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FedEx has just released its fiscal Q4 financial
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<blockquote data-quote="Ricochet1a" data-source="post: 1156208" data-attributes="member: 22880"><p>Here's the REAL link you need to access....</p><p></p><p>FedEx - News Release</p><p></p><p>And just as predicted, the combined costs of the "Business Realignment Program" combined with the "Aircraft Impairment Charge" have canceled out the operating margin of Express for the 4th quarter - leaving Express with a net of ZERO for the quarter (funny how that accounting worked out...).</p><p></p><p>As I posted over a month ago, Express within the FedEx Corporation <u><em>right now</em></u> is seen as just a jobs program until they can implement all the changes they have in store. Then after the dead weight in Memphis is cut loose and all the changes in operations are made (everyone say DRA and no need for experienced Couriers....), Express will start to show profitability again.</p><p></p><p>You can guess what this means for any real pay raise in October. I'll start the betting at a nominal 1% raise just so that Express can say they gave you something. If you get 2% or more, I'll be shocked beyond belief.</p><p></p><p>Oh, don't be shocked when your premium for your health care goes up by an amount that completely takes back any of that pay raise that Fred will give you. If you are a wage employee, you've wasted all this time (well, you have paid your bills, but you are making NO progress towards improving your earning power), and have not done the hard work of really organizing yourselves (working to get those organizers in at least 400 stations).</p><p></p><p>There is NO union out there that will do it for you - you have to do it for yourself.</p><p></p><p>Since you have all made it abundantly clear that you won't go to the efforts to organize yourselves, you had either get the K-Y out or start making real plans on another career (if you are full-time an have made Express a "career" as a wage employee). Things aren't looking too bright for the salaried ops level employees either at this stage.</p><p></p><p>Ground on the other hand, had a final "adjusted" operating margin of 16.7%....</p><p></p><p>And there are still doubters out there as to the direction that Express is slowly turning towards.</p><p></p><p>Look at Ground, and one will see the future of Express (as far as planned cost structure). Fred can't turn Express into a contract operated game, but he sure as hell can use the same methods he has perfected in Ground, to get Express' "adjusted" operating margin above 10%.</p></blockquote><p></p>
[QUOTE="Ricochet1a, post: 1156208, member: 22880"] Here's the REAL link you need to access.... FedEx - News Release And just as predicted, the combined costs of the "Business Realignment Program" combined with the "Aircraft Impairment Charge" have canceled out the operating margin of Express for the 4th quarter - leaving Express with a net of ZERO for the quarter (funny how that accounting worked out...). As I posted over a month ago, Express within the FedEx Corporation [U][I]right now[/I][/U] is seen as just a jobs program until they can implement all the changes they have in store. Then after the dead weight in Memphis is cut loose and all the changes in operations are made (everyone say DRA and no need for experienced Couriers....), Express will start to show profitability again. You can guess what this means for any real pay raise in October. I'll start the betting at a nominal 1% raise just so that Express can say they gave you something. If you get 2% or more, I'll be shocked beyond belief. Oh, don't be shocked when your premium for your health care goes up by an amount that completely takes back any of that pay raise that Fred will give you. If you are a wage employee, you've wasted all this time (well, you have paid your bills, but you are making NO progress towards improving your earning power), and have not done the hard work of really organizing yourselves (working to get those organizers in at least 400 stations). There is NO union out there that will do it for you - you have to do it for yourself. Since you have all made it abundantly clear that you won't go to the efforts to organize yourselves, you had either get the K-Y out or start making real plans on another career (if you are full-time an have made Express a "career" as a wage employee). Things aren't looking too bright for the salaried ops level employees either at this stage. Ground on the other hand, had a final "adjusted" operating margin of 16.7%.... And there are still doubters out there as to the direction that Express is slowly turning towards. Look at Ground, and one will see the future of Express (as far as planned cost structure). Fred can't turn Express into a contract operated game, but he sure as hell can use the same methods he has perfected in Ground, to get Express' "adjusted" operating margin above 10%. [/QUOTE]
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FedEx has just released its fiscal Q4 financial
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