Tag: USA

U.S. Postal Service says Chicago mail delivery improving

Posted by | Aug 9, 2007 | |

U.S. Postal Service officials say Chicago’s mail-delivery record is getting better, but still leaves a lot to be desired.

According to the agency’s most recent audit, mail delivery in city ZIP codes remains the nation’s worst.

The audit found that first-class mail sent between Chicago ZIP codes made it to the correct address the next day 93 pct of the time. That’s up from 90 pct in the first three months of the year.

The audit was for mail delivered between April and June.

Chicago postmaster Gloria Tyson says the district instituted reforms after a previous audit found the city’s in-town delivery ranked worst in the nation. She says the agency hired 240 more carriers, overhauled equipment and corrected nearly 143 thousand addresses.

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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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Construction Starts on UPS Air Hub in Shanghai

Posted by | Aug 9, 2007 | |

UPS and the Shanghai Airport Authority today conducted a formal groundbreaking ceremony for the UPS International Air Hub at Pudong International Airport.

“The opening of this hub will ensure we are well-positioned to support the explosive growth in Asia’s regional trade,” said UPS Chairman and CEO Mike Eskew, who attended the event. “Export volume growth in China and throughout Asia has been robust and the outlook remains bright. We are extremely proud to be the first U.S. airline to open an international air hub in China under the 2004 U.S.-China Air Services Agreement.”

Over the past five years, UPS has invested about USD 600 million in China, including a successful transition to become the first wholly-owned foreign express carrier in the country.

Located at the southern end of the West Cargo Terminal Area, the new hub will be built on a parcel totaling 1 million square feet and will open next year. Rapid expansion is planned to a sorting capacity of 17,000 pieces per hour. The new hub will link all of China via Shanghai to UPS’s international network with direct service to the Americas, Europe and Asia. It also will connect points served in China by UPS through a dedicated service provided by Yangtze River Express, a Chinese all-cargo airline.

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UPS announces three top financial assignments

Posted by | Aug 9, 2007 | |

Scott Davis, UPS vice chairman and chief financial officer, today announced a series of three appointments to key financial posts. Rich Peretz has been named vice president of finance; Teresa Finley the chief financial officer for international operations, and Andy Dolny the vice president of investor relations.

Peretz, 45, most recently has worked as the vice president of international finance. He will report to Davis and will be responsible for the functions of Treasury, procurement, risk management, investments and mergers and acquisitions.

Finley, 45, has served as UPS’s vice president of investor relations since November 2003 and will succeed Peretz, functioning as the chief financial officer for UPS’s international operations. She will report to UPS International President Alan Gershenhorn.

Dolny, 49, a certified public accountant and chief financial officer of UPS Supply Chain Solutions, will succeed Finley as the company’s top investor relations officer. He will report to Davis.

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