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Sustainability--The Top of the Lie Pyramid
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<blockquote data-quote="snackdad" data-source="post: 930682" data-attributes="member: 30266"><p>FedEx promises innovation to help the environment and when it is not be delivered blames it on not wanting to give an advantage to the competition.</p><p></p><p></p><p> "<strong>WHEN BREAK-EVEN WON'T DO</strong></p><p>Larger-scale versions of his lightbulb struggle are playing out at numerous other companies. Hailed as an environmental pioneer, FedEx (<a href="http://www.businessweek.com/magazine/content/07_44/b4056001.htm" target="_blank">FDX</a> ) says on its Web site that it is "committed to the use of innovations and technologies to minimize greenhouse gases." With 70,000 ground vehicles and 670 planes burning fuel, the world's largest shipper is a huge producer of heat-trapping gases. Back in 2003, FedEx announced that it would soon begin deploying clean-burning hybrid trucks at a rate of 3,000 a year, eventually sparing the atmosphere 250,000 tons of greenhouse gases annually from diesel-engine vehicles. "This program has the potential to replace the company's 30,000 medium-duty trucks over the next 10 years," FedEx announced at the time. The U.S. Environmental Protection Agency awarded the effort a Clean Air Excellence prize in 2004.</p><p></p><p>Four years later, FedEx has purchased fewer than 100 hybrid trucks, or less than one-third of one percent of its fleet. At $70,000 and up, the hybrids cost at least 75% more than conventional trucks, although fuel savings should pay for the difference over the 10-year lifespan of the vehicles. FedEx, which reported record profits of $2 billion for the fiscal year that ended May 31, decided that breaking even over a decade wasn't the best use of company capital. "We do have a fiduciary responsibility to our shareholders," says environmental director Mitch Jackson. "We can't subsidize the development of this technology for our competitors."</p></blockquote><p></p>
[QUOTE="snackdad, post: 930682, member: 30266"] FedEx promises innovation to help the environment and when it is not be delivered blames it on not wanting to give an advantage to the competition. "[B]WHEN BREAK-EVEN WON'T DO[/B] Larger-scale versions of his lightbulb struggle are playing out at numerous other companies. Hailed as an environmental pioneer, FedEx ([URL="http://www.businessweek.com/magazine/content/07_44/b4056001.htm"]FDX[/URL] ) says on its Web site that it is "committed to the use of innovations and technologies to minimize greenhouse gases." With 70,000 ground vehicles and 670 planes burning fuel, the world's largest shipper is a huge producer of heat-trapping gases. Back in 2003, FedEx announced that it would soon begin deploying clean-burning hybrid trucks at a rate of 3,000 a year, eventually sparing the atmosphere 250,000 tons of greenhouse gases annually from diesel-engine vehicles. "This program has the potential to replace the company's 30,000 medium-duty trucks over the next 10 years," FedEx announced at the time. The U.S. Environmental Protection Agency awarded the effort a Clean Air Excellence prize in 2004. Four years later, FedEx has purchased fewer than 100 hybrid trucks, or less than one-third of one percent of its fleet. At $70,000 and up, the hybrids cost at least 75% more than conventional trucks, although fuel savings should pay for the difference over the 10-year lifespan of the vehicles. FedEx, which reported record profits of $2 billion for the fiscal year that ended May 31, decided that breaking even over a decade wasn't the best use of company capital. "We do have a fiduciary responsibility to our shareholders," says environmental director Mitch Jackson. "We can't subsidize the development of this technology for our competitors." [/QUOTE]
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