There ma
there making money because their cutting to the bone, timing their purchase of things needed to run the company to show better results so it doesn’t reflect the stock price. They bought the company because they saw a ton of area they could make cuts to show a better profit margin. They did not and do not care how it effects you and me , we are just a nessary evil. Hell he even said as soon as the technology is there we’re gone.
“Results matter” above everything else.
Good luck
Boy you are really hard on this stock price, and turning a profit thing. I sure there are hundreds of thousands of former employees of CF, Carolina, Red Star, and ST. J just to mention a few, that wish there company had this problem of making money and a rising stock price. So lets talk about stock prices.
You and others here will tell a driver to go to FedEx Freight before even considering XPO.
Some people believe that the stock price moving north is benefiting us a drivers somehow . Maybe in theory in the long run I guess but for now it reflects what is taken from us.
Jacobs is a salesman. He is selling Wall Street a false scenario in a sense.
So here's some history
I worked for AF when FedEx bought AF on in 2001. I left the company in late 2003 because of the same stuff going on here. The cutting and changes across the board. The same things that is happening now is what was happening back then and that's the main reason I left. I do laugh when I see you tell driver to go to FedEx now because I remember what it was like 16yrs ago. It's like the movie groundhog day.
To get back to the stock price thing.
FedEx stock price when the bought AF in 2001 was in the $40 per share. AF stock was $28.
FedEx stock price opened this morning 15 Nov 17 at 218.96 that over a 450% increase in 16yrs. Why does stock price and OR matter. Well what is a driver wage at FedEx, what's there Equipment look like, I don't see them driving 8yr or older trucks on linehaul do you. From what everyone else says a better 401k match and some kind of pension plan from what I hear. As far as I know there health plans about the same as ours thank you ACA.
Last night I drove past the FedEx yard near me and saw at least 6 truck sitting in there bone yard. Those are 6 truck they replaced and that the third time I saw that this year alone. That's one end of the line barn got more new truck in one year than some of our barn have in there fleet.
We see the day to day effects of the cut and what effects it has on not only is and our families but also on the customers.
I can tell you back then the customer felt the same thing they are feeling with us now. There are growing pain and we as truck drivers hate change If I could have dealt with that change 16yrs ago I would have been with FedEx for over 20yrs and I'm not even 50yrs old yet.
One last thing. When Fred Smith announced he was buying AF the it was shock the LTL world and then a few year last UPS bought Overnite.