Author: Archive

USPS Governor Ellen Williams reappointed

Posted by | Jun 18, 2008 | |

President George W. Bush has appointed US Postal Service Board of Governors member Ellen Williams for a second term ending on December 8, 2014.
The president first appointed Williams to the board in 2006 to serve the remainder of an unexpired term. At that time, she replaced John Gardner, who had held a recess appointment following the death of former governor Legree Daniels in November of 2005.
Governor Williams currently serves as vice chair of the board’s Compensation and Management Resources Committee and is a member of the Government Relations and Regulatory Committee.
She previously served as vice chairman of the Kentucky Public Service Commission and was chairman of the Republican Party of Kentucky.
She currently runs her own business, Ellen C. Williams LLC, a government affairs and lobbying firm. A graduate of the University of Kentucky, she lives in Anderson County, KY.
The USPS Board of Governors consists of nine governors who are appointed by the president and the consent of the Senate. No more than five of the nine governors can be members of the same party.

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The MORY Group answers and strikes back daily “LES ECHOS” of June 18th

Posted by | Jun 18, 2008 | |

The MORY Group said is deeply chocked by the publication of wrong information, which could have very damaging consequences for the 7.000 employees and the 3.000 subcontractors working for the group. Above all it is surprising that the direction was never interviewed by the author of the article and that the so called “internal sources” are not identified.

BNP PARIBAS announced at the end of 2007 that they will put an end to this mechanism because it was difficult to refinance the acquisition of an own fleet.
This is why MORY appointed an expert to find the most appropriate substitute to the current financing mechanism within a reasonable period of time.
Today the solutions have been found: MORY has finalized a solution and struck a deal with GE Facto France. The document will be signed at the end of June.
Simultaneously the commitment of the other banks to support MORY has been confirmed. This will put an end to the mission of Maître Lessertois at the end of June.

The balance sheets of the MORY Group and his branch MORY Team have been always positive since the beginning of 2008, and that without the contribution of exceptional profits contrary to what has been written in the article. The results are in line with the budget, which is based on operational result of 13 million Euro for the whole year 2008.
We made the parcel service profitable again since the end of the year 2007 by raising the selling prices and charging a fuel surcharge.

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German government to make preliminary decision this summer on Postbank sale

Posted by | Jun 18, 2008 | |

The German government is expected to make a preliminary decision this summer with regard to the sale of Deutsche Post AG.’s banking unit Deutsche Postbank AG, according to a prerelease of Handelsblatt, citing government sources.

It said German Finance Minister Peer Steinbrueck will meet with Deutsche Post CEO Frank Appel in the summer and the latter is expected to inform the minister who should be the buyer of Postbank.

The state-owned development bank KfW Bankengruppe holds 30.50 percent stake in Deutsche Post, which in turn owns 50 percent plus one share in Postbank.

Handelsblatt said today Deutsche Post is expected to make an official invitation next week to interested parties to participate in the bidding process.

Deutsche Post and Postbank declined comment to the newspaper.

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New Look Signals Evolution of Aramex

Posted by | Jun 18, 2008 | |

Visual Identity Transformed to Represent Changing Face of Company

Aramex unveiled a new corporate image that is designed to catch up to the rapid growth of the company from a regional transportation solutions provider into a major player in the global logistics marketplace, with an updated look that marks the biggest change in the company’s visual identity to date.

Over the past decade, Aramex has become one of the Middle East’s leading brands in terms of exposure and recognition, and has long been considered one of the most respected and admired companies in the region.

Senior executives say that the last creative stroke to the brand was more than 10 years ago, and that the new logo more accurately reflects what Aramex represents today – a highly dynamic, global company whose vitality and innovation are fuelled by the passion of its people.

Following on a 26 year history of milestones, Aramex was the first company with Middle East roots to be listed on the NASDAQ, the first to issue a Corporate Sustainability Report, and aims to become the first carbon neutral company in the industry.

To complement the brand’s evolution, the company has adopted a new slogan – “delivery unlimited” – a tagline which, with its longevity and ambition, seeks to match the company’s vision.

Building its business on sustainable practices, the company continues to set its sights high, proving that corporations can be a force for change by playing an active role in the progress of communities.

The re-brand – which goes live today in the UAE, Saudi Arabia, Jordan, and Egypt – will be rolled out on all Aramex packages, vehicles, materials, uniforms, and facilities across the region in June, with full completion of global re-branding expected by end of year.

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FedEx report first loss in 11 years

Posted by | Jun 18, 2008 | |

FedEx Corp. posted its first quarterly loss in 11 years and projected earnings that fall short of analysts’ estimates as fuel costs rise and a slowing economy curbs demand. The shares dropped 2.1 percent.
The report from FedEx, considered a proxy for the U.S. economy, suggests fuel costs and declining demand will continue to erode prospects in industries ranging from shipping to airlines. Economists have cut their U.S. growth forecasts for later this year and next as job losses, food and fuel prices and tougher lending rules hurt consumers.
FedEx and UPS typically have a two-month lag in recovering fuel expenses through surcharges. Crude oil, from which gasoline and jet fuel are derived, averaged USD 115 a barrel in the three months ended May 31, up from USD 63 in the same period a year earlier.
FedEx’s fuel bill for the fourth quarter surged 54 percent, to USD 1.39 billion. Jet-fuel costs jumped 80 percent from a year earlier, Graf said on a conference call with investors and analysts.
The surcharges that FedEx has been able to add so far have hurt demand for express shipments, as some customers downgrade to cheaper options such as two-day shipping or freight. FedEx’s fuel surcharge on express packages is 28 percent, up from 18.5 percent in March, according to its Web site. The surcharge will jump to 32.5 percent in early July.
FedEx’s results underscore concerns among economists that higher energy and raw-materials expenses will squeeze profits in more industries as consumers resist price increases.

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Sinotrans mulls logistics merger with Yangtze Transportation (PRC)

Posted by | Jun 18, 2008 | |

Sinotrans, the Chinese conglomerate partnered with DHL is considering merging with the country’s top river-shipping operator to create a national logistics giant, sending shares in its main listed arm up 6 percent on Wednesday.

Sinotrans Ltd, a joint venture partner of DHL and Korean Air, said its controlling shareholder of the same name was thinking of merging with the China Yangtze Transportation (Group) Corp.

If it goes ahead, the move would create a sprawling transport corporation operating everything from marine, oil and river shipping to express delivery, freight forwarding and warehousing, as Beijing spurs consolidation of a large but fragmented sector.

Analysts believe the deal will open opportunities for Sinotrans’ listed units — Sinotrans Ltd and Sinotrans Shipping Ltd — to buy assets from their state parent in future, though it will not have an immediate impact on listed firms.

After merging with Yangtze Transportation, which had total assets of 41.2 billion yuan (USD 5.8 billion) in 2007, Sinotrans would become the nation’s largest shipping and logistics conglomerate after the marine-oriented COSCO group.

Sinotrans and Yangtze Transportation, which controls two mainland Chinese-listed firms (Nanjing Tanker and Changjiang Phoenix) will form a group named the China Logistics Group to hold the interests of both parties, media reports said this week.

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The Postal Bank in Israel will begin selling flight insurance in July

Posted by | Jun 18, 2008 | |

Israel Postal Company Ltd. and Mizrach Insurance Agency are expanding their collaboration and plan to begin the sale of flight insurance through branches of the Postal Bank Ltd. in July. The two companies also plan to expand the sale of vehicle insurance from ten post offices to fifty within the coming weeks.

The Postal Company and Mizrach Insurance Agency launched their joint venture in the first quarter of 2008. The pilot program for the sale of vehicle insurance began at two Postal Bank branches and without an advertising campaign. Both companies say that the pilot has been a success. There are reportedly an average of 1,100 leads per month and the number of sales of insurance policies is much higher than predicted.

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New UPS services making it easier to go green

Posted by | Jun 18, 2008 | |

As U.S. businesses face challenges associated with a sluggish domestic economy, many are looking to markets overseas. Two technology-enabled services from UPS are making it easier than ever for businesses large and small to expand beyond U.S. shores – and helping them go green while they’re at it.

Introduced in January, the industry-first solutions – UPS Paperlesssm Invoice and international UPS Returns – now are available within the UPS Shipping Tool, an application program interface (API) that enables customers to integrate them into their own web sites and enterprise applications. They’re already helping thousands of UPS customers manage shipments to 98 countries and territories around the world via UPS shipping systems like UPS WorldShip, UPS CampusShip™ and UPS Internet Shipping.

“It’s more important than ever for small- and medium-sized companies to look at global markets and to leverage technology to act ‘big,’ even as they retain the flexibility of a smaller company,” said Jordan Colletta, UPS vice president of customer technology marketing. “With the spotlight on operational costs, these UPS services allow businesses of all sizes to overcome some of the complications of operating internationally in a cost-effective manner.”

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