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FedEx Freight | Trump's corporate tax cut for the windfall

Thom-8-Toes said:
I for one am wondering...Will the Powers that be at Fed-Ex Corp. Pass along an extra bonus to the workers like others Corps.i.e.(at & t, walmart) ...et al. have.......I know we are getting our incentive bonus.....but thats an earned bonus.....Im referencing....President Trump's corporate tax cut for the windfall....being passed down.....

Maybe thats why the incentive was pushed back a week.....?
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I wish they would make all centers equal pay.
 
Now then, where goes the windfall, and why?

Again, 15% of profits will no longer go the the Federal Government, annually. It will go somewhere, so we might as well make the case for where we think it should go.

I've already said that I think the general mix of spending will remain fairly constant. Budget priorities have already been determined, deemed worthy, and forecast on a percentage basis.

There will likely be some extra priority given to one area or another. Maybe a couple.

Red has tossed his hat into the area of Fleet and facilities upgrades. Nothing wrong with some going that way, in anticipation of the huge boost coming to the industry with the strong & growing economy. Upgrades in terms of capacity would be hard to argue against. It would be short sighted to put all gains into this area, because the finest facilities in the world are worthless without a dependable and steady stream of quality workers.

The Fleet, already undergoing a substantial upgrade can probably suffice on it's current budget trajectory, able to be tweaked along the way.

Stockholders will certainly get their's. The continued growth and improved efficiencies driving that, as well as improved dividend payouts.

Rates “could” be cut, making us the “wal-mart” of the industry, something we've been told is exactly what we don't want to do, as a company. Let's hope that holds true.

Employees... Specifically Drivers, could use a boost for a number of reasons. I think we should list these reasons, since there are some good ones.

Growth. You're NOT going to grow significantly without a steady pool of quality drivers/mechanics/dock help. If you think you can grow big league on the backs of current divers (and currant stream of applicants), you will be in a constant battle to service the customer.

Significant Wage increase will drive recruiting in ways not seen in many years. Also the ability to remain fully staffed will keep hours at a reasonable level. Why does this matter? I can promise you, most veterans (including this one) will not be working 12-14 hours/day well into their 60s. They might stay if the typical day is 8-9. Trust me.

Beyond recruiting (made easier), the simple fact remains: The only way to grow significantly is to have the workers to do it. The companies who get in front of this will lead the market in many ways. If FedEx has a lock on top-shelf driver employment (that stack of applications), they will be the among the only carriers able to accept and properly service new business.

What if... All of it went into wages? And included a public announcement, in the next few months? Massive wage hike, across the board? Massive positive publicity, true. More importantly, reinforced perception as THE place to work, especially for drivers. Application through the roof, set to handle any and all growth. Equally important, it would send shock waves (disruption) across the industry. Similar, but more powerful than when UPS bumped top wages through the roof.

Result? FedEx not only leads, but DOMINATES the shipping industry, causing disruption across all the entire sector. Could send much of the competition into a panic, unable to compete for the shrinking pool of drivers.

Checkmate.:popcorn:

* The above is just one possible scenario. NOT a prediction. Rather a suggestion, posted for entertainment value, and containing significant elements of truth. Proceed at your own risk...

:smilie93c peelout:
 
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SwampRatt said:
Pension is a fair topic, but what about retiree healthcare? Not sure about you, but many might benefit more from that than an improved pension contribution, considering number of years left to participate.

Would you really rather improved funding go into pension rather than (as The Point suggested) an improved 401-k match? Real question. I'm curious.
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I have already requested that the pension be seriously looked at and considered for ending. No more entrants after a certain date and fade away over time. It has more liabilities then money in the bank. We sold $1 in bonds to add funding into it last year.

The amount that is added to the pension could be sent to our 401(k) thus doubling the company match for the majority. This does not even address the extra money that should be headed by the windfall into our 401(k). Combined we could have a true 100% match on the first 10% we put into the 401(k). Retiree healthcare is a viable topic that should be addressed too but my current focus is the 401(k).
 
SwampRatt said:
Now then, where goes the windfall, and why?

Again, 15% of profits will no longer go the the Federal Government, annually. It will go somewhere, so we might as well make the case for where we think it should go.

I've already said that I think the general mix of spending will remain fairly constant. Budget priorities have already been determined, deemed worthy, and forecast on a percentage basis.

There will likely be some extra priority given to one area or another. Maybe a couple.

Red has tossed his hat into the area of Fleet and facilities upgrades. Nothing wrong with some going that way, in anticipation of the huge boost coming to the industry with the strong & growing economy. Upgrades in terms of capacity would be hard to argue against. It would be short sighted to put all gains into this area, because the finest facilities in the world are worthless without a dependable and steady stream of quality workers.

The Fleet, already undergoing a substantial upgrade can probably suffice on it's current budget trajectory, able to be tweaked along the way.

Stockholders will certainly get their's. The continued growth and improved efficiencies driving that, as well as improved dividend payouts.

Rates “could” be cut, making us the “wal-mart” of the industry, something we've been told is exactly what we don't want to do, as a company. Let's hope that holds true.

Employees... Specifically Drivers, could use a boost for a number of reasons. I think we should list these reasons, since there are some good ones.

Growth. You're NOT going to grow significantly without a steady pool of quality drivers/mechanics/dock help. If you think you can grow big league on the backs of current divers (and currant stream of applicants), you will be in a constant battle to service the customer.

Significant Wage increase will drive recruiting in ways not seen in many years. Also the ability to remain fully staffed will keep hours at a reasonable level. Why does this matter? I can promise you, most veterans (including this one) will not be working 12-14 hours/day well into their 60s. They might stay if the typical day is 8-9. Trust me.

Beyond recruiting (made easier), the simple fact remains: The only way to grow significantly is to have the workers to do it. The companies who get in front of this will lead the market in many ways. If FedEx has a lock on top-shelf driver employment (that stack of applications), they will be the among the only carriers able to accept and properly service new business.

What if... All of it went into wages? And included a public announcement, in the next few months? Massive wage hike, across the board? Massive positive publicity, true. More importantly, reinforced perception as THE place to work, especially for drivers. Application through the roof, set to handle any and all growth. Equally important, it would send shock waves (disruption) across the industry. Similar, but more powerful than when UPS bumped top wages through the roof.

Result? FedEx not only leads, but DOMINATES the shipping industry, causing disruption across all the entire sector. Could send much of the competition into a panic, unable to compete for the shrinking pool of drivers.

Checkmate.:popcorn:

* The above is just one possible scenario. NOT a prediction. Rather a suggestion, posted for entertainment value, and containing significant elements of truth. Proceed at your own risk...

:smilie93c peelout:
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A well thought out response...nice job!! :1036316054:

Agreed, I think “some” of the windfall should go to update some of the older facilities, and we have quite a few, if not replace some altogether, but I also agree with your premise...the workforce should also share in some of the windfall. Sorry if I made it sound like equipment and facilities should be the sole recipient, that’s simply not the case.

As for the workforce, there’s several areas I’d like to see addressed. The pension isn’t much good for the older guys but for those who are just starting out, they will benefit...one day...so I say keep it. I’d love to see our 401K not only matched 100% but let’s up the match from 6% to say 10%...works for me. As for the older guys who won’t benefit from our pension, I’d love for them to offer retiree healthcare...not only would this benefit the older guys but it would keep guys from working into their 70’s while allowing the younger guys to progress up the seniority ladder a little quicker!! :1036316054:

I agree, the results could put us at the top of the food chain which in turn would increase the amount of qualified applicants applying!!
 
The Point said:
I have already requested that the pension be seriously looked at and considered for ending. No more entrants after a certain date and fade away over time. It has more liabilities then money in the bank. We sold $1 in bonds to add funding into it last year.

The amount that is added to the pension could be sent to our 401(k) thus doubling the company match for the majority. This does not even address the extra money that should be headed by the windfall into our 401(k). Combined we could have a true 100% match on the first 10% we put into the 401(k). Retiree healthcare is a viable topic that should be addressed too but my current focus is the 401(k).
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A move to 100% match is certainly possible. Not sure it aids in recruiting, but that is beside the point. Definitely a worthwhile enhancement. One that does not break the bank, given that participation in not 100%. Not even close.
 
mattbob said:
How about taking another look at the GPD?
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Crazy Trucker said:
Or at least do away with the bottom gpd scale.
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Both within the realm of possibility, falling under wage enhancement. :1036316054:

Cost of complete elimination might be too steep, but another "56" could be "corrected". That would fit nicely into a press release noting sweeping wage increases at FedEx, up to $3.00/hour for "many" in the Freight division! Just to throw a random (conservative) number out there... :poke:

:smilie93c peelout:
 
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This is second hand info....Today a friend called and said he heard another guy with a big head that wares a big hat (Rush Limbaugh) was talking about Fed Ex giving Employees a bonus with tax windfall....

Anyone in later time zone if you can l listen just before and just after 2nd hour....of fat head.......to verify.....

If interested......
 
Thom-8-Toes said:
This is second hand info....Today a friend called and said he heard another guy with a big head that wares a big hat (Rush Limbaugh) was talking about Fed Ex giving Employees a bonus with tax windfall....

Anyone in later time zone if you can l listen just before and just after 2nd hour....of fat head.......to verify.....

If interested......
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Fat head runs North Korea... Big Dave advises FedEx, is a consultant for BRG Patel,lead dispatch for coop Dispatch,and part time Dew delivery driver. Rush,was kicked in the head,and it is still swelled up....
 
Thom-8-Toes said:
This is second hand info....Today a friend called and said he heard another guy with a big head that wares a big hat (Rush Limbaugh) was talking about Fed Ex giving Employees a bonus with tax windfall....

Anyone in later time zone if you can l listen just before and just after 2nd hour....of fat head.......to verify.....

If interested......
Click to expand...

I'd rather pass up the bonus than listen to fat head.
 
SwampRatt said:
I think I remember that one. Are they still there? Not just a bad facility, but isn't the location equally bad? :scratchhead:
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Terrible!!! If there are two sets on the yard dropping out and a third shows up, the third must wait in the middle of the road until one of the first two finish dropping just so the third can get through the gate...and you’d better hope and pray some crack head doesn’t pull a Reginald Denny on your ass while you’re sitting in the road waiting!!!

As for the city guys, all vans must be put to the front side of the dock in order back to front because there’s not enough room on either side to even turn around...and if you have to put a pup to door at the front of the back side, you must pull a u-turn at the back then back the pup down the entire length of the dock just to get to a front door....pathetic!!

And let’s not forget the many pot holes in their dirt yard that you can lose a truck in...and God forbid it starts raining...
 
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