News: FedEx bid/new hires/meet-n-greets

[Goose17]

From the Chief Pilot:

Expectations. Sizable bid (whatever that means) in March or so, 30 newhires a month or so, meet and
greets to resume maybe late January or so, Company earnings tomorrow morning…or so.


Goose17

 

[Falconjet]

More good news from a company press release:



"MEMPHIS, Tenn., December 21, 2005 ... FedEx Corporation (NYSE: FDX) today reported earnings of $1.53 per diluted share for the second quarter ended November 30, compared to $1.15 per diluted share a year ago, an increase of 33%.


FedEx Corp. reported the following consolidated results for the second quarter:

• Revenue of $8.09 billion, up 10% from $7.33 billion the previous year
• Operating income of $790 million, up 32% from $600 million a year ago
• Operating margin of 9.8%, up from last year's 8.2%
• Net income of $471 million, up 33% from $354 million the previous year

"Customer demand for our broad portfolio of transportation services, a disciplined pricing approach by FedEx and strong productivity gains led to a sharp improvement in our operating margins," said Frederick W. Smith, chairman, president and chief executive officer. "FedEx is also benefiting from solid economic growth year over year in the U.S. and Asian economies, which we expect to continue in 2006."


Last year's second quarter included two one-time items which negatively affected earnings by a net $0.06 per share: A one-time charge of $48 million or $0.10 per diluted share related to the company's claim for compensation under the Air Transportation Safety and System Stabilization Act, partially offset by a $0.04 per diluted share tax benefit resulting from the passage of the American Jobs Creation Act of 2004.


Total combined average daily package volume at FedEx Express and FedEx Ground grew 3% year over year for the quarter, led by improved international express package growth. Yield management actions in U.S. deferred services at FedEx Express to improve profitability boosted yields while resulting in lower volume. FedEx Ground volumes were weaker than expected, but strengthened in the last two weeks of November and continue to strengthen in December. The higher FedEx Ground growth trend is expected to continue in the second half of the fiscal year.


Outlook
FedEx expects third quarter earnings to be $1.15 to $1.30 per diluted share. The company increased its earnings guidance for the year to $5.45 to $5.70 per diluted share from its previous guidance of $5.25 to $5.50 per diluted share, which includes the net effect of a $0.15 per share lease accounting charge in the first quarter. Excluding the impact of the lease accounting charge, earnings for the year are expected to be $5.60 to $5.85 per diluted share. The capital spending forecast for fiscal 2006 remains approximately $2.5 billion.


"We exceeded our original forecast for the second quarter due to outstanding operational performance and the deferral of certain advertising and promotional expenses to the second half of the fiscal year," said Alan B. Graf, Jr., executive vice president and chief financial officer. "Our increased earnings guidance for the full year reflects confidence in our ability to continue executing our business strategy, manage our cost structure and leverage sustained economic growth."



For the second quarter, the FedEx Express segment reported:

• Revenue of $5.37 billion, up 11% from last year's $4.83 billion
• Operating income of $476 million, up 43% from $333 million a year ago
• Operating margin of 8.9%, up from 6.9% the previous year

FedEx International Priority (IP) revenue grew 14% for the quarter. IP average daily package volume grew 8%, due to strong growth in Asia and Europe and continuing growth in U.S. export. IP revenue per package grew 5%, primarily due to higher fuel surcharges. U.S. domestic express package revenue increased 8%, as U.S. domestic revenue per package increased 7% and U.S. domestic volume increased 1%. The increase in U.S. domestic revenue per package was mainly driven by higher fuel surcharges and an increase in average rate per pound.


FedEx Express operating margin improved significantly year over year, benefiting from solid growth in IP revenue and significant improvement in productivity. Also, last year's operating margin was negatively affected by the one-time charge related to the company's claim for compensation under the Air Transportation Safety and System Stabilization Act".


Looks like things should keep looking up in terms of hiring for the next year or so at least. With all those profits I wonder why we can't seem to agree on a new contract?!? Interestingly enough, ground also increased 11% over last year, so they can't say that the Express division isn't keeping up with the Jones'.

FJ

 

[PurpleTail]

Give me my piece of the pie please, a big fat slice to be exact!

 

[stonewall]

Hey, times are tough. Economy is down, fuel is up, war, strife, terrorism. I know nearly half a BILLION $$ a quarter SEEMS like a lot, but after you factor in all the bonuses paid to top execs, there really isn't a lot left over for the workforce.

Like I said, times are tough.

 

[semperfido]

avg bonus on wall street=500k....times are tough

 

[stonewall]

avg bonus on wall street=500k....times are tough

Sure, they make a lot. But what you gotta understand is that they spend alot, too.

 

[psysicx]

Except for the oil companies.

 

[miles otoole]

Give me my piece of the pie please, a big fat slice to be exact!

Oink, oink.

 

[Deuce130]

Oink, oink.

Yep, yep. Get it on paper now while things are good. But, as Laughing Jakal used to say in a previous career, "Pigs get fat, hogs get slaughtered."

 

[fareview]

semperfido wrote...avg bonus on wall street=500k....times are tough

Whats your point?

 

[stonewall]

semperfido wrote...avg bonus on wall street=500k....times are tough

Whats your point?

sarcasm

 

[semperfido]

s/f magnum

 

[QXpeon]

semperfido wrote...avg bonus on wall street=500k....times are tough

Whats your point?

The point his that they are overpaid genius....

And you guys went to college......

 

[fareview]

The point his that they are overpaid genius....

And you guys went to college......

I suspect none of you guys have ever worked on Wall St. Anybody who makes 500k on the street has earned it. Wall St is a meritocracy...if you don't produce - your done. A seniority number is nothing of the kind.

So now tell me why someone is overpaid @ 500k on Wall St?

And before you ask, I did 11 years on the street.

 

[Deuce130]

the street.

Is that what you guys called it? Is that to make it sound tougher?

 

[fareview]

Is that what you guys called it? Is that to make it sound tougher?

yep and nope...ever fly the line?

 

[Deuce130]

yep and nope...ever fly the line?

Depends on which line you're referring to. But, I can honestly say, that short of saving someone's life, developing a cure for cancer, or feeding the hungry, there aren't many people out there who deserve 500,000$ "bonuses." To say that people work for them and deserve them is ridiculous. Work? You mean pushing papers and crunching numbers? That's worth half a million in bonuses? Corporate greed and excesses are well documented. If I were working on "the street," I'd take my money and very quickly shut the f*ck up. You can't defend it and you certainly can't beat your chest and act like you deserve it.

 

[VaB]

Depends on which line you're referring to. But, I can honestly say, that short of saving someone's life, developing a cure for cancer, or feeding the hungry, there aren't many people out there who deserve 500,000$ "bonuses." To say that people work for them and deserve them is ridiculous. Work? You mean pushing papers and crunching numbers? That's worth half a million in bonuses? Corporate greed and excesses are well documented. If I were working on "the street," I'd take my money and very quickly shut the f*ck up. You can't defend it and you certainly can't beat your chest and act like you deserve it.

You don't think guys like Fred, Bill Gates, Steve Jobs, etc. deserve to make more than a half mil per year? I do. I'm sure there are some guys out there that make alot that shouldn't, but the guys leading the way certainly deserve to make alot.

I also think we need to find a way to pay cops, firefighters, and teachers more. Starting salary for a new hire Collierville Police Officer: $17,000.

 

[stonewall]

You don't think guys like Fred, Bill Gates, Steve Jobs, etc. deserve to make more than a half mil per year? I do. I'm sure there are some guys out there that make alot that shouldn't, but the guys leading the way certainly deserve to make alot.

I also think we need to find a way to pay cops, firefighters, and teachers more. Starting salary for a new hire Collierville Police Officer: $17,000.

Those guys, yeah. But then again, they're not working on "the street." These are their companies...they own 'em. I don't think those are the dudes deuce130 is referring to.

 

[satpak77]

cry babies

you guys are cry babies, "hey has that and I don't" whining

this guy made 350 MILLION in 2003

http://www.creditinvestmentnews.com/story.asp?ISS=11406&SID=451132

http://www.businessweek.com/magazine/content/03_29/b3842001_mz001.htm

500K bonus is a drop in the bucket on Wall Street

 

[Laughing_Jakal]

Deuce, ya know I love you but I gotta disagree!

This is the third time writing this, cause some reason, flightinfo has a problem uploading my posts……..

Generally, people are worth what others are willing to pay them…ie. What they can Negotiate (Corporate Boardroom ethics not withstanding)

Bill Gates changed the world (and who said the meek wouldn’t inherit the earth?) Venture Capitalists use money as fuel to keep the whole ball of wax moving. Remember, it is easier to recognize a good idea, than come up with one yourself.

Deuce is a good guy with a strong grip on reality, but I suspect he is somewhat jaded coming from a “Service before Self” environment into the world of Airline Destabilization. One only needs to witness the shameless antics of the former Delta CFO and her fights in court to save her lifetime family positive space first class tickets after she took the money and ran.

I imagine the “Tough” guys on the Street could put enough pressure on Deuce to make him wilt or at least second guess himself in their environment. Likewise, they would probably soil themselves in the work environment (If you can call it that) that forged Deuce. They are compensated highly for performance and merit with a relatively small fraction of the “take” they produce. Deuce is from a world of personal sacrifice, dictated by the needs of God and Country. His compensation for his expertise and performance came in the form of more hard work, respect from his peers, and the personal knowledge of serving his Country as a Quiet Professional.

Apples and Oranges, but this Country needs both.

Everyone is in business to make a little scratch…you and me included, otherwise we would fly for fun like my banker friend. Not to say you can’t have fun while doing it, this is business, no more, no less. Personally, I don’t like to fly with guys that take this job as a hobby. They are either sloppy, dangerous, or both.

If you want a friend, get a dog. If you want to fly for fun, buy an airplane. If you want to get paid to fly commensurate with your experience and professionalism, then:

1) Join the Association
2) Show up to work on time, be rested, prepared, and competent
3) Fly safely and professionally
4) Move the freight
5) Let the Negotiating Committee speak for you
6) Support them and do the small things they ask of you to support your common goals….after all YOU hired THEM.

Let the “Street” guys get what they negotiate. Help us get what we can Negotiate…..The pie is pretty big….and we’re worth it.

Goggles up…I’m done.

 

[Laughing_Jakal]

By the way....THAT was funny.

Deuce130Quote:
Originally Posted by fareview
the street.


Is that what you guys called it? Is that to make it sound tougher?

 

[dtfl]

You don't think guys like Fred, Bill Gates, Steve Jobs, etc. deserve to make more than a half mil per year? I do. I'm sure there are some guys out there that make alot that shouldn't, but the guys leading the way certainly deserve to make alot.

I also think we need to find a way to pay cops, firefighters, and teachers more. Starting salary for a new hire Collierville Police Officer: $17,000.

I agree with your post whole heartedly

 

[Laughing_Jakal]

DTFL,

What do you know? You are just a humpy non-penetrating tanker?

 

[dtfl]

ha ha - remember they took those off with the SOF mod
And I left AFSOC - I had my labotomy repaired and went to fly a C130 that was produced after 2000.

 

[Laughing_Jakal]

True

But the scars remain forever

 

[PastV1]

dtfl,
Where do you fly the J?

Past....

 

[Deuce130]

You don't think guys like Fred, Bill Gates, Steve Jobs, etc. deserve to make more than a half mil per year? I do. I'm sure there are some guys out there that make alot that shouldn't, but the guys leading the way certainly deserve to make alot.

I also think we need to find a way to pay cops, firefighters, and teachers more. Starting salary for a new hire Collierville Police Officer: $17,000.

I do think some people deserve to make .5 mil and much, much more. What I object to is the army of suits on wall street that commandeer the money of others in order to line their own pockets and then receive BONUSES of 500K or more per year. It's the distribution of obscene bonuses at the end of the year to bean counters and management suits that makes me roll my eyes and wonder what the he!! is wrong with the world. Just take a look at the year end bonuses of FDX corporate types. Hard to swallow when they try to squeeze every bit they can out of labor. But, yes, even some of them should earn 500K SALARY or more, for thier efforts keep companies in business that employ workers who buy stuff and etc etc that keeps the economy rolling. See the difference?

 

[fareview]

I do think some people deserve to make .5 mil and much, much more. What I object to is the army of suits on wall street that commandeer the money of others in order to line their own pockets and then receive BONUSES of 500K or more per year. It's the distribution of obscene bonuses at the end of the year to bean counters and management suits that makes me roll my eyes and wonder what the he!! is wrong with the world. Just take a look at the year end bonuses of FDX corporate types. Hard to swallow when they try to squeeze every bit they can out of labor. But, yes, even some of them should earn 500K SALARY or more, for thier efforts keep companies in business that employ workers who buy stuff and etc etc that keeps the economy rolling. See the difference?

Deuce,

Who are these bogeymen in suits that commandeer people’s money and get paid 500k in bonuses?

Are you getting confused with the likes of Kozlowski, Skilling, Rigas, Ebbers etc.

Believe it or not the vast majority of guys and gals who work in the markets are remarkably similar to the pilots I now fly with. They all enjoy a cold one after a long days work; they are for the most part ethical and professional; they are well educated and at the end of the day they want to take home a piece of the pie so that their kids get a step up on life. Many of them, including myself , also serve(d) in the reserves. Are there exceptions? Yes, of course, just like we have them in our ranks or in any walk of life. But don’t let the headlines dictate your opinion on the people who work in the markets (I have dropped ‘the street’ for sensitivity purposes).

Look, I mean this in a nice way, but you need to expand your reading to get a grip on whats going on out there. There are a lot of people in this economy who make 500k plus. The U.S. accounts for roughly 5% of the worlds population yet contributes over 20% of global GDP. To put that in perspective China reflects roughly the inverse. We are a financial behemoth. The reason for this is because we as Americans pull our weight. Whether you are an entrepreneur, a large corp., a member of the military, an accountant, a plumber etc. we all contribute.

The financial epicenter of this giant is represented by the financial services primarily based in New York (Chicago, Philly etc). Trillions of dollars in marketable securities exchange hands everyday. It is an extremely complex and high pressured environment. “Paper pushing” and “number crunching” do not get you a paycheck.. Taking risk does. Risk involves pressure – some people handle it better than others. The reason you get paid well is directly related to performance. For every guy in a good trading company there are a hundred trying to get his job. You are constantly under the gun to perform because if you don’t – you’re out – its that simple. If you think getting on with a major is competitive, try getting a position with Goldman or Lehman on one of their good desks. Thousands of guys and gals complete with their Wharton et al MBA ‘s are standing in the line.

Its called capitalism, it’s the only system that works well; (cue; Cuba, N.Korea, Zimbabwe etc for the alternatives) Heck even Mao’s masses are embracing it.

The difference between flying and trading is that I know now (subject to the health of myself and my company) that every year I will get a pay raise no matter how well I land the plane. With trading - age can work against you because pressure takes its toll. That’s why putting your financial future in the line everyday commands my respect.

They may not save lives or cure cancer or feed the hungry directly but the people on Wall St give their piece to Uncle Sam which pays for the uniform that you and I both wore. Commandeering our money – I think not.


Respectfully,

Fareview

 

[Rez O. Lewshun]

Deuce,



Look, I mean this in a nice way, but you need to expand your reading to get a grip on whats going on out there.

Fareview,

This is what I keep trying to tell them!

Good reading. Until one speaks from a balanced and objective viewpoint they are only going to seen as extreme, ingorant or biased....