April 27, 2001 |
United Parcel Service Inc. unveiled a business unit that it said will offer cheaper, faster and more efficient ways to send mail through the U.S. postal system, expanding the package deliverer's access to an estimated $15-billion market. Atlanta-based UPS said the new unit would include its recently acquired Mail2000 business, which electronically sorts and inserts time-sensitive first-class and standard mail, such as bills and financial statements, into the U.S. mail. The world's No.
April 26, 2001 |
United Parcel Service Inc. plans to end its charter service, citing a slowdown in the economy and its noncompetitive fleet of aging Boeing 727s. UPS Airlines, based in Louisville, Ky., is negotiating with travel companies to terminate the flights by year's end, spokesman Mark Giuffre said. The company uses four 727-100s each weekend for flights between Atlanta, Louisville, Philadelphia and Pittsburgh and several beach destinations in the Caribbean. A fifth jet was reserved as a spare.
January 17, 2001
* United Parcel Service Inc. said it agreed to buy First International Bancorp Inc. for about $78 million in stock, using the bank's expertise in handling government-backed loans to broaden the operations of its own financial services unit. First International primarily makes loans to small and mid-size manufacturers, distributors and wholesalers, using U.S. government-backed loan programs through the Small Business Administration, the Agriculture Department and the Export-Import Bank of the U.
December 15, 2000 |
An icy winter storm that left thousands without electricity or heat and contributed to more than a dozen deaths this week is also delaying the delivery of holiday packages, with a shipment backlog stretching from Chicago to Dallas. FedEx temporarily suspended its money-back guarantee for Thursday deliveries and it was too early to tell how long the suspension would last, said Cornell Christion, a spokesman for the Memphis, Tenn.-based parcel handler.
November 22, 2000 |
United Parcel Service Inc., getting a major boost from U.S. regulators, on Tuesday joined the roster of carriers entitled to make flights to China, one of the world's fastest-growing markets for freight and passenger traffic. UPS, beating out several rivals in a closely watched competition, won six of 10 new weekly flights awarded by the Transportation Department.
September 8, 2000 |
United Parcel Service Inc., the world's largest delivery company, said a business alliance between its rival FedEx Corp. and the U.S. Postal Service could raise antitrust concerns. FedEx, the largest overnight delivery company and UPS' primary competitor, and the postal service said they are in talks about an arrangement to deliver each other's packages.