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Pathetic Purple FPP Payout
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<blockquote data-quote="vantexan" data-source="post: 693248" data-attributes="member: 24302"><p>OK, I'll take that. Still, I'm making $16.75hr after 11 years. If that doesn't jibe with your experience I'm on the lowest payscale. Topped out employees were making $16.64hr in 1999 on this payscale. In terms of purchasing power I'm making less now than as a topped out courier in 1997 at $13.50hr when I quit. And believe me topped out couriers were howling in 1997 about their pay. We can spin it any way we want but FedEx is no longer a good deal for guys like me. And when rehired I was told that I would top out in 7 to 8 years by my mgr and at the next station I transferred to also. I've heard those mgrs and mgrs at other stations tell newhires the same thing. Also I've spent many thousands of dollars transferring out of bad situations where I was lied to to get me there or dealt with crooked mgrs who were cheating me and in some instances cheating customers, committing fraud. Went to the company about the mgr who rehired me. They circled the wagons and denied any wrongdoing. Eventually he was told to take the mgrs buyout or get fired. You wouldn't believe some of the situations I experienced. And the stress. So why didn't I leave? Thru everything I held on because I was going to get a pension in the low $20k's when I turned 55. Now it's $13k with no COLA. Plus a small portable pension amount. So why not leave now? 48, lousy economy. And no matter what the company did or didn't know, they could be more generous in the PPA. But they aren't. </p><p></p><p>About that dividend. If I bought a million shares of Fedex stock today, how much would FedEx get? Nada! Unless they offer an IPO, which generally is something new companies do, stock traded on the market only affects those who own the stock like individuals and mutual funds. Everything the company does is towards keeping a high stock price for those who own a lot of stock. That's where the real wealth is at. Trying to impress Wall Street analysts with projections of high operating margins to get them to recommend buying FedEx stock results in doing things like putting more and more of health care costs on us, slowing pay progression to a trickle, freezing pension plans. I'll take it you are sincere. Don't kid yourself, maintaining a high stock price is our top priority. And after spending most of my adult life helping them be successful, I believe I have a right to say that exploiting others for personal gain is wrong. I and other mid-range employees want to share in the rewards of working for FedEx, not just exist for the company's benefit.</p></blockquote><p></p>
[QUOTE="vantexan, post: 693248, member: 24302"] OK, I'll take that. Still, I'm making $16.75hr after 11 years. If that doesn't jibe with your experience I'm on the lowest payscale. Topped out employees were making $16.64hr in 1999 on this payscale. In terms of purchasing power I'm making less now than as a topped out courier in 1997 at $13.50hr when I quit. And believe me topped out couriers were howling in 1997 about their pay. We can spin it any way we want but FedEx is no longer a good deal for guys like me. And when rehired I was told that I would top out in 7 to 8 years by my mgr and at the next station I transferred to also. I've heard those mgrs and mgrs at other stations tell newhires the same thing. Also I've spent many thousands of dollars transferring out of bad situations where I was lied to to get me there or dealt with crooked mgrs who were cheating me and in some instances cheating customers, committing fraud. Went to the company about the mgr who rehired me. They circled the wagons and denied any wrongdoing. Eventually he was told to take the mgrs buyout or get fired. You wouldn't believe some of the situations I experienced. And the stress. So why didn't I leave? Thru everything I held on because I was going to get a pension in the low $20k's when I turned 55. Now it's $13k with no COLA. Plus a small portable pension amount. So why not leave now? 48, lousy economy. And no matter what the company did or didn't know, they could be more generous in the PPA. But they aren't. About that dividend. If I bought a million shares of Fedex stock today, how much would FedEx get? Nada! Unless they offer an IPO, which generally is something new companies do, stock traded on the market only affects those who own the stock like individuals and mutual funds. Everything the company does is towards keeping a high stock price for those who own a lot of stock. That's where the real wealth is at. Trying to impress Wall Street analysts with projections of high operating margins to get them to recommend buying FedEx stock results in doing things like putting more and more of health care costs on us, slowing pay progression to a trickle, freezing pension plans. I'll take it you are sincere. Don't kid yourself, maintaining a high stock price is our top priority. And after spending most of my adult life helping them be successful, I believe I have a right to say that exploiting others for personal gain is wrong. I and other mid-range employees want to share in the rewards of working for FedEx, not just exist for the company's benefit. [/QUOTE]
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