Fourth quarter numbers are out. Beat on earnings but only by a penny. Revenues came in about what was expected driven almost entirely by increased fuel surcharges and a stock price backstopped with 2.2 billion dollars worth of stock buybacks. At the same time they're expecting stronger financial results next year. How they plan on doing it? As if that's hard to figure out.
The Numbers Don't Lie (Sort Of)
- Thread starter bacha29
- Start date
yadig
Well-Known Member
The merge from express to ground and no raises. It should be a great 2023 for Wall Street
Raj said that the entire focus will be aggressive cost cutting and sliding the new network back and forth in response to economic shifts. You don't need to be an MBA to understand what's coming for the everyday box mule.
Cactus
Just telling it like it is
Aggressive cost cutting? Now everyone can expect a 40 year top-out plan, crappier vehicles, later start times and costlier insurance. Raj can plan on even more turnover than he’s seeing now.
They’ll still spend big bucks on Fat Freddy and his good ol’ boys, guaranteed.
A person can go on working for or contracting to them. Nobody's stopping them.....but there's obviously nothing to look forward to.
Cactus
Just telling it like it is
And they wonder why they go through more people than WalMart goes through heads of lettuce.
zeev
Well-Known Member
The huge dividend increase is not justified by the earnings, just an attempt to pump up stock price for Freddy to dump more stock, activist investor means strip out all the value in the company,like GE,Kmart did. Contractor model like many trucking companies used to do till they ran out of math challenged drivers to recruit.
Gone fishin
Well-Known Member
That sounds right in theory , but too many big hitters are investing. Somethings up
Mutineer
Well-Known Member
In my area, that day came over a decade ago.
Ya. They've planned for that.
They know why. They "wonder" that cuz it fits the news media narrative that all blue-collar American citizens are privileged, overweight, lazy, uneducated, addicted, mentally ill, and therefore "unqualified."
For the exact same reasons why abusive/awful/unattractive men import their wives, U.S. companies are importing their workers.
I’ve noticed around town that Express drivers are using Sprinters that are showing a fair amount of rust.
You NEVER would have seen that ten years ago.
El Morado Diablo
Well-Known Member
Most of our vehicles haven't been washed in over a year. Many of them have smiley faces (and other stuff) traced in the caked-on dirt by the public as people walk by them. You couldn't see rust if you tried looking for it.
McFeely
Huge Member
At my last station they were washed weekly, usually the night before a snowstorm or windstorm. At least they got washed regularly.
HedleyLamarr
Well-Known Member
I don't think they are buying us new vehicles anymore. It seems the company has realized it is actually cheaper to put us all in rentals and have the rental company pay for vehicle maintenance. At my station, if it is going to cost more than 3k to fix a vehicle, it just gets retired. More and more couriers are delivering out of rentals every month. I still have my Sprinter...for now. It is up to 260k miles but going strong.
We still have someone coming in on the weekends to wash the trucks, so at least that is being done.
El Morado Diablo
Well-Known Member
Our vehicles had to be washed on-site by a company that could recover the water. They stopped servicing our vehicles after the start of Covid. So they tried to find a local car wash where we could wash them ourselves. We were told we couldn't wash them on OT so no one had time to leave their route areas to wash them. They could try to assign people to wash them on Saturdays if they wanted but they're too cheap. Now the car wash has closed so we are left with dirty vans.
Cactus
Just telling it like it is
I’m shocked.
Well even if they did, they’d probably just make them go out on the road anyway due to a sick call.
Why would you care?
Check the responses the post is getting. They are insightful, informative and serve as a reminder that every person involved the FDX regardless of position needs to ask themselves the following question:.....where do you want to be 5 years from now?
Similar threads
