BrownCafe
The free shipping that consumers have come to expect when ordering online could be jeopardized by the latest rate hikes imposed by UPS (NYSE: UPS) and FedEx (NYSE: FDX) .
The average rate hike of 4.9% is the same amount the two carriers have imposed every year since 2010. But the increases in ancillary fees and surcharges are what could wreak havoc with free shipping, because they’re targeted at the residential customer — and some rates will rise as much as 30% or more.
Although UPS has couched the rate hikes as a way to improve customer service, John Haber, the CEO of supply chain consultancy Spend Management Experts, says the “rate increases are massive and are going to negatively impact shippers of all sizes.”
A woman was arrested for pointing a plastic gun at people while riding a tricycle and then stealing a package from a UPS truck.
Police have arrested a Florida woman accused of using a toy gun to rob a UPS truck and then trying to get away on a tricycle.
According to WBBH, Leida Crisostomo was arrested after officers responded to a call of a woman pointing a gun at people.
One of the victims said Crisostomo pointed the gun at a mail carrier, stole a package and rode away on a tricycle.
If you’ve been on the Seattle Underground Tour, you know that UPS launched here.
If you just said, “Wait, what?” this story is for you.
It starts in 1907 with a young man named Jim Casey. According to Dan McMackin, spokesperson for UPS, Casey came up with the idea to take messages from people and deliver them to others who didn’t have phones.
Messenger services existed in Seattle already, and competition was stiff. But Jim Casey had strict policies of customer service and low rates, and his personal mantra was “best service and lowest rates.”
Jim Casey, then 19, borrowed $100 and bought a bank of telephones and rented an office below a saloon in Pioneer Square — that office remains, but it’s underground.
It has been a jolly holiday season for retailers, and that has benefited FedEx (ticker: FDX) and United Parcel Service (UPS) too.
Where we were: Both stocks have trailed the market in 2018, with UPS off more than 20% and FedEx down nearly 38%.
Where we’re headed: The firms may have a better 2019, as capacity and execution seem aligned, says Cowen & Co.