Thank you for your interest in Velocity Express.

Over the past three years, my executive team and I have had the opportunity to lead this company through a dramatic transformation.  After hearing our story, I hope you’ll be as excited as I am about the new business model we’ve built and the prospect of things to come for Velocity Express.

The cornerstone of our culture is Real Time Delivery, which we define as delivering what you need, where and when you need it.  Motivated by the goal of keeping that promise for our customers, over the past 3 years we have:

• Converted our employee driver workforce to an independent contractor model providing greater cost efficiency for Velocity Express and flexibility for our customers 

• Established the strictest driver qualification standards in the industry

• Invested over $20 million to build the industry’s most accurate digital tracking, route optimization and online reporting systems

• Developed a “best in class” implementation team whose goal is to ensure seamless transitions

• Standardized and centralized operations, including a Customer Experience Center, to provide consistent, high quality customer service nationwide

• Improved our internal operations efficiency to strengthen our balance sheet so that we can continue to reinvest in our business

• Compiled an outstanding new management team through external hiring and promotions of internal personnel 

The culmination of this transformation came with the acquisition of a leading competitor, CD&L, in August, 2006.  The resulting critical mass has enlarged our customer base, expanded our work force and provided our shareholders with a strong balance sheet, a strong income statement and strong cash flow.

Although I’m certainly proud of what we’ve accomplished so far, these last three years are just the first three years in the future of a business and an industry that are poised for growth and prepared for change.  I hope you will monitor our progress in the years ahead, and I invite you to be a part of it.


Sincerely,

Vincent A. Wasik