Tag: North America

FedEx warns over slowdown

Posted by | Dec 2, 2007 | |

Fred Smith, the chief executive of FedEx, the logistics giant, has warned that global growth will not be enough to counter a US slowdown, raising doubts over corporate America’s ability to export its way out of a sluggish domestic economy.

The warning from Mr Smith, a respected business leader whose company is both a gauge and a beneficiary of globalisation, will deepen investor pessimism over the prospect that the world economy could “decouple” and survive a US downturn unscathed.

In an interview with the Financial Times in which he also indicated he would like his successor to come from within FedEx, Mr Smith dismissed suggestions that the rapid pace of economic development in emerging markets would offset a US slowdown.

“Growth elsewhere helps cushion the shock but nothing can displace a slowdown in the US,” he said. “I don’t care how optimistic people are about China or anything else, [the US] is still 25 per cent of the world’s economic activity so when it slows down it is going to have an effect.”

Three weeks ago, FedEx issued the second profit warning in a month, citing flagging demand for US freight and escalating fuel costs. The announcement confounded investors’ predictions that a weak dollar and resilient economies in the rest of the world could help multinationals buck a domestic downturn.

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Post offices push modern solutions to help you lick stamp-and-go holiday traffic

Posted by | Dec 1, 2007 | |

‘Tis the season for mailing heavy packages and standing in lines at post offices across the Treasure Coast.

But U.S. Postal Service officials say the wait often could be cut to next-in-line length if more customers used services available on home computers or at the self-service machines at many post offices.

Postal services now are available online at www.usps.com and other Web sites, said Postal Service spokesman Joseph Breckenridge. Last year, 22 percent of the service’s revenue came from Internet, compared with 9 percent in 2004.

It’s part of an effort that includes phasing out old, coin-operated stamp dispensers — the ones that look like candy machines. The postal service says they are too costly to keep up. As a result, most people have a choice of going online, standing in line, or, at larger post offices, using an automated, self-service machine when the lobby is open.

BEFORE YOU STAND IN LINE, CONSIDER GOING ONLINE

Your home can be a post office via the U.S. Postal Services www.usps.com Web site.

With a computer and printer, you can print postage labels on regular paper and have your package picked up if you don’t want to drop it off at a post office.

You must register to use services that cost money. One option for printing postage is to go to the upper right of the Web site’s front page and click on Sign In for printing shipping labels, scheduling a pickup and more.

You can also visit PC Postage at www.stamps.com and print out postage at home.

MAILING TIPS

Avoid the lines by visiting post offices during quieter mid-morning and mid-afternoon periods. The busiest times are at opening, from 11:30 a.m. to 2 p.m., and from 4 p.m. until closing.

Use automated postal centers. Larger post offices have self-service machines open during lobby hours, generally 24 hours a day. Most postal transactions may be done on those machines, which have weight scales. Payment is by debit or credit card. 

Visit contract stations. The U.S. Postal Service has outlets in retail stores. A Postal Service Web site, www.usps.com, lists all facilities, hours and locations.

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US online retailers increase payment options

Posted by | Nov 29, 2007 | |

Online fraud and the credit squeeze has forced US retailers to increase the number of payment options available and it seems to be boosting sales.

Due to U.S consumers’ worries about the risk of fraud from online purchases with credit cards, e-retailers are increasingly offering alternative payment options. E-retailers on average accepted 2.6 different payment methods this year, up from 2.1 in 2005, says a report from U.S. payments processor CyberSource.

Offering more payment methods appears to boost sales. Last year, sales increased by an average 14 percent for e-retailers offering three or more payment options, CyberSource says.

More than half of online users who are worried about ID theft say that concern has affected their online shopping, a Gartner survey in August 2007 found. Among those consumers, 13 percent said they have stopped shopping online; and 68 percent said they’re more cautious about where they purchase goods online.

In the US there are an increasing amount of users who are not shopping online because of a fear about ID theft and getting their credit card number stolen.

This can be a problem for lesser-known small and midsize retailers, who are most likely to lose business from consumers concerned about online payment, Avivah Litan, a vice president and analyst at research firm Gartner says. “The promise of the Internet was that it would level off the playing field, but it didn’t turn out that way.”

Alternative payment options include Bill Me Later, which sends customers a monthly bill and lets them pay by cheque or money order; and Google Checkout and PayPal Express Checkout, which let customers’ provide financial details only to them, rather than giving personal information to retailers.

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Californian Supreme Court denies FedEx appeal on drivers

Posted by | Nov 28, 2007 | |

California’s Supreme Court on Wednesday refused to hear an appeal by FedEx Corp, which sought to overturn a state court ruling that said the company’s drivers are employees, not independent contractors.

The lawsuit, Estrada vs. FedEx Ground Package System Inc., involves 200 people who worked under contracts struck by FedEx’s predecessor company.

It will be sent back to the state trial court for rulings on drivers’ expense reimbursements and fees for plaintiff’s attorneys, FedEx spokesman Maury Lane said.

A series of similar lawsuits from more than 30 states was recently granted class action status by a court in Indiana.

Those lawsuits also claim the control FedEx exercises over its contractors makes them employees, eligible for benefits.

FedEx has argued the contractors are entrepreneurs, not employees.

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USPS offers “Dinero Seguro,” Money Orders

Posted by | Nov 28, 2007 | |

The U.S. Postal Service offers Dinero Seguro (usps.com/money/suremoney) and Postal Money Orders for those customers, providing them with a safe, affordable, convenient method of transferring money internationally and domestically.

Dinero Seguro enables customers to send up to USD 2,000 per transaction per day and is available at 2,800 participating Post Offices across the United States. Identification is required for transfers exceeding USD 1,000.

The system uses secure, electronic wire transfers between the Postal Service and thousands of participating bank branch offices in destinating countries. The recipient’s funds are available within 15 minutes, guaranteed, and without hidden, or additional fees.

Personal identification also is required for the recipients of funds in the participating countries. Recipients do not need bank accounts and pay no additional fees in their countries.

Customers wishing to send money gifts within the United States can purchase Postal Money Orders, a safe, convenient and economical alternative to sending cash through the mail. Money orders can be purchased from any Post Office in the United States as well as from rural letter carriers in denominations up to USD 1,000. A current government- or state-issued identification is required for multiple money order purchases totaling USD 3,000 in a single day.

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