FedEx Freight | Fx Express walked away from the USPS contract.

[SwampRatt]

UPS.

I missed that... WOW. It will be interesting to see if they can handle it.

If it's costing FedEx pilots 300 jobs, logic dictates UPS will need a bunch of those same Pilots... FedEx will use that as leverage in their contract negotiations, that's for sure.

 

[mattbob]

Keep believing that narrative FedEx is feeding you. Losing a $2 billion a year contract will cause this Corp to lose money not make money, and most likely will result in layoffs.

the end is near, IMHO

 

[No F-bdy Bs]

If they were making good money with it, rest assured that FX wouldn't have let it go.

 

[No F-bdy Bs]

the end is near, IMHO

Meaning what, exactly?

 

[ltltrkr]

If they were making good money with it, rest assured that FX wouldn't have let it go.

when you read the whole article, some analysts wondered why UPS would even want it.

 

[Crazy Trucker]

The way I see it, it's pretty sad a ceo can run a company in the ground, and keep his job or fly away with a golden parachute. Race to the bottom continues. Wouldn't be surprised if ground and express were sold to Amazon.

 

[SmackyJack]

If they were making good money with it, rest assured that FX wouldn't have let it go.

If they were making good money with it, rest assured that FX wouldn't have let it go.

The way I see it, it's pretty sad a ceo can run a company in the ground, and keep his job or fly away with a golden parachute. Race to the bottom continues. Wouldn't be surprised if ground and express were sold to Amazon

The way I see it, it's pretty sad a ceo can run a company in the ground, and keep his job or fly away with a golden parachute. Race to the bottom continues. Wouldn't be surprised if ground and express were sold to Amazon.

You got that right? Something feels really off this past couple of years with this corporation. Almost like they’re trying to fail.

 

[Ex 5-0]

I wonder who else has the available capacity to take on that account AND have reasonable reliability.

Not to be that guy, but it's literally in the headline of the linked article...

 

[mattbob]

You got that right? Something feels really off this past couple of years with this corporation. Almost like they’re trying to fail.

they are doing a good job at it

 

[No F-bdy Bs]

They're not trying to fail. I'm sure they have a lomg sighted plan that will be extremely profitable in the future.
I personally think they're chopping everything that isn't super lucrative, at the same time downsizing. Reduction in workforce goes with that, which increases profits.
I believe they want to be smaller, but relatively more profitable. Obviously this ain't good for those in the trenches getting the axe, but make no mistake, none of this is a fvck up, it's all by design, and is not a last minute decision. Fx, for better or worse, is not stupid.

 

[Crazy Trucker]

They're not trying to fail. I'm sure they have a lomg sighted plan that will be extremely profitable in the future.
I personally think they're chopping everything that isn't super lucrative, at the same time downsizing. Reduction in workforce goes with that, which increases profits.
I believe they want to be smaller, but relatively more profitable. Obviously this ain't good for those in the trenches getting the axe, but make no mistake, none of this is a fvck up, it's all by design, and is not a last minute decision. Fx, for better or worse, is not stupid.

Sure that sounds good, but how much did they trim off the stock after this decision? Shareholders probably pissed and that's not good.

 

[SmackyJack]

They're not trying to fail. I'm sure they have a lomg sighted plan that will be extremely profitable in the future.
I personally think they're chopping everything that isn't super lucrative, at the same time downsizing. Reduction in workforce goes with that, which increases profits.
I believe they want to be smaller, but relatively more profitable. Obviously this ain't good for those in the trenches getting the axe, but make no mistake, none of this is a fvck up, it's all by design, and is not a last minute decision. Fx, for better or worse, is not stupid.

Fair enough, which makes me really question if I want to continue to be employed with this corporation.

 

[No F-bdy Bs]

Sure that sounds good, but how much did they trim off the stock after this decision? Shareholders probably pissed and that's not good.

They're down about 2% since the decision, but the market itself has been down recently.
At any rate, Fx isn't in the least concerned about what happens to the stock in a 5 day period.
Trust me, I'm not defending them, I'm just looking at it like a global conglomerate would. Fx plays the long game. The moves they're currently making may not yield results for 5 years or more, and they're at ease with that.

 

[Big Dave]

They're not trying to fail. I'm sure they have a lomg sighted plan that will be extremely profitable in the future.
I personally think they're chopping everything that isn't super lucrative, at the same time downsizing. Reduction in workforce goes with that, which increases profits.
I believe they want to be smaller, but relatively more profitable. Obviously this ain't good for those in the trenches getting the axe, but make no mistake, none of this is a fvck up, it's all by design, and is not a last minute decision. Fx, for better or worse, is not stupid.

Asset light “er”???…

 

[Big Dave]

The way I see it, it's pretty sad a ceo can run a company in the ground, and keep his job or fly away with a golden parachute. Race to the bottom continues. Wouldn't be surprised if ground and express were sold to Amazon.

Will Raj sell for cheaper than Brad????

 

[SwampRatt]

This, from the pilot's union:

"With each new announcement, FedEx management continues to threaten every FedEx employee's job security and quality of life," said the Air Line Pilots Association International (ALPA), the union representing FedEx pilots.

"FedEx continues to spend billions in stock buybacks while simultaneously announcing layoffs of employees who have helped build it into the brand it is today," ALPA added."

Maybe they should have let Freight drivers join forces with them, when we asked. Would have been a win/win in terms of leverage.

Since they looked down their noses in declining, I have little or no sympathy for them.

 

[Crazy Trucker]

This, from the pilot's union:

"With each new announcement, FedEx management continues to threaten every FedEx employee's job security and quality of life," said the Air Line Pilots Association International (ALPA), the union representing FedEx pilots.

"FedEx continues to spend billions in stock buybacks while simultaneously announcing layoffs of employees who have helped build it into the brand it is today," ALPA added."

Maybe they should have let Freight drivers join forces with them, when we asked. Would have been a win/win in terms of leverage.

Since they looked down their noses in declining, I have little or no sympathy for them.

True that. But then again, I doubt the majority would have been smart enough to have joined them even if they had offered.

 

[Crazy Trucker]

They're down about 2% since the decision, but the market itself has been down recently.
At any rate, Fx isn't in the least concerned about what happens to the stock in a 5 day period.
Trust me, I'm not defending them, I'm just looking at it like a global conglomerate would. Fx plays the long game. The moves they're currently making may not yield results for 5 years or more, and they're at ease with that.

We shall see. IMO this company will not exist as fed ex in 5 years.

 

[westdriver]

It's not just Express, I see alot of this stuff cross freights dock
1 billion a year is a substantial hit

 

[SmackyJack]

It's not just Express, I see alot of this stuff cross freights dock
1 billion a year is a substantial hit

It’s actually a $2 billion hit.