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FedEx Freight cuts costs but improves profit as US LTL volumes shrink

  • Thread starter Journal of Commerce | Trucking Logistics › LTL
  • Start date
No F-bdy Bs said:
Sounds like time for a raise for the hourly employees (the ones that actually PRODUCE SOMETHING) since they've trimmed a lot of dead weight at the top.
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I would add that a portion of current improvements to profitability came at the expense of hourly - and the less than adequate wage increase in Oct.

Inflation is/was running at or above 8% , evidenced by Social Security increasing 8% while we got 5%. Anyone wanna bet shipping rates beat inflation? Anyone?
 
SwampRatt said:
I would add that a portion of current improvements to profitability came at the expense of hourly - and the less than adequate wage increase in Oct.

Inflation is/was running at or above 8% , evidenced by Social Security increasing 8% while we got 5%. Anyone wanna bet shipping rates beat inflation? Anyone?
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It also correlated to the switch to UHC…
 
SwampRatt said:
I would add that a portion of current improvements to profitability came at the expense of hourly - and the less than adequate wage increase in Oct.

Inflation is/was running at or above 8% , evidenced by Social Security increasing 8% while we got 5%. Anyone wanna bet shipping rates beat inflation? Anyone?
Click to expand...
I'm a gambling man Swamp but thats a suckers bet, just sayin
 
Who thinks current inflation, at 6%, will drop below the raise from last year by the time the next one is announced? There were plenty complaining about the 5% bump last year. Time to turn up the heat this year. Guys are quitting to go elsewhere to make more from this "best raise ever". With soft freight I guess it's not going to be a great retention raise.
 
The Point said:
Who thinks current inflation, at 6%, will drop below the raise from last year by the time the next one is announced? There were plenty complaining about the 5% bump last year. Time to turn up the heat this year. Guys are quitting to go elsewhere to make more from this "best raise ever". With soft freight I guess it's not going to be a great retention raise.
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Where is it they're going?
I have a couple at our center looking...
 
Road_Warrior1 said:
they sure are! But they are only missing a couple more pieces to the puzzle. We are a whole entire puzzle that loves to cancel runs lol
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Correct. They need a northeast carrier, and southwest carrier to complete their puzzle. AAA got southeast and they bought one that covers northwest.
 
mattbob said:
it is and was.......freight OR 17.7% for 3rd quarter...look it up
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My point is that an OR is whatever the percentage of profit is minus 100. An OR is a percentage. I don’t doubt your statistic, it’s just calling that an OR is wrong. The OR for the example you posted would be correctly stated as an 82.3.

If the employees worked for free and the trucks ran on air, an OR of 17.7 might be possible.

BTW, an 82 is not a bad number.
 
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