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Global parcel giant United Parcel Service is buying freight forwarder Fritz Cos. for $450 million in stock, the companies announced Wednesday morning.

New statistics from a Toronto researcher reveal that the life expectancy for male truck drivers is 15 years less than for the rest of the male population of the United States, and a poor diet is to blame.

In the news this morning: Cummins laying off 140 at Ind. plant; UPS said to eye Manila hub; Crude prices up slightly on gasoline stockpile ideas; and more.

Today's technology headlines: America Online, Psion in handheld email, instant message pact; ShipDesk.com goes under; 3Com exec ponders the future of wireless technology; and more.

Emery Worldwide Airlines has lost a round in court in its effort to block an possible airfreight deal between the U.S. Postal Service and FedEx when a federal court refused to issue an injunction against such an agreement.

This afternoon's headlines: UPS places $6 billion order for 60 Airbus jets; DOT unveils new software to identify freight bottlenecks; Mercury Air Cargo names new COO; and more.

Linda Chavez, President-elect Bush's pick to be labor secretary, announced Tuesday that she had abandoned her bid for the Cabinet post amid controversy that she housed an illegal immigrant.

FedEx and the U.S. Postal Service are close to a contract that could bring the Memphis-based company at least $5 billion in revenue over the next several years, making it the most lucrative postal contract ever, the Wall Street Journal reported Tuesday.

Swedish truckmaker AB Volvo does not plan to sell its 5% stake in Japanese automaker Mitsubishi and will proceed with taking a 19.9% share in the company, the Wall Street Journal reported Tuesday on its Web site.

Running a trucking operation in the western U.S. requires different strategies than in the more densely populated East. Several western states are freight magnets: lots of shipments go in but not nearly as many come out, making the backhaul as sought after as water in the desert.