Tue, Sep 20, 2005
Gauging The Impact
Cargo Connection Logistics says the
recent bankruptcy filings by Delta and Northwest Airlines will have
negligible impact on the operations of its wholly owned subsidiary,
Cargo Connection Logistics Corp.
Cargo COO/CFO, Scott Goodman, said that the company was owed a
minimal amount of money from each airline and will continue to
perform business on behalf of the cargo divisions of each
airline.
"The good news is that we were owed a minimal amount of money
for outstanding invoices and both organizations are making payments
within terms," said Goodman. "Moving forward as both companies are
in reorganization, we will be paid promptly for any services
rendered. Additionally, while Northwest has not named a critical
vendor list, we will continue to work with them and prior to its
filing we were named a major provider out of New York to their
cargo destinations. Presently, we service Delta throughout our
transportation network. There definitely appears to be significant
opportunity to expand our business with both carriers."
Cargo Connection Logistics Holding, Inc. consists of Cargo
Connection Logistics Corp. and Mid-Coast Management, Inc., which
are both headquartered in Inwood, NY. The Company also has offices
in Atlanta, Charlotte, Chicago, Columbus, Miami, New York and
Pittsburgh. The companies provide a comprehensive variety of
transportation and warehouse capacity services to shippers
throughout the nation. Currently the two companies have a total of
88 employees.
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