MSN (January 23)
“UPS reported sharply lower earnings in the third quarter and said it expects lower revenue and thinner profit margins ahead.” The global shipper cited “a slowing global economy…for its gloomy forecast,” and its concern over “global macroeconomic uncertainty” has broader implications. “UPS is something of an economic bellwether, as its trucks move an estimated 6% of US gross domestic product and 3% of global GDP, the broadest measure of economic activity.”
Tags: Bellwether, Earnings, Economy, Global macroeconomic uncertainty, Gloomy forecast, Lower, Profit margins, Q3, Revenue, U.S., UPS
Wall Street Journal (August 26)
“Workers at the Detroit automakers voted overwhelmingly in favor of a measure that authorizes the United Auto Workers leadership to call for a strike as talks between the union and companies continue…. The negotiations are among a wave of protracted labor talks this year that have vexed companies and at times threatened to spill over into work stoppages. The International Brotherhood of Teamsters recently reached a five-year contract agreement with United Parcel Service, dodging a potential standoff that could have rippled across the U.S. supply chain.”
Tags: Automakers, Contract, Detroit, Labor, Negotiations, Protracted, Strike, Teamsters, UAW, Union, UPS, Voted, Work stoppages, Workers
Washington Examiner (August 2)
“Yellow Freight, one of the oldest trucking companies in America…hit the end of the road Friday” when both union and nonunion workers were laid off. A bankruptcy filing appears imminent. “While the Teamsters-UPS agreement to avert a strike has lessened what could have been a disastrous economic event, Yellow’s potential insolvency marks one of the biggest collapses in jobs in the U.S. trucking industry” and could still lead to “economic uncertainty.”
Tags: Agreement, Avert, Bankruptcy, Collapses, Disastrous, Insolvency, Jobs, Laid-off, Nonunion, Strike, Teamsters, Trucking, U.S., Union, UPS, Workers, Yellow Freight
Markets Insider (April 7)
Investors are punishing transportation stocks “in the face of sky-high fuel prices and slowing growth.” Since hitting a November high, the Dow Jones Transportation Average has fallen 20%, “the technical definition of a bear market.” Often seen as “a bellwether for the health of the underlying economy, the index is comprised of “transportation stocks, from logistics companies such as FedEx and UPS, airlines, to railroad operators like Union Pacific.”
Tags: Airlines, Bear market, Bellwether, Dow Jones, Economy, FedEx, Fuel prices, Investors, Logistics, Punishing, Railroad, Sky-high, Slowing growth, Stocks, Transportation, UPS
