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Technology Stocks : United Parcel Service Inc-(UPS) -- Ignore unavailable to you. Want to Upgrade?

To: JIM W who wrote (317)	2/10/2000 9:06:00 PM
From: Syl98	Read Replies (1) \| Respond to of 368

From the Financial Post: UPS forms subsidiary to look for Internet business opportunities ATLANTA (AP) -- United Parcel Service Inc. is creating a subsidiary, UPS e-Ventures, to seek out new Internet-related business opportunities. UPS e-Ventures will identify and bring to market companies that will serve the needs of businesses that operate on the Internet, UPS said Monday. Some will be UPS subsidiaries, but others may be spun off as independent companies. The first company to be developed by UPS e-Ventures will be UPS e-Logistics, which will offer a package of services -- from warehousing to order fulfillment to customer service -- for small- and medium-size companies that sell their products on the Web. UPS already offers such services to its larger customers through UPS Worldwide Logistics. "UPS recognizes the power the Internet has to impact business-to-business and business-to-consumer commerce," said Mark Rhoney, a 25-year UPS veteran who will be president of UPS e-Ventures. Rhoney most recently served as vice president of electronic commerce marketing for the Atlanta-based UPS. Monday's announcement puts UPS in competition with other shippers like Federal Express, which also runs warehouses and fills orders for businesses that don't want to handle such tasks on their own. Shares of UPS (UPS-N) were down 56 1/4 cents to $55.81 1/4 in afternoon trading on the New York Stock Exchange