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FedEx Freight | Listen to the Anti Union Guys, PLEASE!

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EX396 said:
FedEx's annual report shows the Freight Segment with a revenue of $5.757B and employee compensation at $2.444B which is 42.45% Significantly higher than your graph shows. Unsure if UPS's bar would also increase by a similar amount.

UPS's annual report segments their revenue (Freight was $2.882B), but does not segment their employee compensation.

Answer: Repurchase of company stock is a Balance Sheet thing, not a Profit and Loss thing.
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Yeah, You're right. That is enough reason for FedEx to pay you lower wages and make you pay more for your inferior benefits. 401 for retirement instead of a company paid retirement plus a 401 if you choose to have it. Yeah, You're right FedEx needs to make more and you make less. After all you have your family to think about...
 
How many peoole are not getting paid at customers while they sit on their butts waing for late ltl's to come in?
Most are still on the clock. Time is money. Nobody wants to give it away in the market.

Negotiations and the contract will bring communication which is productive and for both parties....not just one

hohumm said:
Yeah, I do hope FXF has a plan to attract (good, safe and qualified) drivers (and dock workers, and clerks, and managers, and, and, and) ... It's pretty simple really:

- Be the best, most stable and most profitable carrier in the industry

- Provide the best working conditions in the industry - Equipment, respect, honesty, teamwork, technology, education, and just plain old-fashioned taking care of your people and customers

- Pay competitive compensation and provide competitive benefits (That does not necessarily mean a defined benefit pension plan, free healthcare, or paying a driver to sit on his butt in the break room waiting for a load)

- Communicate, communicate, communicate, and lead ... Did I mention communicate? And that is not a one way street ...

Don't see how the Teamsters get us any of that ... Vote no!
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nas250 said:
Ok SR that brings up a topic I have yet to fully understand.
Railway Labor Act.
Research needed on my part I know,but I do learn quite a bit from TB.
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From what I've learned Express is under that act because it was started with more reliance on planes. UPS Parcel was started with trucks. They aren't under it.

To organize Fedex Express under the Railway Act it requires that you organize the whole company not just terminal by terminal as is allowed at Fedex Freight because they are trucking not planes like Express.

That is how I interpret it. But a lawyer, I am not.
 
A balance sheet thing to hit short term goals to " line the pockets" of the top execs?


Profits Without Prosperity - Harvard Business Review

EX396 said:
FedEx's annual report shows the Freight Segment with a revenue of $5.757B and employee compensation at $2.444B which is 42.45% Significantly higher than your graph shows. Unsure if UPS's bar would also increase by a similar amount.

UPS's annual report segments their revenue (Freight was $2.882B), but does not segment their employee compensation.

Answer: Repurchase of company stock is a Balance Sheet thing, not a Profit and Loss thing.
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slavenomore said:
How many peoole are not getting paid at customers while they sit on their butts waing for late ltl's to come in?
Most are still on the clock. Time is money. Nobody wants to give it away in the market.

Negotiations and the contract will bring communication which is productive and for both parties....not just one
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Well, unless the customer is Union (or severely stupid, or more likely both) I would hope the answer is "none" ... Why would anyone sit on their butt if there is work to do? Because of "work rules" that exactly define what work you can and cannot perform?

You summarized my biggest beef with being an onion shop
 
Wrong. Im talking about dockworkers at mostly nonunion shops who will wait for the last ltl's to come in so they get all their shipments out for the day. They wait past closing time. Thats the only thing left TO do for the day. Alot of union shops wont wait. A close time is a close time.


hohumm said:
Well, unless the customer is Union (or severely stupid, or more likely both) I would hope the answer is "none" ... Why would anyone sit on their butt if there is work to do? Because of "work rules" that exactly define what work you can and cannot perform?

You summarized my biggest beef with being an onion shop
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hohumm said:
Believe it or not, PT Motor is about $0.70 per (one-way) mile more expensive than company ... Two reasons we would be running PT in balanced lanes:

We don't have the drivers to run freight against freight on one end or another

Or

We are not that bright and don't have a good handle on the network

Your call ... And many parts of the NorthEast have a lot more freight coming in than out, especially if you get up into NE
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We're regularly loading P/T trailers going to HFD, some 820 miles away, NHS is about 550, POS is about 670, and HGR is about 482. How many road runs are avoided, out of just 1 little center, effecting centers all along the way? All these have very little freight coming back south?

Just questions...
 
I don't believe P/T is that much more expensive. If your math shows that it is costing you 70cents per mile more to utilize P/T then what costs are you excluding?

The company power equipment wasn't cheap. That trailer cost money. Both cost money to maintain, register and insure. Employees cost money to acquire. You have those employees' wages, their benefits, the employer taxes that you pay on their wages, their workers' compensation insurance, their uniforms....it all adds up.
 
Here are the numbers going way back. You've seen the 2012-2014 in the 1st excerpt, but lets see if the pattern persists.

fxffe2014b.jpg

http://annualreport.van.fedex.com/2014/docs/FedEx_2014_Annual_Report.pdf


http://investors.fedex.com/files/doc_financials/annual/FedEx_AR_2011.pdf


http://www.fedex.com/us/investorrelations/financialinfo/2008annualreport/fedex_annual08.pdf


http://www.fedex.com/us/investorrelations/downloads/annualreport/2005annualreport.pdf

NOTE: From 2005 back, they didn't show percentages, so we're left to do our own math. Salaries and employee benefits as a % of revenue: 2005/51.29%, 2004/53%, 2003/53.3%


http://images.fedex.com/us/investorrelations/downloads/annualreport/2002annualreport.pdf?link=4

NOTE: 2002 shows the highest Salaries and employee benefits as a percentage of revenue @ 59.69%. and Purchase Transportation was the lowest @ 2.9%. Incidentally that was the 1st full year of FedEx ownership of AF. 2001 numbers are not suitable for comparison per the report.

Big difference between Years
2014 vs 2002
42.5% vs 59.69% Salaries and employee benefits as a percentage of revenue.
17.1% vs 2.9% Purchase Transportation as a percentage of revenue.

See the trend?
 
SwampRatt said:
Big difference between Years
2014 vs 2002
42.5% vs 59.69% Salaries and employee benefits as a percentage of revenue.
17.1% vs 2.9% Purchase Transportation as a percentage of revenue.

See the trend?
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I certainly do, the more PT they utilize the more money they are saving ;)

59.6% in 2014 vs. 62.6% in 2002.
 
Yes, RC.

Pretend it's your company. You have 2 sets to move: 1 is 50,000# the other is a set of empty pups. Which one is going to put more wear and tear on your equipment and which one is going to cost more fuel? When the PT charges by the mile you give him the heavy, fuel burning, tire scrubbing, engine-wearing load.

There is some control lost by utilizing PT, so there is a balance that must be struck. If your employees think their job is the next one to be farmed out there is an intangible cost to consider as well.
 
But when there is only one set to be moved and you load the PT and then have to run empty right alongside to meet/cover freight going the other way you're saving money?
I must give you credit sir, your drugs are much better than mine.
 
Richard Cranium said:
But when there is only one set to be moved and you load the PT and then have to run empty right alongside to meet/cover freight going the other way
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...and then have to run empty means you have to move 2 sets.

I must give you credit sir, your drugs are much better than mine.
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I was going to suggest a prescription change as you are still referring to yourself in the 3rd person too often.
;)
 
You forget to mention the biggest cost: The lack of trust instilled in the drivers eho drive trucks and wear clothes with your company name on it.

That can run into some high costs in more negative ways than you think.
Like a married man messing around right in his wifes face.


Put it on paper. Sign the contract. It aint just Fedex house. Whats good for the goose is good for the gander. Ya shouldnt fear loss when the hoes come around.


EX396 said:
...and then have to run empty means you have to move 2 sets.



I was going to suggest a prescription change as you are still referring to yourself in the 3rd person too often.
;)
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EX396 said:
I certainly do, the more PT they utilize the more money they are saving ;)

59.6% in 2014 vs. 62.6% in 2002.
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Good. Use them to the hilt so they can all build little companies where they dont make money the good companies stop making money cause they're hauling all the freight for nothing and you and your boss types stop making money too.

The only ones making out on the PT deals are the banks.....that that guy owes money too. And after he st9ps paying and a million others like him . We end up bailing the damned banks out with our taxes.
 
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