davidshaner100
Member
To All FedEx Employees:
Enough is enough! Despite what FedEx's Management team would have you believe, FedEx is raking in money, a lot of money. It's stock is trading at all-time highs, its officers and directors continue to receive sky high, annual six-figure bonuses in the form of Long Term Incentive (LTI) payments which have been paying at 150% of plan over the last two years! All at a time when the company has been screwing us in every way possible.(More on this later).
It's no secret that a good portion of our Management's compensation comes in the form of stock options. When the stock rises, so do our Officer's and Director's wallets. In order to fatten their wallets and appease Wall Street, FedEx recently announced a massive stock buyback of 32 million shares - an amount equal to over $4 BILLION in stock at today's record highs.
That's right - $4 billion dollars. So instead of investing in it's employees with competitive wages and benefits, our greedy, out of touch bloated officers chose to reward sharholders and themselves! Just think how much the hundreds of thousands of stock options they received with low strike prices
are worth today.Hopefully everyone sees what is going on. Every time FedEx sticks you in the arse with a new benefit cut, wage freeze, below market rates, your fearless leaders re looking for these actions to help bump the stock and their options.
What makes this even more appaling is that your Officers are doing this at a time when the few benefits we do have are being taken away or watered down. Just think about what has been taken away from you over the last 10 years - a real defined pension plan, decent health care insurance, market wages, shift premiums, jump seating, merit based pay programs. This is just a small sampling. Nothing is off limits and sadly we have no protection from future management benefit grabs.
The latest scewing is the catastrophic health care plan the company is trying to sell you. As many of you have astutely pointed out on this forum, the plan is junk. plain and simple. You are being asked to pay more each month and absorb a deductible which has quadrupled over the last several years. Anyone who needs health care that isn't preventive is going to pay dearly with the high deductible and new co-insurance scheme. These plans are horrible for folks with chronic conditions and limited means - the data is out there, please read for yourself. This health plan is going to cost folks a lot of money and will unfortunately cause many to go without care. Very sad given that the company is going to save enormous amounts of money with this plan. Don't let anyone tell you Obamacare is to blame. It's not - just ask your pilots or the hundreds of thousands of UPS Teamsters who will again enjoy 5 more years of superior health benefits, pay and retirement benefits.
As another record peak approaches, it is time for all of us to think collectively. This company needs you more than you think - look no further than your pilots and UPS peers. A small group of us have begun speaking to several organizations (both political and non-political) in Washington D.C. about what is happening here and helping them understand what a sham the RLA coverage deal was given all the things Express is doing with Ground. Needless to say, many of these groups are very interested in this situation and want to help. Contrary to what many have said on this medium, the IBT is still in play; as are the IAM and UAW. All have different thoughts and plans which they are considering. I spoke with two national organizers from the UAW recently who were in MEM while driving between to campaigns they have in Jackson, MS and Chattanooga. They have a lot of good ideas which seem appropriate for what we have been experiencing.
These groups will need our help if we want to get some much needed protection here. I am not at liberty to discuss this any further given the company lurkers and schills who troll and report on this site. I encourage everyone to establish dialog with management in your respective facility. Ask your managers the tough questions about healthcare, the stock buyback, below market pay rates, management bonuses and stock options. Make them squirm. They deserve it.
In the meantime, please write or call the Chairman and let him know that things aren't as rosy as his website and magazine would suggest.
More to come.........
Enough is enough! Despite what FedEx's Management team would have you believe, FedEx is raking in money, a lot of money. It's stock is trading at all-time highs, its officers and directors continue to receive sky high, annual six-figure bonuses in the form of Long Term Incentive (LTI) payments which have been paying at 150% of plan over the last two years! All at a time when the company has been screwing us in every way possible.(More on this later).
It's no secret that a good portion of our Management's compensation comes in the form of stock options. When the stock rises, so do our Officer's and Director's wallets. In order to fatten their wallets and appease Wall Street, FedEx recently announced a massive stock buyback of 32 million shares - an amount equal to over $4 BILLION in stock at today's record highs.
That's right - $4 billion dollars. So instead of investing in it's employees with competitive wages and benefits, our greedy, out of touch bloated officers chose to reward sharholders and themselves! Just think how much the hundreds of thousands of stock options they received with low strike prices
are worth today.Hopefully everyone sees what is going on. Every time FedEx sticks you in the arse with a new benefit cut, wage freeze, below market rates, your fearless leaders re looking for these actions to help bump the stock and their options.
What makes this even more appaling is that your Officers are doing this at a time when the few benefits we do have are being taken away or watered down. Just think about what has been taken away from you over the last 10 years - a real defined pension plan, decent health care insurance, market wages, shift premiums, jump seating, merit based pay programs. This is just a small sampling. Nothing is off limits and sadly we have no protection from future management benefit grabs.
The latest scewing is the catastrophic health care plan the company is trying to sell you. As many of you have astutely pointed out on this forum, the plan is junk. plain and simple. You are being asked to pay more each month and absorb a deductible which has quadrupled over the last several years. Anyone who needs health care that isn't preventive is going to pay dearly with the high deductible and new co-insurance scheme. These plans are horrible for folks with chronic conditions and limited means - the data is out there, please read for yourself. This health plan is going to cost folks a lot of money and will unfortunately cause many to go without care. Very sad given that the company is going to save enormous amounts of money with this plan. Don't let anyone tell you Obamacare is to blame. It's not - just ask your pilots or the hundreds of thousands of UPS Teamsters who will again enjoy 5 more years of superior health benefits, pay and retirement benefits.
As another record peak approaches, it is time for all of us to think collectively. This company needs you more than you think - look no further than your pilots and UPS peers. A small group of us have begun speaking to several organizations (both political and non-political) in Washington D.C. about what is happening here and helping them understand what a sham the RLA coverage deal was given all the things Express is doing with Ground. Needless to say, many of these groups are very interested in this situation and want to help. Contrary to what many have said on this medium, the IBT is still in play; as are the IAM and UAW. All have different thoughts and plans which they are considering. I spoke with two national organizers from the UAW recently who were in MEM while driving between to campaigns they have in Jackson, MS and Chattanooga. They have a lot of good ideas which seem appropriate for what we have been experiencing.
These groups will need our help if we want to get some much needed protection here. I am not at liberty to discuss this any further given the company lurkers and schills who troll and report on this site. I encourage everyone to establish dialog with management in your respective facility. Ask your managers the tough questions about healthcare, the stock buyback, below market pay rates, management bonuses and stock options. Make them squirm. They deserve it.
In the meantime, please write or call the Chairman and let him know that things aren't as rosy as his website and magazine would suggest.
More to come.........
