FDX: Company offering PLOA's
06-30-2008, 06:36 PM
#31
Gets Weekends Off
Joined APC: Aug 2006
Position: leaning to the left
Posts: 4,184
I have a Pilot Benefit Book that was sent to me earlier this year. It has all the old health care program benefits in it. Apparently, no one knew we were going to a new health plan?
06-30-2008, 06:46 PM
#32
Gets Weekends Off
Joined APC: Mar 2008
Posts: 609
From the news clip on pilot.fedex.com
For the fourth quarter, the FedEx Express segment reported:
"Operating margin" = percent profit margin
So......while profits WERE down (year over year from the same quarter last year).....
FedEx Express still made $426 million and a 6.7% profit margin for the quarter.
That would equate to a PROFIT of $670.00 on your $10K investment - for the 3-month period referenced in this article.
(quite a bit more than $0.04)
the big question still remains.....can we sustain that level of profit if the price of oil keeps going up? is there a limit to how much fuel surcharge shippers are going to be willing to keep paying? we're already at record high surcharge levels now......
For the fourth quarter, the FedEx Express segment reported:
- Revenue of $6.37 billion, up 9% from last year’s $5.83 billion
- Operating income of $426 million, down 31% from $613 million last year
- Operating margin of 6.7%, down from 10.5% the previous year
"Operating margin" = percent profit margin
So......while profits WERE down (year over year from the same quarter last year).....
FedEx Express still made $426 million and a 6.7% profit margin for the quarter.
That would equate to a PROFIT of $670.00 on your $10K investment - for the 3-month period referenced in this article.
(quite a bit more than $0.04)
the big question still remains.....can we sustain that level of profit if the price of oil keeps going up? is there a limit to how much fuel surcharge shippers are going to be willing to keep paying? we're already at record high surcharge levels now......
06-30-2008, 06:53 PM
#33
Gets Weekends Off
Joined APC: Mar 2008
Posts: 609
yeah..the board of directors really care about PCs daughter..please!..you guys do know who is calling the shots?...don't you?
Last edited by BOYCAPTAIN; 06-30-2008 at 07:04 PM.
06-30-2008, 07:08 PM
#34
Living the dream!
Joined APC: May 2006
Position: MD-11 Capt
Posts: 915
to keep all the pilots on property.SFS is great today. I hate to see it go.
Last edited by R1200RT; 07-01-2008 at 12:58 AM.
06-30-2008, 08:00 PM
#35
...Whatever It Is!
Joined APC: Jul 2006
Posts: 4,680
The Boy is right if there is a RIF PC will be told when and how. He is just the messenger. You guys give our flight managment team (giggle) way too much credit. Like us do what they are told. I'm sure they are doing their best to keep all the pilots on property.
SFS is great today. I hate to see it go.
to keep all the pilots on property.SFS is great today. I hate to see it go.
06-30-2008, 10:15 PM
#36
Gets Weekends Off
Joined APC: Aug 2006
Posts: 356
This is going to hack a lot of people off but I got to say it. It gets to a point that you have to say, "shared pain can only go so far." If you took this job at Fedex thinking you had life-long-job security, you were smoking your boxers. This industry is the most unpredictable, chaotic profession any of us can imagine. So when we, the bottom 5% of the seniority list, ***** and moan because the "f" word is thrown around, while every other swingin schwanson on the property has his income systematically reduced until his pay is cut by more than 25%, there comes a point where you gotta stop the communal pain. Any other business in the world starts missing budget, the first place they cut is personnel. Yep, we're making money. But Wall Street (and our investors)really don't care if we make money. They expect us to make our EBITDA projections and add value to their stock. And that isn't happening!
There isn't a guy on the seniority list right now who can honestly look around and say we aren't seriously overstaffed. Reserves never fly and line-holders rarely drop trips because they know they can't pick up anything in open time to make it up. If DW and the company wouldn't have bastardized the bid process and given the ND's their front seats back when there weren't legitimate openings we would be looking at a completely different landscape as far as pilot progression. DW and PC screwed us and that's it. Case closed. About 150 undeserving guys were allowed to move back to the front seat without legitimate openings. But that's history now.
I've been furloughed before. In the first batch of guys to hit the streets if it happens here. I'll live. My advice for the bottom 500 guys is to start looking at other opportunities before that light at the end of the tunnel runs you over.
There isn't a guy on the seniority list right now who can honestly look around and say we aren't seriously overstaffed. Reserves never fly and line-holders rarely drop trips because they know they can't pick up anything in open time to make it up. If DW and the company wouldn't have bastardized the bid process and given the ND's their front seats back when there weren't legitimate openings we would be looking at a completely different landscape as far as pilot progression. DW and PC screwed us and that's it. Case closed. About 150 undeserving guys were allowed to move back to the front seat without legitimate openings. But that's history now.
I've been furloughed before. In the first batch of guys to hit the streets if it happens here. I'll live. My advice for the bottom 500 guys is to start looking at other opportunities before that light at the end of the tunnel runs you over.
07-01-2008, 01:01 AM
#40
Ready for a nap
Joined APC: Mar 2007
Position: md11
Posts: 223
The Boy is right if there is a RIF PC will be told when and how. He is just the messenger. You guys give our flight managment team (giggle) way too much credit. Like us do what they are told. I'm sure they are doing their best to keep all the pilots on property.
SFS is great today. I hate to see it go.
to keep all the pilots on property.SFS is great today. I hate to see it go.
I was told that PC wanted the RIF a long time ago, but his higher-ups told him NO WAY. They do not want the perception of weakness sending the wrong message to Wall Street.
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