The late surge of on-line volume AND the weather. But think about it, many parts of the country had lousy mid to late December weather and so folks just sat home and typed in an order request and expected everything to go perfectly. Did UPS management under-predict peak season volume? Absolutely! Was this peak season unlike any other on company history? Absolutely? C'mon guys, anyone who worked at UPS would remember when the peak days used to be and it certainly wasn't as close to Christmas day. As the release said, UPS went to extraordinary lengths to procure staff and equipment to meet the ever-building surge and simply couldn't do it. Sometimes too much is simply too much. That said, the real key here is the going forward advice remains in place. Lessons were learned, future planning will be improved and the odds are the weather couldn't be any worse next year. BTW, this is not just a UPS-only issue. Expect FDX to discuss some of the same issues in their next report. Oddly enough, their quarter ending November may have allowed them to end 2013 and the start of 2014 as it relates to share price in a better place. Their time is coming though.