Economic slump hits major cargo carriers

12/16/2008 | TheStreet.com · USA Today

Overnight delivery services like UPS and FedEx have become proxies for the U.S. economy. UPS alone counts 6% of the U.S. GDP in its system at any given moment, according to TheStreet.com's Ted Reed, who recently rode along with a veteran driver to get a feel for the economy in Charlotte, N.C. Like many of its customers, UPS has been stung by the recession, reporting a 10% decline in net income for the third quarter. FedEx, meanwhile, slashed its 2009 earnings outlook based on "significantly weaker macroeconomic conditions." And DHL, once seen as a serious competitor, has largely pulled out of the U.S. market, leaving some 9,500 employees without jobs.

View Full Article in:

TheStreet.com · USA Today

Published in Brief:

SmartBrief Job Listings for Transportation

Job Title Company Location
ACCOUNT EXECUTIVE
READYJET, INC
Nationwide, SL_Nationwide
Line Maintenance Router
Alaska Airlines
Seattle, WA
Aircraft Overhaul Supervisor
American Airlines
Tulsa, OK
Manager of Materials
Cape Air/Nantucket Airlines
Hyannis, MA
Station Manager
Cape Air/Nantucket Airlines
Boston, MA