Deutsche Post's extraordinary meeting this weekend
Hmm, wonder what this is about?
I am going out on a limb to predict the UPS/DHL deal will likely be bigger including UPS moving all the packages on the ground also.
UPS seems to have DPWN's nuts in a vice. Maybe I am just being optimistic.
D.Post supervisory board in weekend meeting-sources
Fri Oct 24, 2008 12:26pm EDT
FRANKFURT, Oct. 24 (Reuters) - Deutsche Post's (DPWGn.DE: Quote, Profile, Research, Stock Buzz) supervisory board will meet for an extraordinary meeting this weekend, sources familar with the situation said on Friday.
A spokeswoman for Deutsche Post declined to comment.
Deutsche Post's shares slid today after United Parcel Service (UPS.N: Quote, Profile, Research, Stock Buzz) Chief Executive Scott Davis said on Thursday that the company may change the size and scope of a planned cooperation with Deutsche Post on air freight in the United States.
Deutsche Post has been struggling to turn around its business there, and analysts said measures taken may not be enough. A slump in European markets and shrinking consumer and business demand in the United States may hurt the companies earnings more this year than previously thought, they said.