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More than 100 retirees gathered outside two UPS terminals Thursday to protest a company plan to cut their pensions by 20 percent.
Many are calling it the latest attack on the Central States Teamster Pension Plan.
There are 32,000 workers in Missouri alone who are vested in this pension plan. And protesters claim they all would feel the pain, arguing that if UPS can cut pension payments by 20 percent, other employers will follow.
FedEx Corp. (FDX) squared off against rival United Parcel Service (UPS) Thursday, announcing that it will skip additional charges for most residential deliveries this holiday season. The package delivery services are locked in a duel as Americans increasingly make their purchases at Amazon.com (AMZN) and other online retailers.
FedEx will, however, slap a fee for packages that are oversized or unauthorized, or require additional handling, the shipping giant said. It noted in a statement that the volume of oversized packages during the holidays has increased by approximately 240% over the past 10 years, and larger, heavier packages now account for 10% of all ground volumes.
Outlook for 2H17
According to Richard Peretz, UPS’s CFO, “Second quarter results were in line with our expectations and we are pleased with the progress on our strategic initiatives. Looking at the second half of the year, our core business performance will continue to produce solid results.”
Peretz added, “UPS reaffirms 2017 adjusted diluted EPS guidance to be between $5.80 and $6.10, which includes about $400 million, or $0.30 per share of pre-tax currency headwinds.”
The United Parcel Service is being sued for an automobile collision that ended with a fatality and was allegedly caused by one of its delivery truck drivers last June.
Seeking up to $2 million in damages, Randy Moody Jr. filed suit against UPS and Paul Mouton on July 26 in Jefferson County District Court.
According to the lawsuit, on June 17, 2016, Moody was driving a silver Mercedes C class on U.S. Highway 69 near W. Cardinal with a passenger. Mouton, who was driving a UPS truck, was traveling behind them.
When Moody cautiously reduced his speed, Mouton “violently collided” with his vehicle, causing Moody to collide with the vehicle in front of him, injuring him and killing his passenger.
Both of these package delivery giants are benefiting from the e-commerce revolution, but one is more likely to deliver share price gains to investors.
FedEx and United Parcel Service changed the world by making rapid delivery of goods a reality. Demand for fast shipping has skyrocketed as e-commerce has grown, and both companies have worked hard to capture their fair share of the market. But which of these transportation giants’ stock is likely to be the smarter investment under current conditions? Let’s compare.