FedEx chief says U.S. is not in a recession

Discussion in 'The Latest FedEx Headlines' started by cheryl, Jul 22, 2008.

  1. cheryl

    cheryl I started this. Staff Member

    FedEx chief says U.S. is not in a recession - Asbury Park Press

    FedEx Corp. Chief Executive Officer Fred Smith said the U.S. economy isn't in a recession and that oil prices will "drift down for a while.''

    "I don't think we're in a recession,'' Smith, 63, said today in a Bloomberg Television interview from FedEx's headquarters in Memphis, Tenn. "We're in a period of extremely low growth brought on by high fuel prices and the financial meltdown.''
  2. paidslave

    paidslave New Member

    He might be right. Oil prices will continue to skid because the bubble has bursted. Just like, The dot.coms, stock market, all the indexes, gold, sky rocketing house marked tanked, beany babies ect. ect.

    Hang in there folks! This oil market will tank before you know it. Happened in the 70's and it is gonna happen again.. History quite often repeats itself! Besides, Who needs gas if the whole country is laying off people? ?

    The market is driven on fear, kinda like your part-time sup hands out when you are a rookie...until you realize what a numbskull he is:happy-very:
  3. MrFedEx

    MrFedEx Engorged Member

    Sounds like Fred is drinking his own Kool-Aid these days. We're not in a recession? How come FedEx Express volume is down to 1998 levels? Did that just happen for no reason? Perhaps Fred should investigate a little deeper and ask an executive in the auto industry if things are going well. Or maybe someone in real estate sales. I could list dozens of other types of business that are not exactly gushing money these days.

    As usual, Smith is out of touch, just like his Yale buddy in the White House, who also doesn't think we're in a recession. At least one of them will be gone by January.