Tag: FedEx

US FedEx donates USD 1M to Martin Luther King memorial

Posted by | Sep 5, 2006 | |

FedEx Corp. announced Tuesday it is donating USD 1 million to help build a memorial to Martin Luther King Jr. on the National Mall in Washington, D.C.
Gina Adams, vice president of government affairs for Memphis-based FedEx Corp., will join Harry E. Johnson, president and CEO of the Martin Luther King Jr. National Memorial Project Foundation Inc., and Congressman Harold Ford Jr. Tuesday night to announce FedEx’s contribution in a Washington event.
Other companies, including General Motors, General Electric Co., and Exxon Mobil, have contributed to the memorial, according to the FedEx release. To date, the Memorial Foundation has raised USD 64 million of the USD 100 million needed to build and maintain the memorial.
“Dr. King will be the first man of color to be memorialized among past presidents and war heroes,” Ford said in a statement.

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Competition on China-US Cargo Airlines to Get Stiffer

Posted by | Sep 5, 2006 | |

FedEx Express and NWA Cargo, the two world-leading cargo airline carriers, have both obtained permission from the US Department of Transportation to start four additional weekly flights to China, and that signals stiffer competition among cargo carriers flying between China and America, insiders said.

The newly-permitted additions, which go into effect in March 2007, will bring FedEx’s weekly flights to and from China to a total of 30, allowing FedEx to operate more all-cargo flights between China than any other US airline, according to a director for the China operation of FedEx Express.

Meanwhile, the added flights will also help NWA Cargo, Northwest Airlines Corp.’s cargo division, to further expand its freight services between the two countries, and then the carrier’s weekly all-cargo flights will be increased to 14, said a senior executive of NWA Cargo.

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FedEx beating UPS in delivering stock growth

Posted by | Sep 3, 2006 | |

At first glance, United Parcel Service Inc. and FedEx Corp. seem alike. The two shipping giants compete for some of the same customers, and their operations are sensitive to trends in the world economy, such as rising oil prices.

But investors are rewarding FedEx for continuing to post healthy profits and to enforce strong cost controls. UPS, which has tightened its business, generates more revenue and has higher operating margins and return on invested capital than FedEx. Consequently, margins and return on capital at UPS haven’t changed much, while FedEx’s have steadily improved.

“FedEx, along with other best-in-class transports, has been able to offset higher operating costs with strong pricing growth and strict cost controls in other areas of their businesses,” BB&T Capital Markets analyst John Barnes said in a recent research note.

Operating margins and return on invested capital are measures of a company’s profitability, essentially gauging how well a company is running its businesses and using its money invested in its operations.

Since November 1999, when UPS went public, FedEx’s share price has more than doubled, to more than USD 101 a share. After a 36 percent run-up on their first day of trading, UPS shares are trading less than USD3 higher. In the past 12 months, UPS stock has traded between USD65.50 and USD83.99. FedEx had a 52-week low of USD76.81 and a high of USD120.01.

The result was a 15.9 percent decline in the UPS share price at one point during the day and 10 percent at the market’s close, its largest one-day percentage drop since going public. FedEx’s stock closed that day down USD1.13, or 1 percent, at USD109.31. FedEx earlier in July had reiterated its upbeat outlook for its fiscal year that began June 1.

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FedEx Ground Package Systems wins USD11.49 Million delivery rrder

Posted by | Sep 2, 2006 | |

The U.S. Army has awarded a $11.49 million delivery order to FedEx Ground Package Systems Inc., Coraopolis, Pa., to support Defense Logistics Agency’s Surface Small Package program.

The contract was awarded by the Army’s Military Surface Deployment & Distribution Command, Alexandria, Va. Work will be performed in Anniston, Ala.; San Diego, San Joaquin, Barstow, Calif.; Jacksonville, Fla.; Albany, Warner Robbins, Ga.; Cherry Point, N.C.; Oklahoma City; Columbus, Ohio; Tobyhanna, Susquehanna, New Cumberland, Mechanicsburg, Pa.; Corpus Christi, Red River, Texas; Depot Hill, Utah; Norfolk, Richmond, Va.; and Puget Sound, Wash.

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Delivery firms rack up parking tickets

Posted by | Sep 1, 2006 | |

Commercial delivery companies such as UPS, FedEx and others pay a steep price for doing business in New York City, getting an average of 7,000 parking tickets every day and paying more than USD102 million in fines.

The parking violations turned into such a bureaucratic nightmare that the city created a program to reduce or dismiss the tickets in exchange for companies waiving their right to contest them. The program has eliminated 770,000 ticket hearings and saved USD1 million in administrative costs per year since it began two years ago.

The companies are also saving cash, although their annual New York City parking tab is still high because some tickets are not covered under the program.

UPS has a fleet of 1,000 trucks and receives about 15,000 tickets a month here. The company is the biggest offender in the city, paying USD18.7 million in parking violations for the fiscal year that ended June 30, according to city data. FedEx was second with USD8.2 million.

“We receive by far more parking fines in New York City than anywhere else in the world,” UPS spokeswoman Diane Hatcher said. “Simply stated, we don’t have the same level of difficulty with finding available parking spaces or loading zones anywhere else.”

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