Any route Bear Stearns chooses would be to "protect our customers and maximize shareholder value, " Schwartz said.

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However, heavier, less urgent and low value per pound shipments will increasingly shift towards the sea route as companies thrive to manage their total distribution costs efficiently, which would limit the growth in air freight segment.

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"As the Government goes down the route of championing vocational education they need to make their mind up as to whether all qualifications are of value, or if it is simply particular academic subjects which carry weight when judging a school, " said general secretary Christine Blower.

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