The great George F. Will tells the tale.
Labor in the Driver's Seat
"Bailout" is now both a noun and a verb, and FedEx characterizes what Congress might do for UPS as the "Brown Bailout." But properly used, "bailout" denotes a rescue of an economic entity from financial distress. Although UPS is suffering from the recession, so is FedEx. Furthermore, UPS, whose revenue is 36 percent larger than FedEx's, began advocating this injury to FedEx long before this recession.As always, read the whole thing for two reasons (or more);
What UPS is doing is called rent-seeking -- bending public power for private advantage by hindering a competitor. This practice, which expands exponentially as government expands arithmetically, is banal but can have entertaining ricochets:
If Congress makes FedEx's operations more precarious by changing the law to make it easier for local disputes to cripple its operations, Smith says a multibillion-dollar order for 15 Boeing 777s will be automatically canceled. One of the unions lobbying on behalf of UPS and the Teamsters is the International Association of Machinists and Aerospace Workers, whose members make 777s.
1. Mr. Will is one of the finest writers alive and is both crystal clear and entertaining.
2. He provides valuable legal history and supporting arguments leading to the conclusion that I quoted above.
...for three - three reasons (channeling Monty Python)
3. It is important to understand now loyal Mr. Obama is to his owners, and make no mistake, he is owned by organized labor.