Operating a privately held debt-free less-than-truckload (LTL) operator provides Estes Express Lines the flexibility to make growth investments and keep its commitments to customers and employees through the freight cycle, Webb Estes, president and chief operating officer, tells Bloomberg Intelligence. This approach has allowed the company to opportunistically acquire facilities and equipment against a challenging freight environment as well as keeping workers’ morale high, he says. In this Talking Transports podcast, Estes joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to share his insights about LTL rates and demand, which saw a pick up in growth in September. Estes also discusses sustainability, maintaining high service levels, technology investments and doing most jobs working his way up the organizations.