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TRUCKING INDUSTRY NEWS * USA
* Tennessee - FedEx Profit More Than Doubles. Record holiday shipping strengthens fiscal third quarter results
(Photo: Kinkos FedEx Corp.'s Corporate Offices)
Memphis,TENN,USA -The Journal of Commerce Online. by Joseph Bonney -Mar 22, 2012: -- FedEx Corp.’s profit more than doubled during its fiscal third quarter, fueled by record holiday package shipping, higher profit for the company’s ground shipping unit and reduced losses at FedEx Freight... FedEx posted net income of $521 million, up 126 percent from a year earlier, as revenue rose 9 percent to $10.56 billion... The company’s express unit had operating income of $349 million, up 96 percent, as revenue rose 8 percent to $6.54 billion... FedEx Ground operating income rose 43 percent to $465 million on a 14 percent rise in revenue to $2.48 billion... The company’s FedEx Freight segment narrowed its operating loss to $1 million from $110 million a year ago as revenue rose 10 percent to $1.23 billion... Less-than-truckload yield rose 6 percent because of higher fuel charges and improved base yields. LTL average daily shipments rose 2 percent, aided by favorable weather...
* DC - FedEx to Pay $3 Million to Settle Bias Claims
Washington,DC,USA -The Journal of Commerce Online, by William B. Cassidy -Mar 23, 2012: -- Agreement with federal contracting watchdog covers 21,000 job seekers... FedEx will pay $3 million to more than 21,000 rejected job applicants to settle allegations of hiring discrimination, the Labor Department said Thursday... The settlement caps a review of FedEx hiring practices by the Office of Federal Contract Compliance Programs. It is the largest OFCCP settlement since 2004... In its review, the OFCCP said it found evidence of discriminatory hiring practices at 22 FedEx Ground and one FedEx SmartPost site from 2004 through 2011... Those facilities, from California to New York, discriminated against a wide variety of applicants based on gender, race and national origin, according to the OFCCP... FedEx Ground, based in Pittsburgh, has more than 75,000 “team members,” including driver contractors, and handles more than 3.5 million packages a day...
* Florida - DHL to Spend $47 Million to Expand US Hub
(Photo: DHL Corporate Office Headquarters HQ in USA)
Plantation,FL,USA - The Journal of Commerce Online, by Mark Szakonyi -Mar 14, 2012: -- Expansion to provide an extra 193,000-square-feet of capacity at airport... DHL said the $47 million expansion of its U.S. hub at the Cincinnati/Northern Kentucky airport will provide parcel customers with an extra 193,000-square-feet of capacity... The package giant said the new warehouse capacity will be online by November, while improvements to existing buildings and the purchase of material handling equipment won’t be completed until March 2013. With the newest phase of expansion, which will add about 280 jobs, DHL will have spent $105 million on the hub since 2009... Labels: trucking industry news USA
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