Controversy swirls over shipping stocks that sink as rates rise

If the stock market undervalues an industry like shipping for too long, fewer large companies do IPOs and more large-cap companies that are already public go private. On the other end of the size spectrum, some microcap companies effectively disregard their stock price, raising cash by repeatedly selling discounted shares and warrants even when they’re…

Teamsters reject UPS’ first economic counterproposal

Call it a game of contract cat and mouse or not, but the Teamsters union strongly attacked UPS Inc.’s economic counterproposal as negotiations resumed in Washington to hammer out a new master contract. The company’s counterproposal “included minimal raises and overall wage cuts to workers’ cost-of-living adjustments,” the union said Thursday. The Teamsters National Negotiating…