United Parcel Service Inc. has cut its third-quarter earnings estimates because of a sharp drop in shipping activity immediately after the Sept. 11 attacks on the World Trade Center and Pentagon. UPS said in a statement it now expects to earn 45 to 48 cents per share, down from earlier, reduced guidance of 52 to 55 cents per share. The company had already lowered earnings expectations in July.
Read MoreATLANTA (BestWire) – The Internal Revenue Service lost another round in its fight to get United Parcel Service (NYSE:UPS) to pay back taxes and penalties related to the delivery firm’s operation of an offshore captive reinsurance program.
The U.S. 11th Circuit Court of Appeals in Atlanta rejected an IRS request for a new hearing on a judicial panel’s June decision that UPS’ former operation of Overseas Partners Ltd. was a legitimate business operation.
Read MoreFedEx Ground, a subsidiary of FedEx Corporation, is set to open 63 additional FedEx Home Delivery terminals throughout the United States to expand the service’s geographic reach to 80 percent of the U.S. population. (9/26/2001)
Read MorePITTSBURGH, Sep 25, 2001 (BUSINESS WIRE) — Today, FedEx Ground, a subsidiary
of FedEx Corporation (NYSE:FDX), will open 63 additional FedEx Home Delivery
terminals throughout the United States to expand the service’s geographic
reach to 80 percent of the U.S. population. FedEx Ground will co-locate 56 of the new FedEx Home Delivery terminals with
existing FedEx Ground facilities to optimize its network. (Please see below
for a complete list of expansion cities.) “Shippers and their customers continue to respond enthusiastically to the
service and we are expanding the network to achieve full U.S. coverage, more
than one year ahead of schedule,” said Daniel J. Sullivan, president and chief
executive officer of FedEx Ground. “We are committed to rolling out FedEx Home
Delivery at an accelerated rate and are pleased to extend the service to more
residential consumers across the country.” “More and more shippers are finding they can improve their own brand image by
adding value to their customers’ delivery experience at a competitive price,”
said T. Michael Glenn, president and chief executive officer for FedEx
Services. “Since its inception, FedEx Home Delivery volumes have steadily
grown and we expect them to continue to grow significantly over the next year
as a result of the service’s ability to serve a larger segment of the market
with its unmatched features and superior service.”
A Bill To Reform The Postal Laws Of The United States
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