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Wednesday, January 9, 2008

UPS shifts debt strategy

In Georgia business news, Atlanta-based United Parcel Service says it will repurchase up to ten billion dollars in company stock within the next two years. And it has decided it will take on greater debt to allow it to make more investments in its business. UPS also said that its board has approved a change in financial policy that will allow the company to significantly increase the debt component of its balance sheet. UPS said the change in policy "will permit us to make increased investments in the business, pursue selective acquisitions and undertake larger share repurchases."

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