UPS reported second-quarter net income of $445 million, down 49% from $873 million in the year-ago period, on a 16.7% reduction in revenue to $10.8 billion. Chairman and CEO Scott Davis said that while weak global economic conditions have "pressured" the delivery company, "UPS remains financially very strong" and "can weather this recession." CFO Kurt Kuehn added, "Declines in both our domestic and international business appear to be stabilizing but volumes will remain significantly below ...

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