FoxHunter

Average America vs the One Percent - Forbes

I was a wide body F/O in the early 80s earning enough to be in the top 1%, as a very senior wide body captain in recent years no longer in that 1% range. Those that claim they will reduce your taxes. The problem is done by reducing your income.

They just hope you don't notice.

A300_Driver

Still not a lot of info on details, but Wall Street seems to like the "plan" as the stock is up around 4.5% on a down day.

FedEx to Park Old Trucks, Planes in Revamp - WSJ.com

FDXLAG

Was it Reagan or one of the Bush's that cut your income? And how come Clinton or Obama didnt give you a raise? I mean 2006 we had Bush and bascially got the same raise we got in 2011 under Obama. This is all very confusing.

renman95

...hmm, didn't realize President's were in the negotiating room.

Huck

My notes from the Q & A at the end:

Capacity has already been cut - that was the 50 aircraft parked last year. Our capacity is right for the market. If needed they can cut some more but no need at present.

Airplanes are full now with priority traffic. They are much better now at adding sections. That's what some of the flights through Anchorage are. They do not just stick with the monthly schedule.

For years, international trade has grown at roughly twice of world GDP growth. This is not happening now. They are not planning on it returning.

Improved reliability of new aircraft will decrease total spare aircraft count. This will result in 6 to 8 extra widebodies in the system flying freight.

Pensions are well funded.

Fuel is forecast to not go down. If it does it will benefit the company.

Fred has no plans to retire. He wants to see this new plan through (I believe that's 2017).

The new rights in China: domestic China is growing. We need less regulation there, but it is growing. The regulatory concerns: after we started over there, the Chinese imposed new rules in 2009. We needed express permits suddenly. So... the permits we just were granted were to cover business we were already doing. So really just business as usual- just more administrative hoops.

Sunny Side Up

The Good news for Purple guys:

Fred is not going to retire

Pensions are well funded

A Four year comfort cushion at FDX Express.........

FDXLAG

Kind of anticlimactic, I am going back over to the post office thread. There's still 6 months of arguing there before we find nothing changes much.

Precontact

As predicted by many of us here, Fred finally understand that trucks, ships and trains are cheaper than planes...he admitted to a major shift toward ground transportation in your express segment.

golfandfly

They've admitted this for some time. It's going on with both UPS and Fedex.

MeXC

Yes, if only you and the "many" here could've advised Fred earlier to help him understand this...