Jakester, close but not exact.
I read the message from Doug D. on the bulletin board yesterday; basically it says that starting in June (beginning of fiscal year), all local sales for FXF and FNL will work for FedEx Freight System instead of their current operating company (East, West, or FNL). System is the company created a few years ago to combine East and West customer service, IT, marketing and a few others. I think they've already pulled in those same departments at National.
System is a Freight company, which is different than FedEx Corp., which is the company that owns all the other companies.
Those I talk to who work for System instead of an opco report nothing different about the day to day stuff, except their check says System and is signed by Doug instead of Larry or Mike or Chip.