I had over-interpreted the chairman’s message.
Murray Mullen, leader of Mullen Group Ltd., the Okotoks, Alta.-based trucking and logistics company that generated about $1 billion in revenue in 2018, said in his annual letter to shareholders that he “will continue to invest in the strength of our business,” specifically, “our business units, our people, and technology.” Mullen reported that he had set aside a capital budget of $75 million for the purpose.
Sounded good to this correspondent, who has experienced the rush of piloting a Freightliner FLC120 on the TransCanada Highway, but who otherwise knows nothing about the trucking business. However, the Bank of Canada has been holding out for a surge in business investment, and here was an example of just that — or not.
Continue reading at the Financial Post ...