What do you have to tell me?
I think all the words have been spoken. FedEx has a situation.
Neither contractors nor investors are happy. Wall Street has all but laughed off the “global recession” as an excuse for poor performance.
Cutting back on unnecessary capex feels mind-blowingly late. FedEx seems intent on going forward with “schedule L” which is a money grab from contractors in the guise of a safety program.
Contractors can’t seem to find drivers for the regular year let alone peak season.
So we remain where we were months ago. Contractors continuing to fail and the company attempting to telling Wall Street that everything is fine.
Oh. And there’s that bit about FedEx suing Patton. A move that I continue to believe was asinine, sophomoric, and will have serious repercussions for the company.
Overall I’d say there’s an overwhelming sense of disgust with the company coupled with a huge DGAF attitude of people just going through the motions.