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:
“Write to the point: say immediately what you want to say most, even if it doesn’t “come first.” There are three reasons for doing this. First, you will then have said it, even if nothing else gets said. Second, your readers will then have read it, even if they read no more. Third, having said it, you are likely to have to say something more, because you will have to explain and justify what you chose to say.”
—Bill Stott (b. 1940)
“Man has lost the basic skill of the ape, the ability to scratch its back. Which gave it extraordinary independence, and the liberty to associate for reasons other than the need for mutual back-scratching.”
—Jean Baudrillard (b. 1929)