United Parcel Service Inc. is in talks to buy Coyote Logistics LLC, a provider of transportation and shipping services, according to people familiar with the matter.
UPS Inc. said it will buy 46 million gallons of renewable diesel over three years, 15 times greater than prior contracts, as the company seeks to further reduce carbon emissions. In its statement, the package company said the move will enable it to buy more than 12% of ground fuel from alternative sources within two years and become “one of the largest users of renewable diesel in the world”.
July 28, 2015: UPS profits for the second quarter went up, even though revenue is down. The company is squeezing more profits out of every package and every worker.
UPS Inc. posted second-quarter net income of $1.23 billion, or $1.35 per share, helped by stronger results in the international sector. The results represented a 9.9% increase over last year’s second quarter, when net income was $1.11 million, or $1.21, excluding a $665 million charge for pension-related costs. Revenue dipped 1.2% to $14.1 billion, affected by fuel surcharge and currency factors.
July 28, 2015: The Central States Pension Fund (CSPF) Trustees have sent a letter to the US Department of Treasury stating that they want to propose their “rescue plan” pension cuts on or about August 31.
A Cook County judge on Friday threw out a 2014 law aimed at reducing multibillion-dollar shortfalls in two Chicago pension funds, a decision city officials have said could leave the retirement accounts insolvent in a little more than a decade or lead to massive tax increases.
The labor protest movement that fast-food workers in New York City began nearly three years ago has led to higher wages for workers all across the country. On Wednesday, it paid off for the people who started it.
Mayor Eric Garcetti on Saturday signed into law a bill raising the minimum wage from $9 an hour to $15 over the next five years. The move was expected after city council had passed the legislation by a near unanimous vote.
UPS Inc. announced it is making collision-mitigation technology from Bendix Commercial Vehicle Systems standard equipment on every Class 8 tractor the company orders. Atlanta-based UPS plans to take delivery of more than 2,600 new tractors this year. The technology includes lane-departure warnings, electronic stability control and air disc brakes. The systems also can alert drivers to objects in front of the tractor and to moving objects around the vehicle.
Pickets returned to the Minneapolis Warehouse District on Saturday, nearly 81 years to the day after a strike there turned violent when police shot 67 truckers, killing two and sparking the city’s labor movement.