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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein: As UPS nears a potential strike, we might see a trade-up in FedExDavid Vernon, Senior Analyst at Bernstein, discusses the potential labor strike between UPS and the Teamsters union, and which stocks will be most impacted.
Persons: Bernstein, FedEx David Vernon Organizations: UPS, FedEx, Teamsters
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
Dow theory: a primer The rules around the Dow Theory were formulated more than 120 years ago by Charles Dow himself (though he himself never used the term Dow Theory). "Dow Theory was formulated when the Dow Industrials were stuff makers, and the railroads were stuff movers," Tom McClellan, editor of the McClellan Market Report, told me. New Dow Theory also confirms a new high There have been attempts to formulate a "New Dow Theory." Tuesday, the S & P 500 closed at 4,554 (up 19% this year), and the Nasdaq closed at 14,354 (up 37% year-to-date). The S & P 500 is up 9% since May 1.
Persons: Dow, Charles Dow, Tom McClellan, McClellan, David Keller, Keller, hasn't, It's, Jeff Hirsch, Hirsch Organizations: Dow Jones, Dow Jones Transportation, Dow, Dow Theory, Dow Transports, Dow Railroads, FedEx, UPS, Nasdaq Locations: U.S, uptrends
A 10-day UPS strike could cost the US economy over $7 billion, according to a new report. UPS and the Teamsters union representing 340,000 UPS employees have until July 31 to negotiate a new contract. That would make it the costliest work disruption in 100 years, and the largest strike against a single employer in US history, the firm found. If UPS and the Teamsters union representing 340,000 employees don't agree to a new contract by then, the strike could commence. In preparation for a strike, UPS has been training their more than 100,000 non-union employees to take over some work.
Persons: It's Organizations: UPS, Teamsters, Service, Privacy, Anderson Economic Group, Retailers, FedEx, USPS Locations: Wall, Silicon
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/fedex-taps-john-dietrich-as-cfo-succeeds-retiring-michael-lenz-cf3b0c48
Persons: Dow Jones, dietrich, michael, lenz, cf3b0c48 Organizations: fedex
FedEx appoints new CFO
  + stars: | 2023-07-17 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Signage is seen on a FedEx location in Manhattan, New York City, U.S., September 3, 2021. REUTERS/Andrew KellyJuly 17 (Reuters) - FedEx Corp (FDX.N) on Monday appointed former CEO of Atlas Air Worldwide John Dietrich as chief financial officer, effective Aug. 1. FedEx said Dietrich, a veteran in the aviation and air cargo space, has held numerous leadership roles at Atlas Air Worldwide since 1999. The development comes months after the company outlined $4 billion in permanent cost cuts by the end of its 2025 financial year. Last fiscal year, FedEx slashed about 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries.
Persons: Andrew Kelly, John Dietrich, Michael Lenz, Dietrich, Priyamvada, Devika Syamnath Organizations: FedEx, REUTERS, FedEx Corp, Monday, Atlas Air, Atlas Air Worldwide, Thomson Locations: Manhattan , New York City, U.S, Memphis, Bengaluru
FedEx names John W. Dietrich as EVP and CFO
  + stars: | 2023-07-17 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFedEx names John W. Dietrich as EVP and CFOCNBC's Frank Holland joins 'Power Lunch' to report on FedEx naming a new EVP and CFO.
Persons: John W, Dietrich, CNBC's Frank Holland Organizations: FedEx
UPS representatives told some customers that managers will begin strike contingency training Friday. UPS representatives told some customers Thursday that non-union management staff across the country would begin training for strike roles on Friday, according to a customer briefed on the plans by a UPS representative. UPS told the customer, a mid-sized retailer, that it's prioritizing which customers will still receive service in the case of a strike and warned that many packages will require extra transit time. UPS told customers it's still committed to reaching a deal by the deadline. The last time the Teamsters went on strike at UPS in 1997, any managers with the necessary licenses were asked to drive delivery trucks while other managers sorted and loaded packages.
Persons: it's Organizations: International Brotherhood of Teamsters, UPS, FedEx, Teamsters, Reuters Locations: Washington , DC
That estimate from Michigan-based Anderson Economic Group (AEG) includes UPS customer losses of $4 billion and lost direct wages of more than $1 billion. A 15-day UPS strike in 1997 disrupted the supply of goods, cost the world's biggest parcel delivery firm $850 million and sent some customers to rivals like FedEx (FDX.N). Roughly 340,000 union-represented UPS workers handle about a quarter of U.S. parcel deliveries and serve virtually every city and town in the nation. A strike could delay millions of daily deliveries, including Amazon.com (AMZN.O) orders, electronic components and lifesaving prescription drugs, shipping experts warned. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike that shut down its profitable U.S. operations.
Persons: Patrick Anderson, Anderson, GM's, Bruce Chan, Chan, Lisa Baertlein, Priyamvada, Pooja Desai, Jonathan Oatis, David Gregorio Our Organizations: United Parcel Service, Anderson Economic Group, AEG, UPS, FedEx, stoke, International Brotherhood of Teamsters, Teamsters, Consumers, UAW, Teamster, Thomson Locations: U.S, Michigan, Los Angeles, Bengaluru
To determine which states have the best economy, we look at overall economic growth and annual job growth on a percentage basis, as well as the health of state finances. We measure the breadth of each state's economy by looking at how many major corporations are headquartered there. IndianaWhile the Hoosier State's economy is hardly a barnburner, Indiana offers stability. The state's debt rating is solid. UtahThe Beehive State's economy just keeps buzzing.
Persons: Christina, Dupont De Nemours, Incyte Carlos Hernandez, Eileen T, Meslar, Eli Lilly, Kyle Green, Lucas Jackson, George Frey, Zions, Tim Aeppel, , Justin Sullivan, Lindsey Nicholson, Matthew Busch, payrolls, Jim Watson Organizations: Companies, Business, Getty, Bureau, AAA, Reuters, Indiana, Hoosier, Federal Housing Finance Agency, National Association of Realtors, Simon Property, Bloomberg, Gem, Data Solutions, Micron Technology, Lamb Weston Holdings, South, South Carolina, Union Pacific, Automotive Designs, . Tennessee The Volunteer State, Headquarters, FedEx, Tractor, Delta Airlines, Peach State, Assurant, Intercontinental Exchange, Universal, North, Bank of America, Duke Energy, Just Energy Group, Texas, Lone Star State, Oracle, Tesla, AFP Locations: U.S, States, Wilmington , Delaware, Delaware, Middlebury , Indiana, , Indiana, CBH, Calvary Springs, Nampa , Idaho, Idaho, California, York County , South Carolina, South Carolina, Palmetto, South, Salt Lake City , Utah, Utah, Bristol , Indiana, Tennessee, Alpharetta , Georgia, Georgia, Denver , North Carolina, North Carolina, Houston , Texas, The Texas, Texas, New York, Miami , Florida, Florida
FedEx sent a memo to its delivery force encouraging security awareness in the event of a strike. Unlike unionized UPS, FedEx uses a network of small businesses that contract out its delivery routes and make package deliveries. A FedEx spokesperson told Insider that alerting delivery contractors of potential disruptions is normal practice. A Teamsters spokesperson dismissed FedEx's memo as "scare tactics to capitalize on a possible work stoppage at UPS." Who gains from a UPS strike?
Persons: Glenn Gooding, who's Organizations: UPS, Teamsters, FedEx, International Brotherhood, iDrive Logistics, , United States Postal Service
Free shipping as we knew it is over
  + stars: | 2023-07-11 | by ( Yeji Jesse Lee | ) www.businessinsider.com   time to read: +4 min
Most online shoppers have come expect free shipping, according to a recent survey. It says companies like Macy's and Abercrombie & Fitch have raised their free shipping minimums online. Free shipping "wasn't going to last, and finally the party is over," Satish Jindel, president of shipping data company ShipMatrix, told the Journal. According to data from shipping technology firm Shippo, nearly two-thirds of Americans said they wouldn't buy something online without free shipping. "Having some type of free shipping option is now a permanent expectation," Krish Iyer, vice president of strategic partnerships at shipping software company Auctane, told Insider earlier this year.
Persons: Fitch, Narvar, Satish Jindel, minimums, Krish Iyer Organizations: Service, Privacy, Wall Street Journal, Retailers, Abercrombie, Amazon, Amazon Prime, Insider Intelligence, Carriers, UPS, FedEx, DHL Locations: Wall, Silicon, Narvar
Elisabeth Brown has been in the luxury travel industry for a decade helping clients plan trips. She mostly works from home, but often travels herself to try experiences before her clients do. Brown, along with her colleagues, has as many as five clients, and is able to customize their itineraries with suggestions. She's able to work from her home in Brooklyn most days, though that doesn't mean her days are laid back. As for a lunch, Brown says she's a "grazer" and snacks on carrots or pretzels throughout the day.
Persons: Elisabeth Brown, it's, Brown, , I've, Peter Anderson, What's, Anderson, she's, I'm, Noon, grazer, Elisabeth Brown She'll, they're Organizations: Service, Knightsbridge Circle, FedEx, New York University, Gramercy Locations: Wall, Silicon, London, North America, Stockholm, Singapore, Brooklyn, Copenhagen, Denmark, Iceland, Europe, Paris, West Coast, Kenya, New York, Manhattan
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/u-s-postal-service-wants-more-packages-to-wrest-business-from-ups-fedex-da5b2050
Persons: Dow Jones Organizations: fedex
Ten years ago, DoorDash launched a local delivery service from a Stanford dorm room. 1 food delivery operator in the US. Here are 10 big milestones for the on-demand delivery provider of groceries and restaurant meals. "Ultimately, our vision is to build the local, on-demand Fedex," DoorDash wrote in an October 2013 Medium post. The company started with food delivery but has since expanded to offer on-demand delivery of groceries, beauty supplies, and convenience store goods.
Persons: DoorDash, Tony Xu, Evan Moore, Stanley Tang, Andy Fang, Grubhub, Uber Organizations: Stanford, Service, Fedex Locations: Wall, Silicon, Stanford
UPS was founded four years later by a couple of teenagers as the American Messenger Company. The Teamsters became for a time the nation’s biggest private-sector labor union, and UPS became the world’s biggest package delivery company. In 1997 there was a 15-day strike that “largely crippled” UPS, as The Times reported at the time. Today UPS is the biggest employer of Teamsters, with a third of the union’s members. Earlier in the negotiations the Teamsters put me in touch with a couple of UPS drivers so I could get a sense of the rank and file’s perspective.
Persons: Jimmy Hoffa, Martin Luther King’s, Jason Dube, , , we’re Organizations: Teamsters, UPS, Brotherhood of Teamsters, American Messenger Company, Teamsters ’, Times, Saturday, FedEx Locations: Poland, Maine
Kathryn Keeler and her husband, Stuart de Haaff, own an olive oil company in the hills of central California. The couple spend their days harvesting olives, bottling the oil, labeling the glass bottles and shipping them out, relying primarily on UPS to get their product to kitchens throughout the United States. UPS handles about a fourth of packages shipped each day in the United States, according to the Pitney Bowes Parcel Shipping Index, many of them for small businesses like Ms. Keeler’s company. Some are preemptively turning to FedEx, the next largest private carrier in the United States, or the U.S. Postal Service, which generally handles lighter packages.
Persons: Kathryn Keeler, Stuart de Haaff Organizations: UPS, Pitney Bowes Parcel Shipping Index, FedEx, U.S . Postal Service, DHL Locations: California, United States, y Oro
That’s why there is so much at stake in contract negotiations between UPS and the Teamsters union. Without a deal, 340,000 Teamsters are preparing to go on strike at the nation’s largest trucking company starting August 1. A UPS strike could spread disruptions like that across much of the country. Their ability to adjust and find alternatives, it’s going to be challenging.”The economy has changed radically in the 26 years since the last UPS strike in 1997. UPS won’t comment on its contingency plans, saying it is focused on reaching a deal that would avoid a strike.
Persons: , Patrick Anderson, It’s, , Sean O’Brien, O’Brien, it’s, Holly Wade, Satish Jindel, Mike Eisner, Jindel, Eisner, Tommy Storch, you’ll, it’ll, ” Storch Organizations: New, New York CNN, UPS isn’t, UPS, Teamsters, Anderson Economic Group, CNN, “ Shipping, National Federation of Independent Business, FedEx, US Postal Service, Postal Service, USPS Locations: New York, Michigan
WASHINGTON, July 6 (Reuters) - A U.S. government watchdog will review Federal Aviation Administration (FAA) efforts to prevent airport runway incursions after a series of incidents where airplanes came dangerously close to each other. The U.S. Transportation Department Office of Inspector General (OIG) said it was opening its audit to assess FAA processes for analyzing data, identifying risks and preventing and mitigating runway incursions. The National Transportation Safety Board (NTSB) is investigating six runway incursion events since January including some near catastrophes. In March, the FAA said it was taking steps to improve air traffic control, convening a safety summit and issuing a safety alert. In April, it named an independent safety review team and in June announced $100 million for 12 airports to make improvements to taxiways and lighting to reduce runway incursions.
Persons: Jennifer Homendy, OIG, David Shepardson, David Gregorio Our Organizations: U.S, Federal Aviation Administration, FAA, U.S . Transportation Department, National Transportation Safety Board, OIG, FedEx, Southwest Airlines, Boeing, FedEx plane's, Delta Air Lines, American Airlines, Thomson Locations: Austin , Texas, Boston , Florida, New, JFK
The National Guard says it's struggling to hire as big private companies boost pay and benefits. Maj. Marco Irenze said, per a press release by the National Guard Association of the United States last month. Across all private nonfarm jobs, workers in production and nonsupervisory roles earned $28.75 an hour in May on average, per preliminary seasonally-adjusted BLS data. "This is the most challenging recruiting environment the Department of Defense has probably ever faced," Col. Anthony Pasquale, the chief of the Air Guard's recruiting & retention division, said, per the press release. As well as high wages in other industries luring workers away from the military, the pandemic also made it harder for the National Guard to recruit in traditional ways such as at high schools, the National Guard Association said.
Persons: it's, , Carl's, Marco Irenze, Irenze, didn't, Col, Anthony Pasquale Organizations: National Guard, Wendy's, UPS, FedEx, Microsoft, Service, Nevada Guard, National Guard Association of, Nevada Guard's, Battalion, Washington Air Guard's, Mobile, Illinois Army Guard's Woodstock Sustainment Program, Workers, Employers, Bureau of Labor Statistics, Department of Defense, Air, Air Guard, National Guard Association Locations: Amazon, United States, Nevada
New York CNN —A marathon negotiating session between UPS and the Teamsters union ended early Wednesday morning with both sides accusing the other of walking away from the table. The current contract expires July 31, which means 340,000 UPS workers could go on strike August 1. Many in the shipping community had been looking for a deal between UPS and the teamsters by the end of the July 4 holiday weekend, he said. Amazon also has its own delivery service now. Neither side has publicly detailed the economic offer that UPS made or what the Teamsters are demanding.
Persons: Satish Jindel, , ” Jindel, , Sean O’Brien, , ” What’s Organizations: New, New York CNN, UPS, Teamsters, US Postal Service, nonunion FedEx, teamsters, FedEx, Postal Service Locations: New York,
What’s open and closed on July 4
  + stars: | 2023-07-03 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +1 min
Here’s what will be open and closed. Postal servicesThe US Postal Service will be closed on Tuesday and won’t be delivering mail. Normal FedEx services will be closed. However, FedEx Office will be open with modified hours and FedEx Custom Critical will be open. All United Postal Service operations will be closed except for UPS Express Critical.
Persons: won’t Organizations: New, New York CNN, Kroger, Walmart, Costco, Sam’s, Federal Reserve, Nasdaq, New York Stock Exchange, US Postal Service, Normal FedEx, FedEx Office, FedEx, United Postal Service, UPS Locations: New York, Independence
Full-time Airbnb hosts Kent He and Nathan Turner are efficient with their time. He spends 2-3 hours a week managing his properties, while Turner spends no more than 15 hours. "We probably only work 10 to 15 hours a week," said Nathan, who used to deliver for FedEx. The Turners and He shared five tools they use that help them work efficiently on their Airbnb businesses and free up more time. You may have the most unique Airbnb property, but if you don't properly market it, guests might never see.
Persons: Nathan Turner, Turner, Rankbreeze, doesn't, Nathan, Taniera Turner, Taniera, , Monday.com Turner, Airbnb, I'm, It's, they'll Organizations: Kent, FedEx, Marriott, Google Locations: San Diego, Scottsdale , Arizona, Houston, Scottsdale, PriceLabs
New York CNN —The Teamsters union says it has walked away from negotiations with United Parcel Service with just over a month to go before its contract expires. In fact, most union labor negotiations include a strike authorization vote by rank and file, and most negotiations conclude with an agreement rather than a strike. Even if they vote no, it does not mean a strike is inevitable, especially this far from a strike deadline. UPS CEO Carol Tome has insisted there can be a deal reached that is a win for the union members, the company and its customers. Teamsters point to record UPS profitsThe Teamsters haven’t publicly disclosed the wage increase union negotiators are seeking.
Persons: Sean O’Brien, , , Carol Tome, Teamsters haven’t, O’Brien Organizations: New, New York CNN, Teamsters, United Parcel Service, UPS, ” Unions, Disney, FedEx, US Postal Service Locations: New York
Then the war came, and according to the family history, Union soldiers plundered Sessions’ 27-room house. About 48 years old at the time, he did not stand a chance to succeed without slavery, the family history suggests. ‘A Better Nation’Some historians and genealogists say there is a valuable reason for white leaders – and other white Americans – to explore their links to slavery. Nicka Sewell-Smith, a professional genealogist with the family history website Ancestry.com, said people frequently ask her what to do with such documents. The top Democrat on the House Foreign Affairs Committee, Meeks said in an interview that he has spent years trying to trace his family history back before 1870.
Persons: Black, Mitch McConnell, Lindsey Graham, Tom Cotton, James Lankford, Elizabeth Warren, Tammy Duckworth, Jeanne Shaheen, Maggie Hassan, Joe Biden, , Donald Trump –, Jimmy Carter, George W, Bush, Bill Clinton, Barack Obama, Trump’s, Amy Coney Barrett, Neil Gorsuch –, Asa Hutchinson, Doug Burgum, Tim Scott, James Clyburn, Henry McMaster, , Henry Louis Gates Jr, Gates, ” “, ” Gates, enslavers, Tony Burroughs, Biden, Obama, McConnell, Burroughs, Joseph Maddox, Maddox, Sela, Rubin, James, Sal, Sam ”, Graham, Graham didn’t, Nancy Mace, Drucilla, Drucilla Mace, John Mace, Hector Godbolt, John Mace’s, Godbolt, , ” Nancy Mace, Henry Coe, Duckworth, Coe, Margaret, Isaac, Warner, George …, Isaac Franklin –, “ There’s, ” Duckworth, George Floyd, Donald Trump, ” Biden, , , Ben Affleck, ” Affleck, Independent Angus King, Mo Brooks, ” Brooks, Sean Kelley, Kelley, White, don’t, wasn’t, Richard Sessions, Pete Sessions, Richard’s, William Sessions, John Cowger, Tom Cotton of, ” Cotton’s, Cowger, Cotton, Archibald Crawford, Juneteenth, Shaheen, Pocahontas, Edmond Dillehay, Peter ”, Milly, Lankford, ” Lankford, Joe Wilson, Stephen H, Wilson, Boineau, General David Addison Weisiger, Wilson –, Addison Graves Wilson –, Weisiger “, ” Wilson, Daniel Weisiger, Daniel Weisiger’s, Samuel, Samuel Weisiger, Daniel, Julia Brownley, Jesse Brownley, Brownley, ” Brownley, Thomas Ferguson, Brooks, Manumission, Marie Jenkins Schwartz, ” “ It’s, Union General William Tecumseh Sherman, Harvard’s Gates, Sherman, Andrew Johnson, Abraham Lincoln, Nicka Sewell, Smith, Ancestry.com, ” Sewell, LaBrenda Garrett, Nelson, Garrett, Rick Larsen, John Wiggins, Larsen, – Gilbura, George, Agg –, ” Larsen, Gilbura, Agg, Gregory Meeks, Meeks, Jim Crow South, – Meeks, – “, ” Meeks, “ I’m, I’m, Tom Bergin, Makini Brice, Nicholas P, Brown, Donna Bryson, Lawrence Delevingne, Brad Heath, Andrea Januta, Gui Qing Koh, Tom Lasseter, Grant Smith, Maurice Tamman, Catherine Tai Design, John Emerson, Jane Ross, Emma Jehle, Jeremy Schultz, Blake Morrison Organizations: Reuters, Republicans, U.S, Supreme, Republican, Harvard University, PBS, United States Congress, Representative, WikiLeaks, Sony, Facebook, White, FedEx, National Museum of, 117th, Independent, University of Essex, Geographic, American Economic, Pete Sessions, Sessions, Federal Bureau of Investigation, Jeanne Shaheen U.S, CNN, Biden, Trump, ” Reuters, South, South Carolina General Assembly, Confederate, statehouse, Congressional, Chesterfield County, Mount Vernon College, George Washington University, Mo Brooks Former U.S, , New York Times, United, Federal Government, Union, Black, Southern, Democrat, House Foreign Affairs, Klux Klan Locations: U.S, America, Confederate States, Arkansas, North Dakota, South Carolina, Congress, Black, Northern, Southern, Illinois, Virginia, Frederick County , Virginia, United States, Minnesota, , Mo Brooks of Alabama, American, Texas, Mississippi, Chicot County , Arkansas, Chicot County, Tom Cotton of Arkansas, Yell County, Yell County , Arkansas, New Hampshire, Oklahoma, Tulsa, Georgia, Pennsylvania, Michigan, Frankfurt, Germany, Chesterfield County , Virginia, California, Portsmouth , Virginia, Alabama, Haywood County , North Carolina, Antebellum, United States of America, Washington, Nicholas County , Kentucky, Queens , New York, New York, York County, Mende, Sierra Leone, Africa, Bunce
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