MrFedEx
Engorged Member
Let me look up the years. Most of the 80's and 90's.
Performance Review
- Thread starter Feddy
- Start date
Let me look up the years. Most of the 80's and 90's.
MrFedEx
Engorged Member
The last time FedEx Express hit a 10% (double digit) operating margin was May, 2006. There aren't any hard numbers available easily year by year, but I'll get something. By the way, flying your freight around via jet will never equal the profit margin of having Igor and Bubba drive it there in a truck. Just a simple operating cost kind of thing. You get that, right?
yes, MFE, I get that. But this is your quote. And I don't think such numbers arebhard to come up with. Companies have been filing such reports quarterly for a long, long time.
MrFedEx
Engorged Member
Wait longer.
Cactus
Just telling it like it is
You sure don't have much to do, do you? I suppose you push it all off on the hired hands.
that is why I hired them, so yes.
CJinx
Well-Known Member
As long as you pledge not to be surprised when we get our raises on time.
We would have heard something by now if they intended to defer Ground employee raises.
MrFedEx
Engorged Member
I spent my lunch hour searching. Still looking for results mainly from the 80's and 90's. If anyone has better luck than me, please let me know and provide the link. Suffice it to say, that Federal Express was very profitable for many years.
MAKAVELI
Well-Known Member
Management didn't inform us until a week before we were due our raise. Nothing surprises me as I have lost faith in this company a long, long time ago to do the right thing. Here is a clue , have they told you specifics about a raise yet? If not maybe you should ask your manager. They have a tendency to not communicate these issues until the last minute.
But not double digit, right? Talking out your rear again? We're all friends here, you can say it. You got caught up in your anti Fred exuberance and made claims that are just demonstrably false.
Google FedEx Investor Relations Financial History and you'll pull up annual reports dating back to 1998. From the looks of it profits were in the 3%-5% range. I doubt there was 10%+ annual profits as they spent alot building infrastructure and buying up companies.
MrFedEx
Engorged Member
Nope. I will get the figures. They are not as readily available as you believe. The 10% from May, 2006 is the last I have been able to verify, but profits in the 80's and most of the 90's were very good.
Aren't the raises for Ground & HD set by the individual contractor? and where is this big fat raise coming from? Is it like those so called 'discounts' that are available to ground & HD employees, contractors? but checking Mygroundbiz no such discounts are mentioned.. Fedex giving big fat raises to the ground & HD contractors? is that real or a fantasy? A business isn't a charity, if I don't get any more (which I am not), the drivers sure as hell are not.. everyone gets paid $650 - $900 a week which is the high end of the range...
But in the 80s and 90's, Express was still a great place to work, right? It has only been since profits were down and Fred found a more profitable model that Express couriers have experienced the takeaways. Keep looking for those double digit profits though. Grounds double digit profits seem to be posted every quarter. I don't know why the Express number is so hard to find.
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They've been taking things away from us since the mid-90's, and in the 80's and 90's the quality of life at FedEx depended very much on your mgr and most were jerks. Plus back then we were the ones driving big stepvans full of freight plus everything else we had to know. There was never some utopian workplace, it was always difficult with pressure put on us to perform. Pay was always suppressed with topped out couriers not getting raises for 4.5 years. FedEx in the 80's paid well for the times, but I don't recall us ever making what UPS did. It was just the window dressing the company put on everything, emphasizing how much they cared and if we stuck with them we'd have a solid future. Didn't turn out that way, but it didn't go bad all of a sudden, it was the proverbial slow boil of the frog in the pan. In all honesty you have it better than I ever did, but back when medical was completely paid by the company, when I had a traditional pension, and made enough that I could take road trips on vacation or jumpseat on company planes I thought there was certainly worse things I could be doing for a living, and that all the running was worth it.
MrFedEx
Engorged Member
Thanks, Mr. Joel. As vantexan said, it was never a walk in the park even when times were good. Profits were high, but Fred decided he wanted them higher, and the takeaways kept coming. That's what we find objectionable.
Your welcome. I never suggested that profits weren't high, simply that they weren't the double digit homerun that you continue to insist that they were. And even you have to admit that you and others have spent countless posts describing the slow but certain decline of the courier position. In Goldi's case, it took several months here to finally see it.
