|Bid||99.04 x 800|
|Ask||99.00 x 1100|
|Day's Range||98.36 - 99.68|
|52 Week Range||82.00 - 125.31|
|Beta (5Y Monthly)||0.83|
|PE Ratio (TTM)||20.10|
|Earnings Date||Jul. 22, 2020 - Jul. 27, 2020|
|Forward Dividend & Yield||4.04 (4.05%)|
|Ex-Dividend Date||May 22, 2020|
|1y Target Est||103.09|
The UPS Foundation, which leads the global citizenship programs for UPS (UPS), and Gavi, the Vaccine Alliance, announced today a commitment of US$3 million in new funding and in-kind logistics support spanning two years, provided by UPS and The UPS Foundation to Gavi. The new support will enable Gavi to continue to strengthen supply chain networks that deliver life-saving vaccines to children in the world’s poorest countries, and expand coverage of essential childhood vaccines with the mission of eliminating childhood deaths from avoidable diseases.
UPS (UPS) today announced the company will commemorate World Environment Day on June 5 by matching the carbon offsets of all packages shipped via its carbon neutral program during the month of June. UPS carbon neutral counterbalances the estimated carbon impact of each shipment by purchasing certified carbon offsets. “There is truly no better way to honor World Environment Day than to facilitate actions that will help the planet,” said Suzanne Lindsay-Walker, UPS chief sustainability officer (CSO) and vice president of environmental affairs.
United Parcel Service (UPS) closed the most recent trading day at $99.72, moving +0.1% from the previous trading session.
ATLANTA, May 28, 2020 -- A New Technology-Enabled Service Within Its Own Network And BeyondUPS Premier improves service reliability with priority-handling and improved.
Cheap planes and a need for more capacity could be a perfect opportunity for Amazon to snatch up new jets for its delivery services.
(Bloomberg) -- Amazon.com Inc.’s talks to buy driverless vehicle startup Zoox Inc. has analysts speculating the deal could save the e-commerce giant tens of billions a year and put auto, parcel and ride-hailing companies on their heels.Shipping costs are one of Amazon’s largest expenses and may reach $90 billion in the coming years, Morgan Stanley’s internet, auto and transport analysts wrote in a report Wednesday. An autonomous offering could save the company more than $20 billion annually, they estimate.“Autonomous technology is a natural extension of Amazon’s efforts to build its own third party logistics network,” Morgan Stanley’s analysts wrote. They see the company being a “clear” competitor to the likes of Tesla Inc. and General Motors Co. and the potential for Amazon to compete in ride-sharing and food delivery. United Parcel Service Inc. and FedEx Corp. also “will have to respond to keep up.”Other companies in the automotive and chip industries have also held talks with Zoox about a potential investment, according to people familiar with the matter. At least one other business besides Amazon has offered to buy the company, they added. Zoox is unlikely to sell for less than the more than $1 billion that it has raised, according to the people, who asked not to be identified discussing private negotiations.“Zoox has been receiving interest in a strategic transaction from multiple parties and has been working with Qatalyst Partners to evaluate such interest,” the startup said Tuesday. It declined to comment on Amazon’s interest. A spokeswoman for Amazon declined to comment.Zoox had outsize ambition and financial backing. The startup wanted to build a fully driverless car by this year. However, after a 2018 funding round that valued Zoox at $3.2 billion, the startup’s board voted to oust Chief Executive Officer Tim Kentley-Klay. The executive criticized the move, saying the directors were “optimizing for a little money in hand at the expense of profound progress.”Dow Jones reported that Amazon is in advanced talks to buy Zoox for less than the $3.2 billion valuation from 2018.Amazon is willing to spend heavily to automate its e-commerce business. The online retail giant purchased warehouse robot-maker Kiva Systems Inc. in 2012 for $775 million and now has tens of thousands of robots in warehouses around the world.But paying drivers to deliver packages is still one of the biggest costs in the company’s operation. Chief Executive Officer Jeff Bezos announced plans for drone delivery in 2013, though they have yet to materialize at scale. Last year, Amazon revealed an experimental delivery robot called Scout in the Seattle area that rolls on sidewalks like a shopping cart.Last year, Amazon invested along with Silicon Valley venture firm Sequoia Capital in self-driving startup Aurora Innovation Inc., a startup led by the former heads of Google’s driverless car project and Tesla’s Autopilot team. Amazon also backed Rivian Automotive Inc., the electric pickup and SUV maker. Those bets left Morgan Stanley’s auto analyst questioning earlier this month whether Tesla’s rich valuation is warranted given the competitive threats the company faces.“We often hear from investors that Tesla could potentially be the Amazon of transportation,” Adam Jonas, who rates Tesla the equivalent of a hold, wrote in a May 17 report. “But what if Amazon is the Amazon of transportation?”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Ware2Go, a UPS (NYSE:UPS) company that helps merchants simplify fast delivery to customers, announced new research results from its recent survey of American consumer habits during the coronavirus pandemic. Some 87% of Americans are taking up new activities due to shelter-in-place directives being implemented to slow the spread of COVID-19.
(Bloomberg) -- Amazon.com Inc.’s Prime Air fleet will grow to about 200 planes -- up from 42 now -- in the next seven or eight years, creating an air cargo service that could rival United Parcel Service Inc., according to a study.“At a time when many other airlines are downsizing due to the pandemic, Amazon’s push for faster and cheaper at-home delivery is moving ahead on an ambitious timetable,” said the report issued Friday by DePaul University’s Chaddick Institute of Metropolitan Development. “Amazon Air’s robust expansion makes it one of the biggest stories in the air cargo industry in years.”Amazon unveiled the air cargo service in 2016, prompting speculation that it would ultimately create an overnight delivery network to rival delivery partners UPS and FedEx Corp.Prime Air operates out of smaller regional airports close to its warehouses around the country, helping Amazon quickly move inventory to accommodate one- and two-day delivery. For that reason, some analysts have dismissed Amazon as a potential competitor to UPS and FedEx since it can only offer limited service to a small number of destinations and seems designed to handle Amazon packages.Key to its ability to take on the entrenched players, the report says, is Amazon’s new $1.5 billion facility near Cincinnati that will accommodate up to 100 planes and as many as 200 flights each day. Amazon’s lack of a central hub has kept it from competing in the overnight delivery services offered by UPS and FedEx, which have more planes flying to more destinations.“The massive investment being made in a large hub at Cincinnati/Northern Kentucky International Airport, however, could change everything,” the report says. “This hub appears to be the linchpin to Amazon’s efforts to develop a comprehensive array of domestic delivery services.”A separate report released Monday noted Amazon’s lack of a central hub in concluding it was not a competitive threat to FedEx, which has a hub in Memphis, or UPS, which has one in Louisville. FedEx’s network can offer 9,000 daily flight connections, UPS’ 5,500 and Amazon Air just 363, according to the report from Bernstein.“The viability of a commercial overnight offering from Amazon remains very limited,” Bernstein analyst David Vernon wrote. “Offering a low cost on shipping to a small number of markets every so often will never be a serious competitive threat.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
UPS (UPS), a global leader in logistics, in partnership with McLane Global, a leading food and logistics company, today announced the delivery of the five millionth meal through the Emergency Meals-to-You program, designed to deliver shelf-stable, nutritious meals to students in rural areas of the country. The program is a partnership between McLane Global, UPS, USDA, the Baylor Collaborative on Hunger and Poverty, and PepsiCo to deliver meals to students in rural areas who would otherwise go hungry due to the impact of the novel coronavirus. The logistics solution was developed with support from The UPS Foundation, which leads UPS’s global citizenship programs.
Due to flight restrictions on the pharmaceutical company’s supply chain because of the Coronavirus pandemic, Dr. Reddy’s teamed up with UPS Healthcare to get 30 tons of temperature-controlled medical cargo from India to the U.S. ATLANTA, May 18, 2020 (GLOBE NEWSWIRE) -- UPS (UPS) today announced a collaboration with Dr. Reddy’s Laboratories to get 30 tons of pharmaceuticals from India to the United States via Europe. Given the supply chain challenges and restrictions due to the Coronavirus pandemic, UPS Healthcare and Dr. Reddy’s created an emergency supply chain plan to replenish pharmaceutical stocks in U.S. markets.
ATLANTA, May 14, 2020 -- The UPS (NYSE: UPS) Board of Directors today declared a regular quarterly dividend of $1.01 per share on all outstanding Class A and Class B shares..
UPS (UPS) today announced the expansion of its express air network to Gary/Chicago International Airport. Gary will be served by a UPS Airlines Airbus A300. With a maximum payload of more than 120,000 lbs., the wide body cargo jet can carry more than 14,000 UPS Next Day Air® packages.
Online shoppers are buying from more sellers and in more product categories amid shelter in place orders and social distancing practices, according to a survey by Ware2Go, a UPS (NYSE:UPS) company that helps merchants simplify fast delivery to customers. More than half (55%) say they’re purchasing from online retailers they’ve never shopped with before and buying a broader range of products: 61% buying groceries, 45% purchasing clothing, and 34% buying vitamins and supplements online.
(Bloomberg Opinion) -- Amid the worst jobs report in the history of jobs reports, a few industries actually added jobs from mid-March to mid-April.“General merchandise stores including warehouse clubs and supercenters” is the North American Industry Classification System category for Walmarts, Targets, Dollar Trees, Sam’s Clubs, Costcos and such. It seems likely that supermarkets also saw job gains, but for them and most other industry subcategories employment is reported with a one month lag, so we won’t know until the next jobs report. Food and beverage stores, the supersector that includes supermarkets, saw a 42,000-job seasonally adjusted decline in employment in April.Among the other job-gaining sectors, “other information services” may require some explanation. About 80% of its jobs are at “Internet publishing and broadcasting and web search portals,” which covers the likes of Google, Facebook and Twitter. The remainder are at other digital information providers such as, well, the publisher of Bloomberg Opinion. “Couriers and messengers” is FedEx, United Parcel Service and their ilk.One thing that stands out here is that the job gains are really, really tiny compared with the 20.5 million jobs lost. We may well see a more significant shift of employment into pandemic-resistant or pandemic-fighting sectors in the coming months, but that takes a while. And given that the shifts in demand that have had everybody lining up at Costco for toilet paper are not (one hopes) permanent, such companies are unlikely to go overboard with hiring.Another thing that stands out is that a lot of sectors that would seem to be quite essential in a pandemic nonetheless shed jobs. I’ve listed a selection here, ranked by percentage job losses rather than the absolute numbers because that seemed more informative.Other health-care sectors were even harder hit as almost all non-coronavirus-related care was put on hold for the month, with employment down 15.2% at ambulatory health-care services and 52.5% at dentists’ offices. Then again, a lot of those jobs ought to return quickly as well, although things are definitely going to be tough for dentists and dental hygienists, whose work probably entails more intense coronavirus risk than any other.The bigger message here may just be that a U.S. economy that is pared down to “essentials” isn’t much of an economy. Here’s hoping we all start doing a lot more nonessential (but also non-virus-spreading) things soon.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Justin Fox is a Bloomberg Opinion columnist covering business. He was the editorial director of Harvard Business Review and wrote for Time, Fortune and American Banker. He is the author of “The Myth of the Rational Market.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- The only person who didn’t speak at a White House briefing on a massive federal effort to aid mom-and-pop firms crushed by the coronavirus pandemic was the woman actually running the initiative, Jovita Carranza.President Donald Trump, his daughter Ivanka and Treasury Secretary Steven Mnuchin all lauded the program despite its rocky start at the beginning of April. Carranza, who was charged with processing hundreds of billions of dollars in loans only months into her new job as the head of the Small Business Administration, smiled approvingly, but was never asked to speak.Carranza’s sideline role at the April 28 event was emblematic of the challenges facing her agency, which has long been treated as a backwater in Washington. Despite its checkered track record in disaster response, the SBA is now responsible for a $669 billion program to rescue the 30 million small firms that make up nearly half the U.S. economy.The SBA has approved more than half a trillion dollars in loans in a matter of weeks and has about $125 billion left before a second round of funding runs out. Advocates fear that the money will be exhausted again before all small firms that need it get help. At the same time, Trump is pushing to reopen the economy with polls showing Americans are wary about returning to business as usual.For years, Congress hasn’t set up the SBA to adequately respond to crises. And lawmakers have never before asked it to handle an effort as massive as the Paycheck Protection Program, meant to help devastated small businesses survive the pandemic.Working with the Treasury, Congress decided that to get money out fast, it had to put the SBA in charge because the agency already had an established loan program with a network of pre-approved banks. That left Carranza, who was a deputy administrator under President George W. Bush, to make the best of a situation everyone worried would be fraught with problems.‘Massive, Massive Program’“They gave the SBA, an agency that has repeatedly botched previous disaster responses, the responsibility to handle this massive, massive program,” said Veronique de Rugy, a senior research fellow at George Mason University’s Mercatus Center who has studied the agency’s history.An agency spokesman called the SBA’s performance an “historic achievement.” A Treasury spokeswoman agreed that the SBA is performing well under Carranza and said that she works closely with Mnuchin. White House spokespeople didn’t respond to a question about why she wasn’t invited to address the April 28 White House event.Carranza declined to be interviewed for this article.“She’s been faced with about the most challenging circumstance a head of the SBA has ever had to operate under,” said Representative Steve Chabot of Ohio, the top Republican on the House Small Business Committee. “I mean, the very survival of the American economy rests on your shoulders.”The SBA, which was elevated to a cabinet-level agency by President Barack Obama, supports the nation’s small businesses through loan programs and training for entrepreneurs. In times of crisis, including after Hurricanes Katrina, Irma and Harvey, the agency bolstered its funding programs to supply mom and pop firms and homeowners with emergency capital.The rocky launch of the PPP program featured some of the same problems the SBA hadn’t fixed after past disasters, in addition to new ones. Technology meltdowns and the way the program was structured led to delays in getting the money to those who needed it the most.In the first round of funding, many small companies were left stranded while hundreds of publicly traded companies got more than $1 billion. Major banks favored large corporate clients, whose bigger loan amounts gave lenders fatter fees. Congress was forced to replenish the fund just two weeks after it began.The SBA has been especially handicapped under Trump, according to John Arensmeyer, who heads the Small Business Majority, an advocacy group that has a network of more than 58,000 small business owners, most of whom have less than 100 employees.When Carranza took up her post in January, the agency had had a leadership vacuum and was being run by its general counsel. Its former head, Linda McMahon, a Trump donor and co-founder of World Wrestling Entertainment, Inc., left in April 2019 to chair Trump’s 2020 Super-PAC America First Action. Carranza was picked for the post last July after serving as U.S. treasurer since June 2017. In that role, she advised Mnuchin and oversaw the printing of money. Her signature appeared on bills.The White House still hasn’t nominated a new No. 2 -- the deputy administrator who normally handles the day-to-day affairs -- after the last one left in 2018. In February, Trump proposed cutting the agency’s 2021 budget by 25%.The Government Accountability Office, Congress’s watchdog agency, has repeatedly warned that the SBA’s technology needs to be revamped. Its budget is about $1 billion and its staff of more than 6,000, compared with the Commerce Department, which has 52,000 employees and a budget of $15.2 billion. Although Congress eventually added $2.8 billion for SBA salaries and other expenses in its pandemic relief measures, some said it was too little, too late, given the magnitude of the task.“The SBA is going to need to be better-funded and more of a priority agency simply because of the disaster that’s befallen small businesses across the country,” said Arensmeyer. “I would hope that the administration and Congress recognize that.”Despite the difficulties, Carranza has earned the respect of key lawmakers and small-business groups, who said she’s been accessible, willing to listen and a problem-solver.She is no stranger to challenges. A native of Chicago and the daughter of first-generation Mexican-Americans, she worked two jobs and raised a child as a single mother, according to her testimony during her December Senate confirmation hearing.She spent 30 years at United Parcel Service Inc., where she started as a part-time, hourly employee on the warehouse docks, loading packages onto trucks. She climbed the ladder to eventually lead the company’s operations in Latin America and the Caribbean, managing thousands of employees. She retired as the highest-ranking Latina in the company’s history.Carranza ran the SBA’s day-to-day operations under Bush from 2006 to 2009. As deputy administrator, she oversaw 80 national field offices and a portfolio of loans worth tens of billions of dollars. She developed the SBA’s disaster recovery plan after the agency faced a torrent of criticism over how slowly it administered loans after Hurricane Katrina.Her former SBA colleagues describe her as a hands-on manager who can speak authoritatively on minute details. Eric Thorson, who was the SBA’s inspector general at the time, said agency heads often had antagonistic relationships with their inspectors general. That wasn’t the case with Carranza, who was eager to address issues his office highlighted, he said.Carranza began her second stint at SBA with ambitious goals to reform the agency, including doing more to support women and minority-owned businesses and making the agency’s emergency loan systems more efficient.Then catastrophe struck. By mid-March, the pandemic had prompted businesses to close their doors as stay-at-home orders stretched across the country. Hotels, airlines, media, restaurants and manufacturers shed jobs by the millions as revenue dried up.Carranza and Mnuchin met with lawmakers including Senators Marco Rubio, a Florida Republican, and Ben Cardin, a Maryland Democrat, to hammer out a small business aid package as part of the administration’s multi-trillion-dollar relief initiative. Democrats on the small business panel wanted to set up a grant program, which Republicans opposed because they thought it would take too long and instead pushed for a loan program, according to a person familiar with the matter.Lawmakers worried that the SBA wouldn’t be able to handle the job. Mnuchin dispatched Deputy Secretary Justin Muzinich, his No. 2 at the Treasury, to the SBA to smooth out the program’s rollout, according to a person familiar with the matter.Representative Nydia Velazquez, a New York Democrat and chairwoman of the House Small Business Committee, said she called Carranza after the program was approved and told her: “You got to be prepared.” Carranza replied that she had her team working overtime to be ready because she knew how important it was to the economy, Velazquez said.‘She Is Committed’“She has been there, what, three months?” said Velazquez. “I know she is committed. I know they are working hard.”The SBA has moved much more quickly amid the coronavirus pandemic than in past crises, despite a flood of applications and technology glitches. It made changes to ensure the money gets to those who need it the most, including creating a window when only the smallest lenders could apply. Lawmakers, the White House and even Carranza herself have boasted about how rapidly the agency was able to distribute the loans.The SBA’s pandemic response could face more attacks as it distributes an additional $320 billion. It missed an April 26 deadline for providing guidance on how loans will be forgiven -- meaning that small business owners who struggled to get funding still don’t know how much they may have to repay.Cardin said the pandemic has underscored the need to fix the country’s response to disasters. “There’s two parts to this,” Cardin said. “One is to triage this current situation to make sure underserved communities get loans” and the other is to build capacity for the future, he said. “Whether they’re economic downturns or natural disasters or other pandemics,” Cardin added, “there will be other problems.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
In a move unlikely to surprise anyone, UPS followed FedEx (NYSE: FDX) in withdrawing its full-year guidance due to the impact of the COVID-19 pandemic. The contrast is most striking in the U.S. domestic package segment, where a high-single-digit revenue increase matched with a 42.2% fall in operating profit.
ATLANTA, May 04, 2020 -- Solutions and expertise deployed include UPS Temperature True® shipping services, air freight services and warehouse optimization. Edwards’ monitoring.
Last week, you might have seen that United Parcel Service, Inc. (NYSE:UPS) released its first-quarter result to the...
The Michaels Companies, Inc., (MIK) the largest arts and crafts retail chain in North America, and UPS (UPS) today announce curbside service at UPS Access Point® locations located within more than 800 Michaels stores nationwide. Without ever entering the store, this new service provides consumers a safe, convenient option to ship UPS® packages directly to a Michaels store, as well as drop off pre-labeled shipments and make returns to any e-commerce retailer that accepts UPS returns shipments. Upon arrival at the location, a Michaels Team Member will safely and securely interact with the customer to facilitate a contactless process – start to finish.
(Bloomberg Opinion) -- Tuesday was a jam-packed day for earnings across all sectors. In the industrial landscape, I paid closest attention to 3M Co., Caterpillar Inc. and United Parcel Service Inc., each a bellwether in its own right. You can find the specifics on earnings numbers in the companies’ news releases here, here and here, but in this time of unprecedented volatility, what CEOs are saying about how they are running their businesses is more telling. Here are my top takeaways:3M: Like many companies, 3M has suspended its 2020 guidance given the unpredictable nature of the coronavirus outbreak and rolling economic shutdowns, but in an effort to provide more transparency, the maker of Post-it notes is now going to provide monthly sales updates — broken down by geography and business segment — for the foreseeable future. This follows Emerson Electric Co.’s marathon two-hour-plus earnings call last week that featured presentations by not only the CEO and CFO but also the heads of its main business divisions. It’s nice to see companies setting the bar high on disclosures during this period of upheaval; hopefully others follow suit. The second quarter is expected to bring the worst of the virus impact, and 3M is cutting $350 million to $400 million of costs in the period to adjust to lower demand. Notably, however, much of that involves discretionary spending on things like travel, external services and advertising, rather than cuts to payroll, which 3M says it’s trying to minimize. It’s using furloughs, but they’re paid leaves, and in other cases, employees are being asked to take vacation. Bear in mind that 3M had announced a restructuring plan in January, separate from the coronavirus, that would see it eliminate some 1,500 jobs, so it’s hardly a corporate saint. But given its sales of N95 respirators, you’d be hard-pressed to find a company that better understands the toll the virus is taking, and 3M seems to legitimately want to to do the right thing by its workforce. Like others in the industrial sector, the company also appears wary of cutting too deep and being unprepared for an eventual recovery. 3M is clearly conscious of its image after having its name dragged through the mud by President Donald Trump and billionaire Mark Cuban over production and sales of N95 respirators. The company devoted an entire slide in its earnings presentation to the topic. 3M has already doubled global N95 output to 100 million per month and is investing in capacity to double that yet again; it’s directed 90% of production to health-care workers, with the remainder going to other critical industries such as food production; and the company has cut loose some distributors who acted “unethically” and is pursuing numerous lawsuits amid allegations of price gouging. The company also made a point of highlighting its 76 plants and distribution centers across the U.S. in an apparent nod toward calls for a revival of America’s manufacturing might. “3M has never left our home country,” CEO Michael Roman said on the call. CATERPILLAR : The maker of bulldozers and backhoes is also holding off on sweeping job cuts, and it made an interesting argument as to why that’s the case. Caterpillar held headcount as well as administrative, manufacturing and research spending relatively flat from 2016 to 2019, even as sales increased some 40%. That means there’s less to cut when a downturn hits, CEO Jim Umpleby said on a call to discuss the company’s first-quarter results. It also means Caterpillar doesn’t have to use up cash to pay out large amounts of severance, and “cash is obviously king in this environment,” Umpleby said. So the overall effect is that margins and cash flow will be higher than historically, even though the chaotic nature of the coronavirus outbreak and supply-chain disruptions will likely prevent the company from reaching its targets on those metrics. While Caterpillar has suspended share buybacks and is delaying some R&D and capital expenditure projects with less visible returns, it made the decision to continue investing in growing its services business and expanding its product offerings because it continues to view those initiatives as key to its longer-term profitability. That’s a positive sign that the coronavirus hasn’t completely zapped CEOs’ appetite for investment.UPS: The good news for the package-delivery company is that its services have never been more important as store shutdowns and fear of contagion drive more consumers to online ordering. The bad news is that the spike in sales is coming at the expense of its profit margin. Why? It’s partly due to the sporadic nature of residential deliveries, which makes the process more expensive than shipping to businesses, and also because of the increased expenses involved in keeping workers safe. The knock-on costs of the coronavirus — including the expense of doing extra cleaning and providing workers with protective gear — amounted to $140 million in the first quarter. That’s an important data point to keep in mind as companies across less essential industries start bringing people back to work. Like Caterpillar, UPS will maintain investments in strategic priorities such as automation to help bolster its longer-term profitability. An expected $1 billion reduction in capital expenditures is going to come largely from a rethink of certain facilities projects and a delay in vehicle purchases. The company is also working with its customers when it comes to investing in their supply chains as the coronavirus exposes the flaws in far-flung networks. In many cases, that's going to mean a shift to third-party order fulfillment and logistics services. This is just an acceleration of a reappraisal that began with the U.S.-China trade war, UPS CEO David Abney said on the earnings call. A lot remains unknown about the coronavirus pandemic, but the messaging from most industrial CEOs at this point has focused on staying the course, whether that means maintaining most of the workforce or following through on investment commitments. UPS's Abney may have put it best: “I don't know that we'll ever get back to what we call the old normal, but we're not ready to declare what we see today as a new normal, either.”This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.