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☆ A massive UPS strike could devastate the economy. It could be just eight weeks away
▼ + stars: | 2023-06-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN —The Teamsters union is holding a vote right now among more than 330,000 members to authorize a strike against UPS. If UPS workers strike, it would be the largest single-employer strike in US history. UPS (UPS) is simply too big – delivering an average of 17 million domestic packages a day – to have all the packages it handles moved by competitors. The strike vote being conducted through July 16 is likely to pass overwhelmingly, as virtually all such votes do. If a deal is reached, but a majority vote against it, there will still be a strike this time.

Persons: couldn’t, Sean O’Brien, ”, Carol Tome, it’s, O’Brien, “, James Hoffa, Hoffa, ” O’Brien Organizations: New, New York CNN, Teamsters, UPS, United, FedEx, US Postal Service, CNN, ” Union, Teamster, Deutsche Bank Locations: New York, United States

While the overall market awaits a debt ceiling deal, certain stocks are forming notable patterns followed by chart analysts: the bullish golden cross and the dreaded death cross. Meanwhile, a death cross is the exact opposite. Stocks closing in on a death cross pattern include American Express and United Parcel Service. A bullish pattern forms Shares of paint company Sherwin-Williams are forming a bullish golden cross. Shares of shipping giant UPS are also on pace to form a death cross.

Persons: Sherwin, Williams, Refinitiv, Carol Tomé Organizations: CSX, American Express, United Parcel Service, CNBC, Abbott Laboratories, U.S . Food, Drug Administration, Mobile Locations: U.S

☆ UPS will stop delivering to some rural neighborhoods as often, as it looks to slash costs
▼ + stars: | 2023-05-18 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

UPS is piloting making less frequent deliveries in rural areas, the company confirmed to Insider. UPS is experimenting with delivering on fewer days per week in very rural areas, the company confirmed to Insider. The pilot will cover roughly 1% of zip codes, a UPS spokesperson said, noting that most UPS customers won't be affected. UPS has been adding surcharges on top of more and more rural packages in recent years to offset these costs. But that work started with rural packages where having separate facilities and staff makes even less financial sense.

☆ I'm a bear when it's called for, like in 2007. But this stock market belongs to the bulls
▼ + stars: | 2023-04-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I have not been bombarded with as many warnings about how we are about to embark upon a wave of failures of all sorts — shadow banks, regional banks, commercial real estate lenders, real estate investment trusts — at any time since 2007. Let's take commercial real estate. I mention SL Green because it may be the most challenged of the REITs, real estate investment trusts, other than Vornado Realty Trust (VNO), a historically fine New York real estate concern, which just delayed its dividend. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

☆ UPS and FedEx are shrinking as packages evaporate. Automation could make the changes permanent.
▼ + stars: | 2023-04-27 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

Revenue in the first quarter was down 6% and package volume was down by 5.4%. Both UPS and FedEx are downshifting and planning futures with smaller, more efficient networks. But beyond initial cuts, UPS and FedEx are leaning into technology upgrades to shrink strategically and emerge from the doldrums more efficient. The company has already begun the combination of Ground and Express, which will involve closing Express facilities and moving those operations into nearby Ground buildings. These networks have long acted as a moat around UPS and FedEx — making entering the delivery space so expensive it was rarely attempted.

☆ CNBC exclusive: UPS CEO Carol Tomé talks Q1 results, labor negotiations and AI
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC exclusive: UPS CEO Carol Tomé talks Q1 results, labor negotiations and AIUPS CEO Carol Tomé sits down with Worldwide Exchange anchor Frank Holland after the company released first-quarter results. Tomé discussed the current demand environment, the impact of people returning to offices, the ongoing negotiations with the Teamsters labor union and AI.

☆ UPS shares fall after delivery giant reports disappointing earnings
▼ + stars: | 2023-04-25 | by ( Natasha Piñon | ) www.cnbc.com time to read: +4 min

United Parcel Service shares fell Tuesday after the American trucking and delivery giant reported first-quarter misses on both earnings and revenue. To some analysts, the relatively weak report from UPS hints at a wider economic slowdown, particularly when coupled with CEO Carol Tomé's comments. Tomé told CNBC on Tuesday that a larger, industry-wide decline in retail sales in the month of March impacted UPS as well. Previously, UPS projected revenue between $97 billion and $99.4 billion, versus analysts' estimates of $99.98 billion. In its fourth-quarter earnings call, Chief Financial Officer Brian Newman said the company expected 2023 "to be a bumpy year."

☆ High-stakes negotiations between UPS and the Teamsters started this week. Catch up on the issues union leaders have vowed to strike over.
▼ + stars: | 2023-04-22 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

Friction has already increased as the Teamsters accused UPS of slow-walking local negotiations. UPS said that the parties have traditionally worked on the national and supplemental contracts simultaneously and are ready to negotiate. In order to avoid a promised strike, O'Brien has said he wants better pay for part-time workers, an end to a lower-paid classification of weekend drivers, and a list of other demands. This is UPS CEO Carol Tomé's first union negotiation and she has said that the parties are not as opposed as they seem. Bone up on the issues the Teamsters have threatened to strike over with the stories below.

REUTERS/Aude GuerrucciLOS ANGELES, April 17 (Reuters) - United Parcel Service (UPS.N) and the International Brotherhood of Teamsters union will on Monday start U.S. private sector labor contract talks covering roughly 340,000 U.S. drivers, package handlers and loaders at the global delivery firm. The powerful Teamsters union wants an agreement that shares billions of dollars in UPS pandemic profits with workers, exerts leverage over other negotiations and helps to recruit new members - including Amazon warehouse workers. UPS, the world's biggest parcel delivery firm and No. "Failure is not an option," Teamsters General President Sean O'Brien told a rally on an April 2 in Boston. These are the first labor talks for both O'Brien and UPS CEO Carol Tomé.

☆ UPS and FedEx are clawing back ground from smaller package-delivery firms. Here's how the little guys plan to defend their share.
▼ + stars: | 2023-04-13 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Amazon, FedEx, UPS, and the postal service hold 97% of the US package delivery market. Smaller delivery companies were major beneficiaries of the pandemic boom times for e-commerce. "There was a long runway for these delivery companies when FedEx and UPS didn't want your business," said Derek Lossing, an Amazon Logistics alum who now advises investors. Smaller carriers are competing less with UPS and FedEx, and more with each other. UPS and FedEx will still be in the picture, but the smaller players can outperform them in some areas.

☆ New data shows who's winning and losing as companies like UPS, FedEx, and Amazon battle for fewer e-commerce packages
▼ + stars: | 2023-03-27 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

New data from Pitney Bowes shows Amazon was the only major carrier that didn't see a drop in 2022. In 2022, delivery companies shipped 21.2 billion packages — 2.2% less than in 2021 but more than 37% higher than 2019. When retailers have less package volume to spread around, the big guys get persuasive with their discounts, Ramachandran said. But in terms of package volume, it was the only major carrier to hold its 2021 package volume in 2022. Like UPS and FedEx, Amazon may also strategically choose not to grow package volume, but not by turning down customers.

☆ FedEx warns it won't bail out UPS customers at the last minute if drivers strike
▼ + stars: | 2023-03-18 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

The Teamsters Union has threatened a UPS strike when its contract expires in July. UPS CEO Carol Tomé has repeatedly said that a "win-win-win" is "very achievable" for the Teamsters, UPS employees at large, and the company, despite the union's spicy rhetoric. But even the threat of a UPS strike this summer, which would be the first since 1997, is already driving some UPS customers to look for alternative shipping options. Carere also suggested that FedEx is not interested in serving as a temporary solution for UPS customers. FedEx customers were alerted to the March 31 in a letter distributed earlier this month.

☆ UPS plans to lay off some of its controversial weekend drivers, union reps say, as delivery companies downsize for post-pandemic life
▼ + stars: | 2023-02-13 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

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.

☆ This package shipped from Mississippi to Michigan — via Puerto Rico. Here's why some shipments go on circuitous journeys.
▼ + stars: | 2023-02-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

A small bubble wrap envelope of cosmetics shipped by the US Postal Service from Mississippi headed for Michigan — 750 miles away. When USPS analyzed the tracking for this package a spokesperson told Insider it was simply a mistake. One package's circuitous route from Mississippi to Michigan via Puerto Rico Emma Cosgrove/USPS"Each employee makes a concerted effort to process and deliver each piece of mail and unfortunately, on very rare occasions, instances of mail delivery issues may occur. Across the US package delivery industry, there are more than 59 million packages shipped every day, according to the latest figures from Pitney Bowes, an e-commerce shipping firm. The USPS spokesperson declined to give a misload rate for the postal service.

☆ UPS and the Teamsters prepare for high-stakes talks with union contract set to expire
▼ + stars: | 2023-02-03 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +6 min

But Tomé's optimism comes as the Teamsters union, which represents more than 340,000 UPS workers, amps up pressure on the delivery giant. "Whether there is a strike of UPS workers is up to UPS," said Kara Deniz, a spokesperson for the Teamsters. The talks start in April, with the current national contract set to expire on July 31. In the fourth quarter of 2022, UPS workers delivered a global average of 28 million packages per day, according to the company's website. For the first time, Teamsters Union President Sean O'Brien and the union's secretary of the treasury will have seats at the bargaining table and be directly involved in negotiating the terms of the new contract.

☆ FedEx to cut senior jobs as part of larger staff reduction
▼ + stars: | 2023-02-01 | by ( Lisa Baertlein | ) www.reuters.com time to read: +3 min

FedEx did not say how many positions would be affected by the new layoffs. In mid-September, FedEx pulled its profit forecast and shares swooned more than 20% - the largest single-day drop in the company's 50-year history. But those numbers only tell part of the story because they exclude roughly FedEx 6,000 contractors and their workers, who handle most of the FedEx Ground's home delivery business. FedEx already has temporarily furloughed workers at its trucking division FedEx Freight as the pandemic-fueled e-commerce delivery bubble deflates and recession threatens, joining transportation-focused companies ranging from delivery upstart Amazon.com (AMZN.O) and trucking company C.H. Robinson Worldwide (CHRW.O) to freight broker Uber Freight and freight forwarding startup Flexport in announcing layoffs.

☆ UPS CEO addresses dangerous heat inside trucks and contentious weekend deliveries as a driver strike threatens to upend millions of deliveries
▼ + stars: | 2023-02-01 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

The union has been preparing to strike for months, but UPS CEO Carol Tomé has said she wants a contract that's good for the Teamsters, UPS employees at large, and the company. Weekend warriorsWeekend deliveries have been a point of tension between UPS and the union for years. Because the contract restricts how many 22.4s the company can hire, UPS often pays weekday drivers overtime to work Saturdays. In fact, we're not waiting for the bargaining table," Tomé said. "UPS Management talks about return on invested capital but UPS #Teamsters are the capital...Time to invest in them & spread the wealth," O'Brien tweeted.

☆ UPS revenue falls short of expectations despite growth in U.S. business
▼ + stars: | 2023-01-31 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Total revenue: $27.03 billion vs $28.09 billion. It is projecting revenue between $97 billion and $99.4 billion, versus analyst's estimates of $99.98 billion. In the fourth quarter, revenue for UPS's domestic segment, which makes up about two-thirds of the company's revenue and most of its business-to-consumer transactions, grew 3%. Last quarter, UPS also announced it would cut $500 million in capital expenditures by, for example, leasing rather than buying certain locations. The shipping company's shares fell over 10% in 2022 as consumer spending adjusted to inflation and came down from pandemic highs.

☆ UPS soared through the pandemic — but its biggest challenge in 25 years is still to come
▼ + stars: | 2023-01-30 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +4 min

UPS CEO Carol Tomé successfully led UPS through the pandemic. Then, he was a UPS hub manager in the Seattle area — almost halfway through his two decades with the company. But it's headed into rough terrain again this year as the contract with its union drivers expires this summer, threatening a strike that could disrupt millions of deliveries. O'Brien wants to use the UPS negotiations as a sales pitch to Amazon workers — demonstrating what a union can get them. All the while, they've demonstrated record profits," Gooding said of UPS.

☆ The Teamsters' new chief is readying UPS drivers for a strike as he heads toward contract negotiations — and key moves show he's not bluffing
▼ + stars: | 2022-12-31 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

UPS drivers will be ready to strike next summer, said the Teamsters general president Sean O'Brien. The process left many members disenchanted with their union, multiple UPS drivers told Insider. Partly as a reaction to those grumblings, Teamsters lifer Sean O'Brien was elected to take over the union's leadership last year. And for months, O'Brien has openly spoken about UPS drivers going on strike for the first time in 25 years. O'Brien has said publicly several times that he plans to use the UPS contract negotiations as an example for other workforces that have yet to unionize — especially Amazon.

☆ Logistics Companies Are Diversifying Hiring, but Challenges Persist
▼ + stars: | 2022-11-28 | by ( Liz Young | ) www.wsj.com time to read: +8 min

Photo: Sarah Oden/Associated PressWomen and people of color are being hired into top roles in the logistics industry. United Parcel Service Inc. turned to Carol Tomé, a former finance chief at Home Depot Inc., in 2020 to become chief executive officer. Raj Subramaniam, who is from India, was chosen to succeed FedEx Corp. founder Fred Smith as chief executive earlier this year. Judy McReynolds has been chief executive of ArcBest Corp. , one of the largest trucking companies in the U.S., since 2010. Studies also show there is a big gap in pay across the logistics industry.

☆ Gig labor could have challenged FedEx and UPS. Now it's making them stronger.
▼ + stars: | 2022-11-26 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

But UPS and FedEx have taken the cue and are integrating flexible workers in their own ways. Gig goes mainstreamWhere smaller players sometimes rely entirely on gig workers, UPS and FedEx are incorporating flexible laborers to complement full-time workers where and when deliveries are less consistent or particularly costly. Despite all that growth, the ecosystem around gig workers — regulation, banking, insurance, and more — is underdeveloped. And though gig workers often covet flexibility, they can easily end up with next to no job security and extremely variable earnings. In response, legislators have tended toward blunt force tactics — potentially eliminating all independent contractors in the name of gig workers.

☆ UPS beats profit estimates on higher parcel delivery prices
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - United Parcel Service Inc (UPS.N) on Tuesday reported a stronger-than-expected quarterly adjusted profit and reaffirmed its full-year forecast as higher delivery prices helped offset softening e-commerce demand. Delivery firms such as UPS and FedEx Corp (FDX.N) have banked on higher-paying small businesses and enterprise customers to drive volumes and earnings in the wake of falling e-commerce demand and receding domestic volumes. Atlanta based UPS' shares were up about 1% in premarket trade as the company reaffirmed its full-year revenue forecast of about $102 billion and adjusted operating margin of around 13.7%. The world's largest parcel delivery firm's quarterly revenue of $24.2 billion missed analysts' estimates of $24.3 billion, as consolidated average daily package volumes declined 2.1% to 22.9 million in the quarter. UPS adjusted third-quarter profit rose to $2.99 per share beating Wall Street estimates of $2.84 per share.

☆ UPS CEO Carol Tomé discusses recent earnings, recession risks and end-of-year outlook
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUPS CEO Carol Tomé discusses recent earnings, recession risks and end-of-year outlookUPS CEO Carol Tomé joins 'Squawk on the Street' to discuss what gave Tome the confidence to reaffirm UPS' guidance, if a worldwide recession is on the horizon and if the company's pricing resiliency can continue.

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