Heard FedEx was WSJ most likely to fail in 2009. Anyone else heard about this. Trying to find out if it's true. Also heard if they fail that would make UPS a Monopoly and they would break UPS like they did Pacific bell. If anyone have any links about it thx
Okay, I'll bite, what's WSJ. Thought they were taking over a radio station.
Wall Street Journal I believe
EDIT: Damn, scratch just beat me to it haha
I don't know about the WSJ, but FedEx is having cash flow problems. Look at the changes they made. They all improve their cash flow position.
The big thing for FedEx will be whether their ground drivers are categorized as employees or contractors. If they are made employees, the additional cost will GREATLY impact their profitability.
They would then have to raise rates and no longer be able to win contracts based on price.
Right now FedEx is winning about 1/2 of the DHL volume. This is more than UPS thought it would be.
P-Man
A feeder driver told me he read it on wall street journal newspaper tue or wed.
Heard FedEx was WSJ most likely to fail in 2009. Anyone else heard about this. Trying to find out if it's true. Also heard if they fail that would make UPS a Monopoly and they would break UPS like they did Pacific bell. If anyone have any links about it thx
We'd see a good increase of volume if they raise their rates
Heard FedEx was WSJ most likely to fail in 2009. Anyone else heard about this.
It sounds like an erroneous rumor. I have not seen or heard of a WSJ article along these lines, and it's not in the FedEx grapevine either. FedEx is still profitable, but they are making substantial cuts, with the exception of the big shots in Memphis, who still make some serious coin, but took token reductions to make the package monkeys like me feel their "pain".
As of today, all coffee and bottled water services are to be eliminated at all locations, nobody is supposed to go over 40 hrs, uniform purchase accounts have been frozen, and on and on.
FedEx Freight just laid-off 900 people, and Express is closing 4 undisclosed (so far) Call Centers. Supposedly, nobody is being laid-off, and the agents will work from home via an uplink. Another major announcement is on the way February 12th, which may mean layoffs, or it might just be the official confirmation that the Call Centers are closing.
We just lost LL Bean, so I'm assuming it went to UPS and not the USPS, but I have not heard any official word on that either.
Bad times, and getting worse, but we're not going bankrupt...yet.
As of today, all coffee and bottled water services are to be eliminated at all locations, nobody is supposed to go over 40 hrs, uniform purchase accounts have been frozen, and on and on.