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Not topped out record Express
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<blockquote data-quote="vantexan" data-source="post: 5590469" data-attributes="member: 24302"><p>I've seen the numbers. FedEx Express pays over half its gross on payroll. 25% on fuel. Out of the rest they cover aircraft, trucks, rent, building maintenance, uniforms, etc. What's leftover is gross profits and after paying the taxes on that they pay dividends to shareholders and use the rest for expanding their business. That after tax profit has ranged from $2 billion in very good years to less than $100 million in lean years. The year I looked at the numbers they grossed $52 billion and over half was payroll. It's considerably more now but their number of employees has greatly expanded too. Please tell me how with those kind of numbers they are going to give $40hr or more after 3 or 4 years? With company paid healthcare for not only the employee but his family too? And a pension of $50k or more? You guys have unrealistic expectations but that won't stop some here from accusing me of being a corporate apologist. FedEx is a private company. They can't print money. Nor can they pass all the extra cost onto customers in a competitive market. It's exactly why they started Ground. The cost to them per package is much, much less than at Express which makes Ground freight much more profitable. Ground is an UPS type operation but to their shame FedEx has structured it in such a way to keep unions out and Ground employees wage slaves. And their contractors justify it as these are just entry level jobs and the drivers don't deserve anymore. So please focus your anger on where it's due. FedEx could pay better at Express, but nowhere near what many employees think they can. They could pay a lot better at Ground, but they want those profits for themselves and they are aided and abetted by contractor managers who don't care about driver pay as long as they get theirs.</p></blockquote><p></p>
[QUOTE="vantexan, post: 5590469, member: 24302"] I've seen the numbers. FedEx Express pays over half its gross on payroll. 25% on fuel. Out of the rest they cover aircraft, trucks, rent, building maintenance, uniforms, etc. What's leftover is gross profits and after paying the taxes on that they pay dividends to shareholders and use the rest for expanding their business. That after tax profit has ranged from $2 billion in very good years to less than $100 million in lean years. The year I looked at the numbers they grossed $52 billion and over half was payroll. It's considerably more now but their number of employees has greatly expanded too. Please tell me how with those kind of numbers they are going to give $40hr or more after 3 or 4 years? With company paid healthcare for not only the employee but his family too? And a pension of $50k or more? You guys have unrealistic expectations but that won't stop some here from accusing me of being a corporate apologist. FedEx is a private company. They can't print money. Nor can they pass all the extra cost onto customers in a competitive market. It's exactly why they started Ground. The cost to them per package is much, much less than at Express which makes Ground freight much more profitable. Ground is an UPS type operation but to their shame FedEx has structured it in such a way to keep unions out and Ground employees wage slaves. And their contractors justify it as these are just entry level jobs and the drivers don't deserve anymore. So please focus your anger on where it's due. FedEx could pay better at Express, but nowhere near what many employees think they can. They could pay a lot better at Ground, but they want those profits for themselves and they are aided and abetted by contractor managers who don't care about driver pay as long as they get theirs. [/QUOTE]
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