ECONOMICS

By Mark Solomon of FreightWaves

In an effort to recapture volumes diverted to rivals ahead of a five-year contract with the Teamsters union, UPS will offer rebates to offset early-termination penalties should customers break their new contracts to return their traffic to the carrier.

UPS CEO Carol B. Tomé affirmed the policy at an analyst breakfast this week, according to those in attendance. According to Ken Hoexter, analyst at Bank of America, Tomé said the costs of the (more…)

Authored by Michael Snyder via The Economic Collapse blog,

During the summer, many of the experts repeatedly assured us that the U.S. economy would be able to avoid a recession, but now reality is setting in. 

Credit conditions continue to tighten, home sales are falling, credit card losses are exploding, stores are closing all over the country, and the number of bankruptcies is rising to very alarming levels.  Meanwhile, the cost of living continues to become more and more (more…)

By Catherine Yang of Epoch Times

China Evergrande Group announced on Sept. 28 that its chairman and founder has been suspected of committing crimes, confirming reports that Hui Ka Yan was under police surveillance.

It stated that "relevant authorities" notified the company that Mr. Hui, also known as Xu Jiayin, is subject to “mandatory measures in accordance with the law due to suspicion of illegal crimes.”

Xu Jiayin, chairman of the board of Evergrande Group, speaks (more…)