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UPS’s New CEO Walks Into an Amazon Squeeze Magnified by Pandemic
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<blockquote data-quote="cheryl" data-source="post: 4515002" data-attributes="member: 1"><p><strong>UPS’s New CEO Walks Into an Amazon Squeeze Magnified by Pandemic - MSN</strong></p><p></p><p>As Carol Tomé takes over as chief executive officer of United Parcel Service Inc. on Monday, she inherits the Amazon dilemma: The same online shopping explosion that is increasing delivery volume also is squeezing profit margins.</p><p></p><p>How the former finance chief at Home Depot Inc. solves the conundrum -- which has been magnified by the coronavirus pandemic -- is likely to define her tenure at UPS. Prominent voices on Wall Street are already recommending that she reject some business from Amazon.com Inc., which is a significant customer as well as a burgeoning competitor.</p><p></p><p>“What she needs to do is take a very firm stance and say, ‘This is not going to work long term, you need to pay us more,’” said Cowen & Co. analyst Helane Becker. “If you say ‘No’ every once in a while, you probably wind up with a better relationship.”</p></blockquote><p></p>
[QUOTE="cheryl, post: 4515002, member: 1"] [B]UPS’s New CEO Walks Into an Amazon Squeeze Magnified by Pandemic - MSN[/B] As Carol Tomé takes over as chief executive officer of United Parcel Service Inc. on Monday, she inherits the Amazon dilemma: The same online shopping explosion that is increasing delivery volume also is squeezing profit margins. How the former finance chief at Home Depot Inc. solves the conundrum -- which has been magnified by the coronavirus pandemic -- is likely to define her tenure at UPS. Prominent voices on Wall Street are already recommending that she reject some business from Amazon.com Inc., which is a significant customer as well as a burgeoning competitor. “What she needs to do is take a very firm stance and say, ‘This is not going to work long term, you need to pay us more,’” said Cowen & Co. analyst Helane Becker. “If you say ‘No’ every once in a while, you probably wind up with a better relationship.” [/QUOTE]
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