Saturday, June 6, 2009

Not Cool, FedEx

By Rich Smith (TMF Ditty)
June 4, 2009 | Comments (1)

Call me a cynic, but I wonder: If FedEx (NYSE: FDX) had suddenly discovered $1 billion in windfall profits -- from, I dunno, finding an unclaimed cargo-hold full of gold bullion in one of its airplanes -- would it have kept the news to itself, or shouted it from the rooftops?

And if it's the latter -- as I strongly suspect it would be -- then I also wonder: When FedEx actually discovered that it was going to have to write down its assets by $1.2 billion this quarter, why did I find out about it in a quietly tucked-away SEC filing rather than in a press release?

Full Article CLICK HERE


Anonymous said...

because they always put these items tucked away in the best places, right in front of us. look at that report they put out about giving the pilots and there union a contract worth alot of money last year. where did some of that money come from, they said it right there in black and white, from REDUCTIONS from other employees like bonuses or what freight called vpep along with REDUCTIONS in medical and other employee related costs that were cut and slashed. they were Forced to pay the union folks our pilots, and they robbed us to do it. see everyone sunday 6/14/09 in O.C.

Anonymous said...

UNIONS get RESPECT! AT WILL EMPLOYEES get REDUCTIONS of bonuses / vpep, along with REDUCTIONS in medical, and other employee related costs.
For the good of the company of course!

Anonymous said...

Now they are spending appx 1 million dollars on Raises, Sorry to get you excited but NO, ADDS to fight you and I and the teamsters and the employee free choice act. More money that could help us dock workers pay bills and keep benefits but no, they would rather waste money on stupid adds asking for pitty while you and I stand in the food stamp line for help. this company sucks but soon we will get her back up and running the way an AMERICAN Company should be running. The Ceo's and those officers who make millions like some of those who get 300.00 an hour for phone calls, should be layed off or better yet, let go. By the way UPS Employees make 5 to 15 dollars an hour more than we do Because of the Teamsters Unions and there contract.

frankiez said...

Just a thought.Saw a piece on the news about S. Koreans protesting the sentences of the two U.S. reporters.
They were out in force,vocal and displaying all sorts of placards.
Geez,they were standing up for Americans-rare in recent history.They were refusing to accept the INJUSTICE of what was meted out to those two reporters.
Think we could get them to come over here and stand up for the worker's rights at Fredex?
We seem to have lost our spine for standing up to injustice.
I know that not all of us have,just a sufficient number to indicate that we've lost our will.
That's why YOU should vote for Teamsters representation,they'll protest for you.
Then maybe we'll get a piece of the ad money being expended to thwart our efforts.
Think about it