Reasons For Buyout
Prior to the buyout of Overnite, FedEx had recently purchased LTL companies American Freightways (on the east coast) and Viking Freight (on the west coast), creating FedEx Freight. UPS spokesman Norman Black told industry news outlet FleetOwner the LTL industry had become attractive due to the increasing economic and strategic attractiveness of the sector: “ attractive because of consolidations and watching the survivors grow and flourish as they’ve been improving operating ratios and developing new types of services customers respond to – especially in time-definite delivery options... That is what Overnite has been forefront of and that’s a huge trend in commerce now. Certainly we see it in the package world."
Read more about this topic: UPS Freight
Famous quotes containing the words reasons for and/or reasons:
“One of the many reasons for the bewildering and tragic character of human existence is the fact that social organization is at once necessary and fatal. Men are forever creating such organizations for their own convenience and forever finding themselves the victims of their home-made monsters.”
—Aldous Huxley (18941963)
“The needs of a human being are sacred. Their satisfaction cannot be subordinated either to reasons of state, or to any consideration of money, nationality, race, or color, or to the moral or other value attributed to the human being in question, or to any consideration whatsoever.”
—Simone Weil (19091943)