SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report August 6, 1997
(Report of earliest event reported) (August 4, 1997)
United Parcel Service of America, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-4714 95-1732075
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
55 Glenlake Parkway, NE Atlanta, Georgia 30328
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (404) 828-6000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
The collective bargaining agreement between United Parcel Service
of America, Inc. ("UPS") and the International Brotherhood of Teamsters
("IBT") expired at midnight on Thursday, July 31, 1997, after more than
four months of negotiations over a new labor agreement. The IBT
leadership called for a strike, commencing at 12:01 a.m. August 4, 1997.
The IBT represents approximately 190,000 employees of UPS, principally
feeder drivers, package car drivers and package facility workers. UPS
does not know how many of these employees will report for work despite
the strike, and is unable to predict the duration of the strike.
UPS intends to respond to the IBT labor action by curtailing its
operations during the strike and by using managers and supervisors to
provide service to customers. UPS intends to limit its service during
the strike to packages currently in the UPS system and to high priority
packages that include domestic air express packages and international
packages, with a priority placed on critical and emergency goods, where
possible. The labor action has already caused a significant loss in
volume. Management expects that revenues and earnings will be adversely
affected during the IBT labor action and that the Company may lose some
customer accounts as a result, but cannot predict the financial impact
of the strike, which will depend in large part upon its duration. UPS
expects that after a new labor agreement is negotiated and ratified,
employee expense will increase. The Company believes that its current
assets and available credit are adequate to support the Company's
operations during the strike.
This Form 8-K contains statements which may constitute "forward-
looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Those statements include statements regarding the
intent, belief or current expectations of UPS and its management. Such
forward-looking statements involve risks and uncertainties with respect
to future events and may be affected by such matters as, among others,
the duration of the IBT strike, the cost of a new collective bargaining
agreement, and the number of UPS customers who elect to do business with
competitors of UPS.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
UNITED PARCEL SERVICE OF AMERICA, INC.
(Registrant)
By: /S/ Joseph R. Moderow
---------------------------
Name: Joseph R. Moderow
Title: Senior Vice President
Date: August 6, 1997