Tag: USA

US FedEx donates USD 1M to Martin Luther King memorial

Posted by | Sep 5, 2006 | |

FedEx Corp. announced Tuesday it is donating USD 1 million to help build a memorial to Martin Luther King Jr. on the National Mall in Washington, D.C.
Gina Adams, vice president of government affairs for Memphis-based FedEx Corp., will join Harry E. Johnson, president and CEO of the Martin Luther King Jr. National Memorial Project Foundation Inc., and Congressman Harold Ford Jr. Tuesday night to announce FedEx’s contribution in a Washington event.
Other companies, including General Motors, General Electric Co., and Exxon Mobil, have contributed to the memorial, according to the FedEx release. To date, the Memorial Foundation has raised USD 64 million of the USD 100 million needed to build and maintain the memorial.
“Dr. King will be the first man of color to be memorialized among past presidents and war heroes,” Ford said in a statement.

Read More

U.S. Postal Service renews ABX contract

Posted by | Sep 5, 2006 | |

The U.S. Postal Service has renewed ABX Air Inc.’s contract for its terminal handling services in Indianapolis, the cargo carrier said Tuesday.

ABX said the four-year contract is expected to generate additional revenue of USD 17.7 million.

Wilmington-based ABX also has won contracts from the postal service to manage its centers in Dallas and Memphis, Tenn. Each of the contracts has a provision for two, two-year extensions.

ABX Air, headquartered in Wilmington, operates a fleet of 100 aircraft and 18 hubs throughout the United States. It reported USD 1.46 billion in revenue last year.

Read More

U.S. Postal Service Renews ABX Air Contract for Indianapolis Hub

Posted by | Sep 5, 2006 | |

ABX Air, Inc. announced today that its subsidiary, ABX Cargo Services, has been awarded a new four-year contract to manage the U.S. Postal Service’s (USPS) terminal handling services in Indianapolis, Ind.
The contract is the third such award this year from the USPS for ABX. In July, ABX was awarded a contract to manage the USPS sort center in Dallas, Texas; in August, ABX was selected to manage the USPS sort center in Memphis, Tenn.
ABX has managed the USPS sort facility in Indianapolis since 2004. The new four-year contract expands ABX’s role there through October 2010 and is projected to generate USD 17.7 million in additional revenues for ABX over its term.
Under each of its USPS hub contracts, ABX will be compensated at a firm price for its fixed costs, plus an additional amount based on the volume of mail handled at each facility. Each contract provides for two, two-year extensions at the discretion of the U.S. Postal Service.

ABX Air is a cargo airline with a fleet of more than 100 aircraft that operates out of Wilmington, Ohio, and 18 hubs throughout the United States.

Read More

FedEx beating UPS in delivering stock growth

Posted by | Sep 3, 2006 | |

At first glance, United Parcel Service Inc. and FedEx Corp. seem alike. The two shipping giants compete for some of the same customers, and their operations are sensitive to trends in the world economy, such as rising oil prices.

But investors are rewarding FedEx for continuing to post healthy profits and to enforce strong cost controls. UPS, which has tightened its business, generates more revenue and has higher operating margins and return on invested capital than FedEx. Consequently, margins and return on capital at UPS haven’t changed much, while FedEx’s have steadily improved.

“FedEx, along with other best-in-class transports, has been able to offset higher operating costs with strong pricing growth and strict cost controls in other areas of their businesses,” BB&T Capital Markets analyst John Barnes said in a recent research note.

Operating margins and return on invested capital are measures of a company’s profitability, essentially gauging how well a company is running its businesses and using its money invested in its operations.

Since November 1999, when UPS went public, FedEx’s share price has more than doubled, to more than USD 101 a share. After a 36 percent run-up on their first day of trading, UPS shares are trading less than USD3 higher. In the past 12 months, UPS stock has traded between USD65.50 and USD83.99. FedEx had a 52-week low of USD76.81 and a high of USD120.01.

The result was a 15.9 percent decline in the UPS share price at one point during the day and 10 percent at the market’s close, its largest one-day percentage drop since going public. FedEx’s stock closed that day down USD1.13, or 1 percent, at USD109.31. FedEx earlier in July had reiterated its upbeat outlook for its fiscal year that began June 1.

Read More

FedEx Ground Package Systems wins USD11.49 Million delivery rrder

Posted by | Sep 2, 2006 | |

The U.S. Army has awarded a $11.49 million delivery order to FedEx Ground Package Systems Inc., Coraopolis, Pa., to support Defense Logistics Agency’s Surface Small Package program.

The contract was awarded by the Army’s Military Surface Deployment & Distribution Command, Alexandria, Va. Work will be performed in Anniston, Ala.; San Diego, San Joaquin, Barstow, Calif.; Jacksonville, Fla.; Albany, Warner Robbins, Ga.; Cherry Point, N.C.; Oklahoma City; Columbus, Ohio; Tobyhanna, Susquehanna, New Cumberland, Mechanicsburg, Pa.; Corpus Christi, Red River, Texas; Depot Hill, Utah; Norfolk, Richmond, Va.; and Puget Sound, Wash.

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

Have you noticed a decrease of non-EU inbound parcel volumes since the implementation of the new €3 charge?

Thank you for voting
You have already voted on this poll!
Please select an option!


View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest