United Parcel Service Inc on Tuesday said it is testing “smart lock” technology that allows its delivery drivers to open doors and drop multiple packages at secure locations inside apartment buildings around New York City.The test includes “hundreds of non-doorman” multi-family buildings in Manhattan and Brooklyn that have installed Latch’s “smart access system.” The project comes as UPS is working to make “last-mile” e-commerce deliveries to households more convenient and cost effective by reducing package theft and the need for drivers to make repeated delivery attempts.
The UPS Store, Inc. and Inc. Magazine have announced the three finalists for the Small Biz Salute Pitch Off, a national competition that will reward one small business owner with $25,000 and an editorial feature in Inc. Magazine to help grow their business.
On August 8, Keitha Dendy of League City, Texas; Megan Eddings of Houston, Texas; and Bryanne Leeming of Boston, Massachusetts will compete at the Small Biz Salute Pitch Off event in Detroit, Michigan where the grand prize winner will be announced during the event.
Wadewitz upgraded UPS to Buy from Neutral and raised his price target by $4, to $125, while he downgraded FedEx to Neutral from Buy and lowered his price target to $256 from $283.
So what’s behind the call? For UPS, he writes that a combination of cost and productivity improvements, along with a supportive sales backdrop, could boost margins in its domestic package business, and fuel stronger operating income growth next year. “UPS has multiple cost-side drivers including its Transformation initiative and network investments while we believe that the new Teamsters agreement may also facilitate growth,” he writes.
The Sandy Springs-based shipping giant plans to hire 2,500 to 3,000 people to work at its Southeast Metro Automated Routing Terminal hub in Atlanta by November.
However, the majority of the positions at the facility will be part-time: Of the total, about 700 will be full-time jobs, including drivers, mechanics and managers.