Quarterly report pursuant to Section 13 or 15(d)

Line of Credit, Short-Term and Long-Term Borrowings

 v2.3.0.11
Line of Credit, Short-Term and Long-Term Borrowings
 6 Months Ended
Jun. 30, 2011
Line of Credit, Short-Term and Long-Term Borrowings [Abstract]  
LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS
(7) LINE OF CREDIT, SHORT-TERM AND LONG-TERM BORROWINGS
     The Company and its subsidiaries had $1.6 million of outstanding letters of credit and short-term borrowings of $46.1 million as of June 30, 2011 and $18.3 million at December 31, 2010.
     Long-term debt is as follows (in thousands):
                 
    June 30,     December 31,  
    2011     2010  
Note payable to bank, due in monthly installments of $531.4 (includes principal and interest), fixed rate interest at 3.54%, secured by property, balloon payment of $12,635 due December 2015
  $ 36,814     $ 39,325  
Note payable to bank, due in monthly installments of $483.9 (includes principal and interest), fixed rate interest at 3.19%, secured by property, balloon payment of $11,670 due June 2016
    36,344       0  
Note payable to bank, due in monthly installments of $57.6 (includes principal and interest), fixed rate interest at 7.89%, secured by property, balloon payment of $6,889 paid in January 2011
    0       6,900  
Loan from HF Logistics I, LLC
    17,766       17,358  
Capital lease obligations
    44       51  
 
           
Subtotal
    90,968       63,634  
Less current installments
    9,893       11,984  
 
           
Total long-term debt
  $ 81,075     $ 51,650