Opinion: The shopping cart parable

Andrew M. Santos

In my view, the most fundamental measure of a society is how we treat each other…

Everyone who lives in Juneau is familiar with the Taku Winds, but especially residents of Douglas and the downtown area. They are fierce.

Early on a January morning a couple years ago, I went to Foodland. It was still dark and the Taku Winds were blowing. I needed pellets for my pellet stove. I had made my purchase and was in the parking lot loading the bags of pellets into my car when I heard a noise. It was the noise of a shopping cart being blown across the parking lot. I didn’t see it, but I could tell from the noise that it was picking up speed. Then, it crashed hard into a nearby car. I walked over to view the damage. It had crashed into a fairly new pickup truck and there

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Amazon (AMZN) earnings Q4 2020

Andrew M. Santos

Amazon announced in its earnings report for the fourth quarter of 2020 that Amazon Web Services CEO Andy Jassy will replace Jeff Bezos as Amazon CEO during the third quarter of this year. Bezos will become executive chairman.

The company also delivered its largest quarter by revenue of all time at $125.56 billion, pushing it past the symbolic $100 billion mark for the first time.

Shares of Amazon were up 1% in extended trading.

Here are the results:

  • Earnings: $14.09 vs $7.23 per share forecast by Refinitiv
  • Revenue: $125.56 billion vs $119.7 billion forecast by Refinitiv

Bezos announced his decision to step down in the earnings release and in a memo to employees, noting that he will focus on “new products and early initiatives” in his new role, including the Day One Fund, Bezos Earth Fund, The Washington Post and his private space company Blue Origin.

“If you do it

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UPS reports a 21 percent jump in revenue as online shopping surges.

Andrew M. Santos

United Parcel Service reported a 21 percent increase in sales, to nearly $24.9 billion, in the final three months of last year, driven in part by a supercharged online holiday shopping season.

“Our financial performance in the fourth quarter exceeded our expectations, and I thank all UPS-ers for their extraordinary efforts to deliver industry-leading service through the holidays,” Carol Tomé, the company’s chief executive, said in a statement.

Ms. Tomé, who took the helm at the company just after the pandemic began, has been putting in place a “better, not bigger” strategy, aimed at improving profit over package volume. Excluding pension costs and a tax charge related to the sale of UPS Freight, the company’s profit per share rose to $2.66 in the fourth quarter from $1.94 a year earlier, far surpassing analyst estimates. The company’s share price was up more than 3.5 percent in premarket trading, but dipped after

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Online Shopping Surge Delivers Record Revenue for UPS | Business News

Andrew M. Santos

By JOSEPH PISANI and MICHELLE CHAPMAN, AP Business Writers

NEW YORK (AP) — A surge in online shopping helped UPS post record revenue during the last three months of 2020, the company said Tuesday.

Its stock rose more than 3% in afternoon trading.

Demand for UPS and other delivery companies has spiked as more people shop online during the pandemic and avoid going into stores. Not only was the Atlanta company working to deliver gifts during the holiday season, but it also started shipping COVID-19 vaccines at the same time. To keep up, it hired thousands of more workers and saved space for the vaccines, which need to be kept in deep freezers. During the quarter, UPS said the daily average number of packages it delivered rose nearly 11%.

Its biggest customer — online shopping giant Amazon — helped fuel growth.

Amazon accounted for 13.3% of UPS’s total revenue last

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