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UPS Q3 down 10% in "Tough Economic Climate" says CEO |
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Thursday, 23 October 2008 |
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Sandra Frandsen | Couriers.com
Weakness in the U.S. economy, increased fuel costs and lower package volume led to a downturn in UPS's third-quarter income of 9.9 percent from the previous year, despite a 7.4% revenue increase.
This morning UPS reported a net income of $970 million, or 96 cents a share, down from $1.08 billion and $1.02 a share a year earlier.
"UPS managed the business well in this very tough economic climate," said Scott Davis, UPS's chairman and CEO.
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UPS Q3 down 10% says CEO - Entire Article
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FedEx gets $319 Million Reprieve from IRS |
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Thursday, 23 October 2008 |
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Sandra Frandsen | Couriers.com
IRS Withdraws Tentative Assessment from FedEx
On October 22, 2008, the Internal Revenue Service withdrew its tentative assessment of tax and penalties for the 2002 calendar year ($319 million plus interest) against FedEx Ground Package System, Inc., a wholly owned subsidiary of FedEx Corporation, relating to the classification of FedEx Ground’s owner-operators for federal employment tax purposes.
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FedEx gets Reprieve from IRS - Entire Article
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FedEx Drivers Win $14.4 Million in Independent Contractor Case |
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Tuesday, 21 October 2008 |
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Sandra Frandsen | Couriers.com
LOS ANGELES
Drivers for FedEx have won $14.4 million from the company in a decade-long dispute over their status, an increase of $9 million over the original 2005 award. This represents FedEx's third appeal of the ruling that the drivers were illegally classified as independent contractors instead of employees and entitled to compensation.
FedEx was disputing the award for job-related expenses and interest as excessive. The referee, retired California Superior Court Judge William J. Cahill, overruled virtually all of FedEx's complaints and denied only $32,000 of the $7 million claimed.
Lynn Rossman Faris of Oakland, California, lead counsel for the California drivers, hailed the ruling. "Tony Estrada, Jeff Morgan and all the drivers who have fought for justice for nearly 10 years now have been vindicated and will recover the money they paid for FedEx's expenses." She added, "It has been a long, hard fight and we can finally say that a definitive end is in sight."
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FedEx Drivers Win Independent Contractor (IC) Case - Entire Article
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UPS and HP Develop Paperless Label Technology |
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Thursday, 13 November 2008 |
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Sandra Frandsen | Couriers.com
Shipping giant UPS said Thursday it has begun using a new portable device to print sorting labels directly on packages. The company said in its statement it will eliminate paper labels, saving 1,338 tons of paper each year and millions of dollars in operating costs.
The new handheld printing/scanning device will deliver "increased efficiency and effectiveness at a lower cost
with less waste," said Dave Barnes, senior vice president and chief
information officer at UPS. This device, developed over an 18-month collaboration with Hewlett-Packard, is expected to help UPS reduce
printing costs while slashing its consumption of paper. 41 UPS package
centers are already using the Handheld devices, expanding to 55 by the end of the year.
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UPS and HP develop Paperless labels - Entire Article
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DHL Express Ground to Pull out of U.S., Cut 9500 Jobs |
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Monday, 10 November 2008 |
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Sandra Frandsen | Couriers.com
Deutsche Post AG, parent company of DHL, will close all of its U.S. based DHL Express service centers, cutting 9,500 jobs in the United States in addition to the 5,400 jobs already reduced this year. In a press conference this morning, the group released plans to eliminate U.S. domestic shipping by land and air by January 30, 2009. The International express and logistics business in the U.S. will be maintained and the region will remain an integral part of DHL's global Express network.
John Mullen, responsible for Express on Deutsche Post World Net's Management Board, commented: "This is the right move for our U.S. operations given the current economic climate and for the long run. Focusing our U.S. Express efforts on what we do better than anyone else - international shipping - serves the best interests of our customers, employees and shareholders around the world."
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DHL Express Ground to Pull out of U.S. - Entire Article
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