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FedEx Discussions
Rates going up 4.9%
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<blockquote data-quote="vantexan" data-source="post: 788504" data-attributes="member: 24302"><p>FedEx had a profit of 1.18 billion dollars in Fiscal Year 2010, which ended May 31, 2010. </p><p>That's for the entire corporation after all expenses. Out of that they will pay stock dividends, reinvest in the company, etc. There are strict accounting rules for tax purposes which if violated would result in prison terms. That's not a maybe, laws are in place to protect stockholders and make sure the gov't gets it's cut. FedEx may be raising rates for a number of reasons. Maybe fuel prices are projected to go higher. Making higher profits is certainly a reason. Alot of planning goes into everything they do, so they do have reasons. Anticipating problems, that sort of thing. I'm not happy with the pay, but I don't believe they're greedy dimwits who are constantly reacting to problems. These are hard-nosed, pragmatic businessmen. This is their golden goose, so rest assured that they have their reasons. They have made mistakes in the past, not saying they're perfect. But I believe their mistakes, and the resulting losses and lawsuits, have made them much more careful and efficient. And thus any raise we get will be because they know they've pushed us to the breaking point so they have to give us something. But they seemed to be searching for the sweet spot where they can pay us as little as possible and still retain most of us. And with this economy they are definitely winning that battle.</p></blockquote><p></p>
[QUOTE="vantexan, post: 788504, member: 24302"] FedEx had a profit of 1.18 billion dollars in Fiscal Year 2010, which ended May 31, 2010. That's for the entire corporation after all expenses. Out of that they will pay stock dividends, reinvest in the company, etc. There are strict accounting rules for tax purposes which if violated would result in prison terms. That's not a maybe, laws are in place to protect stockholders and make sure the gov't gets it's cut. FedEx may be raising rates for a number of reasons. Maybe fuel prices are projected to go higher. Making higher profits is certainly a reason. Alot of planning goes into everything they do, so they do have reasons. Anticipating problems, that sort of thing. I'm not happy with the pay, but I don't believe they're greedy dimwits who are constantly reacting to problems. These are hard-nosed, pragmatic businessmen. This is their golden goose, so rest assured that they have their reasons. They have made mistakes in the past, not saying they're perfect. But I believe their mistakes, and the resulting losses and lawsuits, have made them much more careful and efficient. And thus any raise we get will be because they know they've pushed us to the breaking point so they have to give us something. But they seemed to be searching for the sweet spot where they can pay us as little as possible and still retain most of us. And with this economy they are definitely winning that battle. [/QUOTE]
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