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FedEx 3Q earnings tumble 75%
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<blockquote data-quote="MrFedEx" data-source="post: 519983" data-attributes="member: 12508"><p>You had stated that our operating costs would rise about 30% if we went IBT. If you add up the money Fred picked from our pockets with the pension takeaway, and the many years of underpaying hourlies with extended top-outs and denyed market level raises, that's probably about 30%, isn't it? </p><p> </p><p>You said you weren't management, but you also said you just took a 5% pay cut. Which is it?</p><p> </p><p>The couriers you reference as not wanting to go union....do you think they'd actually be honest with someone in management given the unspoken but very prevalent anti-union attitude of the corporation? Being openly pro-union at FedEx is like painting a bullseye on your back. The efforts to get rid of you would start as soon as managment put you on the watch list, which does exist (illegally). At my location, most employees have finally figured out that PSP is a joke, and that Fred is not their friend. It's taken a long time, but even the most purple among us are starting to wise up. I'd say it's about 75/25 <strong>for</strong> the Teamsters at my station. </p><p> </p><p>Why do you think the SFA has been delayed this year? First, Fred is awaiting the decision on the RLA. Second, he's seen the results of the recent Loyalty Survey, and I'm guessing they were not favorable. And third, he will definitely not raise pay if he successfully blackmails Congress, so he can save himself a few hundred million if he gets his way on that front.</p><p> </p><p>I've been approached to go into management on numerous occasions, and I've always stayed away because I love my family too much to subject them to it. I also disagree with Fred's USMC managment credo. Maybe it works in the Marine Corps, but it doesn't translate well into the business world. Your 70% figure might even be low on the divorce rate.</p><p> </p><p>I'm glad you've found a happy place at FredEx, and maybe you're one of the good managers that are so scarce at Express. Most wouldn't even understand this conversation, and many wouldn't be able to express themselves very well in this forum. You're obviously much brighter than most of them. That's what happens when you scare away the prime candidates and accept what's left over.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 519983, member: 12508"] You had stated that our operating costs would rise about 30% if we went IBT. If you add up the money Fred picked from our pockets with the pension takeaway, and the many years of underpaying hourlies with extended top-outs and denyed market level raises, that's probably about 30%, isn't it? You said you weren't management, but you also said you just took a 5% pay cut. Which is it? The couriers you reference as not wanting to go union....do you think they'd actually be honest with someone in management given the unspoken but very prevalent anti-union attitude of the corporation? Being openly pro-union at FedEx is like painting a bullseye on your back. The efforts to get rid of you would start as soon as managment put you on the watch list, which does exist (illegally). At my location, most employees have finally figured out that PSP is a joke, and that Fred is not their friend. It's taken a long time, but even the most purple among us are starting to wise up. I'd say it's about 75/25 [B]for[/B] the Teamsters at my station. Why do you think the SFA has been delayed this year? First, Fred is awaiting the decision on the RLA. Second, he's seen the results of the recent Loyalty Survey, and I'm guessing they were not favorable. And third, he will definitely not raise pay if he successfully blackmails Congress, so he can save himself a few hundred million if he gets his way on that front. I've been approached to go into management on numerous occasions, and I've always stayed away because I love my family too much to subject them to it. I also disagree with Fred's USMC managment credo. Maybe it works in the Marine Corps, but it doesn't translate well into the business world. Your 70% figure might even be low on the divorce rate. I'm glad you've found a happy place at FredEx, and maybe you're one of the good managers that are so scarce at Express. Most wouldn't even understand this conversation, and many wouldn't be able to express themselves very well in this forum. You're obviously much brighter than most of them. That's what happens when you scare away the prime candidates and accept what's left over. [/QUOTE]
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