[sokoloff]

UPS does indeed run a third-party-logistics (3PL) business, but I doubt that's able to be cannibalized to act as a buffer tank for their parcel business. (I also suspect that UPS's 3PL business is also booming this year. They reported Supply Chain & Freight as their fastest growing segment in Q3 earnings, growing 16.5% year-on-year, while US domestic grew "only" 13.8% with the note "continued elevated residential demand". SC&F is not solely domestic 3PL, so it's hard to be sure how that sub-segment is doing, but it's probably also under volume pressure.)