Fred Smith Net Worth of $3.7B

Discussion in 'FedEx Discussions' started by MrFedEx, Apr 26, 2016.

  1. MrFedEx

    MrFedEx Engorged Member

    According to May issue of Forbes, Fred now has a net worth of $3.7 B, after quarterly revenues soared to a record $12.9 B. FedEx stock went up 12% in one day, delivering Smith a 370M personal profit. Please remember this is the man who still hasn't delivered on the "10 Step Plan".

    Just an aside concerning Editor-In-Chief Steve Forbes, who laments in the same May issue that our socialist President is killing the economy. I don't know, Steve, but the elite seem to be doing just fine.

    We absolutely don't need a union to protect ourselves from sharing in any of Fred's prosperity.
     
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  2. Route 66

    Route 66 Flacid Member

    You're welcome, Fred

    (well no, not really)
     
  3. TheJackal

    TheJackal Active Member

    Imagine that, the owner of a company making money.
     
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  4. bacha29

    bacha29 Well-Known Member

    Yes Jackal and I'm sure that Uncle Fred is going to make you one of his heirs and will cut a piece of his estate off for you. I wonder if that 3.7 billion includes his private holding company. Still you do have to feel sorry for the guy being only worth 3.7 billion. After all the Koch brothers are only worth 40 billion each and their company is only the second largest privately owned company in the U.S. Oh, by the way they had to earn it the hard way. They were born into it.
     
  5. Cactus

    Cactus Just telling it like it is

    All that money while the employees who busted their asses to make this happen continue to struggle to make ends meet.

    When was the last time anyone saw a decent profit sharing check? 30 years ago?
     
  6. milb

    milb Respected Member

    Only way you will see those again is to go into managment
     
  7. Cactus

    Cactus Just telling it like it is

    No way.

    I like to be able to sleep at night.
     
  8. MrFedEx

    MrFedEx Engorged Member

    Yes, lots of money. We've been told for years that the company is just scraping by, that we can't afford decent raises etc. I guess you feel our "industry leading wages and benefits" are great.

    That would make you clueless.
     
  9. MrFedEx

    MrFedEx Engorged Member

    In the old days when real profit sharing existed, the payouts were substantial and definitely a motivator. The piss-poor excused we have for "profit sharing" now are based on us working harder, not the profits of the corporation.
     
  10. bacha29

    bacha29 Well-Known Member

    It is indeed sad to see how that company has fallen to just another greedy Fortune 500 company whose clear intent is to fulfill it's greedy aspirations on the backs of it's blue collar working class employees. Whatever values or principles it at one time did have went among the missing years ago. The difference is that it could maintain the public perception that those values and principles existed long after they were gone. Now they can no longer do that and I say ,good.
     
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  11. slowdriver

    slowdriver Member

    Cutting costs to the point of swapping the normal toilet paper dispensers out for one's that only allow one sheet at a time.. The new American business model, cut your way to "growth"...
     
  12. rickyb

    rickyb Well-Known Member

    keep in mind whos rich, and whos poor. and then ask yourself who does this system really serve?
     
  13. Route 66

    Route 66 Flacid Member

    The joke's on them. The additional non-productive time spent in the john fishing out those elusive sheets more than offsets any savings realized by their cheapness.