UPS Announces Higher Shipping Rates for Next Year

Cybergal · Oct 17, 2008

UPS Announces Higher Shipping Rates for Next Year

10/17/08

United Parcel Service Inc. (UPS: 50.54, -1.10, -2.13%), the world's largest package delivery service, said Friday it will charge more to ship parcels next year.
Ground shipment rates will increase by about 5.9%, and air shipments by about 4.9%, the company said. The new rates will take effect on Jan. 5.
UPS also said it will report its third-quarter financial results next Thursday. UPS Chairman and Chief Executive Officer Scott Davis and Chief Financial Officer Kurt Kuehn are scheduled to conduct an investor conference call.
UPS is viewed as a bellwether for the broader U.S. economy since companies and households tend to send more packages when times are flush and less packages when money gets tight.
The rate increases come despite a significant drop in the price crude oil, an important factor for any transportation company. A barrel of crude oil cost around $72 on Friday, down from $148 this summer.

Shares of UPS fell 2.1% to $50.54 on Friday.

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http://www.foxbusiness.com/story/ma...sportation/ups-hikes-shipping-rates--average/

1989 Pete · Oct 17, 2008

Cool I hope this brings along CHANGE

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