Tag: USA

Blow to UPS and FedEx as Astar is judged to be US-controlled

Posted by | Dec 20, 2003 | |

A federal judge has ruled that Astar Air Cargo is a US-controlled air carrier, dealing a hefty blow to UPS and FedEx which have long argued the airline is owned and operated by the German postal monopoly, Deutsche Post.

The decision, administered by Burton Kolko, an administrative law judge at the Department of Transportation, removes a major hurdle for Deutsche Post as it muscles into the lucrative $47bn US package delivery market.

Astar flies almost exclusively express packages for DHL Worldwide Express, a subsidiary of Deutsche Post.

The decision also signals the near end of a three-year ordeal by FedEx and UPS to prove Astar’s close ties with Deutsche Post violate foreign ownership laws.

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FedEx posts large decline in quarterly profit

Posted by | Dec 18, 2003 | |

The FedEx Corporation, the overnight package-delivery company, has said that it had its biggest quarterly drop in net income in six years, as daily air shipments in the United States fell and more employees than expected took buyouts.

Shares of FedEx declined $3.30, to $71.01, on the news.

Many investors had forecast a rise in the domestic shipments, rather than the 1% decrease reported, after the economy expanded in the third quarter at the fastest annual rate in two decades.

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USPS fiscal year 2003

Posted by | Dec 18, 2003 | |

Revenue, pieces, and weight by classes of mail and special services for government fiscal year 2003 compared with government fiscal year 2002

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Fedex reports lower earnings in second quarter

Posted by | Dec 17, 2003 | |

FedEx Corp.’s second-quarter profits fell 63 percent from last year because of the costs of a previously announced early retirement and voluntary severance program. Its results missed Wall Street expectations and its shares fell more than 4 percent. The package delivery company reported Wednesday profits of $91 million, or 30 cents per share, for the quarter that ended Nov. 30, down from $245 million, or 81 cents a share, for the same period last year. Excluding the business realignment costs, most of which were taken during the quarter, the earnings totaled $266 million, or 87 cents per share. That fell short of the 90 cents forecast by analysts surveyed by Thomson First Call.

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Search for new DMA leader to begin in January

Posted by | Dec 17, 2003 | |

A search committee has been formed to find a replacement for H. Robert Wientzen, who announced plans to retire yesterday (16th December) as president/CEO of the Direct Marketing Association.

The committee consists of seven current and former members of the DMA’s board of directors and is led by past chairman Michael P. Sherman, vice chairman of Crosstown Traders Inc. They are working on what criteria to seek in a replacement and will have that done by early January, at which point a search firm will be named.

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