Discuss: UPS Cuts 2007 Earnings 1.4%, Citing Accounting Error UPS Cuts 2007

[cheryl]

UPS Cuts 2007 Earnings 1.4%, Citing Accounting Error - Bloomberg
United Parcel Service Inc., the world's largest package-delivery company, reduced its 2007 adjusted earnings by 1.4 percent to $4.11 a share, from $4.17, citing an accounting error.

A $65 million tax benefit related to UPS's withdrawal from the Central States Fund, a multiemployer pension plan that covers 42,000 Teamsters union members at the company, was incorrectly recorded in the fourth quarter, Atlanta-based UPS said today in a statement.

[Rafterman]

That person needs to be termanated ASAP. There is no room for error at UPS