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.
Some local construction sites may not be receiving concrete Thursday after about 80 metro-east laborers went on strike Thursday morning.
The Teamsters Union Local 50 in Swansea announced the work stoppage after members had been delivering ready-mix concrete while working without a contract for the past year and a half. Union president Scott Alexander said the laborers were no closer to a settlement over their wages, pension and health care benefits.
Reserve your spot early for the TDU Convention—Oct. 23-25, Cleveland Airport Sheraton—and save money. Register before October 1, to get an early bird discount.
Lockheed Martin said on Monday that it would buy Sikorsky Aircraft, the maker of the Black Hawk helicopters favored by the United States military, from United Technologies Corporation for $9 billion in cash.