I am new to this site. I've been watching for awhile and came accross this article today on the internet from the Memphis Business Journal... I think it says it all... FedEx Corp. released plans this week to improve profitability by $1.7 billion over the next three years, and investors and analysts have universally applauded the news. Well, almost. Forbes columnist Agustino Fontevecchia writes that FedEx, along with other companies, has managed to perform well throughout the weak recovery by reducing worker hours. Fontevecchia stopped short of calling FedEx greedy but makes the point that FedEx will become more profitable in spite of a slowing global recovery by trimming its payroll "FedEx’s plan shows how the private sector has managed to keep earnings growing despite elevated unemployment. Focusing on FedEx Express and FedEx services, (Founder, CEO and President Fred) Smith and his team will create cost reductions by cutting back on worker hours and replacing equipment to achieve fuel efficiency," Fontevecchia writes. By trimming the fat, big companies like FedEx have managed to improve their profits while sitting on record cash, according to Fontevecchia. He cites a Moody's statistic that showed non-financials held $1.24 trillion in cash at the end of last year, up 3 percent from 2010’s record $1.2 trillion. "Instead of focusing on creating jobs, companies have deleveraged and focused on profitability."