Global Trade This Week – March 7th, 2023

What’s going on in Global Trade this Week? Today Doug Draper of Inland Star Distribution and Trade Geek Pete Mento of Mento LLC cover:

3:20 -Nobody Seems to Have a Clue About Export Compliance
9:32 -EVs Hitting Strides for Final Mile Delivery. Hype Falling for Long Haul.
14:55 -Halftime
24:10 -Over 1500 Derailments on US Tracks a Year. How are we not talking about this?
31:10 -Fedex’s New Sales Strategy Around Possible UPS Strike

• Full Show Transcript

  Keenan Brugh 0:00

  You're watching Global Trade This Week with Pete Mento and Doug Draper.

  Doug Draper 0:09

  Hello, everyone and welcome to a another edition of global trade this week. I am your host, Doug Draper. Coming to you from a hotel room in the beautiful city of Fresno, California. And on the other side literally this time it's on the other side of the country from where I am is my good friend partner in crime Mr. Pete mento. Pete how's it gone?

  Pete Mento 0:34

  Good, Doug. Doug, you love our audience so much? That you woke up this morning? Took a shower, you got to dress we up at 5am today to get ready for the show. So what you did

  Doug Draper 0:46

  yeah, it's six 6am I gotta have my button the chair so dedication for our viewers that global trade this week.

  Pete Mento 0:54

  And that's that's love pal. That's love like you know I mean it's still my nine o'clock for me I like a regular day. I even I wouldn't get my hair cut this morning when saw the barber and you know seriously is nothing Oh yeah. What? Some hair dug myself some hair.

  Doug Draper 1:11

  What time does the barber shop open where you're from?

  Pete Mento 1:15

  Um, this kind of comes up like six a couple days a week but I went in at like you know seven I mean it's not it's not Doesn't your barber open up or do you go to a hairdresser Doug Are you are you are you that are you that bougie

  Doug Draper 1:31

  Are you kidding me? I'm we're pretty common. I I've had like five different barbers depends on who's open and what so I don't go 7am

  Pete Mento 1:41

  I think we should have we should have Kenan do like a full blowout like we should have decondition it and then have you know Amy take her Dyson. Her like your air roller. She's got up there and just like fully 1980s rock chick blow out his hair. Tease it up. We'll get some aqua net going on it do the whole bit.

  Doug Draper 2:00

  Yeah, put a fan in front of them. So it's got Oh, yeah,

  Pete Mento 2:03

  yeah, please some Whitesnake. What's all going on? I think that'd be pretty awesome. Laurie kina knows who Whitesnake is. Oh, he

  Doug Draper 2:10

  does. Yeah,

  Pete Mento 2:11

  he thinks Oh, sure. Oh, we'll find out at the end of the show. That'd be pretty therapy. I'd be really upset if someone Keens age didn't know who Whitesnake was that would bug me.

  Doug Draper 2:21

  Yeah. Yeah. It's crazy. So quick story. I was skiing last weekend. And you know the lift is when you're getting ready to get on the on the lift. They always crank some type of music. And it was Jesus now I just forgot the song.

  Pete Mento 2:40

  Deep Purple. Oh, smoke in the water smoke

  Doug Draper 2:43

  on the walk now. It's shit this paper? Yes. Yeah. And it was, ya know. And anyway, this gal behind me was talking about how her son, you know, likes the song or whatever. But the cool thing is, she's like, Yeah, that song needs a little more cowbell. And I absolutely understand the reference. They were fast friends all along after that. And so needs more cowbell. Good. Good. Good accent. They're very fun. And

  Pete Mento 3:16

  it's my Christopher Walken. For the day. Yeah.

  Doug Draper 3:19

  All right, let's get this party started. So you lead us off?

  Pete Mento 3:23

  Yeah, so Topic number one today is, is a kind of a tough one for for trade professionals. So if you're a compliance person, like, if you ever go to icpa, that you should come with me to the international compliance or all come on, we're going to be that way. Right. So that and this is this is the type of anti trade nerd bias that holds my people down. That sort of an attitude, man, you know, there's a lot of free today CPA, so you know, what, bring light want to rethink? You might want to rethink that response, my friend. Okay. Yeah, so you go to icpa and it's just chock full of true professionals. And I would say that the maybe 70% 70% Turn off my never ending, creator of noises and beeps and boops Yeah, that constantly goes on during our show. 70% I'd say of the people there primarily would consider themselves to be import trade compliance professionals. So that's a big reason for that is import compliance. A lot of times can result in cost savings, cost recovery cost reductions. So your boss is like, Hey, you're gonna get me a check for that duty drawback Right? Or you're gonna save me money and that's why they're very popular. You'll have some people that understand export compliance, but they're a sliver, like a sliver of my my people. And then you'll have you know, people who understand bits of both But they're still usually much stronger, uninformed compliance. And they understand export compliance, like, Yeah, but it's pretty rare to find people who really understand export compliance. And that's, that's a shame buddy, because you know, we spoke a little while ago about the, just this feeling I had in my gut, that they were going to recover that balloon off the coast of the Carolinas, and it was just going to be chock full of American technology. And there was an article that was very put up on LinkedIn, there's a couple of American companies that are like, like, they're like biting their fingernails right now. Because they have, they have financial stakes in Chinese companies. And they have, they have taken technology that was that was probably more likely than not, would have been used in this type of platform. And they're just terrified, terrified at that knock on the doors coming. And sort of the whole point of my rants on LinkedIn this week was this precious few people that have been well trained, and sort of tried by fire on export compliance, and we need more. And if you want to be a very employable, sought after, in pretty much indispensable power, member of the trade community, you need to export compliance, because export compliance enforcement is Bo Rudall, these guys are nasty. And every year, they just get more and more money for enforcement. Every year, they get out there, and they're more and more aggressive. And I think because of our heightened stance that we have right now the Chinese, you're gonna see them out in the marketplace out in the environment, just being tougher and tougher on exporters. So consider this, you know, your double secret probation final warning, folks, if you don't, if you don't know a lot of export compliance, you need to learn it. If you're in a position where you can hire people do it. And Doug, man, come to icpa with me, these people are fun. You don't think so? But the fun, the fun people?

  Doug Draper 6:57

  I don't know. So two things come to come to mind on that one. One is, in order to export something, you have to make something right. So I think that's true, bigger statement, two things that are starting to migrate that we've talked about reshoring and bringing things back to the United States, but I think it's emblematic. i She's I've never used that word before. So hopefully, it fits well in that comment. But yeah, it goes the fact that there's not as much stuff being made in the United States. So there's not as many exports in the military and ITAR related type of things. But I think the fact that most people are not as well versed in your industry, in my simple view of things is a reflection that we just import a hell of a lot more things than we export. That's the first thing that comes to mind. Secondly, we're on the same team. So hopefully, the compliance isn't punitive. It's more educational, but I get it, that's, again, maybe a little naive on my part. So two comments, those are mine on the topic.

  Pete Mento 7:58

  You know, quick follow up on your second comment. So the the export compliance has a lot to do with national security, it has a lot to do with keeping our scientific greatness, you know, our sort of accelerated scientific greatness out of the hands of other countries who just want to steal it. They just want to steal it, they can't make it themselves. So they want to co opt our, our scientific advancement. So keeping our advanced scientific creations out of the hands of people who just really want to reverse engineer it and steal it. That's a big part of it. And knowing if we sent it to someone, how many of these things that are very special were sent out who they sent out to? So now we can follow the trail of breadcrumbs to figure out how this thing that came from America ended up being stolen and recreated by somebody that's a big part of export. And, you know, a lot of this stuff that we're controlling that export compliance is important, because it's the lifeblood of our economy. It's just very specialized, high value exporting stuff, Doug. So that's exciting stuff. And you're in Denver. Well, not right now. But you and the button pushing rookie are both in Denver, and that is a extremely important, vital, vital, strategically important part of our country's economy when it comes to high and export. So a lot of very great people. Great people that are out there, friends of the show, who are fantastic at exporting plants, particularly our friends out there, Sierra Nevada Corporation, so Yeah, good

  Doug Draper 9:26

  point. Good point. Proud of all that here in Colorado. All right,

  Pete Mento 9:32

  my buddy, what's your first topic? Yep,

  Doug Draper 9:33

  yep, yep, mine is related to electric vehicles further referenced in this rant as EVs. So one thing that is transpired that I've seen is that the electrification of the final mile is really starting to take hold. You know, you've talked about the five categories of innovation. There's like the innovators, I think it's first adopters, early majority, late majority, and then then the kind of losers, if you will, that missed the boat. So I think the we've gotten away from the innovator stage. And now we're in the early adaptors, it just seems like everybody in their dog is starting to come out with a solution for final mile, which is perfect. Because it is a battery that is running things. And the distance traveled is very short. So I think it's awesome. That the, that the electric vehicle is starting to take full. At the same time, I think that's just where a lot of attention is being being drawn. Because electrification of long haul, meaning the Nikola, and all these semis, they're going to be on the road with batteries. I think it's starting to fire a file off on the on the wayside fall off on the wayside. And effort, energy and interest is really going to the final mile. And I have to give credit, Pete because I know that you've had their back and I've poked fun at them time and again, but I will give the United States Postal Service, a little street cred here. It's low hanging fruit, because a lot of what we see out there on a day to day basis is the delivery trucks, not the not the semis. But I read they want to electrify like 66,000 of their postal trucks by 2028. They're trying to focus most of those purchases of those vehicles made in the US. And you know, from the largest federally backed fleet. I think it's kind of cool that, you know, they're putting their money where their mouth is walking the walk as they talk to talk. So so I like it. I really like the fact that electrification is starting to take hold, it's out of the, hey, let's test this and sell a couple of 1000 trucks to this company or that company. And I think now it's kind of getting over the hump. And I think we're gonna see it continue to evolve and become more, more commonplace. And I like it. And you know what, kudos to the United States Postal Service for kind of leading the charge and everything else, they need to continue to market the hell out of that thing. So people have some positive spin on what, what the Postal Service is doing to try to change. Perception. So that's my take on the electric vehicle. St. Pete,

  Pete Mento 12:18

  who are you? And what have you done with Doug? That's the first Invasion of the Body Snatchers? What? Why is Doug Draper saying nice things about the electrification? I don't know. I

  Doug Draper 12:30

  don't I know mile electrification and plus, maybe it's the fact that I'm not at altitude anymore. And I'm in Fresno, California. But yeah, anyway, it's the final mile.

  Pete Mento 12:41

  What's your saying nice things about the Postal Service. I don't know who you are, man. I don't know if you know, find me and find me find me another logistics firm that can deliver the value that the US Postal Service can every day, like clockwork, each crap, whatever, I'm not gonna, I'm not gonna start there. I'm gonna I'm gonna shockingly, like, make your point for a change here. In that tractor trailers, like the electrification, tractor trailers would be awesome. If these companies would deliver their damn tractor trailers. You know, Tesla was supposed to be on the road with these things by now. And I don't know that they've actually delivered it, any of them. But like, it's it's fabulous that they want to electrify these fleets of trailers. But in order to do so you must sell your trucks and deliver them to the people who want to put them on the road. I mean, that's it's kind of the fundamental business principle of shaking up the whole industry is actually delivering your trucks. So that's, that's your me crazy, but I'm on the postal side. It just makes sense. If you can deliver pizzas and deliver and deliver coffee on an electric scooter, you should be able to deliver packages and deliver mail. And because it's done in a relatively small geographical said, that it should be something that should be dependably charged, and you should be able to do the math on how far you can do it, how long you do it, and be able to charge it up. So this is just just math. And with with the fact that these fleets are getting old, it was time to turn them over. It was a smart investment, and makes everybody happy. But I agree with you. It's not well marketed, and it needs to be but the Postal Service is spending their money and investing on delivering for you, Doug, not marketing. They're all about service. So they're not so concerned about tooting their own horn like

  Doug Draper 14:52

  Yeah, well, we'll leave it at that. Here's one of the fun sections. I was gonna say funnest, but I checked myself because we have a more audience and they would probably tear me apart for that. So the one of the most enjoyable parts of our show Pete is halftime, brought to you by CAP logistics and Keenan, Keenan steam pushing the buttons is the time when we can talk about whatever the heck we want to talk about which, which is always fun. I love seeing your halftime comments. And I would say most of the time I just shake my head like where's this? Where's this one gonna go today? And if there wasn't one where I was gonna say, where is this one gonna go? today? It is today's topic that you're bringing to the table. Pete So let it rip.

  Pete Mento 15:37

  Yeah, hey, listen, don't freak out. This is probably not what you thought I was going to talk about. But this weekend, was the was it was a phenomenon was a cultural phenomenon waves people didn't realize it was a technical marvel to me. This weekend at 10 o'clock Eastern times last past weekend on Netflix, Chris Rock, arguably one of the greatest standup comedians in the world. And depending on who you speak to one of the most important voices in comedy, got on stage live in Baltimore, Maryland, and get his set. And he did a relatively tight 60 minute set. He was a few minutes over. But he streamed live to what we're understanding now was was literally 10s of millions of people. We don't have the final numbers yet. But they're saying that it was somewhere in the neighborhood worldwide of somewhere, maybe 50 million people watch that live. Okay, so 50 million people watch this man, do a live set. And by his own admission, he flubbed up one joke, but still 15 million people or so watch it live. And then who knows how many people or 50 million streams have you will watch it live after that, it went off pretty darn well. And technically, without a hitch, you're probably you're probably worried I was going to talk about the content of the show, which is not what I'm going to do today. What I'm talking about, more importantly, is this was a fabulous way for people to see live comedy. Since the pandemic, one of the problems that we've had in the comedic world is that folks are not going to see live music. They're not going to see live theater. And they're certainly not going out to see live comedy. If you have not seen Chris Rock Show, watch it and watch it live. There's a high wire act that comedians have to do when they're up on stage is a high wire act that life theater and live music does as well. What he says on stage, if you think it's funny, great. If you don't, that's great, too. That's what art is all about. But I'm asking all of you, at some point to take some time, buy a ticket and see a live performance because being an artist is hard. I can tell you from my own personal experience, getting up on stage and telling jokes and telling having people tell you that you suck to your face. Not exactly easy. But go out there and support artists and wide venues wherever you have a chance. See Doug had nothing to worry about. And so that's my halftime. So Doug, go ahead. And let's hear about your halftime buddy. Yes,

  Doug Draper 18:23

  it's something that affects 48 states in our country, except for two it is referred to the uniform Time Act of 1966, otherwise known as Daylight Saving Time. So I'm going to give a couple of takes on it a couple of statistics and give you my personal take. And then I want to get your read on on this whole time change thing. So contrary to popular belief, it wasn't related to farming. It was back in World War One, when they were looking to the government in the US is looking to conserve energy. So the longer I've stayed daylight, the less coal and fuel things were needed to keep. I keep everybody warm. So the whole idea was it was called war time. And then around during World War Two, it also transpired and oh, wait, hold on a second, Pete. My take is that during World War Two, they kept it there wasn't a weekly or wasn't an annual change. They basically had as a place for about two years. And then they did the same thing from like 90 or excuse me, 73 to 75 where it did not switch back and forth. Again, that was during the oil embargo. Back in the early 70s. Hawaii and Arizona only two states that don't observe it 65% of the Year is actually on Daylight Saving Time. 70 per 70 Other countries participate in the Fed has to vote federal government has to vote to make any changes to keep it on one And timezone are the other. And the one thing here Pete is it's called Daylight Saving singular, daylight saving time, not Daylight Savings Time, which I know most people just kind of, kind of rifle for. So here's my take, I can really care one way or another, you know, people talk about the sleep and how it's important, and it screws up your system and whatever. Has anybody ever heard of jetlag, right, and people travel, a lot more than one timezone. And everybody still survives, and everybody changes their sleep. So, you know, I don't really care one way or another, you could argue for both sides of it. So I don't care enough to make it a topic or a comment. I wanted to make it some awareness today. But Pete, what's your take on daylight savings time?

  Pete Mento 20:48

  Yeah, it shouldn't take are, first of all, it makes me very happy at one point of the year when I go to church every Sunday. And then immediately after church, Amy and I go to the same diner every Sunday. And that Sunday, it's not as crowded because people oversleep. It makes me happy. Because as you know, I hate large crowds of people. And then I also love it when I'm flying on a Sunday. And everybody has forgot to set their clocks back. And nobody's on the plane because they all missed their flight. So I like that part of it as well. So those are both instances where Daylight Savings making people's lives miserable makes me happy. I do, I do hate the darkness of winter. Any way that we could bring some extra light into my life would be lovely. The total timing thing in the world, China has one giant timezone across all that geography. The fact that Arizona just sort of like sticks their middle finger up to the whole country in Hawaii do kind of like that. Being a guy from New Hampshire, I kind of wish we did the same thing. I don't see the point of it anymore. So I'm not sure why we continue to do it. The whole timezone thing is like it like India, I think is 10 and a half hours ahead of us. 10 and a half and a half dog, not 10, not 1110 and a half hours, which has always been a pain in my ass every time I fly over there. Yeah, so time zones, and all the rest of it always annoys the crap out of me. But I don't understand the whole point of daylight saving anymore. I'm not sure why we do it other than to frustrate me twice a year on Sunday when I get up for church because either I'm tired. Or I wake up for no good reason and have an hour with nothing to do.

  Doug Draper 22:44

  Well, here's the deal. And then we'll jump over is that you want more daylight, it is called the solar system. And it doesn't matter when we put in the extra hour, the amount of daylight is going to be the same. You can spin it and move it want to listen to smart ask there is no more daylight to be grabbed. It's just changing the time.

  Pete Mento 23:05

  This is smart. So I had to I had to like you know, be in St. Petersburg, Russia when the sun didn't go down for weeks. Okay, so kiss my ass. And I've had to be, you know, all over the Nordic, Nordic countries, when the sun doesn't go down, and I go, and then it goes in the other direction and the sun doesn't come up. So I understand the tilt of the earth and all the rest of it. Alright, so some of us weren't going to college living in the frat house doing beerbongs We were actually in school learning about how the stars all work. So I understand that. But to a degree, that extra hour would make a difference in both the beginning and the end of this. And don't make me go all scientific on you their sales guy, because I'll do it. Right. I can't wait for the comments on this one because you're gonna get roasted, like planters nuts, because it does make a difference in the beginning and the end of this. So that will say thank you again to our friends at CAP logistics for giving me an opportunity to be a total prick to Doug, at the end of halftime this week for calling me out on science. And as always, to learn more about our friends at CAP logistics go to cap logistics.com That brings us to the second half of this week show where upon I am going to lose it Doug was worried that I was going to lose it on on the Chris Rock special. I did. That was fine. Yeah.

  Keenan Brugh 24:26

  I'm gonna lose it on this.

  Pete Mento 24:27

  So if you've been watching the news recently, we've had like two high profile derailments, one that was like terrifying. Terrifying in Ohio, where people's houses you may never be able to go back to them and the government saying one thing and that's a whole other show that we don't do on this show. But you know, the Secretary of Transportation finally goes out there and there's some questions about is this a regulatory issue? Is this an infrastructure issue? Should we talking to a to Northern such as a Norfolk Southern, I think is the carrier. Right? Yeah, how much of this was about the brakes and then the NTSB comes out and says, this is totally avoidable. This is totally avoidable. This could have been taken care of the braking system you're like, like, and then you're, you're watching all this. And then I listen to other podcasts. And I'm kind of not paying attention to it. I'm doing work, does this ecommerce stuff work? And I hear the background, you know, like, like someone's talking and you're not really paying attention. Then you hear there were 1700 derailments in 2021. You're like, what, if I stopped what I'm doing, I started listening. We, in America, we average around 1000 a year that most of these are, are not catastrophic. You know, most of these are during the course of railyard movements. But about 1000 a year, and we lead the modern world, like we lead the industrial world. We're worse than any other one of the g8 countries at this, because they're better at rail than the United States, like we suck at derailments. And if you ask anybody in rail, which I did this week, why? They'll tell you it has it's a mixture of infrastructure, of using older technology, because of the infrastructure. And regulation, just not being held to a higher standard. And the higher standard will force us to make better infrastructure. And to use higher technology in a real in our real or real engines. I'm just thinking, how do we not talk about this all the time, like, all the time, Doug? And then I get to me the whole pipeline thing? Like, why aren't we moving these chemicals more through pipelines, and I dug this is a big deal, man. And you and I have spent the better part since the pandemic like two years, just waving the flag for rail, just like being you know, we're like the rail brothers for God's sakes. And now I'm like, Well, hold on a second. Should we have like a national conversation about rail safety?

  Keenan Brugh 27:14

  Oh, maybe we should?

  Doug Draper 27:16

  Yeah. Here's my take on that 100% rail safety, any type of transport safety is it's impossible. But you could insert trucking every time you said rail, and train, right? Yeah. And it's, it's the nature of the beast. So you pull some stats. So I pulled a couple of stats this morning. So there's three, this is what I pulled, and I can't remember the name of the site. So we don't need to cite our sources. Pete That's the beauty of the show. 388,000 truck accidents last year 40,000 had some sort of fatality with it, right? There's not 40,000 News. Spots about about trucking. And so I think the high profile nature of this one has shed a light on some opportunities for additional safety. And I think the same thing can be said for the trucking industry. Every single person wants safe transit, every single person wants their goods to get from A to B in a safe and compliant measure. And I think these come to light when there's catastrophic situations that come up. But there's still a lot of wrecks and crashes and derailment. They're just not of this epic, epic scale. So I get it, we should talk more about rail, but in the big picture, it's a pretty small percentage that does not negate what has transpired in the requirement of safety and the tragic nature out there in Ohio with these two derailments, but you could insert truck every time you said train and potentially have the exact same conversation.

  Pete Mento 28:56

  I think we're I would, I would caution us to be a little too comfortable with that is the difference is so you know, as I've mentioned on the show before my mother died when she was hit by a tractor trailer driving her car in South Carolina, and that is what makes this conversation a little different. Rail is a is a contained environment. Right. So how many how many rail accidents happen outside of that contained environment? How many rail accidents are at a crossing? That would be an interesting conversation where there was a car or a truck or pedestrian involved, as opposed to how many of those how many of those truck accidents happened? We're just purely truck hits inanimate object. Truck, you know, falls over jackknives truck has a truck incident. I think trucks are probably equally went when there is not a when there's Got a vehicle involved the passenger vehicle involved? I would I would be very interested just how incredibly safe tractor trailers are in that environment as opposed to passenger cars. And that's, you know, for a guy whose mother died in an accident with a tractor trailer, it's pretty interesting to say, but I would be fascinated to see what those numbers look like. Because I would imagine that a number of those accidents probably happened with a passenger vehicle or associate with passenger vehicle or an inanimate object. So if you fascinate to see what those numbers look like, but you're you're absolutely right, that we want safety in every single format. And I'm a race raise you Doug. I bet maritime is even lower. Statistically speaking, I bet maritime accidents in maritime casualties are significantly lower than rail. And as far as like the amount of cargo that gets where it needs to be, and isn't spilled or lost or on fire or water damage, compared to rail and over the road at Pipeline, a bet pipelines even better.

  Doug Draper 31:06

  Yes, yeah, sure, your pick up the I'm gonna rifle through this one because the internet access at our best western hotel in Fresno seems to be so cutting out, and I'm kind of like just rolling with it. So I'm gonna have this one. And I'm gonna keep it super short, just to make sure, but I love FedEx new sales strategy. It has nothing to do with rates has nothing to do with service. It's about creating doubt and fear. Just saw this yesterday that there's a potential UPS strike coming to summer. And there is outward communication from FedEx to its customers, essentially saying switch your UPS shipments to FedEx before March 31 to ensure volume prioritization. Don't wait before it's too late. That is an actual sentence used in that email. Don't wait until it's too late. And I guarantee that they're going to bring on some new business, there's going to be a little bit of panic and concern. You know, what some part of me is like, is that kind of a, I don't know an uncool move, or is this business business and you're out there to grow the company and do what it needs to take? And my some of my comment is, it's the latter, right? I'm good. I'm good. Use your advantage any way you can to grow your business and your shareholders and blah, blah, blah, blah. But I don't have a problem with it. There is truth in that statement, will UPS go on strike, I have no idea one way or another. I know everybody will prevent that from happening. But I don't have a problem with fear tactics as a sales strategy to help the FedEx business profile to grow. I don't know what your take

  Pete Mento 32:59

  FedEx saying you may not be aware of this dear customer, but our main competitors thinking about striking. And if you want to have priority over people who are Johnny Come Lately, you might want to sign on now. You know, if they follow through with it. That's a hell of a business tactic. I would feel Yeah, I would feel I would feel a little leverage though, Doug. You know, I'm a I'm a dirt shoe and hippie, and I don't I don't like people. I don't like people screwing with me like that. So if there isn't, if I went on board with them, and there wasn't a there wasn't a union strike and, and I got messed with a little bit. I think I feel like crap. Yeah, I don't know. I'm wondering what UPS his response will be. So why don't we wait a week or two and see what UPS is response? Ah,

  Doug Draper 33:47

  good point. Yeah. Yeah. Sounds like

  Pete Mento 33:52

  US Postal Service, buddy. They're always they're always reliable, you can always depend on them. But with that, with that, and with Doug's crappy internet connection, that's going to do it for us this week. A global trade this week, brought to you by our good friends at CAP logistics. To learn more about them, you can visit their website cap logistics.com. As always, we do appreciate their support. Bring it on this show. Thank you, Doug for waking up super early, and using your hotel's crappy internet to record the show. Thank you. Thank you, Keenan for being back in the booth. And we'll see everybody again next week. Another edition of open trade