Tag: USA

FedEx hopeful of pilot deal soon

Posted by | May 10, 2006 | |

FedEx Corp is hopeful of a successful conclusion to talks with its pilots’ union after more than two years without a deal, a top executive said on Wednesday. “We think we have put together a good package for the pilots,” corporate vice president for strategic financial planning and analysis James Hudson told Reuters on the sidelines of a transportation conference organized by investment bank Bear Stearns in New York. “We are hopeful we will be able to reach an agreement that will be fair to the pilots, their families, our customers, our company and our shareholders,” he added. FedEx and the union representing its 4,700 pilots are due to start federally mediated talks next week. Negotiations on a new contract began in March 2004.

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FedEx Express & Indianapolis Airport Authority unveil plans for expansion of carrier's hub

Posted by | May 9, 2006 | |

FedEx Express and the Indianapolis International Airport today unveiled a major expansion project for the express carrier’s Indianapolis Hub and a multi-year extended lease agreement that includes construction of up to 14 additional wide-body aircraft gates. Up to approximately 800 additional employees could be hired under the expansion plan, which would bring the hub’s employment level to nearly 5,000 people. The expansion will increase package processing capacity more than 30 percent, from 75,000 packages per hour to 99,000 packages per hour, at the second-largest domestic FedEx Express hub behind Memphis. Additional capacity is needed at the hub to meet forecasted long-term package-volume growth, particularly for international shipments. FedEx operates international flights from Indianapolis to Europe, Asia and Canada.

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USPS proposes 25 percent postage increase for newspapers

Posted by | May 8, 2006 | |

Postal rates in May 2007 could rise nearly 25 percent for in-county newspapers if the US Postal Service (USPS) has its way, and annual increases are in store for the foreseeable future. USPS announced that it intended a larger rate hike for local newspapers than for virtually any other mail class. The proposed increase is the highest in more than a decade. The announcement came with the filing of proposed rate increases for all mail, including a 42 cent first-class stamp. Rates would be expected to go into effect around May 2007. Stephen M. Kearney, Postal Service vice-president of pricing and classification, said the increases were planned to cover rising postal costs, including health care for retirees and higher fuel costs. He also said USPS wanted rates that send appropriate signals to mailers to change their mail to shapes and containers that were more efficient for USPS to handle. “National Newspaper Association vigorously opposes this increase,” said NNA President Jerry L. Reppert.

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UPS Board sets dividend

Posted by | May 8, 2006 | |

The Board of Directors of UPS today declared a regular quarterly dividend of 38-cents per share on all outstanding Class A and Class B shares. The dividend is payable May 31, 2006, to shareholders of record on May 15, 2006.

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UPS shareowners elect Board

Posted by | May 4, 2006 | |

Shareowners of UPS today elected a Board of Directors for 2006 and reappointed Deloitte & Touche LLP as the company’s independent auditor. Twelve directors stood for election to the Board of Directors and all were overwhelmingly elected to one-year terms. The appointment of Deloitte & Touche to serve as the company’s independent auditors for 2006 also was ratified.

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