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Fred S, Liar in Chief
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<blockquote data-quote="vantexan" data-source="post: 4219657" data-attributes="member: 24302"><p>He's never told us everything? You do realize that companies are under strict reporting guidelines? They aren't hiding tons of money. That's the role of accountants, to report everything to the government for tax purposes. Even if Fred had a secret slush fund it would have to be small in comparison to revenue, otherwise red flags would be raised. Fred and his execs make plenty without resorting to trying to get one over on government auditors.</p><p></p><p>You have to understand the symbiotic relationship between corporations and Wall Street. The corporations pay dividends every quarter. The big funds buy a lot of stock before the payout to get the dividend. The demand drives up the stock price. Corporate executives then exercise their stock options to take advantage of the higher price. Take away the dividend and Wall Street looks elsewhere.</p><p></p><p>And dividends are just a part of the overall profit. If a company grosses $60 billion, pays close to $30 Billion on payroll, and after all expenses has how much profit, 3 billion, 4? How is that going to pay UPS type wages and benefits? UPS can pay that because their overall expenses are much less than FedEx due to trucking most of their freight. It's why FedEx got into the Ground business to begin with. Unless FedEx operates entirely like UPS they just aren't going to be able to pay as much. The only real choice a FedEx courier has is to go into management or find another job that pays better, or stay as a FedEx courier. Which to me is paying decent these days IF the company sticks to the pay plan. Taking from the couriers because they want to keep Wall Street happy with the profits after THEY made a mistake buying TNT is unacceptable. But they hold all the cards so what can couriers do?</p></blockquote><p></p>
[QUOTE="vantexan, post: 4219657, member: 24302"] He's never told us everything? You do realize that companies are under strict reporting guidelines? They aren't hiding tons of money. That's the role of accountants, to report everything to the government for tax purposes. Even if Fred had a secret slush fund it would have to be small in comparison to revenue, otherwise red flags would be raised. Fred and his execs make plenty without resorting to trying to get one over on government auditors. You have to understand the symbiotic relationship between corporations and Wall Street. The corporations pay dividends every quarter. The big funds buy a lot of stock before the payout to get the dividend. The demand drives up the stock price. Corporate executives then exercise their stock options to take advantage of the higher price. Take away the dividend and Wall Street looks elsewhere. And dividends are just a part of the overall profit. If a company grosses $60 billion, pays close to $30 Billion on payroll, and after all expenses has how much profit, 3 billion, 4? How is that going to pay UPS type wages and benefits? UPS can pay that because their overall expenses are much less than FedEx due to trucking most of their freight. It's why FedEx got into the Ground business to begin with. Unless FedEx operates entirely like UPS they just aren't going to be able to pay as much. The only real choice a FedEx courier has is to go into management or find another job that pays better, or stay as a FedEx courier. Which to me is paying decent these days IF the company sticks to the pay plan. Taking from the couriers because they want to keep Wall Street happy with the profits after THEY made a mistake buying TNT is unacceptable. But they hold all the cards so what can couriers do? [/QUOTE]
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