Earnings report

[Aquaman]

Anybody else see the earnings? FedEx seems to be planning on spending that money on everything but us. Should be an interesting fall heading in to peak...

 

[falcon back]

Already worried about something that hasn't happened yet. Why don't you wait till the pay actions are announced before complaining?

 

[bacha29]

Anybody else see the earnings? FedEx seems to be planning on spending that money on everything but us. Should be an interesting fall heading in to peak...

Cap X to be raised from 5.9B to 7.3B in FY 22 Fat Freddy says that it's meant to combat growing shortage of labor. What he does and how well it works..... check back a year from now.

 

[falcon back]

Cap X to be raised from 5.9B to 7.3B in FY 22 Fat Freddy says that it's meant to combat growing shortage of labor. What he does and how well it works..... check back a year from now.

The forum financial idiot has spoken. Too bad your financial knowledge comes straight from cut and paste abilities.

 

[bacha29]

The forum financial idiot has spoken. Too bad your financial knowledge comes straight from cut and paste abilities.

Coming from a guy whose sole financial expertise is his ability to scratch the face off vending machine purchased lottery tickets.... And so bad at it that it took his old lady to pull the right levers to win . And the only thing that compelled her to do that was after several years of pulling Old Falcon Fart's lever and nothing happened she decided to apply her skills someplace where she could at least get a couple of bucks for the effort.

 

[falcon back]

Coming from a guy whose sole financial expertise is his ability to scratch the face off vending machine purchased lottery tickets.... And so bad at it that it took his old lady to pull the right levers to win . And the only thing that compelled her to do that was after several years of pulling Old Falcon Fart's lever and nothing happened she decided to apply her skills someplace where she could at least get a couple of bucks for the effort.

You are correct and I am proud of it. Whatever it takes to get ahead and not break the law is fine with me, You claim to be retired and yet you despise the company that you retired from, and you try to be a financial wiz but everyone knows you don't know your ass from a hole in the ground.

 

[bacha29]

You are correct and I am proud of it. Whatever it takes to get ahead and not break the law is fine with me, You claim to be retired and yet you despise the company that you retired from, and you try to be a financial wiz but everyone knows you don't know your ass from a hole in the ground.

But I know an ass just by reading his comments..... And yours were the easiest I 've ever identified. BTW. Am I a financial wiz? Never said I was. But, simply using what I knew when I started while acquiring new knowledge along the way and continue to do so to this very day, I was able over the course of that endeavor simply by keeping my eyes and ear open turn a $500 initial investment into a 1 million dollar stock portfolio. Am I wealthy from a standpoint of total net worth? Not really. But, what I did I did without the help of a spouses income... or her scratch off ticket lottery winnings.

 

[Aquaman]

Cap X to be raised from 5.9B to 7.3B in FY 22 Fat Freddy says that it's meant to combat growing shortage of labor. What he does and how well it works..... check back a year from now.

They’re spending it on automation. They’ll invest in eliminating jobs. But not paying us better. I’ve never seen a company have such disdain for it’s hourlies.

 

[falcon back]

They’re spending it on automation. They’ll invest in eliminating jobs. But not paying us better. I’ve never seen a company have such disdain for it’s hourlies.

Read a paper every now and then. Automation is here to stay. You act surprised.

 

[Maui]

They’re spending it on automation. They’ll invest in eliminating jobs. But not paying us better. I’ve never seen a company have such disdain for it’s hourlies.

The automation part makes sense. The hubs are a huge bottleneck and they can't get staffing in Memphis even when paying $20/hr. Automation is also needed at FXG sort facilities. Earnings call has 16 new sort centers with a move toward some smaller buildings strategically placed for shorter transport and a large hub in metro LA.

For Express that probably means more LMO as the call specifically mentioned making Express more Express. This should take some burden off Indy and MEM to improve linehaul and remove some P2 stops from the stations. There were a couple mentions about expanded overnight capabilities from Europe to USA. RESPONSE provides that with the CDG-IND flight. Not sure how that fits with moving more to LMO so the future of REPONSE is interesting.

From a pay perspective I'm confident that we will see a step increase. Would be nice if it's more, but the steps represent decent raises and that HAS to get back on track. Even 10 steps is too many, but these are like 5% raises. We also need to see something for RTD to make it more competitive. Freight is starting some people at or near top pay and had a 16% margin this quarter. Express will not attract or retain class A without doing even more than a step and I think the money and priority needs to be used there.

 

[falcon back]

The automation part makes sense. The hubs are a huge bottleneck and they can't get staffing in Memphis even when paying $20/hr. Automation is also needed at FXG sort facilities. Earnings call has 16 new sort centers with a move toward some smaller buildings strategically placed for shorter transport and a large hub in metro LA.

For Express that probably means more LMO as the call specifically mentioned making Express more Express. This should take some burden off Indy and MEM to improve linehaul and remove some P2 stops from the stations. There were a couple mentions about expanded overnight capabilities from Europe to USA. RESPONSE provides that with the CDG-IND flight. Not sure how that fits with moving more to LMO so the future of REPONSE is interesting.

From a pay perspective I'm confident that we will see a step increase. Would be nice if it's more, but the steps represent decent raises and that HAS to get back on track. Even 10 steps is too many, but these are like 5% raises. We also need to see something for RTD to make it more competitive. Freight is starting some people at or near top pay and had a 16% margin this quarter. Express will not attract or retain class A without doing even more than a step and I think the money and priority needs to be used there.

Sure is refreshing to see an employee make a reasonable and knowledgeable post. All the miserable people on here ramble on and most of the time have no idea what they are talking about and bacha wants to throw out numbers like he is Warren Buffett.

 

[59 Dano]

They’re spending it on automation. They’ll invest in eliminating jobs. But not paying us better. I’ve never seen a company have such disdain for it’s hourlies.

You direct resources to the most pressing problems first. In this case it's sort centers, as Maui pointed out.

 

[Stat41]

You direct resources to the most pressing problems first. In this case it's sort centers, as Maui pointed out.

 

[Stat41]

You direct resources to the most pressing problems first. In this case it's sort centers, as Maui pointed out.

Yeah, I think you're right Dano, but Fedex also needs to take care of the employees downstream who are the ones delivering and picking up the packages once the sort centers have been addressed. They really need to announce a robust pay action for those employees and for goodness sake, stick with it this time.

 

[Aquaman]

You direct resources to the most pressing problems first. In this case it's sort centers, as Maui pointed out.

The most pressing problem at this company is pay... the sort centers wouldn’t have problems moving freight if they were fully staffed with employees that felt good about their pay & benefits. You can hire all the people you want, but you’ll never get the equivalent of a 1985 employee that topped out in a couple years, had great health insurance and a traditional pension. That type of work ethic doesn’t come from upbringing. It comes from the company looking out for its employees. The company has grown so big it can’t even see it’s hourlies anymore. They can come up with “response” plans to divert freight, suspend heavyweight customers, use LMO to dump freight to ground, increase automation at the hubs... and nothing will change. They’ll be scratching their head wondering why people are quitting and why the people who stay don’t care if they make deliveries on time. Contrary to popular belief, intelligent people require that their work ethic is bought.

 

[Fred's Myth]

You direct resources to the most pressing problems first. In this case it's sort centers, as Maui pointed out.

Ever heard of putting the cart before the horse??

Hopefully FedEx is planning to completely automate the entire procedure, eliminating all humans (including you) from the process, because they're already accomplishing the latter. And I say hopefully, so that my pension check arrives without interruption.

 

[falcon back]

The most pressing problem at this company is pay... the sort centers wouldn’t have problems moving freight if they were fully staffed with employees that felt good about their pay & benefits. You can hire all the people you want, but you’ll never get the equivalent of a 1985 employee that topped out in a couple years, had great health insurance and a traditional pension. That type of work ethic doesn’t come from upbringing. It comes from the company looking out for its employees. The company has grown so big it can’t even see it’s hourlies anymore. They can come up with “response” plans to divert freight, suspend heavyweight customers, use LMO to dump freight to ground, increase automation at the hubs... and nothing will change. They’ll be scratching their head wondering why people are quitting and why the people who stay don’t care if they make deliveries on time. Contrary to popular belief, intelligent people require that their work ethic is bought.

Do you want better pay?
Do you want a Traditional Pension?
Do you want better insurance?
Do you want to be better appreciated?

Why don't you look on Indeed.com and change jobs. No matter what Fedex does you will never be happy.

 

[NC man]

Ever heard of putting the cart before the horse??

Hopefully FedEx is planning to completely automate the entire procedure, eliminating all humans (including you) from the process, because they're already accomplishing the latter. And I say hopefully, so that my pension check arrives without interruption.

Well we have that little robot thing that goes about 2 mph lol

 

[59 Dano]

The most pressing problem at this company is pay... the sort centers wouldn’t have problems moving freight if they were fully staffed with employees that felt good about their pay & benefits. You can hire all the people you want, but you’ll never get the equivalent of a 1985 employee that topped out in a couple years, had great health insurance and a traditional pension. That type of work ethic doesn’t come from upbringing. It comes from the company looking out for its employees. The company has grown so big it can’t even see it’s hourlies anymore. They can come up with “response” plans to divert freight, suspend heavyweight customers, use LMO to dump freight to ground, increase automation at the hubs... and nothing will change. They’ll be scratching their head wondering why people are quitting and why the people who stay don’t care if they make deliveries on time. Contrary to popular belief, intelligent people require that their work ethic is bought.

They're offering as much as $20 an hour for PT handler jobs. People are making that much (and more) via COVID unemployment programs. It's hard to compete with free money.

 

[Stat41]

They're offering as much as $20 an hour for PT handler jobs. People are making that much (and more) via COVID unemployment programs. It's hard to compete with free money.

Money for nothing, checks for free.