XPO

“We bought it for about Three billion dollars. Roughly half of it was equities. It really bought it for a billion and a half dollars plus, plus some leverage. Today it's worth something like fifteen billion dollars, and that's after having taken out many, like …”

“When I bought Conway, we levered up to about four times, a little more than four times, but we very quickly sold off, I mentioned that truckload division, for five hundred fifty million dollars, boom, we paid down a whole bunch of debt right from that.”

“And we probably put a billion dollars into it on the back of that. And the stock was extremely dislocated.”

“Probably one of the best capital allocation decisions I've seen in my investment career. We bought a company called Conway. It was a complete pivot from the stated strategy at the time.”

“In our business, a higher service level enables you to sell supplemental services to the customer, and these typically come at a higher margin. It also enables you to gain more profitable market share because your customers want to do business with you.”

“We have 40,000 people in the company. Here in North America, we have about 23,000 people.”

“And what I learned from Brad is it doesn't matter what the size of the check is. That's the only thing that matters, which is the return you're going to get on the size of the check.”

“So we have a small team of analysts that every weekend, Actually pulls together research reports from the industry, from all of our competitors, from what we're hearing about ourselves in the media, from customers, kind of research on their companies and what …”

“Whenever you give somebody only constructive feedback, and you're only telling them where they are falling short, You are missing out on them potentially being great. And that feedback is now rooted in molding them into your own perspective, into your own solu…”

“One, there's a rule of not using devices and being focused on the person speaking. Number two, only one person speaks at a time. So there is something very powerful of giving somebody your full attention and listening to what they are saying, because that lead…”

“Every time one of our drivers or dock workers Scans a pallet on the dock, they automatically see two dials on their handheld. The first one tells them what their productivity is versus their peers, so they can see effectively if you had 10 people working the d…”

“And we were able to effectively identify 28 properties that were the ones that we wanted to buy. And We ended up spending nearly a billion dollars on that real estate.”

“Every single day, there's approximately 10 KPIs that we monitor, and for each one of those KPIs, not only we look at the first derivative change of that KPI, the first derivative is It's up five percent. It's up two percent. It's down two percent. But also wha…”

“When I give constructive feedback to my team, I never make it subjective. I always grounded on data.”

“So then we build systems where we can actually track back our service performance to the person level. And then we actually created coaching so that if you cause a damage as a person on our docs, then you can actually go into a specific training program and ge…”

“Depending on the meetings and not, not all of them, we use AI, but any type of structured meeting where we are discussing effectively, say an operating review, we do use AI to both take notes and summarize the meetings. And in many cases we send back out the t…”

“I always subscribe to the fact that the senior folks, including myself, I always speak less. I always ask, give my takeaways or my questions at the end of the meeting. To make sure that there's no biased thinking. I think Jeff Bezos had a similar perspective w…”

“And a lot of times what people have identified as potential areas of issues end up being the reason why somebody fails at work.”

“It's not live yet. It's gonna go live over the next few months, but effectively as a supervisor, whenever I take the photo, AI automatically tells you what it found wrong in your trailer. And now we can actually fix that before you actually send that trailer o…”

“I spend a lot of time in the field. I actually like to go to our docks, to our terminals, where I get to sit with our drivers and dock workers. And usually I go there early in the morning and I sit in the break room. And I sit with our drivers and I tell them,…”

“I'd say I have a very analytical view of risk, but I lean towards being more risk averse than risk taking. And I do think part of the upbringing, but more importantly, my engineering education is what kind of governs some of that approach.”

“When you look at our, say our workforce here in North America, we have about 23,000 people. 18,000 out of the 23,000 are either truck drivers or dock workers.”

“When you're under pressure, it's one thing to be in a bomb shelter and your neighborhood is getting bombed versus any other type of pressure you're seeing in business or in life.”

“If you think about monthly operating reviews or weekly staff meetings, all of these are effectively the material is sent ahead of time, which has A lot of information going back to what I mentioned about the KPIs, about every KPI, how it's trending, and then r…”

“And the other thing I do is also I do every morning, I spend about 15 minutes to 30 minutes as I usually get myself in a calm place. And I think about every decision or every Aspect of things I'm going to do for the day. And I inform it based on what I read ov…”

“He's somebody who started eight multi-billion dollar companies from scratch and in different industries.”

“If an A player walks into your office and say, Mario, you know what? I don't try to talk me out of it. Maybe my wife is moving to a different state and I, you know, I took a job with another company and You know, don't try to talk me out of it. This is done. I…”

“Now, if you're only looking at the downside, it's very easy to say, I'm not gonna, you know, I'm not gonna go there because that's too risky. However, if you look at the upside and your probability adjust the upside Of whatever area you're looking at and the r…”

“One of the first things that we did was change compensation plans, so effectively, as opposed to compensation be driven only by growing, say, revenue and profits, to have a portion of the compensation plan to be driven by improving our service product to the c…”

“What I typically do is actually have a notebook with me, and every time I hear all these ideas, I write them down. And then when I get back to the office, we actually put them in a email that I sent to the top hundred people in the organization and say, these …”

“I find the best professionals, you don't have a distinction between the two to a certain extent. Work is part of life, the same way that life is part of work. So effectively, it's a circle. You do these things in a very interchangeable way, whether you're spen…”

“A lot of companies do performance reviews once a year. Or maybe twice a year. I don't believe in that. I think performance reviews should be done on a daily and weekly basis. You gotta give a person feedback that what you're doing here is fantastic, and what y…”

“I do find that a lot of leaders spend time on what's the output, but ultimately you gotta spend time on the inputs. You gotta spend time on the action plan that changes the output. These are the things that you can control to change a certain outcome.”

“If you use it just to hold people accountable and have a very strict set of rules, then of course, you know, you're not going to have a lot of satisfaction with that. If you're using it as a way to elevate your team, to coach them, to teach them how to do thin…”

“For every operators that owns a P&L, a profit and loss statement, they actually have an FP&A resource that is telling them what are the levers So where is, where are your metrics trending and what all the levers that you can pull to drive the outcomes? And are…”

“So for example, I don't watch TV. I don't play golf. I don't, you know, have for me, I'm either working and with my team and the company that I love and being able to drive better outcomes. Or spending time with my family, with my kids, and do amazing things w…”

“We bought it for about Three billion dollars. Roughly half of it was equities. It really bought it for a billion and a half dollars plus, plus some leverage. Today it's worth something like fifteen billion dollars, and that's after having taken out Many, like,…”