USPS deal

[vantexan]

Seems I've heard this before. Didn't everyone say FedEx was done when they dropped Amazon?

I thought it was the other way around with Amazon. And certain corporate types here said Amazon would have little impact.

 

[Gone fishin]

There are three stations in my immediate area. Over the last few months one of them has hired 37 couriers with 20 of them being full-time. The other two stations have hired 12+ couriers over the same time. The employees at one station have been told by the engineer that everyone is safe for the next 5-7 years. For a company that is going out of business, they have a funny way of showing it.

Congrats on getting out and moving on. Sounds like a good move for a younger person who has had enough of FDX.

I think Fred Sr sees his legacy and company burning to the ground , but who knows

 

[yadig]

I think Fred Sr sees his legacy and company burning to the ground , but who knows

He had a good run. Cheap labor and terrible management have caught up.

 

[Gone fishin]

He had a good run. Cheap labor and terrible management have caught up.

He’s wealthy , that might be all that’s important to him

 

[59 Dano]

What other contract accounts for 4%? That's a pretty big chunk of change.

It's a contract that is barely profitable. Those are contracted flights created for the postal service. The volume isn't there anymore and the post office doesn't want to renegotiate. Express can walk away and make money on the deal by grounding those flights and cutting pilots.

The flights aren't worth it if the margins don't meet suitable minimums.

 

[59 Dano]

Seems I've heard this before. Didn't everyone say FedEx was done when they dropped Amazon?

Yep. And then it was done because Amazon was going to buy it. And after Amazon didn't buy it, Walmart was going to buy it. And on it goes.

 

[zeev]

Amazon and Walmart have no interest, FedEx is headed to be another LTL trucking company,small package is not profitable unless your like UPS or the subsidized post office.

 

[FedupExpress]

Seems I've heard this before. Didn't everyone say FedEx was done when they dropped Amazon?

Well ya, the only thing that was keeping fedex alive was the scamdemic

 

[Cactus]

Yep. And then it was done because Amazon was going to buy it. And after Amazon didn't buy it, Walmart was going to buy it. And on it goes.

Doesn’t really matter at this point. FedEx is Walmart now, only on wheels.

 

[bacha29]

Amazon and Walmart have no interest, FedEx is headed to be another LTL trucking company,small package is not profitable unless your like UPS or the subsidized post office.

Simply go out and watch the trucks on the interstates. Freight appears to have really cashed in on the demise of Yellow. If not for the few union represented carriers that remain Freight jocks would be making contractor driver pay. As for small box it has historically been a higher margin business than LTL However given the physical beating the job inflicts on package jocks the high turnover turnover rate will eventually catch up with that sector. Likewise the Ol' Virginny style sharecropping practice of paying people by the stop and box will inevitably come under DOJ and Department of Labor scrutiny.

In trucking, success is not founded on the basis of what you think you can achieve but rather on the basis of what you think you can get away with.

 

[cosis]

Express is hanging by a thread. Execs know it what why they made this Fedex one bull

 

[Gone fishin]

Express is hanging by a thread. Execs know it what why they made this Fedex one bull

I think FedEx itself is hanging on , FedEx reputation is taking huge hits with ground taking on bigger responsibilities with commits. While American workers are demanding better wages , FedEx is taking away wages.
Turnover and quality workers aren’t being fooled by Raj. FedEx has a small window to fix this or I can see them being in real trouble

 

[zeev]

You want to know what’s going on with the merger go on the Ground Facebook or Reddit driver page. Express packages are being delivered by Ground, drivers deliver if it is convenient. One thing about Ground the driver job is not good enough to worry about it. They get paid by the day and the faster they go the better .

 

[59 Dano]

I thought it was the other way around with Amazon. And certain corporate types here said Amazon would have little impact.

There was a .68% decrease in revenue for the 12 months after the end of the Amazon contract. I don't know about you, but I'd say that a less than 1% impact would be considered "little."

 

[vantexan]

There was a .68% decrease in revenue for the 12 months after the end of the Amazon contract. I don't know about you, but I'd say that a less than 1% impact would be considered "little."

Then FedEx Express is doing well and there's no need to combine operations with Ground.

 

[Cactus]

Then FedEx Express is doing well and there's no need to combine operations with Ground.

You forgot the fact that Smith is bloodthirsty for money on a continual basis. That’s the bottom line. Otherwise, you’re correct.

 

[59 Dano]

Then FedEx Express is doing well and there's no need to combine operations with Ground.

What does the combination of Express and Ground have to do with an Amazon contract that expired nearly 5 years ago?

 

[vantexan]

What does the combination of Express and Ground have to do with an Amazon contract that expired nearly 5 years ago?

Just commenting on what you said. If Amazon had such negligible effect then what is the reason for combining the two opco's and taking away so many jobs? Could it be the company puts more profit above the livelihoods of so many Express employees? Just questions, don't get in a twist.

 

[zeev]

Amazon was the turning point for FedEx can not compete with a package that is already at its destination. Fast Freddy s doing an accelerated stock buyback taking the money out of stock the company to reflect the smaller company and pumping up his shares the demise will be by June 1.

 

[Gone fishin]

Amazon was the turning point for FedEx can not compete with a package that is already at its destination. Fast Freddy s doing an accelerated stock buyback taking the money out of stock the company to reflect the smaller company and pumping up his shares the demise will be by June 1.

I don’t think that at all , Amazon delivers its own product. Really has no bearing on the rest of the world