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UPS will become the primary air cargo provider for the United States Postal Service. The Atlanta shipping company said Monday that it had received an air cargo contract from the U.S. UPS will move the majority of air cargo in the U.S. for the postal service following a transition period, according to UPS. USPS’s current air cargo contract with FedEx Corp. is set to expire in late September. Last month the International Air Transport Association said that total demand for air cargo, which is measured in cargo ton-kilometers, climbed 18.4% in January compared with the prior-year period.
Persons: Brie Carere, Louis DeJoy Organizations: United States Postal Service, U.S . Postal Service, UPS, FedEx Corp, FedEx, USPS, FedEx Express, U.S . Mail, International Air Transport Association, United Parcel Service Inc Locations: Atlanta, U.S, Puerto Rico, airfreight
What’s open and closed on MLK Day 2024
  + stars: | 2024-01-14 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
However, the first national celebration of MLK Day didn’t take place until 1986 after years of advocacy. Here’s what’s open and closed on Martin Luther King, Jr. Day 2024. Bing Guan/Bloomberg/Getty ImagesMajor US retailers and grocers — such as Target, Walmart and Kroger — will be open on MLK Day. MLK Day is one of six free entrance days in 2024. FedEx will be open, though FedEx Express and FedEx Ground Economy will be operating on modified service.
Persons: Martin Luther King, Jr, John Conyers, King, Here’s, Bing Guan Organizations: New, New York CNN, MLK, Retail, Costco, Bloomberg, Getty, Major, Target, Walmart, Kroger, Sam’s, US National Parks, United States Postal Service, UPS, FedEx, FedEx Express, Nasdaq, New York Stock Exchange Locations: New York, New Hampshire
It ships the goods to FedEx returns centers, where they are sorted by merchant. Consolidating returns can lower transportation costs as much as 20%, said Amena Ali, CEO of returns services provider Optoro. Meanwhile, rival UPS is buying Happy Returns to beef up its e-commerce returns business that has grown 25% since 2020. Roughly 5,200 UPS Store locations will join Happy Returns' established drop-off points, making the service available at more than 12,000 U.S. locations, UPS said. FedEx accepts no label, no box returns at 10,000 U.S. locations including FedEx Office, FedEx Express Ship Centers, and Walgreens (WBA.O).
Persons: Bing Guan, Ryan Kelly, FedEx's, Kelly, Amena Ali, Lisa Baertlein, Will Dunham Organizations: FedEx, Los Angeles International Airport, REUTERS, United Parcel Service, Walmart, Reuters, Optoro, UPS, FedEx Office, FedEx Express Ship Centers, Walgreens, Thomson Locations: Los Angeles , California, U.S, Los Angeles
What’s open and closed on Veterans Day 2023
  + stars: | 2023-11-10 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
New York CNN —Veterans Day honors active and former US service members. However, since that day falls on a Saturday this year, some will observe the holiday on Friday, November 10. Here’s what will be open and closed on Veterans Day 2023 and the day on which some will observe it. On Friday, the day before Veterans Day, FedEx will operate as normal except for modified service for FedEx Express and FedEx Ground Economy. On Saturday, FedEx will close FedEx Ground, FedEx Ground Economy and FedEx Freight.
Persons: JPMorgan Chase, Wells, Justin Sullivan, Mario Anzuoni, Joe Raedle Organizations: New, New York CNN, Veterans, Banking Federal, Governors, Bank of America, Saturday, JPMorgan, Bank, Citibank, The New York Stock Exchange, Nasdaq, Veterans Day, FedEx, FedEx Express, Economy, FedEx Freight, United States Postal Service, Reuters Government, Miami - Dade Public Library, Getty, Target, Walmart, Kroger Locations: New York, Wells Fargo, San Bruno , California, , Miami, Miami , Florida
New York CNN —Americans celebrate Indigenous Peoples’ Day and Columbus Day on the second Monday of October each year. Indigenous Peoples’ Day recognizes the contributions and legacy of those who lived here long before Christopher Columbus erroneously claimed to have discovered America. President Joe Biden formally recognized Indigenous Peoples’ Day in 2021 by signing a proclamation stating that federal policies “systematically sought to assimilate and displace Native people and eradicate Native cultures.”Some states officially celebrate Indigenous Peoples’ Day and others commemorate it through proclamations. More than 100 cities have replaced Columbus Day altogether with the holiday. Chase Bank and TD Bank will be open for Indigenous Peoples’ Day.
Persons: Christopher Columbus, Joe Biden, Organizations: New, New York CNN, Indigenous, Columbus, , Indigenous Peoples, Federal Reserve, Nasdaq, New York Stock Exchange, Banks, Bank of America, Citibank, Chase Bank, TD Bank, Mail, United States Postal Service, UPS, FedEx, FedEx Express, Target, Walmart, Kroger Locations: New York, America, Wells Fargo
CNN —The union representing pilots flying cargo planes for UPS say they will not cross picket lines if Teamsters strike next month, a spokesperson for the Independent Pilots Association confirmed to CNN. The heads of the two unions say in letters to each other that their support proved pivotal during a previous Teamsters strike in 1997. “No one wants a work stoppage, but should a legal IBT strike be initiated, you and the IBT can count on the IPA for support.”This does not mean UPS pilots are going on strike, rather there will be a work stoppage as they vow not to fly UPS cargo. Such as high value spare parts, pharmaceuticals, medical devices, anything of high value or high opportunity cost”Without UPS’ Pilots – the company will not be able to move anything from California to New York in a day. “This certainly is even more pressure on ups management to come to a deal with teamsters,” said Miller.
Persons: , Robert Travis, , Jason Miller, Miller Organizations: CNN, UPS, Teamsters, Independent Pilots Association, , Department of Supply Chain Management, Michigan State, Pilots, teamsters, UPS Air, FedEx Express Locations: California, New York
FedEx reaches tentative deal with pilot union
  + stars: | 2023-05-31 | by ( ) www.reuters.com   time to read: +1 min
May 30 (Reuters) - FedEx Corp (FDX.N) has reached a tentative agreement with pilots of its air delivery unit who had voted in favor of a strike earlier this month seeking higher pay, the package delivery company said in a statement on Tuesday. The Air Line Pilots Association (ALPA) had voted "overwhelmingly" in favor of a strike if needed, when it had entered the final stages of a contract negotiation with the company. FedEx did not provide any further details on the agreement. The agreement prevents a possible strike after 99% of about 6,000 FedEx Express pilots that ALPA represents voted in favor of one, as they asked the company to meet recently improved industry standards for pilot pay. Reporting by Bharat Govind Gautam and Priyamvada C in Bengaluru; Editing by Shailesh Kuber and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
Persons: ALPA, Bharat Govind Gautam, Priyamvada, Shailesh Kuber, Sherry Jacob, Phillips Organizations: FedEx Corp, Air Line Pilots Association, FedEx, FedEx Express, Thomson Locations: Bengaluru
SOUTHWEST AIRLINES CO (LUV.N):The Southwest Airlines Pilots Association (SWAPA) in May said its members at the company approved a strike mandate. It added that 98% of its members participated in the vote and 99% voted in favor of authorizing a strike. UNITED AIRLINES HOLDINGS INC (UAL.O):Last year, ALPA said 94% of the nearly 10,000 United Airlines pilots voted to reject a contract offer. SPIRIT AIRLINES INC (SAVE.N):In January, ALPA said pilots at Spirit Airlines voted to ratify a new contract. More than 97% of the union members took part in the vote and 99% of them authorized union leaders to call a strike, if needed.
May 17 (Reuters) - Pilots of FedEx Corp's (FDX.N) air delivery unit on Wednesday voted "overwhelmingly" in favor of a strike if needed, the Air Line Pilots Association said as it enters the final stages of a contract negotiation with the company. With aviators in short supply and air travel demand booming, pilots are enjoying enhanced bargaining power, encouraging them to push for better contracts with airlines and parcel firms. More than 97% of the union members took part in the vote and 99% of them authorized union leaders to call a strike, if needed, by the pilots of FedEx Express. "We are still in productive negotiations with our pilots under the supervision of a government-appointed mediator and will return to the bargaining table next week," FedEx said in a statement. Pilots' union at Southwest Airlines Co (LUV.N) too had recently backed a strike mandate ahead of the busy summer travel season.
FedEx Express pilots vote in support of strike, union says
  + stars: | 2023-05-17 | by ( ) www.reuters.com   time to read: +2 min
May 17 (Reuters) - Pilots of FedEx Express, a unit of FedEx Corp (FDX.N), have voted "overwhelmingly" in support of a strike, the Air Line Pilots Association (ALPA) said on Wednesday. From over 97% of members who participated in the vote, 99% authorized union leaders to call a strike, if needed, to achieve a new contractual agreement with the delivery firm. FedEx pilots are currently working under contractual provisions and benefits arrived at in 2015, after negotiations for a new agreement began in 2021. Earlier this month, Southwest Airlines Co's (LUV.N) pilots union said its members had approved a strike mandate by an overwhelming majority ahead of the busy summer travel season. If either side declines, both parties enter a 30-day "cooling off" period, after which pilots and management can engage in self-help - a strike by the union or a lockout by management.
"We will be consolidating our operating companies into one unified organization," FedEx CEO Raj Subramaniam told investors Wednesday. The shift will make FedEx's operational strategies more like competitors UPS and DHL. Regulatory risk brings up an old questionThere may also be some risks coming to the new, integrated FedEx from outside the company. In a stark difference between UPS and FedEx, UPS falls under the National Labor Relations Act and FedEx Express under the Railway Labor Act. Betting the future on slower servicesThe third risk analysts raised was market share.
"We will be consolidating our operating companies into one unified organization," FedEx CEO Raj Subramaniam told investors Wednesday. The shift will make FedEx's operational strategies more like competitors UPS and DHL. Regulatory risk brings up an old questionThere may also be some risks coming to the new, integrated FedEx from outside the company. In a stark difference between UPS and FedEx, UPS falls under the National Labor Relations Act and FedEx Express under the Railway Labor Act. Betting the future on slower servicesThe third risk analysts raised was market share.
Raymond James is optimistic on FedEx after the shipping giant announced Wednesday a cost-cutting restructuring plan. He retained his price target of $285 per share, which implies almost 24% upside from Wednesday's close price. DRIVE is FedEx's comprehensive $4 billion cost-cutting plan which includes consolidating FedEx Ground, FedEx Express and other operating companies into FedEx Services. Analyst Thomas Wadewitz has a buy rating on shares and sees the stock rising 13%. FedEx shares were up 1.3% Thursday before the bell.
The move to integrate FedEx Ground, its outsourced package delivery arm, with the FedEx Express overnight air delivery business was announced almost a year after activist investor D.E. FedEx Express is already handling FedEx Ground's pickup and deliveries in Alaska and Hawaii - fueling concerns that Ground contractors in the lower 48 states could be let go. John Smith will become president and CEO of U.S. and Canada ground operations at FedEx Express and assume leadership of surface operations across the FedEx Express, FedEx Ground and FedEx Freight businesses from April 16. FedEx Freight will continue to provide freight transportation services as a standalone company under the Federal Express Corp banner, the company added. Shares in FedEx, which also announced a 10% dividend boost on Wednesday, were up about 2% in mid-morning trade.
FedEx had come under criticism from investors last year for its subpar performance compared to UPS, which has a unionized workforce. In response, FedEx outlined extensive plans to cut costs, including parking planes and reducing headcount. The phased transition announced Wednesday will ultimately bring FedEx Express, FedEx Ground, FedEx Services and other FedEx operating companies into Federal Express Corporation and will be headed by present Chief Executive Officer Raj Subramaniam, the company said. John Smith will become president and CEO of U.S. and Canada Ground Operations at FedEx Express and assume leadership of surface operations across the FedEx Express, FedEx Ground and FedEx Freight businesses, effective April 16. FedEx Freight will continue to provide freight transportation services as a stand-alone company under the Federal Express Corp banner, the company added.
FedEx Express, which does precisely-timed deliveries , has been struggling the most. FedEx is at a critical point in its 52-year evolution and founder Fred Smith's pride and joy — the company's Express delivery service — has become the firm's problem child. "Can FedEx Express shrink itself to prosperity?" "For a very long time, over 10 years, improved Ground service is diluting or cannibalizing existing Express deliveries," Maciuba said. "Was there a tremendous amount of fat in FedEx Express?
A worker sorts packages at a FedEx Express facility on Cyber Monday in Garden City, New York, US, on Monday, Nov. 28, 2022. FedEx reported adjusted earnings of $3.41 per share, topping analysts' estimates of $2.73 per share, according to Refinitiv. Meanwhile, the company's revenue fell below expectations. FedEx posted $22.17 billion in revenue, while analysts had estimated $22.74 billion. First Republic Bank — The bank's shares were down 15% during after-hours trading.
In this photo FedEx logo is seen in Washington D.C., United States on February 16, 2023. FedEx on Thursday hiked its full-year earnings forecast as it said cost-cutting measures offset continued demand weakness at units including FedEx Express. FedEx now expects adjusted earnings per share for fiscal year 2023 of between $14.60 and $15.20, up from a prior forecast of between $13.00 and $14.00. FedEx reported net income of $771 million for the period, down from $1.11 billion during the same quarter a year earlier. The company also said it expects volumes to improve in the current quarter and into its fiscal first quarter of next year.
The union representing FedEx pilots unanimously approved a strike authorization vote last week, according to a Wednesday press release. According to a statement on the FedEx pilots' website, pilot leaders allege the company has failed to "acknowledge pilot contributions." After 30 days, pilots and management could exercise self-help, which could include a union strike or a company lockout. A statement by pilot leaders says FedEx customers should plan alternative means in the event of a pilot strike. The update comes a month after the Southwest Airlines pilots' union called a vote to authorize a potential strike after souring contract negotiations.
FedEx warned delivery contractors Monday not to throw packages, Insider has learned. The memo also warned against "offensive markings on packages and indecent public exposure." These actions range from package tossing and careless handling to obscene or offensive markings on packages and indecent public exposure," reads the memo. FedEx's Ground delivery service doesn't directly employ drivers like FedEx Express. Though on-time performance has largely recovered, the Monday memo from FedEx indicates further concern about the brand and drivers' impact on it.
Some insiders see the layoffs as a failure of leadership and fear a lasting shift in FedEx culture. But now, some also question if the company Smith built is changing for good. "The erosion just kept happening," said one former FedEx who left the company in the last year. Inside the company, employees are doing the back-of-the-envelope calculations on the cuts still to come — Subramaniam promised $4 billion and cuts this fiscal year. "There is still that emphasis that people are first at FedEx," said a 15-year FedEx veteran who left last year.
Teamsters representatives say UPS has raised drivers' layoffs at the bargaining table. At least three locations in New York have already seen layoffs, according to another chapter. The affected position, according to the union, is the "22.4" driver, named for the section of the contract that created the position. These drivers work Tuesday through Saturday and top out at $30.64 per hour, while regular drivers can reach $42. UPS and the Teamsters Union did not immediately respond to a request for comment.
The two planes came close to colliding when the FedEx plane was forced to overfly the Southwest plane to avoid a crash, two sources briefed on the matter told Reuters. "Shortly before the FedEx aircraft was due to land, the controller cleared Southwest Flight 708 to depart from the same runway," the Federal Aviation Administration (FAA) said. The NTSB separately said it was investigating "a possible runway incursion and overflight involving airplanes from Southwest Airlines and FedEx." The Southwest plane had not yet departed when the FedEx plane was nearing the runway. The Cancun, Mexico-bound Southwest flight, a Boeing 737-700, safely departed and landed at 9:47 a.m.
WASHINGTON, Jan 13 (Reuters) - European planemaker Airbus (AIR.PA) said it had withdrawn from a U.S. government-named panel reviewing Boeing’s (BA.N) safety processes and how they influence Boeing safety culture after two fatal 737 MAX crashes in recent years killed 346 people. Congress directed the agency to appoint a panel by early 2021, but the FAA missed that deadline. Boeing last week declined to comment on the panel, but previously emphasized it has significantly reformed its safety culture after the MAX crashes cost it more than $20 billion. read moreIn May, the FAA opted to renew Boeing's Organization Designation Authorization (ODA) program for three years rather than the five years Boeing sought. The FAA continues to subject Boeing to enhanced oversight, inspecting all new Boeing 737 MAXs and 787s before they can be delivered.
WASHINGTON, Jan 5 (Reuters) - The Federal Aviation Administration (FAA) said Thursday it had named 24 experts to review Boeing’s safety management processes and how they influence Boeing’s safety culture after two fatal 737 MAX crashes killed 346 people. Boeing did not immediately comment Thursday, but has previously emphasized it has made reforms to its safety culture that cost the company billions of dollars. In September, the FAA finalized a policy to protect aviation employees who perform government certification duties from interference by Boeing and others. In May, the FAA opted to renew Boeing's Organization Designation Authorization (ODA) program for three years rather than the five years Boeing sought. The FAA continues to subject Boeing to enhanced oversight, inspecting all new Boeing 737 MAXs and 787s before they can be delivered.
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