FedEx is ordering 4 more Boeing 767's and deferring 2 777's, as Fred tries to modernize his fleet. May I remind you that UPS made the intial order for the B767 Freighter in January of 1993, almost 20 years ago. This is how far behind the curve FedEx is relative to keeping up with the neighbors next door. I would call this failure to recognize and modernize a gross lack of leadership. I picked-up a copy of an airline industry magazine recently that showed dozens of FedEx aircraft parked in the desert, never to fly again. The pictures showed numerous Airbus A310's and Douglas DC10's, along with a long row of 727's. These are mostly aircraft that FedEx continued to buy, convert from PAX to cargo, and then abandon after a much shorter than normal service life. Kind of like buying a new car, driving it for 3 years, and then leaving it out in the back pasture to rust away. Smart...very smart. Oh, and the clause requiring that FedEx continue to have it's employees be covered under the Railway Labor Act is still in effect for 9 of the 777's on order. Just a reminder of the extent to which Fred will go to keep you underpaid and under his absolute control.