Tag: North America

Two local companies draw investor

Posted by | Aug 9, 2007 | |

Allied Capital Corp. said Tuesday it has invested in two Dallas-Fort Worth-area companies.

Allied completed its buyout of Worldwide Express Inc., a reseller of DHL express and ground-shipping services based in Dallas. The full purchase price was not revealed.

Allied also said it committed USD 93.4 million to support the management-led recapitalization of Higginbotham & Associates. Higginbotham is an insurance brokerage and risk management firm based in Fort Worth.

Allied, based in Washington, D.C., is a business development company that invests private debt and equity capital in middle market businesses nationwide.

Worldwide Express, founded in 1994 by David Kiger and Roger MacDonell as a reseller for Airborne Express, is a franchisor of DHL shipping services in the United States. It has about 150 franchisees with more than 60,000 customers nationwide.

Higginbotham & Associates, founded in 1948, has 220 employees. In addition to Fort Worth, the company has offices in Dallas, Austin, Denton, McKinney, Weatherford and Waco.

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Landair receives Gold Award from FedEx

Posted by | Aug 9, 2007 | |

Landair Transport was honored at the annual meeting of FedEx Core Carriers with one of the top honors FedEx presents to its carriers. Landair’s FedEx fleet was presented a Gold Award in recognition of their “Outstanding Performance in Maintaining a Service Level of 99.56 percent.”

Each year, FedEx gives out bronze, silver, gold and platinum awards, based on carriers’ service level.

This is the second year in a row that the Landair fleet has received a Gold Award for their service and performance for FedEx.

This year’s award was based on performance for all departing and arriving FedEx loads from June 1, 2006, to May 31, 2007.

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Chicago postal service is rebounding

Posted by | Aug 9, 2007 | |

The Chicago District of the U.S. Postal Service announced Wednesday that it had improved its delivery rate through reforms a few months after the U.S. postmaster slammed the city for having the worst mail delivery in the nation.

District Manager Gloria Tyson said an audit of Chicago’s mail operation by IBM Consulting Services found that 93 percent of first-class, overnight mail arrived on time between April and July, compared with 90 percent the previous quarter.

The increase was the result of the district hiring more than 240 more carriers, overhauling equipment and correcting nearly 143,000 addresses, Tyson said.

The announcement drew praise from U.S. Rep. Danny K. Davis (D-Ill), who in May oversaw a House subcommittee hearing on the city’s mail operation that aired complaints from disgruntled customers, business leaders and lawmakers.

U.S. Rep. Jan Schakowsky (D-Ill) said her office had heard from more than 120 frustrated postal customers this year.

Davis said previous managers of Chicago’s mail operation had insisted there were enough carriers, even as the union argued otherwise. He said the recent audit proved the managers had been wrong.

On an April visit to Chicago, U.S. Postmaster Gen. John E. Potter is finishing an audit of the Chicago district, which will highlight problems and suggest solutions.

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FedEx lawsuit could cost USD 630 million

Posted by | Aug 9, 2007 | |

A federal judge in South Bend this month will weigh whether lawsuits filed by independent contractors against FedEx Corp. in two dozen states should be combined.

About 150 independent contract drivers, designated by FedEx as part-time employees, seek to be classified as full-time workers, according to Bloomberg. That would entitle them to benefits and paid time off.

FedEx also could be forced to buy up to 15,000 trucks used by the drivers, at USD 45,000 apiece. According to some estimates, a favorable ruling for contract drivers could cost the Memphis-based company USD 630 million.

FedEx has been nipping at the heels of larger United Parcel Service, grabbing nearly 20 percent of the ground-delivery market, while UPS has shrunk to 70 percent from 82 percent over the past decade.

The Teamsters union, which represents UPS drivers, is behind the flurry of lawsuits, according to FedEx. It filed as evidence with the court copies of emails between the union and attorneys representing the independent drivers.

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FedEx Kinko’s to Introduce Locations in McCormick Place

Posted by | Aug 9, 2007 | |

FedEx Kinko’s and the Metropolitan Pier and Exhibition Authority (MPEA) today announced plans to open five office and print centers in the McCormick Place convention center and historic Navy Pier in Chicago. Detailed plans provide for four locations to open within the convention center facility and one in Navy Pier later this fall.

The presence of FedEx Kinko’s in McCormick Place will provide the convention center’s nearly three million annual visitors with convenient access to high-quality office, printing and shipping services all in one place, without leaving the facility. In addition, customers anywhere in the world may submit orders online for production at the new FedEx Kinko’s locations, saving the hassle of traveling with hefty materials and presentations.

The new FedEx Kinko’s centers will be located in the North, South, and West Buildings and Lakeside Center (formerly the East Building). Similar to stand-alone FedEx Kinko’s Office and Print Centers, these locations will offer copying and digital printing services, sign and banner production, FedEx Express and FedEx Ground shipping options, and more.

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