Expeditors International 2002 Annual Report
Hard Work
Letter to Shareholders - English
Financials
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Expeditors International
Part of success is simply being consistent
Cash seemed unpopular not so long ago. We thought we'd hang on to some, anyway.
Cash
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At times, a herd mentality seems to take over in business and, right or wrong, companies play follow-the-leader – sometimes right off a cliff. We think real leadership derives from understanding your customers, your competition and what really matters about your business. Not from following the latest trend. When acquisitions were popular, we chose organic growth. When cash went out of style, we kept some anyway. Remaining true to this way of doing business means that, at times, Expeditors will seem to be out of step with the prevailing popular wisdom. More often than not, it means we’ll actually be a step ahead.