Monday, November 15, 2010

UPS chief promotes free trade

ATLANTA, GA -- UPS Chairman and CEO Scott Davis stumped for global free trade at a forum here Monday, arguing that a surge in exports would accelerate economic recovery. He lamented Congressional failure to approve negotiated trade agreements with South Korea, Colombia and Panama, claiming a cost to the U.S. of 380,000 jobs.

Davis further criticized "Buy America" provisions which prevent foreign firms from bidding on major contracts with the federal government.

Atlanta-based UPS' profits soared 81 percent to $991 million in the third quarter of 2010.