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FedEx Discussions
So, Fedex, what do you think about the paycuts?
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<blockquote data-quote="MrFedEx" data-source="post: 467172" data-attributes="member: 12508"><p>When a big company buys commercial aircraft there is always an exit clause built-in because Boeing and Airbus know that a lot can happen to an airline financially. Wars, politics, fuel prices etc. can all wreak havoc on an airline's bottom line, and the manufacturers don't want to lose their customers. Right now, Asian airlines are cancelling or delaying many orders due to the bad economy. </p><p> </p><p>FedEx <em>did</em> delay delivery of it's new 777's, but then Fred exercised <em>firm options</em> for 10 more, meaning that they will be on the hook for those aircraft. Isn't it amazing, that even as FedEx is about to "go under", that Fred can afford a bunch of new planes? How can he manage that? By cutting our hours, eliminating our benefits(like retirement), and then asking us to pay much more for our insurance. The more he takes away, the more money he has to reinvest in capital equipment. Too bad he doesn't feel the same way about his human capital.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 467172, member: 12508"] When a big company buys commercial aircraft there is always an exit clause built-in because Boeing and Airbus know that a lot can happen to an airline financially. Wars, politics, fuel prices etc. can all wreak havoc on an airline's bottom line, and the manufacturers don't want to lose their customers. Right now, Asian airlines are cancelling or delaying many orders due to the bad economy. FedEx [I]did[/I] delay delivery of it's new 777's, but then Fred exercised [I]firm options[/I] for 10 more, meaning that they will be on the hook for those aircraft. Isn't it amazing, that even as FedEx is about to "go under", that Fred can afford a bunch of new planes? How can he manage that? By cutting our hours, eliminating our benefits(like retirement), and then asking us to pay much more for our insurance. The more he takes away, the more money he has to reinvest in capital equipment. Too bad he doesn't feel the same way about his human capital. [/QUOTE]
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So, Fedex, what do you think about the paycuts?
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