Tag: North America

UPS board ok's USD 2 billion stock buyback

Posted by | Oct 30, 2007 | |

United Parcel Service Inc., the world’s largest shipping carrier, said Tuesday in a regulatory filing its board authorized the company to buy back up to $2 billion in stock.
The authorization replaces the about USD 50 million that remains available under the February share repurchase authorization of USD 2 billion, the company said in a filing with the Securities and Exchange Commission.

UPSsaid it will purchase stock from time to time on the open market or in private transactions. The program has no time limit.

The Atlanta company has about 1.06 billion shares outstanding.

Shares of UPS have traded between USD 68.66 and USD 79.72 over the past 52 weeks and closed down 35 cents at USD 74.75.

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Small Business Leaders Say Economy, Healthcare Should Be Top Priorities

Posted by | Oct 30, 2007 | |

The leaders of America’s small- and mid-sized businesses work long hours, worry about keeping up with the latest technology and aren’t sure whether they should be concerned about the future supply of skilled workers. A new survey shows they also think the economy and healthcare reform are the nation’s most pressing problems.

The inaugural “UPS Business Monitor – United States,” a survey sponsored by UPS and conducted by the marketing insight firm TNS, interviewed 600 managers and owners of small- and mid-sized enterprises (SME) around the country. The Monitor’s first report earlier this month focused on business and trade issues, finding most SMEs have failed to explore sales opportunities outside the United States.

The latest results focus on technology and political issues. More than half of those surveyed want to see stricter immigration laws – even though they say such laws wouldn’t have much impact on their own business. Almost 40 pct say they believe the shift in congressional control to the Democrats will have a “negative impact” on their business. Those surveyed also said they don’t think America’s image in the world would be helped much by electing either a woman or African-American president.

And while they’re bullish on their own individual businesses, only one-third say they expect to add more employees over the coming year.

Among the findings of the wide-ranging survey:

– SME decision-makers work an average of 53 hours a week, with one-third (34 pct) working 60 hours or more.
– Some 59 pct say their top technology worry is just keeping up with the pace of technological change, although 53 pct also worry about Internet security breaches.
– Cell phones are clearly considered the most-needed technology device.
– The respondents are evenly split – 49 pct ‘no,’ 46 pct ‘yes’ – when asked if they expect difficulty in the future finding skilled employees.

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Minister responsible for Canada Post tables an amendment to the Canada Post Corporation act

Posted by | Oct 29, 2007 | |

The Honourable Lawrence Cannon, Minister of Transport, Infrastructure and Communities, today tabled a key amendment to the Canada Post Corporation Act that would permit letter exporters to collect letters in Canada for transmittal and delivery outside Canada. Until now, Canada Post was the only corporation legally entitled to this privilege.

“The Government of Canada is committed to fair, transparent and accountable governance,” said Minister Cannon. “This amendment is intended to facilitate more competitiveness for companies within the mail industry worldwide and further facilitate the growth of the outbound international mail market in Canada.”

The proposed amendment to the Canada Post Corporation Act adds an exception to Canada Post’s exclusive privilege under Section 15 for letters intended for delivery to an addressee outside Canada.

The Canada Post Corporation is a Crown corporation and one of the largest employers in Canada. It serves approximately 33 million Canadians, and more than one million businesses and public institutions. In 2006, Canada Post employees delivered 11.6 billion pieces of mail to more than 14 million addresses in Canada.

The Canada Post Corporation Act, which came into effect in 1981, regulates mail services in Canada.

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FedEx readies for the busiest holiday season in company history

Posted by | Oct 29, 2007 | |

For the tenth consecutive year, FedEx Corp. expects to break company volume records when an unprecedented 11.3 million packages move through the FedEx Express and FedEx Ground global networks on December 17, 2007. On an average day, more than
7 million packages move through the FedEx systems.
Other FedEx projections for this holiday season include:
• FedEx Ground projects it will handle its highest package volume ever on Monday, December 10, 2007, when it expects to move more than 7 million packages.
• December 17, 2007, is expected to be FedEx Express busiest night with nearly 5 million packages moving through the network.
• FedEx international markets including the United Kingdom, China, India and Canada also will see their busiest day on Dec. 17, 2007 when they collectively process nearly 350,000 FedEx Express domestic international shipments.
• FedEx Kinkos also will see its busiest night on December 17, 2007, when 345,000 FedEx Express and FedEx Ground packages are projected to move through the FedEx Kinkos channel.This is a 12 percent increase over last years busiest day for FedEx Kinkos.
• FedEx SmartPost expects its busiest day will be December 3, 2007 with 1.9 million shipments moving through the network.
• The award winning fedex.com Web site is expected to break records as well this holiday season, processing an average of almost 6.5 million online tracking requests per day during the peak month of December. On average, fedex.com processes 3.5 million online tracking requests per day. On the highest single day in December, we expect 8 million online tracking requests.

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Ottawa seeks to end Canada Post's foreign monopoly

Posted by | Oct 29, 2007 | |

The Canadian government on last Monday 29th proposed stripping state-owned Canada Post of its monopoly to collect letters for delivery abroad but there is no guarantee the move would succeed.

The proposal would have to be approved by Parliament, where the ruling Conservatives only control a minority of seats. Debate on the matter is due to start later this week.

Transport Minister Lawrence Cannon, who is responsible for Canada Post, said the proposal was “intended to facilitate more competitiveness for companies within the mail industry worldwide and further facilitate the growth of the outbound international mail market in Canada”.

A spokeswoman for Cannon said she was not aware if there were any problems with Canada Post’s performance. No one from Canada Post was immediately available for comment.

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