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UPS News

Fate of 400,000 Teamster pensions rests in Ken Feinberg’s hands – Pensions and Investments

Fred Allsen, a retired truck driver and disabled Vietnam War veteran, has received a $2,700 pension check every month for the past decade. That may not last much longer.

By May 7, federal mediator Kenneth Feinberg must decide whether to accept a plan to cut Mr. Allsen’s payouts and those of thousands of other teamsters to prevent the Central States Pension Fund from going broke. The decision could set a national precedent for other multiemployer funds.

“It would be devastating,” said Mr. Allsen, 66, who spent 32 years trucking freight in Illinois and now lives in Cape Coral, Florida. His pension check could be reduced by more than half. “We’d have to cut back on everything to survive.”

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Industry News UPS News

Brazilian anti-trust authorities rejected an appeal by UPS against the merger of FedEx & TNT

FedEx Corporation has gained approval from Brazil’s anti-trust authorities as the Conselho Administrativo de Defesa Econômica (CADE) has rejected a third-party appeal filed by United Parcel Service over the takeover. The CADE has cleared FedEx for an all cash $4.8 billion takeover bid for TNT. The takeover will incorporate all issued, and outstanding shares of TNT including American depository receipts (ADR) as well.

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UPS News

Christie at UPS groundbreaking in Parsippany – Daily Record

Touting an incentive-laden deal to keep UPS in New Jersey — and bring it to Parsippany — as ” a clear sign of where New Jersey is headed,” Gov. Chris Christie attended the groundbreaking of the company’s new 200,000-square-foot technology center.

“We have recovered from the long recession,” Christie said. “We have put more of our people back to work than anytime before. And that’s not government doing it. That’s private-sector companies like UPS.”

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Industry News UPS News

Why Amazon Isn’t a Threat to FedEx Corporation or United Parcel Service, Inc. – Motley Fool

The market is worried about the threat to the package delivery firms coming from online retailers expanding their cargo networks.

First it was Amazon.com) drones that were set to destroy the businesses of FedEx Corporation and United Parcel Service, Inc. Now it’s the online retailer’s expansion of its air-cargo network. It all sounds dramatic, but in reality Amazon’s moves don’t present a significant threat to the two mega-logistics players. Here are five reasons why.

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UPS News

At UPS Healthcare, packages are patients – Louisville Business First

United Parcel Service Inc.’s health care facilities in Louisville don’t ship packages — they ship patients.

OK, not really. But that’s how the workers there are told to think of the boxes full of medical devices and special drugs that UPS ships all over the world every day from its 1.4 million-square-foot UPS Healthcare facilities at Louisville International Airport.