NEWSPAGE

     The Central States Pension Fund has suffered an additional  loss of $2.6 billion in assets during the third quarter of 2008, according to fund documents obtained by TDU.

    According to a report from TDU, the Central States Pension Fund lost $3.1 billion in assets during the first six months of this year—half the $6.1 billion UPS paid to leave the fund in December.  This information comes as a result of TDU members winning an order in federal court that requires the Central States Fund to provide financial reports.

    UPS reported diluted earnings per share of $0.96 for its third quarter on a 7.4% increase in revenue. This represents an 8.6% decline from the $1.05 per share reported on an adjusted basis for the comparable 2007 quarter.  Average daily U.S. domestic volume declined 3.4%, reflecting on-going weakness in the U.S. economy, with air products posting declines of 6.4% and ground volume decreasing 2.8%.  Market Watch has the relevant facts and figures.
     A lowered profit outlook and troubled economy did not stop the company from spending more than $1.4 million in the third quarter to lobby on issues including labor law reform, international mail rates and aviation competition matters, according to a recent disclosure form.  The Associated Press has more.

     Teamsters for a Democratic Union has issued its annual review of Teamster officials' salaries and compensation.  In this year's $150,000 Club report, TDU notes that Teamster members are hurting from rising prices and contracts that aren’t keeping pace but top Teamster officials are making more than ever.

     In a letter to the company, the FDA said Sysco Food Services of Albany LLC's refrigerated, ready-to-eat seafood salads and tuna salads "are adulterated in that they have been prepared, packed, or held under insanitary conditions whereby they may have been rendered injurious to health."   More from Market Watch...

     A federal jury has awarded a former UPS package car driver $2.63 million in damages, including $2 million in punitive damages, after shown evidence of the company having retaliated against him by, according to one of his lawyers, "...repeatedly and admittedly sabotaging his efforts to return to work after he filed a workers’ compensation claim”.  The Kansas City Star has more on this case.

     Cox News Service reports that DHL and UPS officials are disputing claims by Ohio lawmakers that a pending deal between the two package delivery services amounted to a "de facto merger" that would devastate southwestern Ohio's economy and drive up prices for customers. Meanwhile the deal is being panned by a pilots union, Ohio politicians , and Barack Obama.

      Not everyone is happy about the proposed UPS-DHL agreement which is still being negotiated.   The union representing pilots at ASTAR Air Cargo has filed suit against DHL over  the express carrier's plans to turn its U.S. air transport business over to UPS.  Air Cargo World has the story.
      The Dayton Daily News reports that Ohio Lt. Gov. Lee Fisher and a team of statewide political leaders said they're keeping the pressure on in trying to stop DHL from turning over its domestic air cargo operation in Wilmington to UPS. 
     A former UPS employee is burning up the blogs, according to the Atlanta Journal-Constitution, after participating in a picket line of DHL pilots at the company's corporate headquarters, then quitting his job last week.
     The video below shows the ASTAR/DHL pilots  picketing  in Atlanta along with other protest information.

    DHL, the struggling U.S.-based express shipping unit of German postal service Deutsche Post, is working on a deal with UPS to carry some of its air packages.  The agreement is expected to last up to 10 years and covers express, deferred and international packages, but not freight. UPS also will transport DHL air packages between the United States, Canada and Mexico.  The Associated Press provides details.

      Officials of the Platinum Shield Association (PSA), representing  UPS Store and Mail Boxes Etc. franchisees who are engaged in a legal battle with UPS, have announced that their long-sought "day in court" with the company will take place February 17, 2009.  PR Newswire has the details.

     A California appeals court has reversed a decision blocking Mail Boxes Etc. franchisees from proceeding with a class-action lawsuit against UPS.  The  Associated Press has this update.

    UPS is the target of a proposed class-action lawsuit filed in U.S. District Court in San Francisco by a UPS Store owner that accuses the company of wrongly profiting off of UPS Store and Mail Boxes Etc. franchisees by billing them for differences in shipping rates.  Business First has more.

     An article from the Dallas Morning News details the problems UPS store "mom and pop" franchise owners all over the country are having in that the stores can't compete with UPS's web site, causing many of them to go out of business and giving rise to a lawsuit from 220 current and former franchisees.

      The House has passed a bill that bans the Mexican Truck pilot program by Sept. 6. It also prohibits the transportation secretary from granting authority to any Mexican trucks beyond the commercial zone, unless specifically authorized by Congress. The bill passed unanimously by a voice vote.  PR Newswire has the story.
      However, acting on the first day of Congress' summer recess, the Bush administration has announced that it is extending the pilot program, infuriating Democrats.  This from the Washington Times.
     These and other stories concerning the Bush administration's relationship with labor can be found on the Bush Watch page.

   VIEW OLDER NEWS STORIES IN THE ARCHIVE.