USPS Looks to the Future
Post office awaits Harvard University study, creates CEO task force to look at business Copyright 2001.
Read MoreTag: USA
Schenker revamps U.S. unit
Schenker AG, the German-based forwarder, is revamping its U.S. operations in an effort to boost its presence here. “We mainly serve a European customer base. We want a U.S. customer base,” Karl-Heinz Feldmann, executive vice president for corporate development at Stinnes AG, the company’s said in an interview.
Read MoreUPS stakes claim to forwarding
United Parcel Service staked its claim to the forwarding and customs brokerage business Thursday when it closed on its acquisition of Fritz Cos., and revealed that it had also acquired a stable of smaller customs brokerage companies specializing in trade with Canada and Mexico.
Those companies will be combined with Fritz and UPS’s existing freight forwarder business in a new, as yet unnamed unit, with an estimated $750 million in annual revenue.
Read MoreFedEx suspends employee profit sharing
Employees are finding out exactly what “stringent cost controls” really means at Memphis-based FedEx Corp. as the economy continues to deteriorate its core overnight air express business. For instance, approximately 150,000 employees, including management, of FedEx Corp., the holding company, and its FedEx Express and FedEx Services units have had their profit sharing benefits suspended indefinitely. Profit sharing will not be paid out for the second half of fiscal 2001 as well as for the entire fiscal 2002 unless the company’s business improves significantly, confirmed Shirlee Clark, FedEx spokesman, Monday.
Read MoreUPS acquires IShip.com
United Parcel Service Inc. has acquired the Bellevue-based IShip.com unit of Stamps.com Inc. for an undisclosed amount.
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