A UPS delivery truck driver from Maine who stole packages of pills intended for patients who are military veterans was sentenced Tuesday in U.S. District Court in Portland to serve two years of probation and pay nearly $1,400 in restitution.
Category: UPS News
Investors should prepare for United Parcel Service shares to keep falling if broad market conditions continue to deteriorate. Our team at Foundation Investing has been stalking this short since the middle of last year. Both macro and micro headwinds make UPS an attractive bear vehicle.
The United Parcel Service earns almost 75% of its revenues from deliveries within the United States. Unfortunately, many important U.S. economic indicators are starting to roll over. This is a bad sign for the economy. And a bad economy means fewer deliveries for UPS.
Recent tensions between UPS and Amazon have created a semi-hostile relationship. UPS couldn’t handle the costs incurred from delivering Amazon’s packages. In response, they jacked up their prices and Amazon threw a fit. Amazon relies on relentless cost cutting to stay afloat with their razor thin margins. Bezos’ intention is to ruthlessly undercut any and all competitors. In response to UPS’ price hikes, Bezos decided to start taking deliveries into his own hands.
A former United Parcel Service driver who stole shipments of gold and silver found himself fitted with steel handcuffs Wednesday as he was sentenced to eight months in Shasta County Jail and placed on formal probation for three years.
Kevin Christopher Peel, who would face more than eight years in prison if he violates his probation, was remanded into jail custody Wednesday after pleading no-contest in November to six felony counts of grand theft and a related enhancement.
Authorities say David M. Lewis offered UPS patients cash or other incentives
Plan was billed for unnecessary dental work or work not performed
Loss resulting from scheme may be as high as $1 million