To: Jim who wrote (49867 ) 6/8/1999 6:16:00 PM From: Waldeen Read Replies (3) | Respond to of 90042
Jim, you might want to check out ABF i.e. Airborne Freight. Though I can't really recommend it. It's not the top player in the area, but they had good news very recently (June 3) whereby the U.S. Postal Service delivers packages the final hop to homes. Before they did not deliver to homes, and ecommerce was passing them buy. This should get them into that market. I almost played the news, and could have probably gotten a couple points. And today it moved some, but the momentum here seems uncertain to me and I don't see any news following this to push it higher. Low P/E, but doesn't make it safe. Worth watching, may make a good earnings play later on? Anyone have any opinions?marketwatch.newsalert.com US Postal Service to deliver to homes for Airborne Reuters Story - June 03, 1999 12:02 SEATTLE, June 3 (Reuters) - The parcel-delivery company Airborne Freight Corp. said Thursday it was joining with the U.S. Postal Service in a partnership that will allow it to deliver packages to U.S. homes up to twice as fast as its competitors. Under a test plan, in mid-July Airborne will begin transporting its customers' shipments within two days to one of the Postal Service's more than 24,000 local delivery units. The Postal Service will deliver the shipments the next day. The service, dubbed "AirborneHome," will cut delivery times by up to 60 percent compared with the services of competitors, Airborne said. "As e-commerce and other factors continue affecting market trends, businesses are facing increasing challenges to transport residential shipments in a reliable, economical way," Airborne President Bob Brazier said in statement. "This new service is specifically designed to address the growing demand of the business-to-residential marketplace," he added. John Kelly, a Postal Service executive in charge of Expedited/Package Services, said in a statement: "By combining their operation with the single largest residential delivery network in the country, Airborne will be able to offer delivery service to the residential market in a competitive way." Terms of the deal between Airborne and the Postal Service were not disclosed. Airborne did not reveal the AirborneHome pricing scheme but said it would offer "extremely competitive rates." Airborne Freight Corp., through its Airborne Express unit, provides door-to-door express delivery of small packages throughout the United States and to and from most foreign countries. It also acts as an international and domestic freight forwarder for shipments of any size. ______ Waldeen