This paper looks at these two well known companies, United Parcel Services (UPS). And Federal Express (FedEx). This paper will examine their working capital positions as competitors as well as suppliers in the delivery industry. This paper will explore the functions of the intermediaries and financial regulatory bodies. In conclusion, this paper will delve into the 2002 Sarbanes-Oxley and how it impacted both businesses. Working capital is defined as "a company's current assets minus its current …showed first 75 words of 1901 total…

…showed last 75 words of 1901 total…W., Stice, J., Stice, E., & Swain, M. (2005). Accounting Concepts & <Tab/>Applications. (9th ed.). Thompson, Mason, OH. FedEx Annual Report. (2005). Retrieved April 13, 2006, from http://www.fedex.com/us/investorrelations The Sarbanes-Oxley Act Community Forum: Introduction to Sarbanes-Oxley. (2003). Retrieved April 27, 2006 from http://www.sarbanes-oxley-forum.com/ UPS Annual Report. (2005). Retrieved April 16, 2006, from http://www.shareholder.com/ups/downloads/2005_Annual_Report.pdf Working capital, electronically retrieved April 29, 2006 from www.dictionary.com