Michael Gerdin on technology
From Ep. 62 | Mike Gerdin | Chairman & CEO of Heartland Express · · Watts Group
“We have four companies: Heartland Express, Smith Transport, CFI, and Millis Transport. We can see all the trucks all day every day on four screens.”
On , Michael Gerdin, Chairman of the Board, President & Chief Executive Officer at HEARTLAND EXPRESS INC, spoke about technology during Ep. 62 | Mike Gerdin | Chairman & CEO of Heartland Express on Watts Group.
About Michael Gerdin
In an October 2024 podcast, Michael Gerdin discussed the history and operations of Heartland Express, a trucking company he leads as Chairman and CEO. He noted that the company went public in 1986 with $21 million in revenue and about 120 trucks. Gerdin stated that Heartland Express now operates four companies—Heartland Express, Smith Transport, CFI, and Millis Transport—and has acquired about 10 companies over the years, including Barry Smith Transport in 2022. He said the company strives for 99% on-time performance and has been named FedEx carrier of the year for 18 consecutive years, with 30,000 pickups and deliveries in the past year and six late. Gerdin also commented on economic conditions affecting the trucking industry. He said that during COVID-19, home improvement orders caused a surge in freight demand, but manufacturing shutdowns led to supply chain disruptions. He noted that in 2021, over 50 boats were waiting outside Long Beach, California, due to capacity limits. Gerdin stated that ordering has since slowed due to inflation, rising interest rates, and reduced discretionary income. He added that American credit card debt has exceeded one trillion dollars for the first time, and that the national debt has grown from $24 trillion to $33 trillion, attributing inflation to federal money injections such as the Paycheck Protection Program.