Coffee Break – DHL Arm Has Appeal for FedEx

Could FedEx use some more airplanes? The company says not, but German newspaper Financial Times Deutschland says that the Memphis giant is trying to buy rival DHL’s U.S. express business.

FedEx late Thursday said it could not comment on corporate development matters.

Industry insiders say the deal is unlikely because DHL is a money- losing, marginal business in the United States.

Others say if the price were good enough, the deal would make sense because DHL, funded by the monopoly Deutsche Post World Net, is about to lose its edge when the German postal service goes private.

Wednesday, the trade journal Air Cargo World Online reported that Deutsche Post would take an $874 million write-down of the value of its struggling DHL Express business in the Americas.

Diamond unifying

Memphis-based Diamond Cos., one of the largest single-owned International truck dealer organizations, is unifying its corporate structure under one name.

Beginning Feb. 1, Diamond’s 12 truck dealerships, including its Memphis facility, its leasing operations and bus company, will be known as Diamond International.

“By unifying under one name and logo, we will advance our shared goal of being the absolute best service organization to the truck transportation industry,” said Dick Sweebe, president and CEO of Diamond Cos.

The company, which started in Memphis in 1982, has 17 branches in five states.

Museum swings

The Cotton Museum will turn into a big-band dancing emporium Saturday .

Memphis Knights Big Band, which performs a mix of swing-era favorites, jazz standards, Latin jazz and modern big band, will play from about 7:30 to 9:30 p.m.

A limited number of reserved seats at tables are available for $15 per person; general admission seating is $10. The event is BYOB; mixers will be available.

Doors open at 7 p.m. The museum is at 65 Union.

Munis mount

Morgan Keegan & Co. Inc. was the senior manager for more municipal bond issues in Tennessee and the South Central United States last year than any other firm, according to Thomson Financial, a municipal bond information service.

In Tennessee, the firm was senior manager of 56 issues with a total par value of $1.3 billion, giving it 20 percent of the market.

For the 15th straight year, Morgan Keegan was the top municipal bond underwriter in the South Central United States, which includes Alabama, Arkansas, Kentucky, Louisiana, Mississippi and Tennessee.

The firm was senior manager of 224 offerings with a par value of $4 billion, earning a 14 percent market share.

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Well said

Winston Churchill:

“Courage is going from failure to failure without losing enthusiasm.”

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Originally published by The Commercial Appeal .

(c) 2008 Commercial Appeal, The. Provided by ProQuest Information and Learning. All rights Reserved.