Released to whom? During the Q-1 conference call a couple of weeks back Fred stated that "you will be surprised by the magnitude of change". He said the announcement will be made at the investors conference
October 9th and 10th. He also stated (for what its worth) that "No draconian measures will be taken". Bronczek, Rebholz, and Graf were not upbeat at all. I would describe them as depressed.
They will be switching lower yielding product to less expensive carriers (XS to ground). They're delaying 777s deliveries and accelerating 767 deliveries. They're finding companies in China are switching to ocean cargo ships and are not using FEDEX Express. China used to be a cash cow for FedEx Express. Not so much anymore. FEDEX is paying a little over 3 bucks a gallon for JET-A. (That's hard to believe). Anyway, the 10-Q shows some very disturbing pkg. volume and yield numbers. At least for the express component.
Remember, all top dog, alpha male big shots are always trying to prop up the stock price (Share holder value). That goes for almost all corporations. When they can't do it through growth.... it will come through CUTS.
P.S.P. (P)eople are (S)econdary to (P)rofit...
