Mike Iannelli

Mike Iannelli, a senior vice president of investment bank Lincoln International in Chicago, said the number of trucking companies that go out of business will depend on how long and how deep the freight downturn goes.

"There is a direct correlation between the length and depth of the downturn and how much capacity leaves the market," he said.

Although Iannelli said he believes that the economy is "fundamentally sound," changes in manufacturing and distribution will affect demand for freight hauling.

"As we move away from a manufacturing economy, we are not becoming any less of a consumption economy, for instance.Imports will continue to be important," he said.

Mike Iannelli has joined Lincoln Partners as a senior vice president.He will work in the Chicago-based I-bank's business services industry group, and has spent the past six years with private equity firm Svoboda, Collins LLC. www.lincolnpartners.com