UPS plans expansion
into rural cities, towns
Package delivery giant United Parcel Service Inc. is moving further into rural areas that are underserved in the era of e-commerce.
The Atlanta-based company said Wednesday it’s adding 1,500 pickup and drop-off locations at small businesses primarily located in rural cities and towns across the United States by year’s end. It’s through its Access Point program, where UPS pays local merchants a small fee to act as a package pickup location. The move will increase those locations to more than 22,000 this year. The initiative is part of an overall strategy by UPS to respond to the growth of online shopping and pressures for speedy delivery and returns.
With this move, 92% of the U.S. population will be within five miles of a UPS Access Point location.
Marathon charts course
for spinoff of Speedway
Findlay-based Marathon Petroleum Corporation said Wednesday it expects to spin off its Speedway stores by the end of the year.
Company officials discussed the plan to make Speedway an independent, publicly traded company during a conference call with investors Wednesday. The separation is expected early in the fourth quarter.
Fake meat maker loses
one client, adds another
Plant-based meat maker Beyond Meat is getting a thumbs down from Tim Hortons and a thumbs up from KFC.
Shares in El Segundo, California-based Beyond Meat fell Wednesday after Tim Hortons said it would drop Beyond Meat breakfast sausage off the menu at its 4,000 Canadian restaurants.
Tim Hortons introduced Beyond Meat sausage in May but said it was a slow seller because customers preferred the regular sausage. Tim Hortons said it will consider adding alternative meat in the future.
Beyond Meat did get a vote of confidence Wednesday from KFC. The chain said it will start testing Beyond Meat plant-based fried chicken in Charlotte, North Carolina, and Nashville, Tennessee, next month.
Warren Buffett selling
his newspaper holdings
Billionaire Warren Buffett is giving up on the newspaper business.
He’s selling all of Berkshire Hathaway’s publications to Lee Enterprises for $140 million, including the Omaha World-Herald in Nebraska and The Buffalo News in New York.
The deal covers 31 daily newspapers in 10 states as well as 49 paid weekly publications with digital sites and 32 other print products.
Lee has been managing the BH Media publications since July 2018.