hope all the trucking owners"},{"startTime":402.255,"endTime":408.375,"body":"and managers of trucking companies just"},{"startTime":408.375,"endTime":414.525,"body":"heard that is, I will bet many of us"},{"startTime":408.375,"endTime":414.525,"body":"would've signed the contract without"},{"startTime":414.765,"endTime":417.075,"body":"complete understanding of the contract."},{"startTime":417.075,"endTime":421.635,"body":"You know, but, Hey, Carl, what"},{"startTime":417.075,"endTime":421.635,"body":"some, what are some of the service"},{"startTime":421.635,"endTime":423.195,"body":"offerings if I'm a carrier?"},{"startTime":423.735,"endTime":426.284,"body":"Why would I want to come"},{"startTime":423.735,"endTime":426.284,"body":"to Circle Logistics?"},{"startTime":426.315,"endTime":431.565,"body":"Well, we've got, uh, what I would"},{"startTime":426.315,"endTime":431.565,"body":"define as key carrier partners."},{"startTime":431.565,"endTime":436.305,"body":"They're generally carriers that"},{"startTime":431.565,"endTime":436.305,"body":"are, uh, five trucks up to maybe"},{"startTime":436.305,"endTime":440.505,"body":"50 to 80 trucks, depending on where"},{"startTime":436.305,"endTime":440.505,"body":"they are and where they function."},{"startTime":440.534,"endTime":444.735,"body":"We can provide them with a sales"},{"startTime":440.534,"endTime":444.735,"body":"effort that they generally can't"},{"startTime":444.735,"endTime":447.825,"body":"do on their own because they're"},{"startTime":444.735,"endTime":447.825,"body":"just not big enough to support."},{"startTime":447.975,"endTime":450.525,"body":"Well run sales effort"},{"startTime":447.975,"endTime":450.525,"body":"in a marketing effort."},{"startTime":451.02,"endTime":455.58,"body":"So what we offer the carriers is really"},{"startTime":451.02,"endTime":455.58,"body":"visibility and access to freight that they"},{"startTime":455.58,"endTime":458.159,"body":"would not be able to access on their own."},{"startTime":458.19,"endTime":461.07,"body":"From a customer's standpoint,"},{"startTime":458.19,"endTime":461.07,"body":"we're doing the same thing in, in"},{"startTime":461.07,"endTime":464.28,"body":"the states, a large, uh, majority."},{"startTime":464.28,"endTime":466.56,"body":"Now it's, it's north of 50%."},{"startTime":467.1,"endTime":472.86,"body":"Of the truckload business that is not a"},{"startTime":467.1,"endTime":472.86,"body":"regular route, point A to point B, that's"},{"startTime":472.86,"endTime":478.65,"body":"still managed or moved by small mom and"},{"startTime":472.86,"endTime":478.65,"body":"pop operations, one truck to 10 trucks."},{"startTime":478.71,"endTime":483.6,"body":"And what we can do from an organization"},{"startTime":478.71,"endTime":483.6,"body":"standpoint with our customers is we"},{"startTime":483.6,"endTime":488.79,"body":"provide them access to well vetted"},{"startTime":483.6,"endTime":488.79,"body":"carriers contracted properly that they"},{"startTime":488.79,"endTime":491.04,"body":"would never have access to on their own."},{"startTime":491.1,"endTime":493.53,"body":"Uh, most of the large carriers,"},{"startTime":491.1,"endTime":493.53,"body":"what we're seeing today."},{"startTime":493.72,"endTime":498.25,"body":"They've got specific lanes they wanna"},{"startTime":493.72,"endTime":498.25,"body":"stay in, and if they veer from that"},{"startTime":498.25,"endTime":501.61,"body":"lane, they're generally charging"},{"startTime":498.25,"endTime":501.61,"body":"the customers a premium for that"},{"startTime":501.61,"endTime":505.39,"body":"because they're getting their truck"},{"startTime":501.61,"endTime":505.39,"body":"out of the normal lane assignment."},{"startTime":505.42,"endTime":511.54,"body":"We can solve that problem by offering"},{"startTime":505.42,"endTime":511.54,"body":"them small operations that need us from a"},{"startTime":511.54,"endTime":516.46,"body":"sales standpoint and on the customers thus"},{"startTime":511.54,"endTime":516.46,"body":"can benefit from our network of carriers."},{"startTime":516.49,"endTime":521.289,"body":"I think a lot of the times"},{"startTime":516.49,"endTime":521.289,"body":"the, the smaller carriers will"},{"startTime":521.289,"endTime":523.39,"body":"give a lot better service."},{"startTime":523.875,"endTime":530.145,"body":"Because they are much more reliant on"},{"startTime":523.875,"endTime":530.145,"body":"you as a customer, and so they really"},{"startTime":530.145,"endTime":537.255,"body":"want to do the delivery and excel at"},{"startTime":530.145,"endTime":537.255,"body":"it because they don't have another, you"},{"startTime":537.255,"endTime":541.815,"body":"know, six or seven customers backing"},{"startTime":537.255,"endTime":541.815,"body":"them up that could easily replace you."},{"startTime":542.41,"endTime":542.83,"body":"Mm-hmm."},{"startTime":543.704,"endTime":543.944,"body":"Yep."},{"startTime":544.155,"endTime":544.545,"body":"Correct."},{"startTime":544.605,"endTime":549.584,"body":"What are some of the problems that"},{"startTime":544.605,"endTime":549.584,"body":"you, you do run into in your world?"},{"startTime":549.704,"endTime":553.515,"body":"'cause I, I've never been"},{"startTime":549.704,"endTime":553.515,"body":"a logistics or a broker."},{"startTime":553.964,"endTime":555.915,"body":"I've always been on the trucking side."},{"startTime":555.944,"endTime":560.564,"body":"Uh, what kind of problems"},{"startTime":555.944,"endTime":560.564,"body":"would I run into as a broker?"},{"startTime":562.305,"endTime":563.295,"body":"So the."},{"startTime":564.09,"endTime":568.23,"body":"One of the biggest challenges"},{"startTime":564.09,"endTime":568.23,"body":"brokers today have is having the"},{"startTime":568.23,"endTime":571.98,"body":"right SOP in place for vetting"},{"startTime":568.23,"endTime":571.98,"body":"carriers they're gonna work with."},{"startTime":572.04,"endTime":577.23,"body":"It's gotta be something that is not"},{"startTime":572.04,"endTime":577.23,"body":"just gonna provide the carrier with"},{"startTime":577.41,"endTime":581.1,"body":"data, information, and business,"},{"startTime":577.41,"endTime":581.1,"body":"but it's gonna provide safety"},{"startTime":581.1,"endTime":583.02,"body":"for the carrier and the customer."},{"startTime":583.05,"endTime":589.05,"body":"So when you look at costs in the"},{"startTime":583.05,"endTime":589.05,"body":"evolution of cost for a specific customer."},{"startTime":589.89,"endTime":595.319,"body":"They can't control those costs by having"},{"startTime":589.89,"endTime":595.319,"body":"their own relationships with small"},{"startTime":595.319,"endTime":598.439,"body":"carriers that they own and operate from."},{"startTime":598.65,"endTime":600.18,"body":"So we're a clear read house."},{"startTime":600.54,"endTime":603.66,"body":"Um, we make sure things are,"},{"startTime":600.54,"endTime":603.66,"body":"are properly contracted."},{"startTime":603.66,"endTime":607.68,"body":"We make sure the risk is really set"},{"startTime":603.66,"endTime":607.68,"body":"out and understood in the right place."},{"startTime":608.069,"endTime":612.719,"body":"And, and again, I'm gonna go back to"},{"startTime":608.069,"endTime":612.719,"body":"we give access to a carrier group."},{"startTime":613.185,"endTime":617.505,"body":"That will work better and"},{"startTime":613.185,"endTime":617.505,"body":"more efficiently in, in lanes"},{"startTime":617.505,"endTime":618.855,"body":"that are not consistent lanes."},{"startTime":618.915,"endTime":620.355,"body":"I don't know if that"},{"startTime":618.915,"endTime":620.355,"body":"answered your question."},{"startTime":620.445,"endTime":621.255,"body":"I think it does."},{"startTime":621.255,"endTime":621.315,"body":"Yeah."},{"startTime":622.08,"endTime":624.81,"body":"And what areas do you service?"},{"startTime":624.84,"endTime":631.44,"body":"So from a, from an industry standpoint,"},{"startTime":624.84,"endTime":631.44,"body":"we, we manage transactions in every mode."},{"startTime":631.83,"endTime":637.11,"body":"We obviously have the variety or the, the,"},{"startTime":631.83,"endTime":637.11,"body":"the bulk of the variety of type of freight"},{"startTime":637.11,"endTime":640.41,"body":"we manage is gonna be 53 foot van freight."},{"startTime":640.41,"endTime":646.44,"body":"But we also have, uh, multiple teams in"},{"startTime":640.41,"endTime":646.44,"body":"multiple locations that concentrate on"},{"startTime":646.44,"endTime":649.2,"body":"oversized over dimensional flatbed free."},{"startTime":649.59,"endTime":652.05,"body":"As well as just typical flatbed freight."},{"startTime":652.35,"endTime":656.79,"body":"We do a lot of work with partials,"},{"startTime":652.35,"endTime":656.79,"body":"uh, in the, in the flatbed world"},{"startTime":656.91,"endTime":661.11,"body":"and it, and in truckload, so we"},{"startTime":656.91,"endTime":661.11,"body":"can, we can build a or fill the gap"},{"startTime":661.11,"endTime":663.51,"body":"between LTL and truckload needs."},{"startTime":663.824,"endTime":665.745,"body":"I'm trying to remember"},{"startTime":663.824,"endTime":665.745,"body":"where I was going with that."},{"startTime":666.165,"endTime":669.704,"body":"But at any rate, we, we offer"},{"startTime":666.165,"endTime":669.704,"body":"every industry vertical."},{"startTime":669.704,"endTime":674.084,"body":"So van, we, we do bulk, whether"},{"startTime":669.704,"endTime":674.084,"body":"it's bulk tanker and or bulk"},{"startTime":674.084,"endTime":675.375,"body":"hopper, that type of thing."},{"startTime":675.405,"endTime":677.235,"body":"We do any specialty trailer."},{"startTime":677.295,"endTime":681.015,"body":"Um, we actually have some of our"},{"startTime":677.295,"endTime":681.015,"body":"own trailers that are catering"},{"startTime":681.015,"endTime":684.375,"body":"to the automotive industry that"},{"startTime":681.015,"endTime":684.375,"body":"to haul like frames of cars."},{"startTime":684.405,"endTime":688.995,"body":"We give a end-to-end offering"},{"startTime":684.405,"endTime":688.995,"body":"when it comes to automotive."},{"startTime":689.32,"endTime":693.82,"body":"Everything from tier one, uh, plants"},{"startTime":689.32,"endTime":693.82,"body":"shipping directly to an auto assembly"},{"startTime":693.82,"endTime":699.07,"body":"plant to shipping cars after they"},{"startTime":693.82,"endTime":699.07,"body":"come off the line as one-offs."},{"startTime":699.07,"endTime":703.03,"body":"We, we move a lot of vehicles in that"},{"startTime":699.07,"endTime":703.03,"body":"regard, and we have a lot of tier"},{"startTime":703.03,"endTime":707.77,"body":"one products going into manufacturing"},{"startTime":703.03,"endTime":707.77,"body":"in respect to automotive, and we"},{"startTime":707.77,"endTime":709.45,"body":"do sue in every industry vertical."},{"startTime":709.45,"endTime":715.15,"body":"So each verti vertical, depending on what"},{"startTime":709.45,"endTime":715.15,"body":"shipper you're talking about, may need."},{"startTime":715.545,"endTime":720.765,"body":"Van Freight as well as flatbed support,"},{"startTime":715.545,"endTime":720.765,"body":"and we can provide both very easily."},{"startTime":721.185,"endTime":724.785,"body":"Uh, we also do a lot of reefer work"},{"startTime":721.185,"endTime":724.785,"body":"and we, we handle a lot of reefer work,"},{"startTime":724.785,"endTime":729.405,"body":"whether it's full freezing, 10 below,"},{"startTime":724.785,"endTime":729.405,"body":"uh, temperatures on the reefer units, all"},{"startTime":729.405,"endTime":733.755,"body":"the way up to just ambient temperatures"},{"startTime":729.405,"endTime":733.755,"body":"for freight that can't get too hot"},{"startTime":734.745,"endTime":735.225,"body":"right now."},{"startTime":735.345,"endTime":740.295,"body":"And you mentioned automotive,"},{"startTime":735.345,"endTime":740.295,"body":"which in my mind at the moment"},{"startTime":740.685,"endTime":742.995,"body":"brings up the subject of tariffs."},{"startTime":743.564,"endTime":750.585,"body":"How are tariffs, uh, one hitting"},{"startTime":743.564,"endTime":750.585,"body":"the general freight industry,"},{"startTime":750.824,"endTime":755.805,"body":"and then specifically, how are"},{"startTime":750.824,"endTime":755.805,"body":"tariffs affecting circle logistics?"},{"startTime":756.255,"endTime":758.865,"body":"Uh, Robert or Carl, who wants that one?"},{"startTime":758.985,"endTime":760.755,"body":"You want me to pull that one down, Robert?"},{"startTime":760.845,"endTime":761.66,"body":"Yeah, if you wanna get us started."},{"startTime":762.41,"endTime":762.699,"body":"Yeah."},{"startTime":763.17,"endTime":763.46,"body":"Okay."},{"startTime":763.965,"endTime":764.595,"body":"So."},{"startTime":765.84,"endTime":767.82,"body":"The tariff privately."},{"startTime":767.82,"endTime":771.72,"body":"As an individual, I'm hoping that"},{"startTime":767.82,"endTime":771.72,"body":"we as a government are just using"},{"startTime":771.72,"endTime":774.6,"body":"tariffs for negotiation purposes today."},{"startTime":774.66,"endTime":778.62,"body":"Uh, we're seeing, uh, a"},{"startTime":774.66,"endTime":778.62,"body":"slowdown in business from"},{"startTime":778.62,"endTime":780.33,"body":"many of our shipping partners."},{"startTime":780.33,"endTime":783.54,"body":"We consider our customers partners,"},{"startTime":780.33,"endTime":783.54,"body":"and we're seeing somewhat of"},{"startTime":783.78,"endTime":787.95,"body":"a slowdown because there's so"},{"startTime":783.78,"endTime":787.95,"body":"much unknown that could hit."},{"startTime":788.26,"endTime":789.34,"body":"At any given day."},{"startTime":789.37,"endTime":793.57,"body":"Now, as, as you already know, some of"},{"startTime":789.37,"endTime":793.57,"body":"the tariffs have been pushed out 90"},{"startTime":793.57,"endTime":797.98,"body":"days with the exception of China there,"},{"startTime":793.57,"endTime":797.98,"body":"and, but there's just an upheaval"},{"startTime":797.98,"endTime":801.91,"body":"in our industry of freight volume,"},{"startTime":797.98,"endTime":801.91,"body":"where it's going, when it's coming"},{"startTime":801.91,"endTime":804.04,"body":"in, and what are we gonna do with it."},{"startTime":804.36,"endTime":809.52,"body":"That's been, that is being initiated"},{"startTime":804.36,"endTime":809.52,"body":"by these tariffs, so it's causing that."},{"startTime":809.61,"endTime":813.449,"body":"At the same time, we're seeing an"},{"startTime":809.61,"endTime":813.449,"body":"uptick in shipping customers or"},{"startTime":813.54,"endTime":818.97,"body":"partners in sending out new RFPs,"},{"startTime":813.54,"endTime":818.97,"body":"rf, QS, RFIs, because they truly"},{"startTime":818.97,"endTime":820.41,"body":"don't know what's gonna happen."},{"startTime":820.77,"endTime":826.199,"body":"So they're trying to, sure they're ready"},{"startTime":820.77,"endTime":826.199,"body":"for whatever hits us next on the tariffs."},{"startTime":826.65,"endTime":827.31,"body":"Um."},{"startTime":828.15,"endTime":830.849,"body":"I don't think the tariffs, this"},{"startTime":828.15,"endTime":830.849,"body":"is again, a personal opinion."},{"startTime":830.849,"endTime":835.05,"body":"I don't think they're doing what they"},{"startTime":830.849,"endTime":835.05,"body":"were intended to do, uh, by, by Trump."},{"startTime":835.589,"endTime":839.16,"body":"Uh, but again, I'm hoping"},{"startTime":835.589,"endTime":839.16,"body":"it's just a negotiation thing."},{"startTime":839.189,"endTime":844.319,"body":"The, the problem with tariffs are"},{"startTime":839.189,"endTime":844.319,"body":"if, if we keep going down that road,"},{"startTime":844.8,"endTime":846.93,"body":"the United States is not equipped."},{"startTime":847.785,"endTime":849.525,"body":"To compete with other countries."},{"startTime":849.525,"endTime":855.165,"body":"'cause our labor rates are so much higher"},{"startTime":849.525,"endTime":855.165,"body":"that if we truly wanna bring manufacturing"},{"startTime":855.165,"endTime":859.515,"body":"back a hundred percent to the states,"},{"startTime":855.165,"endTime":859.515,"body":"we can't compete with what that would,"},{"startTime":859.785,"endTime":862.125,"body":"uh, mean from a rate standpoint."},{"startTime":862.155,"endTime":866.115,"body":"'cause our, our average"},{"startTime":862.155,"endTime":866.115,"body":"income, our average."},{"startTime":866.76,"endTime":871.68,"body":"Uh, labor rate is probably three"},{"startTime":866.76,"endTime":871.68,"body":"to five times higher, maybe"},{"startTime":871.68,"endTime":874.05,"body":"more in China, Mexico, the same."},{"startTime":874.109,"endTime":877.859,"body":"So it, it's gonna cause problems"},{"startTime":874.109,"endTime":877.859,"body":"that we can't overcome if"},{"startTime":877.859,"endTime":879.209,"body":"those tariffs go into place."},{"startTime":879.689,"endTime":882.87,"body":"Uh, from an economic standpoint,"},{"startTime":879.689,"endTime":882.87,"body":"again, I'm hoping that's just being"},{"startTime":882.87,"endTime":885.27,"body":"used as kind of bait for negotiation."},{"startTime":885.27,"endTime":886.079,"body":"And it is."},{"startTime":886.079,"endTime":886.89,"body":"That's genius."},{"startTime":886.949,"endTime":890.699,"body":"You know that 'cause we're gonna get"},{"startTime":886.949,"endTime":890.699,"body":"some things that we need to have back."},{"startTime":891.209,"endTime":893.43,"body":"From a revenue standpoint in our economy."},{"startTime":893.459,"endTime":897.719,"body":"Well, and I'd be remiss if I didn't"},{"startTime":893.459,"endTime":897.719,"body":"say, Hey, you're talking to a Canadian."},{"startTime":898.02,"endTime":902.64,"body":"So the tariffs haven't been pushed"},{"startTime":898.02,"endTime":902.64,"body":"out for 90 days against Canada,"},{"startTime":902.969,"endTime":908.67,"body":"which here in Southern Ontario where"},{"startTime":902.969,"endTime":908.67,"body":"I live, we have a large economic."},{"startTime":909.075,"endTime":916.395,"body":"Uh, tie in to automotive and probably no"},{"startTime":909.075,"endTime":916.395,"body":"auto freight or automobiles that are built"},{"startTime":916.395,"endTime":923.115,"body":"in North America are literally go across"},{"startTime":916.395,"endTime":923.115,"body":"the border several times, typically before"},{"startTime":923.115,"endTime":925.215,"body":"the end of the manufacturing process."},{"startTime":925.215,"endTime":930.885,"body":"So it is definitely an upheaval at the"},{"startTime":925.215,"endTime":930.885,"body":"moment, and since Trump signed the last."},{"startTime":930.93,"endTime":934.05,"body":"Trade contract with,"},{"startTime":930.93,"endTime":934.05,"body":"uh, Canada and Mexico."},{"startTime":934.109,"endTime":937.02,"body":"Uh, I have opinions that I"},{"startTime":934.109,"endTime":937.02,"body":"won't express at the moment."},{"startTime":937.05,"endTime":940.349,"body":"Robert, how are tariffs"},{"startTime":937.05,"endTime":940.349,"body":"affecting your world?"},{"startTime":940.439,"endTime":945.089,"body":"Because as a lawyer, I gotta believe"},{"startTime":940.439,"endTime":945.089,"body":"contracts are being torn up at the moment."},{"startTime":945.449,"endTime":946.439,"body":"How does that work?"},{"startTime":946.469,"endTime":951.359,"body":"And we're seeing a, a fair number"},{"startTime":946.469,"endTime":951.359,"body":"of, you know, promised volumes."},{"startTime":951.72,"endTime":953.819,"body":"Uh, being just put on hold."},{"startTime":953.88,"endTime":956.939,"body":"We have customers that have shut down"},{"startTime":953.88,"endTime":956.939,"body":"their plants across the border, or,"},{"startTime":956.939,"endTime":960.48,"body":"you know, suppliers that have shut"},{"startTime":956.939,"endTime":960.48,"body":"down and, uh, for a period of time"},{"startTime":960.48,"endTime":964.89,"body":"just kind of waiting to play things out"},{"startTime":960.48,"endTime":964.89,"body":"so there's promised volume, promised"},{"startTime":964.89,"endTime":966.3,"body":"shipments that aren't happening."},{"startTime":966.3,"endTime":969.42,"body":"So that's kind of putting"},{"startTime":966.3,"endTime":969.42,"body":"some things on hold."},{"startTime":969.42,"endTime":969.48,"body":"Uh."},{"startTime":970.23,"endTime":974.76,"body":"Then there's also the, uh, kind of"},{"startTime":970.23,"endTime":974.76,"body":"the issues of, you know, new rates and"},{"startTime":974.76,"endTime":977.1,"body":"contracting with, with new business."},{"startTime":977.1,"endTime":981.75,"body":"Kind of how Carl alluded to sourcing"},{"startTime":977.1,"endTime":981.75,"body":"lanes and sourcing a, a capacity from"},{"startTime":981.75,"endTime":985.23,"body":"suppliers that maybe they're not working"},{"startTime":981.75,"endTime":985.23,"body":"with currently trying to beat the tariffs."},{"startTime":985.23,"endTime":988.8,"body":"So it's kind of been an interesting"},{"startTime":985.23,"endTime":988.8,"body":"thing with different addendums and"},{"startTime":988.8,"endTime":992.34,"body":"different waivers, just trying to"},{"startTime":988.8,"endTime":992.34,"body":"keep up with the changing business."},{"startTime":992.46,"endTime":996.63,"body":"Yeah, I never thought of, 'cause"},{"startTime":992.46,"endTime":996.63,"body":"I don't read the contracts, I'd"},{"startTime":996.63,"endTime":998.34,"body":"never thought of volume commitments."},{"startTime":999.03,"endTime":1000.53,"body":"As being part of the contract."},{"startTime":1000.53,"endTime":1002.6,"body":"But yeah, that's in a lot of contracts."},{"startTime":1002.63,"endTime":1007.52,"body":"And now in the current world with tariffs,"},{"startTime":1002.63,"endTime":1007.52,"body":"who knows what the volumes are gonna be?"},{"startTime":1007.52,"endTime":1011.78,"body":"Certainly there's a slowdown"},{"startTime":1007.52,"endTime":1011.78,"body":"right now, I believe in trucking,"},{"startTime":1012.11,"endTime":1015.17,"body":"uh, certainly in cross border"},{"startTime":1012.11,"endTime":1015.17,"body":"trucking that I'm experiencing."},{"startTime":1015.17,"endTime":1017.47,"body":"There's a. Absolute slow down."},{"startTime":1017.74,"endTime":1022.51,"body":"Have you seen, and totally off"},{"startTime":1017.74,"endTime":1022.51,"body":"base, and not in your wheelhouse,"},{"startTime":1022.81,"endTime":1027.13,"body":"but have you seen more trucking"},{"startTime":1022.81,"endTime":1027.13,"body":"companies going bankrupt in the state?"},{"startTime":1027.16,"endTime":1028.599,"body":"Have you seen any of that happening?"},{"startTime":1028.69,"endTime":1033.579,"body":"We've seen some consolidation"},{"startTime":1028.69,"endTime":1033.579,"body":"in the LTL side of the business."},{"startTime":1033.64,"endTime":1038.56,"body":"We've seen a lot of the larger truckers"},{"startTime":1033.64,"endTime":1038.56,"body":"that are running their own in-house"},{"startTime":1038.56,"endTime":1041.585,"body":"three pl. To take care of their overflow."},{"startTime":1041.615,"endTime":1044.765,"body":"I'm actually hearing of several"},{"startTime":1041.615,"endTime":1044.765,"body":"of them that are shutting down"},{"startTime":1044.765,"endTime":1046.444,"body":"or really pairing your brokerage."},{"startTime":1047.074,"endTime":1050.945,"body":"Operations back, they, they need"},{"startTime":1047.074,"endTime":1050.945,"body":"to keep their revenue and their"},{"startTime":1050.945,"endTime":1053.945,"body":"expenses more tied to their assets."},{"startTime":1053.975,"endTime":1057.965,"body":"I don't know statistically if there's"},{"startTime":1053.975,"endTime":1057.965,"body":"an uptick from a percentage standpoint"},{"startTime":1057.965,"endTime":1061.475,"body":"of bankruptcies right now, but there's a"},{"startTime":1057.965,"endTime":1061.475,"body":"lot of guys that have already just kind"},{"startTime":1061.475,"endTime":1063.544,"body":"of shut down the small mom and pops."},{"startTime":1063.935,"endTime":1067.324,"body":"If they can't make money, they're"},{"startTime":1063.935,"endTime":1067.324,"body":"in many cases better off just"},{"startTime":1067.324,"endTime":1068.764,"body":"shutting down their operations."},{"startTime":1068.855,"endTime":1069.004,"body":"Yeah."},{"startTime":1069.004,"endTime":1072.935,"body":"Now, are you, is Circle"},{"startTime":1069.004,"endTime":1072.935,"body":"Logistics taking on new co new."},{"startTime":1073.34,"endTime":1075.92,"body":"Trucking co companies as clients,"},{"startTime":1075.98,"endTime":1078.02,"body":"shippers or actual carriers?"},{"startTime":1078.14,"endTime":1078.86,"body":"Carriers."},{"startTime":1079.49,"endTime":1084.41,"body":"Uh, if I was a carrier that's"},{"startTime":1079.49,"endTime":1084.41,"body":"struggling and I need freight, is"},{"startTime":1084.41,"endTime":1086.36,"body":"Circle Logistics, looking for trucks?"},{"startTime":1087.29,"endTime":1088.879,"body":"We're always looking for trucks."},{"startTime":1088.91,"endTime":1092.21,"body":"You know, we've got what we"},{"startTime":1088.91,"endTime":1092.21,"body":"call a a three tiered program."},{"startTime":1092.21,"endTime":1094.37,"body":"First is use our assets."},{"startTime":1094.52,"endTime":1098.0,"body":"The second tier is very similar"},{"startTime":1094.52,"endTime":1098.0,"body":"to using our assets we work with."},{"startTime":1098.465,"endTime":1102.095,"body":"Several hundred small mom and"},{"startTime":1098.465,"endTime":1102.095,"body":"pops where they, they rely on us"},{"startTime":1102.095,"endTime":1103.625,"body":"for the bulk of their business."},{"startTime":1103.985,"endTime":1105.335,"body":"They're our core carriers."},{"startTime":1105.335,"endTime":1111.545,"body":"We're willing to work with any carrier,"},{"startTime":1105.335,"endTime":1111.545,"body":"even the larger carriers based on lanes."},{"startTime":1112.355,"endTime":1114.275,"body":"So we're always adding carriers."},{"startTime":1114.545,"endTime":1119.135,"body":"It's getting tougher and tougher"},{"startTime":1114.545,"endTime":1119.135,"body":"for new carriers to get properly"},{"startTime":1119.135,"endTime":1121.145,"body":"through the vetting program."},{"startTime":1121.535,"endTime":1124.955,"body":"We won't work with a carrier"},{"startTime":1121.535,"endTime":1124.955,"body":"that's only been in business for"},{"startTime":1124.955,"endTime":1126.755,"body":"a month or two or three months."},{"startTime":1126.755,"endTime":1131.885,"body":"So as, as, as new young startups"},{"startTime":1126.755,"endTime":1131.885,"body":"get their authority, they're not"},{"startTime":1131.885,"endTime":1135.365,"body":"necessarily gonna get freight from"},{"startTime":1131.885,"endTime":1135.365,"body":"a broker of our size or larger."},{"startTime":1135.785,"endTime":1138.755,"body":"Um, just because part of the"},{"startTime":1135.785,"endTime":1138.755,"body":"vetting is to work with carriers"},{"startTime":1138.755,"endTime":1140.195,"body":"we already know and trust."},{"startTime":1140.675,"endTime":1142.865,"body":"So, so we are seeing"},{"startTime":1140.675,"endTime":1142.865,"body":"that kind of movement."},{"startTime":1143.105,"endTime":1146.735,"body":"There's still a lot of small mom"},{"startTime":1143.105,"endTime":1146.735,"body":"and pops entering the marketplace."},{"startTime":1146.764,"endTime":1149.825,"body":"There's a lot of DOT licenses"},{"startTime":1146.764,"endTime":1149.825,"body":"hanging out there, and there's"},{"startTime":1149.825,"endTime":1151.655,"body":"a lot of active mc licenses."},{"startTime":1151.715,"endTime":1153.605,"body":"I mean, we all have to live."},{"startTime":1153.875,"endTime":1160.475,"body":"So if my entity was to go bankrupt, I'm"},{"startTime":1153.875,"endTime":1160.475,"body":"going to find some way to make a living."},{"startTime":1160.534,"endTime":1161.524,"body":"That's the way it is."},{"startTime":1161.929,"endTime":1166.04,"body":"And so there's, there's always"},{"startTime":1161.929,"endTime":1166.04,"body":"an ebb and flow, I think in every"},{"startTime":1166.04,"endTime":1167.84,"body":"business, but certainly in trucking."},{"startTime":1167.959,"endTime":1171.5,"body":"My dad owned a trucking company"},{"startTime":1167.959,"endTime":1171.5,"body":"and it's not around anymore."},{"startTime":1171.5,"endTime":1171.59,"body":"Mm-hmm."},{"startTime":1172.399,"endTime":1173.75,"body":"Not that I went bankrupt."},{"startTime":1173.75,"endTime":1177.83,"body":"It got purchased, which is also"},{"startTime":1173.75,"endTime":1177.83,"body":"happening a lot right at the moment."},{"startTime":1177.83,"endTime":1179.33,"body":"Mergers and acquisitions."},{"startTime":1179.659,"endTime":1183.86,"body":"So, uh, what else do we need to"},{"startTime":1179.659,"endTime":1183.86,"body":"know about Circle Logistics, Carl?"},{"startTime":1184.1,"endTime":1188.36,"body":"Um, well, we're pretty, pretty agile"},{"startTime":1184.1,"endTime":1188.36,"body":"and, and we can make adjustments"},{"startTime":1188.36,"endTime":1190.159,"body":"on the fly better than most."},{"startTime":1190.64,"endTime":1197.24,"body":"Uh, we've got, uh, enough of a sizable"},{"startTime":1190.64,"endTime":1197.24,"body":"staff to give whatever support is needed."},{"startTime":1197.3,"endTime":1201.59,"body":"And believe it or not, we haven't"},{"startTime":1197.3,"endTime":1201.59,"body":"shrunk in size since we peaked"},{"startTime":1201.59,"endTime":1203.81,"body":"at that 700 million revenue mark."},{"startTime":1204.26,"endTime":1207.05,"body":"We've settled in at the,"},{"startTime":1204.26,"endTime":1207.05,"body":"the low to med fives."},{"startTime":1207.74,"endTime":1210.62,"body":"But we're seeing our transaction"},{"startTime":1207.74,"endTime":1210.62,"body":"counts coming back to where"},{"startTime":1210.62,"endTime":1213.59,"body":"they were in 2018 and 19."},{"startTime":1214.07,"endTime":1215.449,"body":"So those are coming back."},{"startTime":1215.51,"endTime":1220.879,"body":"Revenue is down based on lower"},{"startTime":1215.51,"endTime":1220.879,"body":"fuel surcharges and, and more"},{"startTime":1220.879,"endTime":1222.35,"body":"capacity available out there."},{"startTime":1222.409,"endTime":1228.11,"body":"But we offer, the one thing that I"},{"startTime":1222.409,"endTime":1228.11,"body":"can tell any customers we offer access"},{"startTime":1228.199,"endTime":1233.09,"body":"to properly vetted capacity that they"},{"startTime":1228.199,"endTime":1233.09,"body":"need, um, from a carrier standpoint."},{"startTime":1233.419,"endTime":1237.32,"body":"We offer access to freight"},{"startTime":1233.419,"endTime":1237.32,"body":"from larger shippers that they"},{"startTime":1237.32,"endTime":1239.0,"body":"can't access on their own."},{"startTime":1239.449,"endTime":1241.909,"body":"Um, so, so we're truly sized, right?"},{"startTime":1241.909,"endTime":1242.81,"body":"We're not too big."},{"startTime":1242.81,"endTime":1243.949,"body":"We're not too small."},{"startTime":1244.385,"endTime":1248.885,"body":"To give, uh, asset value to either"},{"startTime":1244.385,"endTime":1248.885,"body":"side, whether it's a carrier or"},{"startTime":1248.885,"endTime":1250.205,"body":"whether it's a shipping customer."},{"startTime":1250.294,"endTime":1255.185,"body":"So I think that that is likely a"},{"startTime":1250.294,"endTime":1255.185,"body":"really good spot to wrap it up,"},{"startTime":1255.185,"endTime":1259.985,"body":"unless, Robert, do you have something"},{"startTime":1255.185,"endTime":1259.985,"body":"that you wanna throw in there?"},{"startTime":1260.135,"endTime":1261.034,"body":"A new carrier?"},{"startTime":1261.034,"endTime":1263.165,"body":"Obviously there's contracts involved."},{"startTime":1263.225,"endTime":1264.99,"body":"Robert probably wrote, huh?"},{"startTime":1265.3,"endTime":1265.59,"body":"Yeah."},{"startTime":1266.345,"endTime":1270.035,"body":"Well, I mean, if, if I'm gonna"},{"startTime":1266.345,"endTime":1270.035,"body":"come on to circle logistics, I'm"},{"startTime":1270.035,"endTime":1272.165,"body":"gonna have to sign some paperwork."},{"startTime":1272.375,"endTime":1274.055,"body":"What is the vetting process?"},{"startTime":1274.085,"endTime":1276.635,"body":"Is that a Robert question"},{"startTime":1274.085,"endTime":1276.635,"body":"or a Carl question?"},{"startTime":1276.725,"endTime":1278.195,"body":"Um, I'll let Robert determine that."},{"startTime":1278.195,"endTime":1281.345,"body":"I can certainly handle it, but I think"},{"startTime":1278.195,"endTime":1281.345,"body":"Robert might, may be able to as well."},{"startTime":1281.405,"endTime":1281.675,"body":"You,"},{"startTime":1281.68,"endTime":1282.635,"body":"you want me to handle it?"},{"startTime":1282.635,"endTime":1283.535,"body":"Do you wanna take it Robert?"},{"startTime":1283.595,"endTime":1287.435,"body":"I'll just kinda give the short and"},{"startTime":1283.595,"endTime":1287.435,"body":"sweet summary is we'll send you the."},{"startTime":1288.125,"endTime":1291.725,"body":"The onboarding link and everything"},{"startTime":1288.125,"endTime":1291.725,"body":"to sign up and kind of go"},{"startTime":1291.725,"endTime":1294.034,"body":"through the, the vetting process."},{"startTime":1294.034,"endTime":1297.185,"body":"And that includes, you know, looking at"},{"startTime":1294.034,"endTime":1297.185,"body":"your authority, looking at your safety"},{"startTime":1297.185,"endTime":1301.235,"body":"history, looking at your history with our"},{"startTime":1297.185,"endTime":1301.235,"body":"company, if you've worked with us before."},{"startTime":1301.655,"endTime":1307.085,"body":"And then, uh, you know, includes a"},{"startTime":1301.655,"endTime":1307.085,"body":"certain number of fraud verification"},{"startTime":1307.085,"endTime":1310.325,"body":"efforts through the different things to"},{"startTime":1307.085,"endTime":1310.325,"body":"ensure that you are who you say you are."},{"startTime":1310.445,"endTime":1314.915,"body":"And then, uh, you know, signing the"},{"startTime":1310.445,"endTime":1314.915,"body":"contract and showing us, you know, giving"},{"startTime":1314.915,"endTime":1317.105,"body":"us proof of insurance, your COI and."},{"startTime":1317.735,"endTime":1321.245,"body":"And then, um, you know, in addition to"},{"startTime":1317.735,"endTime":1321.245,"body":"a couple other things, maybe account"},{"startTime":1321.245,"endTime":1325.655,"body":"specific requirements or you know, where"},{"startTime":1321.245,"endTime":1325.655,"body":"depending on where the pickup is, maybe"},{"startTime":1325.865,"endTime":1327.635,"body":"you know, shipper specific requirements."},{"startTime":1327.635,"endTime":1332.105,"body":"But beyond that, then, uh, you know, once"},{"startTime":1327.635,"endTime":1332.105,"body":"you completed the onboarding through the"},{"startTime":1332.105,"endTime":1334.295,"body":"link, then you're, uh, active with circle."},{"startTime":1334.475,"endTime":1334.774,"body":"Right?"},{"startTime":1334.774,"endTime":1339.155,"body":"So just to kinda recap, you do a"},{"startTime":1334.774,"endTime":1339.155,"body":"fraud check to make sure they are"},{"startTime":1339.155,"endTime":1340.655,"body":"who in the heck they say they are."},{"startTime":1341.81,"endTime":1344.659,"body":"'cause fraud is, is just rampant today."},{"startTime":1345.05,"endTime":1349.1,"body":"Um, you're looking at their safety"},{"startTime":1345.05,"endTime":1349.1,"body":"scores and you're making sure"},{"startTime":1349.1,"endTime":1351.2,"body":"they, they have adequate insurance."},{"startTime":1351.8,"endTime":1355.49,"body":"Is that kind of the main"},{"startTime":1351.8,"endTime":1355.49,"body":"three, uh, components?"},{"startTime":1355.67,"endTime":1357.8,"body":"Yeah, I, I would say those"},{"startTime":1355.67,"endTime":1357.8,"body":"are the three big ones."},{"startTime":1358.43,"endTime":1358.49,"body":"Yeah."},{"startTime":1358.49,"endTime":1358.639,"body":"Agreed."},{"startTime":1360.245,"endTime":1360.665,"body":"Alright."},{"startTime":1360.815,"endTime":1362.525,"body":"Carl, anything to add to that one?"},{"startTime":1362.585,"endTime":1363.755,"body":"The vetting process?"},{"startTime":1363.785,"endTime":1367.085,"body":"No, I, I, I personally feel,"},{"startTime":1363.785,"endTime":1367.085,"body":"so, I've been vetting carriers"},{"startTime":1367.085,"endTime":1368.405,"body":"for years and years and years."},{"startTime":1368.465,"endTime":1373.205,"body":"I believe our vetting"},{"startTime":1368.465,"endTime":1373.205,"body":"process is probably top 1%."},{"startTime":1373.295,"endTime":1376.16,"body":"If, if you look at every broker out"},{"startTime":1373.295,"endTime":1376.16,"body":"there that's gonna vet a carrier,"},{"startTime":1376.88,"endTime":1379.715,"body":"I. Um, we vet them based on safety."},{"startTime":1379.715,"endTime":1384.514,"body":"We vet them based on lane and size, age of"},{"startTime":1379.715,"endTime":1384.514,"body":"the company we're gonna be dealing with."},{"startTime":1384.575,"endTime":1386.825,"body":"We vet 'em based, uh,"},{"startTime":1384.575,"endTime":1386.825,"body":"slightly differently."},{"startTime":1386.825,"endTime":1389.795,"body":"You know, they, everyone's gotta"},{"startTime":1386.825,"endTime":1389.795,"body":"pass the same safety regs of the"},{"startTime":1389.795,"endTime":1392.615,"body":"safety part of the vetting process."},{"startTime":1393.095,"endTime":1394.955,"body":"But we have different rules set up."},{"startTime":1395.48,"endTime":1400.31,"body":"For, uh, carriers that are"},{"startTime":1395.48,"endTime":1400.31,"body":"running hot shots versus expedite,"},{"startTime":1400.31,"endTime":1402.11,"body":"freight only, versus air freight."},{"startTime":1402.41,"endTime":1405.47,"body":"We, we manage that a little bit"},{"startTime":1402.41,"endTime":1405.47,"body":"differently while at the same"},{"startTime":1405.47,"endTime":1407.48,"body":"time our systems are built."},{"startTime":1407.48,"endTime":1411.47,"body":"So if you're a large shipper, you tell"},{"startTime":1407.48,"endTime":1411.47,"body":"us what you're willing to use and not"},{"startTime":1411.47,"endTime":1416.015,"body":"use from a carrier standpoint, and we"},{"startTime":1411.47,"endTime":1416.015,"body":"can vet that by the transaction and,"},{"startTime":1416.12,"endTime":1419.42,"body":"and make sure you're getting only the"},{"startTime":1416.12,"endTime":1419.42,"body":"carriers that fall in the, the, the"},{"startTime":1419.42,"endTime":1421.52,"body":"arena that you want them to as a shipper."},{"startTime":1421.61,"endTime":1422.06,"body":"Perfect."},{"startTime":1422.75,"endTime":1424.16,"body":"Robert Carl."},{"startTime":1424.639,"endTime":1430.28,"body":"Thanks so much for coming on the show and"},{"startTime":1424.639,"endTime":1430.28,"body":"letting me learn about Circle Logistics."},{"startTime":1430.37,"endTime":1431.24,"body":"All right, thank you."},{"startTime":1431.24,"endTime":1432.08,"body":"Appreciate the time."},{"startTime":1432.11,"endTime":1432.98,"body":"Thanks for having us."},{"startTime":1433.1,"endTime":1433.879,"body":"Thanks Carlo."},{"startTime":1433.879,"endTime":1436.07,"body":"Robert, really enjoyed the interview."},{"startTime":1436.67,"endTime":1441.44,"body":"And for you, our listeners and"},{"startTime":1436.67,"endTime":1441.44,"body":"our viewers, please share this"},{"startTime":1441.44,"endTime":1446.57,"body":"episode, uh, with somebody"},{"startTime":1441.44,"endTime":1446.57,"body":"that you think would benefit."},{"startTime":1446.99,"endTime":1451.82,"body":"And don't forget to, uh, click the"},{"startTime":1446.99,"endTime":1451.82,"body":"like button and comment and subscribe."},{"startTime":1452.18,"endTime":1454.01,"body":"Alright, that's it for this week."},{"startTime":1454.505,"endTime":1455.885,"body":"A pleasure to serve you."},{"startTime":1456.485,"endTime":1458.015,"body":"We'll see you next week."}]}