FedEx on WSJ

MrFedEx

Engorged Member
I also heard no one wants to lend FedEx any money and yes FedEx is making money but they pay a lot of interest on loans they had. UPS pays no interest on purchases because it has no debt.

Could be. I know that UPS has vast cash reserves that we don't but FedEx is still a solid company run by very conservative management. Just ask anyone who works there how tight they are with their money. If Fred dropped a penny down the sewer he'd probably break down and cry. If you're familiar with Spongebob Squarepants, Fred is a lot like Mr Krabs. On the other hand, he's a lot like Patrick Star as well. Anyway, he's cheap.
 

UnconTROLLed

perfection
IDK, wed have no reason to beyond well they did too....forever weve charged more because our service is better because we compensate our employees better which are labor costs.....im not saying we shouldnt be paid more but we could undercut fedex for once and still keep our standard of service.


No way that is going to happen. If UPS's service is better and more reliable, we will charge more. period
 

filthpig

Well-Known Member
I live in Memphis and know a lot of FedEx people. None of them have said anything about the company failing. Not gonna happen. FedEx may have some problems, but they're still making money (profit). They do have more debt than we do, but like I said , they're still profitable. They're a strong company with good management. They'll be just fine.
 

UPS Lifer

Well-Known Member
A feeder driver told me he read it on wall street journal newspaper tue or wed.

You got punked! If there was an article and it was true it would be all over the news and FDX stock would be plummeting.

Asked the feeder driver to produce the article for you ... see what BS he comes up with! LOL!
 

BleedBrown

Active Member
It sounds like an erroneous rumor. I have not seen or heard of a WSJ article along these lines, and it's not in the FedEx grapevine either. FedEx is still profitable, but they are making substantial cuts, with the exception of the big shots in Memphis, who still make some serious coin, but took token reductions to make the package monkeys like me feel their "pain".

As of today, all coffee and bottled water services are to be eliminated at all locations, nobody is supposed to go over 40 hrs, uniform purchase accounts have been frozen, and on and on.

FedEx Freight just laid-off 900 people, and Express is closing 4 undisclosed (so far) Call Centers. Supposedly, nobody is being laid-off, and the agents will work from home via an uplink. Another major announcement is on the way February 12th, which may mean layoffs, or it might just be the official confirmation that the Call Centers are closing.

We just lost LL Bean, so I'm assuming it went to UPS and not the USPS, but I have not heard any official word on that either.

Bad times, and getting worse, but we're not going bankrupt...yet.
You are correct MrFedEx on LL Bean

The move, effective Feb. 23, follows a lengthy evaluation process. UPS will provide both ground and air service to deliver the orders of L.L.Bean customers shopping through the famed retailer's catalogs as well as online.
 

drewed

Shankman
I think a link to the article would be helpful....

But if this was published on the WSJ its probably assuming fedex will continue to lose its lawsuits about the employee vs contractor arguement which could lead to a couple hundred million dollars lost and on the assumption that the bill allowing different groups to unionize will pass, greatly increasing fedex's cost to do business (and for the most part completely change their business model)
 

MobileBA

Well-Known Member
FedEx should be more concerned they have 3 laborers canvassing the same areas to UPS's one, two more sort facilities, more management....blah..blah...anyways the Union is really their least concern now.
 

skir

Los Angeles CA
You got punked! If there was an article and it was true it would be all over the news and FDX stock would be plummeting.

Asked the feeder driver to produce the article for you ... see what BS he comes up with! LOL!

dam you Ashton Kutcher you got me LOL
 

barnyard

KTM rider
The biggest problem that Fed Ex has near term is getting more money and refinancing any debt that comes to term. If the lawsuits keep going against Fred, he is going to have to borrow a ton of money to pay off the IRS, let alone back wages.

They may be fine at this moment in time, but I could see a day where they are truly effed.

TB
 
P

pickup

Guest
The biggest problem that Fed Ex has near term is getting more money and refinancing any debt that comes to term. If the lawsuits keep going against Fred, he is going to have to borrow a ton of money to pay off the IRS, let alone back wages.

They may be fine at this moment in time, but I could see a day where they are truly effed.

TB

I think what will happen will be somewhat akin what a protection racket does. If things advance against him. 200 pounds of money (as opposed to a ton) will be distributed to the coffers(whether to reelection funds or under the table payments) of the appropriate politicians to ameliorate the impact against him, i.e. no retroactive payments on the time this independent contractor business has been going on but still an adverse action against his current model. Just my cynical view
 
FedEx should be more concerned they have 3 laborers canvassing the same areas to UPS's one, two more sort facilities, more management....blah..blah...anyways the Union is really their least concern now.

4 laborers (freight,express,gound,home)
2 (freight,package)
I disagree, the unionaziontion of Fed-Ex will pull them way down. Imagine if the Fed-Ex employees we're paid our wages, their payroll would go up by at least 1/3. I imagine the Teamsters contract would model ours.
If the union were to get just one segment to unionize, the rest would surely follow.
That's my opinion...but I may be wrong!
 

drewed

Shankman
4 laborers (freight,express,gound,home)
2 (freight,package)
I disagree, the unionaziontion of Fed-Ex will pull them way down. Imagine if the Fed-Ex employees we're paid our wages, their payroll would go up by at least 1/3. I imagine the Teamsters contract would model ours.
If the union were to get just one segment to unionize, the rest would surely follow.
That's my opinion...but I may be wrong!

Not only salary on payroll, but insurance, all the money for the gas, insurance, and the vehicles themselves, theyll lose a ton of money in short order plus all the backwages for the years...
 
Not only salary on payroll, but insurance, all the money for the gas, insurance, and the vehicles themselves, theyll lose a ton of money in short order plus all the backwages for the years...

Yep....there goes those profits.....maybe WSJ figures Obama (the pro-union pres.) will make the unionization happen.
 

stevetheupsguy

sʇǝʌǝʇɥǝndsƃnʎ
Funny thing about this thread. I kept getting asked, all day long mind you, about a WSJ report that came out about UPS. Random customers would come up to me and ask about the report.
 

MrFedEx

Engorged Member
Yep....there goes those profits.....maybe WSJ figures Obama (the pro-union pres.) will make the unionization happen.


The passage of the EFCA and the end of FedEx Express being classified under the RLA may be a major factor. If we do unionize, Fred will finally have to start paying some decent wages and sweeten the benefit pkg, which is lousy. But, knowing the way Fred works, he'll just lay-off a lot of employees to make up the difference. If you work there, you know that nothing is ever given without something being taken away in return. It's always been that way. A 3% raise will be offset by increased insurance contributions, less hours,etc.

As far as FedEx Ground goes, it's pretty much a foregone conclusion that FedEx is going to have to pay-out some major dollars. The PR machine keeps spitting-out garbage about the validity of the independent contractor model, but it's a lost cause, and Wall Street knows it.

And for that person who lives in Memphis, I'm sorry too. What a dump.
 
Top