Press Releases I wonder about $ for UPS as well. Yes they are sending out new releases on new contracts but read the wording. The bank contract said it was "event driven" and UPS estimates that it will be approximately 500K a year. The Hamilton Port contract again has a UPS estimate of what they will make a year. You can have all the top line you want but if bottom line doesn't come in, it means nothing. I felt UPS had a big number for A/P last release and it had grown from the previous quarter. Want your cash position to look better, hold back on A/P. Have $ cash problems, play roulette with which vendor you pay this month.
I own shares in UPS and would love for something to happen to them that would at least get my money back or make a little coin. My company had a 6 figure contract with UPS and they were paid on time. We had performance issues with the guards to the point that we had to consider a change in companies. We tried to work something out with UPS to improve standards and asked them to show some sort of good will towards us for poor and embarassing performance. The UPS answer for my company was to buy more services from them and they took no responsibility for their substandard performance. Their attempt to save this contract was feeble from the manager to VP to CEO level. They can sign and glorify all the contracts they want but if they can't deliver the service it means nothing and only a matter of time before they are kicked out. One other thing, the company that took over the contract from UPS, took some of their guards and said UPS was not paying these employees properly for statutory holidays......things that make you go hmmmmm.