FDX 4th quart earnings

[fr8doggie]

They were good

 

[FerrisBueller]

Where's the Checkbook?

The biggest lesson learned from the release was they expect to spend $2.9 billion on capital spending, and the pensions are fully funded. They can even be quoted in the conference call as saying they are "not worried about the checkbook for next year". Additionally, they rose the dividend to 9 cents a share, but pilot pay is frozen at dec '03 wages.

If all is so good, how come they haven't brought the checkbook to negotiations?

 

[fr8doggie]

If all is so good, how come they haven't brought the checkbook to negotiations?

Because, unfortunately we as a group have not convinced executive management that we are serious about finishing negotiations now.

 

[PurpleTail]

If all is so good, how come they haven't brought the checkbook to negotiations?

It's called NO Respect from mgmt for the pilot groups efforts.

The way the current government and NMB is set up the company has no incentive or recourse for negoitiating a better contract. Only the pilots have the power to force the companies hand. Most are doing what they can by making 'good personal choices' but there are still just enough bending over backwards for the company to keep the freight moving.

This is going to be a very tense Peak season coming up with still no contract in sight. Fly 100% of your schedule and not a minute more, thats what I'm doing.

 

[FerrisBueller]

Because, unfortunately we as a group have not convinced executive management that we are serious about finishing negotiations now.

I'm not sure it's executive management we need to convince. I think it is the shareholders like Goldman, Bear Stearn, Fidelity, Vanguard. What will happen to the stock if word is out the pilots are ready for self-help? Executive management, with all their shares, will likely get the picture, eh?

Management owns millions of shares at $120 per share, so that makes our contract request look like peanuts. Pretty soon the shareholders above will ask why management is willing to put their shares in jeopardy for peanuts. If you haven't gone to the investor site and listened to the webcast, I urge you to do so. It was almost pathetic. They didn't spend what they had forecast last year for capital expenditures. Even after Watkins and DTW, they will have nearly a billion cash leftover in the first quarter. I'm beginning to feel sorry for them with all their problems. . .:bawling:.

 

[PurpleInMEM]

If all is so good, how come they haven't brought the checkbook to negotiations?

Because they have no incentive to. Our customers don't even know we're in negotiations, nor do they care. The only way to make them care is to slow things down or stop them, which I'm convinced no one here has the stomach for. Hell we won't even use the term "Strike Preparedness", we use "Strategic Preparedness".

It's all about greed; they want more, we want more. It's the mantra of capitalism. Unfortunately they make the rules, own the judges and, especially now, control the idiot in the whitehouse.

Affect the satisfaction of their greed and your demands will be met...the question is who's greed, ours or theirs, will make one flinch first.

I'm guessing, as usual, it will be ours.

 

[FerrisBueller]

It's all about greed; they want more, we want more. It's the mantra of capitalism. Unfortunately they make the rules, own the judges and, especially now, control the idiot in the whitehouse.

Affect the satisfaction of their greed and your demands will be met...the question is who's greed, ours or theirs, will make one flinch first.

I'm guessing, as usual, it will be ours.

That's not it . . . it's business. Simply business. But the longer they wait the longer they put their own equity at risk. I don't believe greed has anything to do with this, since we are not asking for the moon -- just cornerstone issues.

Anyone know the member 'hook'? They are watching -- could it be management? Huh, no flight time and one post. Really?

 

[VaB]

They were good

"Net income of $568 million was up 27% from a year ago."

Yeah, that's pretty good. However, no soup for you.

 

[Falconjet]

Some numbers from the union about the 2006 earnings:

• Revenue of $32.3 billion, and increase of 10 percent from fiscal year 2005
• Operating income of $3.01 billion, up 22 percent from fiscal year 2005
• Net income of $1.81 billion, a 25 percent increase from fiscal year 2005
• Earnings per share of $5.83, a 24 percent increase from fiscal year 2005
• Cash flow from operations allowed $2.5 billion in capital expenditures, the repayment of $369 million in debt, and another $.01 increase in the shareholder dividend to $.09 per share

You know, pretty soon you are going to be talking about real money around here.

FJ

 

[Deuce130]

It's all about greed; they want more, we want more. It's the mantra of capitalism. Unfortunately they make the rules, own the judges and, especially now, control the idiot in the whitehouse.

GW hasn't flown any draft or volunteer, sold back his vacation, or raided open time. To say that Fred Smith owns the white house is one of the reasons we don't have a contract is asinine. Stick to the talking points - the FDX pilot group is not doing all we can do and management is evil.