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FedEx Freight | Fdx Cuts Its Tax Bill To $0.00

joe bucker said:
Just want to say thanks. I love the part about cutting bonuses and not investing as much into FDX.
https://www.nytimes.com/2019/11/17/business/how-fedex-cut-its-tax-bill-to-0.html
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I personally have no problem with "the zero tax paid" part of the story. THAT is the whole incentive for Companies to invest DIRECTLY into the economy, creating jobs, etc. 6 Billion directly into the economy. This bypasses the Federal Government's wasteful, inefficient, corrupt way of returning funds to the economy.

The troubling part, to me? CUTTING INCENTIVES within the Company, and Reducing benefit(s), while still expecting positive results. All based on the narrative that we take one for the (bigger) team. Meanwhile the Tax (rate) windfall continues.
 
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Oh, FedEx responds...

Statement from Frederick W. Smith, Chairman and CEO of FedEx Corporation

https://about.van.fedex.com/newsroo...-smith-chairman-and-ceo-of-fedex-corporation/

"I hereby challenge A.G. Sulzberger, publisher of the New York Times and the business section editor to a public debate in Washington, DC with me and the FedEx corporate vice president of tax. The focus of the debate should be federal tax policy and the relative societal benefits of business investments and the enormous intended benefits to the United States economy, especially lower and middle class wage earners."

:fan:
:popcorn:
 
SwampRatt said:
Oh, FedEx responds...

Statement from Frederick W. Smith, Chairman and CEO of FedEx Corporation

https://about.van.fedex.com/newsroo...-smith-chairman-and-ceo-of-fedex-corporation/

"I hereby challenge A.G. Sulzberger, publisher of the New York Times and the business section editor to a public debate in Washington, DC with me and the FedEx corporate vice president of tax. The focus of the debate should be federal tax policy and the relative societal benefits of business investments and the enormous intended benefits to the United States economy, especially lower and middle class wage earners."

:fan:
:popcorn:
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I like how he doesn’t specifically deny anything or state exactly what was factually incorrect.
 
I'm iffy about anything under the New York times banner. This article feels like an attempt to bash FedEx because of Smith's relationship with Trump.

I believe FedEx shafted us and they could have done a lot better, but this article has a lot of cherry picking. It's about as believable as a CEO video or a story on the intranet.
 
Streaker69 said:
I'm iffy about anything under the New York times banner. This article feels like an attempt to bash FedEx because of Smith's relationship with Trump.

I believe FedEx shafted us and they could have done a lot better, but this article has a lot of cherry picking. It's about as believable as a CEO video or a story on the intranet.
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I dunno, this coupled with the fact that they will no longer offer a pension to new hires?? They may need damage control with their image soon
 
Clandestine_ice said:
I dunno, this coupled with the fact that they will no longer offer a pension to new hires?? They may need damage control with their image soon
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How ya figure Ice? New hires will benefit the most, IMHO.

I'm critical of FedEx when criticism is due, but on this, WHAT's NOT to LIKE? If you like the current deal, stay with it. Pretty cool to have the option.

If anyone thinks sympathy is due for new hires, consider the fact that the new 401k plan will offer a 200% match on 1% and 2 % contribution rates, typical of younger workers. WOW! I can only imagine if we had that kind of match when I started. It seems to me for any younger worker, the choice is a no brainer.

I just don't see where damage control is in order for such a GREAT Benefit improvement There are plenty of topics to be critical of the Company on, But this one AINT IT, IMHO.
 
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SwampRatt said:
How ya figure Ice? New hires will benefit the most, IMHO.

I'm critical of FedEx when criticism is due, but on this, WHAT's NOT to LIKE? If you like the current deal, stay with it. Pretty cool to have the option.

If anyone thinks sympathy is due for new hires, consider the fact that the new 401k plan will offer a 200% match on 1% and 2 % contribution rates, typical of younger workers. WOW! I can only imagine if we had that kind of match when I started. It seems to me for any younger worker, the choice is a no brainer.

I just don't see where damage control is in order for such a GREAT Benefit improvement There are plenty of topics to be critical of the Company on, But this one AINT IT, IMHO.
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I agree it sounds great I'm just waiting on a catch though.
 
SwampRatt said:
How ya figure Ice? New hires will benefit the most, IMHO.

I'm critical of FedEx when criticism is due, but on this, WHAT's NOT to LIKE? If you like the current deal, stay with it. Pretty cool to have the option.

If anyone thinks sympathy is due for new hires, consider the fact that the new 401k plan will offer a 200% match on 1% and 2 % contribution rates, typical of younger workers. WOW! I can only imagine if we had that kind of match when I started. It seems to me for any younger worker, the choice is a no brainer.

I just don't see where damage control is in order for such a GREAT Benefit improvement There are plenty of topics to be critical of the Company on, But this one AINT IT, IMHO.
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Sorry, didn't thoroughly read it.
 
Crazy Trucker said:
I agree it sounds great I'm just waiting on a catch though.
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I am too. I like FedEx, but they're not overly generous, just look at the 150 penalty. If it were a standard 100% match of 6%, I'd believe that. 8% is a big bump and normally I'd take advantage of that, but I can't help wait for the "gotcha". I bumped my 401k to 5% as soon as i figured out how to, for the match.
 
Streaker69 said:
I am too. I like FedEx, but they're not overly generous, just look at the 150 penalty. If it were a standard 100% match of 6%, I'd believe that. 8% is a big bump and normally I'd take advantage of that, but I can't help wait for the "gotcha". I bumped my 401k to 5% as soon as i figured out how to, for the match.
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You need to bump it to 6% to get the full company match
 
Streaker69 said:
I am too. I like FedEx, but they're not overly generous, just look at the 150 penalty. If it were a standard 100% match of 6%, I'd believe that. 8% is a big bump and normally I'd take advantage of that, but I can't help wait for the "gotcha". I bumped my 401k to 5% as soon as i figured out how to, for the match.
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So, if the Company was contributing less, you'd be more inclined to go that route? :scratchhead:

Any risk of future changes apply equally to both options, IMHO.

The high match is possible due to the fact that a significant percentage never choose to maximize the benefit.
 
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