FedEx contract?

[moneyshooter]

I truly don't want to see a flame war start here, but in very general terms, could the FDX folks speculate as to whether they think the upcoming contract will result in any substantial changes? How much do the concessions taken by self-loading cargo companies affect the negotiations of the cargo industry? I am just wondering about the general feeling out there.

 

[MadDogPilot]

What do you mean by self-loading, and what concessions?

On a side note, what do you FDX guys think for us poolies with regards to time we will have to spend on the panel? No complaints, just the wife and I trying to spread out my military retirement and plan for the next 5 years. With the move to replace the 3-seaters to 2-seaters, and slow hiring/growth, I would speculate 3-4 years on the 727 panel, if I get out of he pool this year. Anyone?

The Mad Dog

 

[Goose17]

no clue

As far as how long on the panel. Really, no one has a clue. I could guess, but it would be something I pull out of my donkey. Time spent on the panel has varied for new hires from no time at all upwards of 5 years. As for me, I thought it would be about a year. I just finished my second year. It looks like hiring will pick up soon and we will have some movement. The retirements will force hiring indefinitely. I would not expect another long dry spell in hiring in the moderate future.

Good luck.

Goose17

 

[TonyC]

The freight business is healthy, and FedEx is extremely healthy. The health of passenger airlines does not have a direct bearing on the compensation due the employees of FedEx. Witness the recent cash purchase of kinkos for 2.4 BILLION....

lemme see here, count the zeros....

2,400,000,000 dollars

FedEx recently announced meager wage increases for the mechanics. The board just announced a 6 cent dividend on stock shares.

I think we should expect a respectable reward for our contributions.

 

[TonyC]

Did I mention it was TWO POINT FOUR BILLION CASH???

 

[MadDogPilot]

Thanks for the info, for guys that responded. ANyone else see anything is their crystal ball?

The Mad Dog

 

[Huck]

I think there are probably about 20 MBA's and JD's sitting around Memphis every day, thinking up ways to cut costs in the next contract. And failing that, how to delay as long as possible.

Sorry, boys, but I been through this before. If we get a new contract before 2007 I'll scream "Roll Tide" and eat eggs benedict. And I HATE both....

 

[TonyC]

If we get a new contract before 2007 I'll scream "Roll Tide" ...

I wouldn't wish THAT on my enemy!

 

[767-300ER]

Don't know about Fedex's tactics, but UPS is also in negotiation right now. Our main changes can be summarized as

PRESS.

Pay (industry leading-- finally)
REtirement (ditto)
Scheduling (build better lines. Quality of life sucks for many fleets)
Staffing

I think it's fair to say we and FedEx will be standouts in terms of pay, retirement, and stability a couple years out.

 

[PSL]

TonyC:

You weren't kidding, were you ... 2.4 billion cash ?

As in no promissory notes, debt assumptions, corporate depentures or other 'accounting' games to mean ... nearly cash.

If that's the case ... that's 102% of our (SWA) total unrestricted cash the last time I checked.

Best of luck with your negotiations. I did your type of work years ago on the MD-11 and have the utmost respect for you and the services FEDEX, UPS, ABEX, et. al. provide our economy.

 

[Falconjet]

CASH

PSL: That was 2.4 Billion dollars CASH on the barrel. Think about that for a while. Pretty soon you are talking real money.

FJ

 

[sandman2122]

Not all cash

Only $700 million was cash, the rest financed = according to the ALPA MEC briefing in Memphis earlier this month.

If that matters at all.

 

[klhoard]

2.4B Cash

Just think how many frequent flyer miles would you have gotten if you charged that transaction on your Northwest VISA card??

 

[Gulfstream 200]

I wouldn't doubt if it was 2.4 BILLION in cash....

there are companies who make 1+BILLION/MONTH in PROFIT...yes PROFIT....

no, they are not in the avition business per say...but still - very possible!