Enough is Enough (A must Read)

Discussion in 'FedEx Discussions' started by davidshaner100, Oct 24, 2013.

  1. davidshaner100

    davidshaner100 New Member

    To FedEx Express employees:

    Enough is enough! Despiite what FedEx's Management 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 ro 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 that 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 competitiive wages and benefits, our greedy, out of touch 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 now worth.

    What makes this even more appaling is that your Officers are doing this at a time when everyhing is 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 power 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 care 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 unfotunately 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 reirement 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. 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. We spoke with the UAW are were very impressed with some of the things they want to do. i am not at liberty to discuss this any further given the company lurkers and shills who troll and report on this site daily. I encourage everyone to establish dialog with management in your respective facility. Ask your managers the tough questions about our joke of a health care plan, market rates, etc. -make them squirm.

    In the meantime, Contact Fred Smith's office to express your disgust with how FedEx is fleecing its enployees while lining its pockets.

    More to come ...
  2. Route 66

    Route 66 Bent Member

    Welcome davidshaner!
  3. Mr. 7

    Mr. 7 The monkey on the left.

    Glad to listen to what you have to say.
  4. STFXG

    STFXG Well-Known Member

    You should attend some of the super secret union organizing meetings going on all around the country.
  5. hypo hanna

    hypo hanna Well-Known Member

    Welcome to BC David.
  6. MrFedEx

    MrFedEx Engorged Member

    Welcome. I still cannot get the IBT to respond to me....what is your secret? I've contacted both the local and the national, and consistently receive the brush-off. Contacting Fred's office is a waste of time. As you mention in your post, the pilots has it right, because they know Smith will only negotiate when forced to do so.
  7. Cactus

    Cactus Just telling it like it is

    Screw the IBT. Personally I've had enough of their wimping out every time there's a hiccup in their way. I want a union but I want one that works for us. The IBT under Hoffa's lack of leadership is a joke. We don't need him in bed with Smith which may already be happening anyway.
  8. Mr. 7

    Mr. 7 The monkey on the left.

    Maybe you should STFU.
  9. STFXG

    STFXG Well-Known Member

    Am I not supposed to talk about them? Maybe that's the problem. They are TOO secret!
  10. vantexan

    vantexan Well-Known Member

    The problem with Obamacare is that it requires companies to provide insurance that gives at least 60% coverage. And companies like FedEx are taking full advantage. FedEx can point to it's 70% coverage and say it's better than the minimum Federal requirement. And as long as one works for a company with minimum required coverage, one can't get a subsidy to reduce the cost of buying on the exchange. The Obama administration could have required better coverage but didn't. Lots of blame to go around. And it won't cause many to go without care because in 2016 the penalty is $695 or 2.5% of gross income, whichever is higher. If you gross $45k that's $1125 with a maximum penalty per family of a little over $2000. You might as well have the insurance. And buying on the exchange will cost you even more than what FedEx is charging. The only people benefitting from Obamacare are the very poor who'll get subsidized to have insurance they couldn't afford before.
    Last edited: Oct 24, 2013
  11. HomeDelivery

    HomeDelivery Well-Known Member

    when i first registered here, i was seeing that they're trying to bring express down to Ground/HD levels... R1 tried to help open their eyes, but a little too late ~ looks like they're winning :knockedout: good luck to those behind-the-scenes in trying to fight back

    i already know how to WAD while staying under-the-radar...

    MAKAVELI Well-Known Member

    Nothing in Obamacare states companies have to lower coverage. And the excuse of the Cadillac tax is bs. Our plan was nowhere near that criteria. FedEx is pfofiting from this self insured scam and Obamacare is not the cause but rather the scape goat.
  13. vantexan

    vantexan Well-Known Member

    Please read what I wrote again. Obamacare doesn't force companies to lower coverage. All it does is require companies to have at least 60% coverage to qualify as an approved plan. Companies are taking full advantage. Obamacare could have mandated a higher percentage of coverage, it doesn't. People thought they were going to get a subsidy if they wanted to buy better coverage on the exchange. If they are working for a company with a qualified plan then they won't get a subsidy, and the better plans on the exchange are considerably more expensive. And don't bet FedEx will drop coverage altogether to force everyone to the exchanges. They'll have to pay a $2000 per employee annual penalty if they do. And many companies aren't big multinational conglomerates who can give insurance. Hundreds of thousands are losing their jobs because companies are closing because they can't afford to provide healthcare. And many others are being forced into part-time so that companies can stay solvent. Contrary to the belief of some there isn't endless money to pay for everything workers want and Obamacare has real world negative consequences for many.

    MAKAVELI Well-Known Member

    More propaganda with no facts. There was nothing stopping corporations from lowering coverage before Obamacare.
  15. vantexan

    vantexan Well-Known Member

    Before Obamacare companies offered healthcare to stay competitive for workers. But due to ever increasing medical costs the quality of coverage was eroding. Now that universal coverage is mandated it's no longer necessary to provide better coverage to attract workers. Healthcare was never a right of workers but a benefit to attract employees and in the case of physical jobs like a courier necessary to keep employees. Now that everyone will be covered companies are free to reduce their costs. You won't hear this on FOX News, I'm just pointing out the obvious. And Obamacare HAS already caused hundreds of thousands to be laid off from small companies that can't afford the coverage. Sorry if you don't like the truth, it is what it is.

    MAKAVELI Well-Known Member

    You call it truth, I call it propaganda with no facts. Exactly what companies have had massive layoffs because of Obamacare?
  17. CJinx

    CJinx Well-Known Member

    Problem with regulating business in any way is that they'll usually only do the bare minimum and pass the costs off to their customers.

    MAKAVELI Well-Known Member

    Wrong, the obsession corporate America has with attaining wealth is the reason business does the bare minimum. No rules= China., India, etc.
  19. vantexan

    vantexan Well-Known Member

    ‚ÄčThe point is that Corporate America doesn't really pay taxes, etc because they pass the cost to their customer. However if you raise their costs enough they'll have to absorb some of it which puts a real crimp on hiring and the economy.
  20. vantexan

    vantexan Well-Known Member

    Google layoffs due to Obamacare and see for yourself. And that's just the start as the business mandate has been pushed back a year.