UPS And CyPhy Works Test Drone For Urgent Commercial Delivery

UPS® (NYSE:UPS) announced today that it has begun testing the use of drones to make commercial deliveries of packages to remote or difficult-to-access locations, working together with drone-maker CyPhy Works.

Testing began on Thursday when the companies staged a mock delivery of urgently needed medicine from Beverly, Mass. to Children’s Island, which is about three miles off the Atlantic coast. The drone flight advances an investment made by The UPS Strategic Enterprise Fund in CyPhy to gather information about drone uses and capabilities.

UPS To Open Advanced Technology Package Center In Compton, CA

Additional pickup and delivery services will address commercial and residential volume growth with $70 million capital investment.

UPS (NYSE: UPS) today announced plans for a new package center in Compton, CA. The building, located in a former brick factory site redevelopment project, is being modified to dispatch more than 300 delivery vehicles and add 50 full-time equivalent jobs when operational in late 2017.

Fedex and UPS Raise Their Shipping Rates – Investopedia

Oil falls and shipping rates rise. Unfortunately this is the reality we live in, where both Fedex Corp and United Parcel Service Inc charging more for delivery in a period of low gas prices. Fedex announced their rate increases yesterday after market close; UPS announced rate increases earlier this month. The increases, which were expected, will take effect in January 2017.

New York seeks $872 million from UPS in cigarette shipments trial – Reuters

New York state and city authorities took United Parcel Service Inc to trial on Monday, urging a federal judge to make the company pay more than $872 million for making illegal deliveries of more than 683,000 cartons of untaxed cigarettes.

The non-jury trial before a federal judge in Manhattan came in a lawsuit by New York Attorney General Eric Schneiderman and New York City as part of the state’s ongoing efforts to combat smuggling of cigarettes from lower-tax areas.

 

Top UPS execs get more stock incentives, 10 percent raises – Atlanta Business Chronicle

Four top execs at United Parcel Service Inc. are getting additional stock incentives and 10 percent raises.

The Atlanta-based shipping giant (NYSE: UPS) said Friday its board’s compensation committee upped the compensation arrangements of Chairman and CEO David P. Abney, Senior Vice President and Chief Financial Officer Richard N. Peretz, Chief Commercial Officer Alan Gershenhorn and President of U.S. Operations Myron A. Gray “in order to improve the competitiveness of UPS executive compensation.”