UPS News Update: Fiscal Policy ‘A Drag’

united states fiscal policy

UPS News Update: Scott Davis, UPS Chairman and CEO was quoted on Fox Business on Wednesday as saying that the White House’s fiscal policy has caused problems for business.

“In an exclusive interview with FBN’s Adam Shapiro, the former Chairman of the Federal Reserve Bank of Atlanta and current member of President Obama’s Export Committee also discussed the company’s global growth and his succession plans.

On Global Growth

Davis said he believes the current economic climate is on track with the 2% growth predictions for the U.S. economy made at the beginning of 2013.Those same predictions also showed growth in China at 6% to 7%.

“The developing world is still the fastest growing market for us,” Davis says. “The important thing is it’s not getting any worse. I do see global trade [and] cross-border trade increasing.”

On U.S. Economy

Davis believes the Obama administration’s fiscal policy has been a drag on business. He was quick to praise the current chairman of the Federal Reserve, Ben Bernanke, saying the Fed chief has done a great job of getting the country through the financial crisis. Still, Davis said lawmakers and the White House need to work to find middle ground.

“It’s been very frustrating that congress and the administration will not make the decision, they will not compromise,” Davis said, calling for tax code reformation. “Our customer base, the backbone is small to medium sized customers, and they frankly are not going invest, they’re not going hire people until they understand what the policy is.”

On Succession Plans

After five and a half years at the helm of UPS, Davis said he isn’t ready to give up his position yet, but the company is always looking to the future.

“We’re always looking at succession planning. We take it very seriously,” Davis says. “We’ve got a great pipeline but I’m not raising my hand to step down today.”

UPS, based in Louisville, Kentucky are the world’s biggest parcel delivery service handling 2000 packages every 17 seconds. They also own and operate the eighth largest airline in the world. They have 400,000 employees and in 2012 reported $54bn in revenue.

Being such an influential conglomerate dictates that their customer services department is in high demand. The best way to get in touch with them if you have an enquiry is to contact them directly on the UPS helpline.

This article was originally found on the Fox Business website, click here to read more.

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