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Atlanta-based United Parcel Service Inc. (NYSE: UPS) is planning to use golf carts to make package deliveries in suburban and residential areas when needed.
The new delivery option comes as Kentucky law was recently loosened up on these vehicles. But Teamsters Local 89, which represents many UPS employees in Louisville, is speaking out against it.
The Ohio Civil Rights Commission on Thursday denied United Parcel Service Inc.’s request to reconsider its case after the commission found UPS likely engaged in unlawful discriminatory practices in 25 instances at the company’s Maumee distribution center.
More than 20 employees filed discrimination and harassment complaints against UPS stemming from incidents dating back to at least 2013. Commission members determined there is probable cause in 25 complaints, according to letters of determination — the commission’s summary of the complaints — provided last week by the organization.
On Thursday, the commission denied UPS’s request to reconsider its original determination, according to commission documents.
Trading for the stock of Memphis’ largest, locally based public company was halted for a brief time this morning.
FedEx Corp.’s trading was stopped Wednesday, June 28, “pending news.” FedEx Corp. put out a press release at 12:35 p.m. EDT that announced its TNT Express subsidiary was “significantly affected due to the infiltration of an information system virus.”
The package delivery company and its key rival United Parcel Service are facing increasing needs for capital spending in order to support growth.
It’s well known that package delivery giants FedEx Corporation (NYSE:FDX) and United Parcel Service (NYSE:UPS) have a long-term growth opportunity from burgeoning e-commerce deliveries, but what’s less understood is the increasing demand on the networks. It’s creating the necessity for increased capital expenditures, and that’s likely to negatively impact free cash flow generation in the future. Let’s take a closer look.
United Parcel Service is planning to freeze pension plans for thousands of nonunion employees, seeking to contain the burden of a retirement fund with a nearly $10 billion deficit.
The carrier is expected to announce measures to corral the rising pension obligations to its workforce Wednesday, people familiar with the matter said. Other details couldn’t be learned.
UPS has more than 434,000 workers world-wide, with more than 80% in the U.S. Most of them are unionized. Any retirement-plan changes would apply only to management employees, who number 78,000.