UPS, FedEx fire shots at each other from their trenches in New Mexico

Over much of the last two years, United Parcel Service (UPS) and FedEx Corp. (FDX) have been sniping at each other in the halls of Congress and in the papers. The battle has been conducted through surrogates: as high-priced lobbyists dispensing largesse, and by lower-octane (but no less eloquent) columnists and media pundits.

On Tuesday, the two opponents finally met face-to-face at a meeting of the Albuquerque Chamber of Commerce. While it lacked the energy and drama of the Rumble in the Jungle, everyone agrees that the Altercation in Albuquerque was deeply important. But the two fighters don't see eye-to-eye about what it all meant.