My prediction for how the integrator industry will shake out within the next 2 to 15 years, i.e. at some point after Open Skies goes through and Fred Smith steps down:

1. DHL http://www.dpwn.de/dpwn?tab=1&skin=h...mlFile=2006675 will acquire FedEx to gain instant market share in the US.
2. UPS will have to counter by acquiring TNT http://www.tnt.com/.

or:

1. UPS will acquire TNT http://www.tnt.com/.
2. DHL will have to counter by acquiring FedEx.

Long term there is not room for 3 integrators and the Coke and Pepsi of express volume will end up being DHL and UPS. Schenker http://www.schenker.com/english/company/index.html will eventually also be absorbed by either DHL or UPS.