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110-474: United Parcel Service, Inc. ( UPS ) is an American multinational shipping & receiving and supply chain management company founded in 1907. Originally known as the American Messenger Company specializing in telegraphs, UPS has expanded to become a Fortune 500 company and one of the world's largest shipping couriers . UPS today is primarily known for its ground shipping services as well as

220-407: A Representative Town Meeting (RTM). The RTM must approve all budgets, and consists of 230 elected representatives. RTM members are not paid. The three selectmen are elected on a town-wide basis, although each person can only vote for two members. This assures that there will almost always be one Democrat and two Republicans or two Democrats and one Republican. While voter registration is skewed in

330-929: A 11,000 square meter package center in Mysłowice . The facility is equipped with a conveyor belt system capable of sorting up to 6,000 packages per hour. It also offers parking for 170 package cars and houses a customer call center. The size of the Mysłowice facility is more than three times larger than the one in Katowice . Mysłowice was chosen as the location for the new facility in 2017 due to its proximity to various business distribution centers and Katowice airport, where UPS has invested in additional air cargo capacity. UPS has 15 small package and four SCS operating facilities in Turkey , located in various cities such as Istanbul , Ankara , Izmir , Bursa , and Antalya . UPS's Asia-Pacific Air Hub

440-643: A Canadian transport and logistics company, for $ 800 million. UPS said the move would allow it to focus on small-package delivery. At the time of the sale, UPS Freight had about 14,500 employees, approximately 11,000 of them represented by the Teamsters union, and generated an estimated $ 3.15 billion in revenue in 2020 offering services across the US, Canada, and Mexico. TFI had reported $ 4.1 billion in revenue in 2019 and already operated truckload and LTL services in Canada. The acquisition

550-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

660-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

770-699: A domestic operation in West Germany . UPS Next Day Air Service was launched in 1985 for all 48 contiguous states plus Puerto Rico . In 1988, UPS Airlines was launched with authorization from the Federal Aviation Administration and became the fastest-growing airline in FAA history – currently the 10th largest airline in the United States. Domestic air service was added to Germany in 1989. In 1991, UPS relocated its headquarters to Sandy Springs, Georgia ,

880-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

990-603: A high ratio compared to other municipalities in Connecticut and elsewhere in the region. Former schools: The town of Greenwich is one political and taxing body, but consists of several distinct sections or neighborhoods, such as Banksville , Byram , Cos Cob , Glenville , Mianus , Old Greenwich , Riverside and Greenwich (sometimes referred to as central, or downtown, Greenwich). Of these neighborhoods, three (Cos Cob, Old Greenwich, and Riverside) have separate postal names and ZIP codes . The town has three selectmen and

1100-506: A holding company for subsidiaries that sell property-casualty insurance, XFL , and XPO, Inc. . Other major institutions in the township are Greenwich Hospital , Hyatt Regency , Tudor Investment Corporation , Eversource Energy , Brunswick School , and Camuto Group. Greenwich is home to the Greenwich International Film Festival , which acts in coordination with nonprofits to promote socially conscious filmmaking in

1210-605: A lawyer sued, saying his rights to freedom of assembly were threatened because he was not allowed to go there. The lower courts disagreed, but the Supreme Court of Connecticut agreed, and Greenwich was forced to amend its beach access policy to all four beaches in 2001. These beaches include Greenwich Point Park, Island Beach, Great Captain Island , and Byram Park. According to the United States Census Bureau in 2000,

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1320-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1430-776: A move to help expand its presence in European and Asian markets. However, the deal fell through in January 2013, after it was announced that UPS had failed to obtain permission from the European Commission and as such had been blocked on competition grounds. In February 2012, UPS acquired Brussels -based company Kiala that provides e-commerce retailers the option to have goods delivered to a conventional retail location. In 2018, The Wall Street Journal reported that UPS's operations were hampered by its outdated 20th-century technology, lagging behind its competitors. In May 2019, UPS launched

1540-464: A mural, The Packet Sails from Greenwich Green , painted in 1939 by Victoria Hutson Huntley . The Bruce Museum is a town-owned institution with sections devoted to art and natural history. Putnam Cottage (Knapp Tavern) historic house museum, is also located within Greenwich. Acacia Lodge No. 85, Ancient, Free & Accepted Masons, founded in 1857 in the top level of the old Cos Cob School House,

1650-539: A one-hour drive. Newark Liberty International Airport in New Jersey is also easily accessible from Greenwich, taking approximately one hour to drive to. According to the DataHaven Community Wellbeing Survey, a statewide program funded by various agencies and philanthropies, 4% of adults in Greenwich are "transportation insecure," meaning that they have had to stay at home during the past year due to

1760-484: A partnership with autonomous trucking startup TuSimple to carry cargo across Phoenix , Arizona, and Tucson , Arizona. In October 2019, UPS won the approval of the Federal Aviation Administration to fly drones. The certification will allow UPS to deliver health care supplies using a fleet of drones. On January 29, 2020, UPS announced it was investing in UK start-up Arrival and ordering 10,000 Generation 2 electric vehicles as

1870-536: A show, and on another occasion the Connecticut National Guard let adults and children fire machine guns into the water, according to an article in the Greenwich Time . Island Beach has changed over the decades. The bathhouse once on the island's eastern shore is gone, and erosion is slowly eating away at the beaches themselves. Greenwich experiences a humid continental climate ( Dfa ); however, it

1980-651: A small area around Los Angeles but by 1927 expanded to areas up to 125 miles outside the city. In 1924, a conveyor belt system was debuted for the handling of packages for UPS operations. In 1930, a consolidated carrier service began in New York City; soon after, the company expanded its services to include other major cities in the East and the Midwest . The use of a common carrier for delivery between all customers placed UPS in direct competition with USPS, and delivering parcels beyond

2090-677: A step towards a cleaner, more high-tech fleet. The deal runs from 2020 until 2024 and was reported to be worth more than $ 400 million. In March 2020, the company has appointed Carol Tomé to succeed David Abney as its chief executive officer. It was viewed as a move to steer the parcel delivery company through the turbulence of trade wars, technological disruption and the risk of a pandemic-induced recession. In March 2020, UPS expands its autonomous trips with TuSimple by adding an extra route between Phoenix and El Paso, Texas . In January 2021, UPS announced it had agreed to sell UPS Freight, its less-than-truckload freight business, to TFI International ,

2200-614: A suburb of Atlanta . Following this in 1992, UPS acquired both Haulfast and Carryfast and rebranded them UPS Supply Chain Solutions. Haulfast provided the pallet haulage and trucking network for the CarryFast group of companies. By 1993, UPS was delivering up to 11.5 million packages and documents per day. In order for the company to service the large volume of customers in 1991, UPS developed technologies to improve efficiency. A handheld device called "Delivery Information Acquisition Device" (DIAD)

2310-511: A total of five zip codes, plus a sixth zip code for PO Box. Additionally, Greenwich is often further divided into several smaller, unofficial neighborhoods. Greenwich's Hispanic and Latin American population is concentrated in the southwestern corner of the town. In 2011, numerous neighborhoods were described by Business Insider as being among the richest neighborhoods in America. Calf Island

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2420-445: Is a 29-acre (120,000 m ) island about 3,000 feet (910 m) from the Byram shore in Greenwich. More than half of the island (on the west side) is a bird sanctuary off-limits to members of the public without permission to visit. As of 2006 the island is available for overnight stays for those with permits, otherwise the east side is open from dawn until dusk. Great Captain Island

2530-571: Is a town-owned ice rink open seasonally. The Greenwich Polo Club is a polo club and event venue that was established in 1981. The town has four beaches on Long Island Sound : Greenwich Public Schools operates the public schools . Greenwich High School is the district's sole high school . As of 2012 , elementary schools had the same racial demographics as the town. The 3 middle schools have representative enrollment. Elementary Schools: Middle Schools: High Schools: Approximately 25-30% of K-12 residents are enrolled in private schools,

2640-407: Is also off the coast of Greenwich, and includes the southernmost point in Connecticut. There is a U.S. Coast Guard lighthouse on this island, as well as a designated area as a bird sanctuary. The lighthouse is a skeletal tower . Island Beach or "Little Captain Island" once was the venue for the town's annual Island Beach Day. Ventriloquist Paul Winchell and his dummy, Jerry Mahoney, once came for

2750-722: Is expected to be finalized by the end of the year. UPS’ global hub for air shipments Is the Worldport , located at Louisville Muhammad Ali International Airport . The facility contributes to the airport's status of the second-busiest cargo airport in the United States and the fourth-busiest worldwide. The Worldport consist of: UPS has five large regional air hubs in the United States, located in Ontario, California ; Dallas, Texas ; Rockford, Illinois ; Philadelphia, Pennsylvania ; and Atlanta, Georgia . These hubs serve as centers for sorting, transfer and delivery of packages. UPS has established

2860-558: Is located at Singapore Changi Airport . It is the company's largest hub outside of the United States, and handles over 1.1 million packages per day. The hub has been expanded by 25% in 2023 to meet the growing e-commerce demand following the pandemic . After the upgrade, it can process 40% more import packages and 45% more export packages, enabling extended pick-up cut-off times for all export services. The hub also features refrigerators and freezers that can maintain temperatures between −20 and 25 °C (−4 and 77 °F) to facilitate

2970-501: Is located in the town. Its members were originally of Union Lodge No. 5, founded 1763, and though its "home base" was Stamford, it was given the jurisdiction of "Stamford, Horseneck and parts adjacent." Union Lodge often met in Greenwich, and the first recorded meeting place was Knapp's Tavern on the King's Highway. The Greenwich Town Party is a recurring music festival in Greenwich. Past headliners have included The Temptations , Paul Simon ,

3080-461: Is no longer available on their consumer facing website. In 1995, UPS acquired SonicAir to offer service parts logistics and compete with Choice Logistics. In the same year, UPS launched UPS Logistics Group to facilitate global supply chain management services and consulting for customer needs. In 1997, a walkout by the 185,000 members of the Teamsters shut down UPS for 16 days. In 1998, UPS Capital

3190-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

3300-670: Is part of the Western Connecticut Planning Region . The town is the southwesternmost municipality in both the State of Connecticut and the six-state region of New England . The town is named after Greenwich , a royal borough of London in the United Kingdom . It is the largest town on Connecticut's affluent Gold Coast . Greenwich is home to many hedge funds and financial services firms due to its residential setting and proximity to Manhattan . The town of Greenwich

3410-547: Is quite close to a humid subtropical climate ( Köppen climate classification Cfa ). During winter storms, it is common for the area north of the Merritt Parkway to receive significantly heavier snowfall than the area closer to the coast, due to the moderating influence of Long Island Sound . At the 2020 U.S. census , there were 63,518 people in Greenwich. Per the American Community Survey 's 2018 estimates,

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3520-558: Is served by the Metro-North Railroad 's New Haven Line (the four stations, from west to east, are Greenwich , Cos Cob , Riverside , and Old Greenwich ) and is approximately a 50-minute train ride to Grand Central Terminal in Manhattan on the express train and a 60-minute ride on the local. The Amtrak Acela , Northeast Regional , and Vermonter trains stop in the adjacent city of Stamford . Interstate 95 goes through

3630-806: Is the fifth busiest airport in the world by cargo traffic based on preliminary statistics from ACI , and the third busiest in the U.S. behind FedEx's Memphis Superhub and Ted Stevens Anchorage International Airport . The company is one of the largest private employers in the United States . On August 28, 1907, James E. Casey founded the American Messenger Company with Claude Ryan in Seattle , Washington, capitalized with $ 100 in debt. Most deliveries at this time were made on foot and bicycles were used for longer trips. The American Messenger Company focused primarily on package delivery to retail stores with special delivery mail delivered for its largest client,

3740-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

3850-930: The British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

3960-619: The East Coast and West Coast . Shortly before 3:00 a.m, on the morning of December 5, 1974, a package bomb exploded at UPS's Northside center on Beaver Avenue in Pittsburgh, Pennsylvania, killing one man and injuring 10 others. The murder case was initially investigated by Robert Coll, Assistant Superintendent of City Detectives, and later the FBI. The package originated in Erie, Pennsylvania and its destination

4070-573: The United States Post Office Department -- the predecessor of today's United States Postal Service . In 1913, the company acquired a Ford Model T as its first delivery vehicle. Casey and Ryan merged with a competitor, Evert McCabe, and formed Merchants Parcel Delivery . Consolidated delivery was also introduced, combining packages addressed to a certain neighborhood onto one delivery vehicle. In 1916, Charlie Soderstrom joined Merchants Parcel Delivery bringing in more vehicles for

4180-650: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

4290-633: The California border brought it under the jurisdiction of the Interstate Commerce Commission . The first city for UPS to use common carrier status outside California was Chicago, Illinois , in 1953. Air service through UPS was first used in 1929 through private airlines. However, the Great Depression and a lack of volume ended the service. In 1953, UPS resumed air service called UPS Blue Label Air with two-day service to major cities along

4400-587: The Democrat in 13 of the 17 presidential elections from that party's founding in the mid-1820s up through 1892. Then the GOP would win Greenwich in 27 of the 28 presidential elections from 1896 to 2004, and in three of the last four presidential elections, the Democrat has carried the town. The largest share of the vote received by a Democratic presidential candidate is the 64.56% of the vote received by Martin Van Buren in 1836,

4510-573: The Eagles , Santana , the Doobie Brothers , Billy Joel , and Mumford & Sons . The Greenwich Y.M.C.A. , which appears on the National Register of Historic Places , offers fitness and social services. Equinox , a luxury fitness club, has a location in Greenwich. Arch Street, The Greenwich Teen Center has age-specific programs and events on weekdays and weekends. Dorothy Hamill Rink

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4620-546: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

4730-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

4840-505: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

4950-545: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

5060-531: The Republicans' favor, they do not have a lock on the First Selectman's chair, and Democrats have held the seat recently. Many of the other town committees have equal representation between Democrats and Republicans, regardless of the vote breakdown, since each individual can only vote for half as many seats as are available. Greenwich, Connecticut was a mostly Democrat jurisdiction up through 1892, voting for

5170-685: The South it is bordered by the Long Island Sound . To the East, it is bordered by Stamford, Connecticut . The U.S. Census Bureau recognizes nine CDPs within the town: Byram , Cos Cob , Glenville , Indian Field , Old Greenwich , Pemberwick , Riverside , Rock Ridge and the Greenwich CDP covering the historic municipal center of the town. The USPS lists separate zip codes for "Greenwich" (spanning two zip codes), Cos Cob, Old Greenwich, and Riverside, for

5280-458: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

5390-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

5500-473: The U.S.) and supply chain services. UPS reports its operations in three segments: UPS services for consumers include: UPS also offers UPS SurePost, in which packages are handled by UPS in intermodal transit, and delivered last-mile by USPS. International Package operations include delivery to more than 220 countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or distribution outside

5610-740: The UPS Store , a retail chain which assists UPS shipments and provides tools for small businesses. UPS offers air shipping on an overnight or two-day basis and delivers to post office boxes through UPS Mail Innovations and UPS SurePost, two services that pass on packages to the United States Postal Service for last-mile delivery . UPS is the largest courier company in the world by revenue, with annual revenues around US$ 85 billion in 2020, ahead of competitors DHL and FedEx . UPS's main international hub, UPS Worldport in Louisville, Kentucky ,

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5720-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

5830-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

5940-635: The United States and Canada. In 2003, the company rebranded the Mail Boxes, Etc. network as The UPS Store . In 2004, UPS entered the heavy freight business with the purchase of Menlo Worldwide Forwarding , a former subsidiary of Menlo Worldwide; UPS rebranded it as UPS Supply Chain Solutions. The purchase price was US$ 150 million and the assumption of US$ 110 million in long-term debt. On August 5, 2005, UPS announced that it has completed its acquisition of less-than-truckload (LTL) trucking company Overnite Transportation for US$ 1.25 billion. This

6050-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

6160-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

6270-561: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

6380-420: The United States. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

6490-687: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

6600-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

6710-418: The age of 18 living with them, 59.4% were married couples living together, 8.0% had a female householder with no husband present, and 30.1% were non-families. 24.8% of all households were made up of individuals, and 9.9% had someone living alone who was 65 years of age or older. The average household size was 2.60 and the average family size was 3.12. In the town the population was spread out, with 25.4% under

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6820-526: The age of 18, 4.1% from 18 to 24, 28.8% from 25 to 44, 25.7% from 45 to 64, and 15.9% who were 65 years of age or older. The median age was 40 years. For every 100 females, there were 90.1 males. For every 100 females age 18 and over, there were 85.2 males. Greenwich is home to three of the wealthiest zip codes in Connecticut, 06878, 06830 and 06831, with average adjusted gross incomes of $ 754,990, $ 638,560 and $ 721,550, and median household incomes of $ 182,386, $ 109,250 and $ 155,417, respectively. In recent decades,

6930-451: The area's early history as "Elizabeth's Neck" in recognition of Elizabeth Fones and the 1640 purchase of the Point and much of the area now known as Old Greenwich . Greenwich was declared a township by the Connecticut General Assembly in Hartford on May 11, 1665. During the American Revolution , General Israel Putnam made a daring escape from the British on February 26, 1779, in Greenwich. Although British forces captured and sacked

7040-401: The average family size was 3.28. The median household income excluding capital gains was $ 142,819 and the average income was $ 272,636. Including capital gains, the median household income in 2014 was $ 511,411. The per capita income for the town was $ 98,467. At the census of 2000, there were 61,101 people, 23,230 households, and 16,237 families residing in the town. The population density

7150-408: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

7260-544: The city's downtown in an annual June festival, in addition to screenings and events held year-round. The Greenwich Symphony Orchestra begun in 1958 as the Greenwich Philharmonia. The Philharmonia was conducted by high school music teacher Ken Wendrich. The orchestra became fully professional by 1967. That year the orchestra found a new conductor, Juilliard graduate John Nelson. The Greenwich Choral Society, founded in 1925, performs locally and elsewhere, including in New York City and Europe. The Greenwich post office contains

7370-579: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

7480-604: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

7590-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

7700-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

7810-471: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Greenwich, Connecticut Greenwich ( / ˈ ɡ r ɛ n ɪ tʃ / GREH -nitch ) is a town in southwestern Fairfield County, Connecticut , United States. At the 2020 census , it had a population of 63,518. Greenwich is a principal community of the Bridgeport–Stamford–Norwalk–Danbury metropolitan statistical area , which comprises all of Fairfield County, and

7920-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

8030-486: The fiscal year 2023, UPS reported earnings of US$ 6.71   billion, with an annual revenue of US$ 90.96   billion, a 9   percent decrease over the previous fiscal cycle. UPS ranked No. 34 on the 2022 Fortune 500 list of the largest United States corporations by total revenue. UPS's primary business is the time-definite delivery of packages and documents worldwide. In recent years, UPS extended its service portfolio to include LTL transportation (primarily in

8140-457: The growing delivery business. In 1919, the company expanded for the first time outside of Seattle to Oakland, California , and changed its name to United Parcel Service. The common carrier service was acquired in 1922 from a company in Los Angeles , California. UPS became one of the only companies in the United States to offer common carrier service. At first, common carrier was only limited to

8250-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

8360-686: The highest asking price for a residential property in town was the Copper Beech Estate at $ 190 million. It later sold for $ 120 million. Greenwich, along with Stamford , are the economic centers of Fairfield County and its metropolitan statistical area. Prominent companies based in the town of Greenwich are: AQR Capital , Blue Harbour Group , the now defunct Blue Sky Studios / 20th Century Animation , Blyth, Inc. , Cambridge Solutions, First Reserve Corporation , Interactive Brokers , Nestlé Waters North America , North Street Capital , Silver Point Capital , Viking Global Investors , W. R. Berkley ,

8470-613: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

8580-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

8690-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

8800-564: The largest share of the vote received by a Republican presidential candidate is the 78.25% of the vote received by Dwight D. Eisenhower in 1956, and the largest percentage of the vote receive by third-party presidential candidates was the 27.61% of the vote received by the third-party candidates in the 1912 presidential election. Most prominently, Theodore Roosevelt under the Bull Moose Party. The results of Greenwich in all 49 presidential elections since 1828 can be found below: The town

8910-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

9020-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

9130-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

9240-658: The nearest interchange is at the Westchester County Airport in New York State . Westchester County Airport is the closest commercial airport to Greenwich. It takes approximately 15 minutes to drive from the town's center. This is followed by LaGuardia Airport in Queens, New York, approximately a 35-minute drive. John F. Kennedy International Airport in Queens, New York , is the closest international airport, approximately

9350-476: The population of Greenwich grew to 62,574. There were 24,234 housing units, 22,251 households, and 16,322 families in 2018. The town's racial makeup consisted of 72.8% non-Hispanic whites , 3.3% Blacks or African Americans , 0.1% American Indian or Alaska Natives , 7.6% Asian Americans , and 2.2% multiracial Americans . Hispanic and Latin American residents made up 13.8% of the estimated population. The average household size from 2014 to 2018 grew to 2.78 and

9460-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

9570-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

9680-458: The southern end of town, and there are four exits from I-95 in Greenwich, exits 2 through 5. The Boston Post Road (also known as East or West Putnam Avenue or simply Route 1 ) also goes through town, as does the Merritt Parkway , although the Merritt Parkway is a considerable distance from the downtown area. Interstate 684 passes through Greenwich, but cannot be entered or exited there, and

9790-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

9900-582: The temporary storage of shipments, especially for critical healthcare deliveries such as COVID-19 vaccines . It is part of Changi's cold chain infrastructure, which ensures an unbroken cold chain for pharmaceutical manufacturers . UPS has five regional hubs in the Asia-Pacific region , located in Hong Kong , Japan , Korea , Malaysia , and Thailand . These hubs serve as major sorting and distribution centers for packages moving within and between regions. For

10010-451: The town had a total area of 67.2 square miles (174 km ), of which 47.8 square miles (124 km ) is land and 19.4 square miles (50 km ), or 28.88%, is water. In terms of area, Greenwich is twice the size of Manhattan . The town is bordered to the West by Port Chester, New York , and Rye Brook, New York . To the North it is bordered by Armonk, New York , and Banksville, New York . To

10120-407: The town has attracted wealthy expatriates from around the globe due to its extremely low tax rate, desirable school system, and proximity to Manhattan , which is an hour by Metro North. The median listing price for a home in the town was $ 2.3 million in 2021. The coastal neighborhood of Belle Haven, along with Backcountry, have some of the wealthiest single family real estate in the world. In 2014,

10230-505: The town, Putnam was able to warn Stamford . In 1974, Gulliver's Restaurant and Bar , on the border of Greenwich and Port Chester , burned, killing 24 young people. In 1983, the Mianus River Bridge , which carries traffic on Interstate 95 over an estuary, collapsed, resulting in the death of three people. For many years, Greenwich Point (locally termed "Tod's Point"), was open only to town residents and their guests. However,

10340-472: The transaction expected to be closed in the fourth quarter. In November 2022, it was announced UPS had acquired the healthcare focused, Europe -based warehousing and temperature-controlled transport company, Bomi Group. In September 2023, it was announced UPS had acquired the Long Beach, California -headquartered time-critical, health care logistics company, MNX for an undisclosed amount. In October 2023, it

10450-586: The transaction from the European Commission . The first joint package car center operation in Dartford , Kent, was opened in 2006. On August 28, 2007, United Parcel Service celebrated its 100th anniversary. All Nippon Airways , a Star Alliance member, and UPS formed a cargo alliance and code-share to transport member cargo in 2008, similarly to an airline alliance . On March 19, 2012, UPS announced that it intended to acquire TNT Express for $ 6.8 billion, in

10560-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

10670-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

10780-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

10890-467: Was 1,277.6 inhabitants per square mile (493.3/km ). There were 24,511 housing units at an average density of 512.5 per square mile (197.9/km ). At the census estimates of 2013, the racial makeup of the town was 80.90% White , 4.90% Black, 0.10% Native American, 7.80% Asian, 0.03% Pacific Islander, and 2.50% from two or more races. Hispanic or Latino of any race were 13.90% of the population. There were 23,230 households, out of which 33.5% had children under

11000-498: Was announced UPS had acquired the Los Angeles -headquartered reverse logistics company, Happy Returns from PayPal for an undisclosed amount. In January 2024, UPS announced that it planned to cut 12,000 jobs and mandate that staff return to the office five days a week. Chief Executive Carol Tomé blamed the move on a "difficult and disappointing year" in 2023. In July 2024, UPS announced that it had entered in to an agreement to acquire Mexican logistics company Estafeta Mexicana. It

11110-539: Was approved by the FTC and Overnite shareholders on August 4, 2005. On April 28, 2006, Overnite officially became UPS Freight . In 2005, UPS offered non-stop delivery service between Guangzhou and the United States. On October 3, 2005, UPS completed the purchase of Lynx Express , one of the largest independent parcel carriers in the United Kingdom, for £ 55.5 million (US$ 97.1 million) after receiving approval for

11220-587: Was completed in April and UPS Freight was renamed TForce Freight . In 2021, following the company's shift to target smaller customers to boost profits during the COVID-19 pandemic , UPS reported a 21% jump in their fourth quarter sales to $ 24.9 billion. CEO Carol Tomé reported that Amazon paid UPS $ 11.3 billion in shipping in 2020, accounting for 13.3% of the company's revenue. In September 2021, UPS entered into an agreement to acquire Roadie for an undisclosed amount with

11330-493: Was created to record and upload delivery information to the UPS network immediately upon pickup by every UPS driver. In 1992, UPS began tracking all ground shipments electronically. In 1994, UPS.com debuted, and provided an interface to make what was primarily internal operational information available for customer access. After 27 years of providing this information, UPS chose to hide it again for most packages in 2021 and this information

11440-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

11550-500: Was established to enable companies to grow their business through a comprehensive menu of integrated financial services through UPS. UPS acquired Challenge Air in 1999 to expand its operations in Latin America . On November 10, 1999, UPS became a public company in the largest initial public offering of the 20th century. In 2001, UPS acquired Mail Boxes Etc., Inc. , a franchised network of packing and shipping retail centers across

11660-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

11770-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

11880-597: Was settled in 1640, by the agents Robert Feake and Captain Daniel Patrick, for Gov. Theophilus Eaton of New Haven Colony , who purchased the land from the Siwanoy Indians in exchange of 25 English coats. One of the founders was Elizabeth Fones Winthrop , daughter-in-law of John Winthrop , founder and governor of the Massachusetts Bay Colony . What is now called Greenwich Point was known for much of

11990-573: Was the Spectrum Cycle Shop, Forks Church, Armstrong Co. UPS claimed no liability in the incident, and the case has yet to be solved. In 1975, UPS moved its headquarters to Greenwich, Connecticut , and began serving all of the 48 contiguous states of the United States. This expansion of operations made UPS the first package delivery company to serve every address in the contiguous United States. Additionally in 1975, UPS went international by establishing operations in Canada. In 1976, UPS established

12100-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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