What will happen to the express Drivers....

[bacha29]

Thanks. But there is no treaty, but we do have a relations act where we agreed to provide them with weapons to defend themselves. Which we've done for years. We don't even have official diplomatic relations with them. @bacha29

The Relations Act gives the president powers to defend Taiwan. And China's unlawful claim to nearly the entire South China Sea which are international waters as set for in the 1982 Law of the Seas and it's open hostilities toward it's neighboring countries on the SCS will likely be the justification for the biggest naval battle since Midway.

Clearly you completely missed my point. My point was that as CEO Raj's job is to be able to get a clear picture of the future global economy and geopolitical landscape given that his is a GLOBAL company . And given the emerging factors I mentioned don't think that he doesn't see it as well and has decided to get ahead of it. That's why he's CEO.

 

[bacha29]

The overhaul centers on a merger between its Ground unit, which uses non-employee contractors to move parcels, and its Express division, which hires only staff drivers. FedEx didn’t offer many specifics on the integration plans or implications, aside from telling investors last week that it would use a “hybrid” of the employee and contractor models
With volume expected to migrate to the lower-cost Ground unit, experts predict the company will lean more toward contractors — and potentially do away with staff drivers entirely.
will they go all the way to independent contractor service-providers? Yes, I see that happening,” said Satish Jindel, founder of ShipMatrix, which provides logistical consulting and market data. Their plan is to get rid of hourly fedex couriers Those guys need to UNIONIZE now

Too late now to do anything about it. How many of them will accept job offers from contractors for at least a third less money and zero benefits? Might see a few and those will likely be the ones who didn't get out earlier.

 

[Empty Pockets]

Confused here. When I leave I can choose to put my 401k money into an IRA or similar, right?

When you retire and start withdrawing from your plan, do you just leave it at Vanguard?

If you can trade stocks profitably, another option is to call Vanguard and move 90% of the fund into a (SBDA)Self Directed Brokerage Account. It is with TDAmeritrade and is active the very next day to trade.

How about this headline from Bloomberg? Full article is behind a pay wall unfortunately. Update, actually I was able to read it.

FedEx Overhaul Contemplates a Future With No Drivers on Payroll

FedEx Corp. is ripping up founder Fred S’s well-worn playbook as it rethinks virtually the entire business. That could mean the end of FedEx drivers as we know them.

www.bloomberg.com

Business

FedEx Overhaul Contemplates a Future With No Drivers on Payroll​

I was into stock trading 20 years ago and Press Releases usually have a reason behind them and the timing is everything. For instance, you try to put bad news out on a Friday so it is forgotten by Monday. Conversely, good news is best on Monday so the stock will run all week. Well, this Press Release is weird.

FedEx Overhaul Contemplates a Future With No Drivers on Payroll

The story is written by Thomas Black who does appear to be employed by Bloomberg. He quotes Raj early in the story several times like he is interviewing Raj,
"Chief Executive Officer Raj Subramaniam, who took over for Smith less than a year ago, calls it “a more holistic approach to how we move packages” that will help the company save $6 billion by 2027."
LAter, he says this, “Will they go all the way to independent contractor service-providers? Yes, I see that happening,” said Satish Jindel, founder of ShipMatrix, which provides logistical consulting and market data.
Who in the hell is Satish Jindel and why are we getting information from him and ShipMatrix?

 

[Empty Pockets]

DM lied straight to our faces today, saying there is nothing to worry about and all the combined stations down south have failed and have reverted back to being separate.

Someone brought up an article an article about a combined facility opening a few weeks ago and he looked like he couldn't get out of the lunch room quick enough.

It appears that Joplin, Mo has been notified this week of their situation. Only a few folks are getting to move into the Ground facility.


GTRA was supposed to have a big meeting today but have not heard how it went yet.

 

[Empty Pockets]

They might as well dump out a box full of knives and baseball bats at the meeting. The five survivors go to the new building.

 

[It will be fine]

If you can trade stocks profitably, another option is to call Vanguard and move 90% of the fund into a (SBDA)Self Directed Brokerage Account. It is with TDAmeritrade and is active the very next day to trade.



I was into stock trading 20 years ago and Press Releases usually have a reason behind them and the timing is everything. For instance, you try to put bad news out on a Friday so it is forgotten by Monday. Conversely, good news is best on Monday so the stock will run all week. Well, this Press Release is weird.

FedEx Overhaul Contemplates a Future With No Drivers on Payroll

The story is written by Thomas Black who does appear to be employed by Bloomberg. He quotes Raj early in the story several times like he is interviewing Raj,
"Chief Executive Officer Raj Subramaniam, who took over for Smith less than a year ago, calls it “a more holistic approach to how we move packages” that will help the company save $6 billion by 2027."
LAter, he says this, “Will they go all the way to independent contractor service-providers? Yes, I see that happening,” said Satish Jindel, founder of ShipMatrix, which provides logistical consulting and market data.
Who in the hell is Satish Jindel and why are we getting information from him and ShipMatrix?

I think the Raj quote was from the investor presentation, it sounds familiar. ShipMatrix
is well known and quoted often in stories, especially around peak, they track each carrier’s on time service numbers independently.

 

[Nolimitz]

Great. A little gravy to finish out my meal.

gravy costs extra

 

[Guitarman01]

It appears that Joplin, Mo has been notified this week of their situation. Only a few folks are getting to move into the Ground facility.


GTRA was supposed to have a big meeting today but have not heard how it went yet.

So they are going to mix higher pay hourly employees with full benefits with contracted drivers at the same facility? That's the plan that may happen everywhere? That sounds insane.

 

[It will be fine]

So they are going to mix higher pay hourly employees with full benefits with contracted drivers at the same facility? That's the plan that may happen everywhere? That sounds insane.

Would it blow your mind to know that there are in fact tons of hourly employees with benefits working in every Ground facility now?

 

[IVE GOTTA PACKAGE 4U]

Would it blow your mind to know that there are in fact tons of hourly employees with benefits working in every Ground facility now?

And what kind of benefits do they get?

 

[Guitarman01]

Would it blow your mind to know that there are in fact tons of hourly employees with benefits working in every Ground facility now?

Admin is one thing, drivers are quite another.

 

[vantexan]

Taiwan Relations Act 1979. Of course Taiwan Semiconductor is building in the US in the event that China succeeds in invading the country and removing the DEMOCRATICALLY elected government.

It's not a treaty and the U.S. is under no obligation to send troops.

 

[textat3]

They are going to be offered our jobs on 07/31/2023.

 

[vantexan]

The Relations Act gives the president powers to defend Taiwan. And China's unlawful claim to nearly the entire South China Sea which are international waters as set for in the 1982 Law of the Seas and it's open hostilities toward it's neighboring countries on the SCS will likely be the justification for the biggest naval battle since Midway.

Clearly you completely missed my point. My point was that as CEO Raj's job is to be able to get a clear picture of the future global economy and geopolitical landscape given that his is a GLOBAL company . And given the emerging factors I mentioned don't think that he doesn't see it as well and has decided to get ahead of it. That's why he's CEO.

You don't seem to understand that Hunter Biden has done millions of dollars worth of business in China. As in they gave him money that he has done nothing with but spend it partying. And give to his family. Joe is compromised and the Taiwanese are S.O.L. There won't be a huge naval battle, no ground troops. The relations act gives the president the right to supply Taiwan with defensive weapons and we have for decades. When push comes to shove watch Joe say it's an internal Chinese matter.

 

[Lates]

DM lied straight to our faces today, saying there is nothing to worry about and all the combined stations down south have failed and have reverted back to being separate.

Someone brought up an article an article about a combined facility opening a few weeks ago and he looked like he couldn't get out of the lunch room quick enough.

Our station is merging end of May haven’t heard of any kind of failure changing that. As far as I know 10 people will be out of a job that day.

 

[It will be fine]

Admin is one thing, drivers are quite another.

Package handlers get benefits, the majority of drivers in my terminal are offered benefits. The “hurr durr, Ground drivers don’t get benefits” is out of date. You’ll have to update your nonsensical reasons for why this plan won’t happen.

 

[Gone fishin]

Our station is merging end of May haven’t heard of any kind of failure changing that. As far as I know 10 people will be out of a job that day.

Our station is 3-4 years away

 

[Serf]

The overhaul centers on a merger between its Ground unit, which uses non-employee contractors to move parcels, and its Express division, which hires only staff drivers. FedEx didn’t offer many specifics on the integration plans or implications, aside from telling investors last week that it would use a “hybrid” of the employee and contractor models
With volume expected to migrate to the lower-cost Ground unit, experts predict the company will lean more toward contractors — and potentially do away with staff drivers entirely.
will they go all the way to independent contractor service-providers? Yes, I see that happening,” said Satish Jindel, founder of ShipMatrix, which provides logistical consulting and market data. Their plan is to get rid of hourly fedex couriers Those guys need to UNIONIZE now

That’s fine. I’m not going out in a 900 grumman, full. Delivering it all. Then filling it back up again with pickups. Especially for several dollars less an hr. And no retirement.

 

[Serf]

Package handlers get benefits, the majority of drivers in my terminal are offered benefits. The “hurr durr, Ground drivers don’t get benefits” is out of date. You’ll have to update your nonsensical reasons for why this plan won’t happen.

Catastrophic care medical insurance is par for the course. Does ground off a portable pension and a 6 or 8 % 401k match? Life insurance? Etc?

 

[Gone fishin]

Package handlers get benefits, the majority of drivers in my terminal are offered benefits. The “hurr durr, Ground drivers don’t get benefits” is out of date. You’ll have to update your nonsensical reasons for why this plan won’t happen.

You need the money I don’t. Just like my fedex younger guys well