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ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!

 
DoorBert

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10/12/2012 09:04 AM

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ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
One key measure of global economic health is how much freight – raw materials and manufactured goods – is being shipped around the world and in the United States. In July of this year the Balctic Dry Index, a measure of the price to pay for the movement of raw materials by sea, hit a record breaking low and signaled a steep decline in global manufacturing and consumption.

This was a key indicator for where the economy was headed on a global scale.

Just a few months later we’ve received confirmation of this trend from FedEx, one of the largest shipping companies in the world.

Yes, Americans are still shopping, but they aren’t shopping at the same pace they were five years ago. Their jobs have been eliminated, wages reduced and credit has been restricted. FedEx’s latest earnings report is proof positive of this:

[link to investors.fedex.com]

Earnings for the first quarter were below our expectations as weak global economic conditions dampened revenue growth, drove a shift by our customers to our deferred services and outpaced our near-term ability to reduce FedEx Express operating costs to match demand levels.

Prominent CEOs around the country see the writing on the wall, as do many political and financial insiders such as financier George Soros who warned earlier this year that even the best-case scenario will be painful:

[link to www.shtfplan.com]

I am not here to cheer you up.

The situation is about as serious and difficult as I’ve experienced in my career.



We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse.

The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.


[link to www.shtfplan.com]
Anonymous Coward
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10/12/2012 09:06 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
One key measure of global economic health is how much freight – raw materials and manufactured goods – is being shipped around the world and in the United States. In July of this year the Balctic Dry Index, a measure of the price to pay for the movement of raw materials by sea, hit a record breaking low and signaled a steep decline in global manufacturing and consumption.

This was a key indicator for where the economy was headed on a global scale.

Just a few months later we’ve received confirmation of this trend from FedEx, one of the largest shipping companies in the world.

Yes, Americans are still shopping, but they aren’t shopping at the same pace they were five years ago. Their jobs have been eliminated, wages reduced and credit has been restricted. FedEx’s latest earnings report is proof positive of this:

[link to investors.fedex.com]

Earnings for the first quarter were below our expectations as weak global economic conditions dampened revenue growth, drove a shift by our customers to our deferred services and outpaced our near-term ability to reduce FedEx Express operating costs to match demand levels.

Prominent CEOs around the country see the writing on the wall, as do many political and financial insiders such as financier George Soros who warned earlier this year that even the best-case scenario will be painful:

[link to www.shtfplan.com]

I am not here to cheer you up.

The situation is about as serious and difficult as I’ve experienced in my career.



We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse.

The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.


[link to www.shtfplan.com]
 Quoting: DoorBert



Thanks OP, we all on GLP have seen the decline for many years now.

[link to www.dailyjobcuts.com]

Be interesting to see the finial numbers.
Anonymous Coward
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10/12/2012 09:11 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
has Christmas ben canceled?

12/21/12

damned
Anonymous Coward
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10/12/2012 09:12 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
When the Republiscams stop sending manufacturing and industrial jobs to Asia, we will have full employment again.

That is all there is to it. Repudiate the Republiscams any way you can. They have been destroying America. [link to www.amazon.com]
Judethz
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10/12/2012 09:16 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
skidrowkitty Yet another straw in the wind.
Anonymous Coward
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10/12/2012 09:28 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
When the Republiscams stop sending manufacturing and industrial jobs to Asia, we will have full employment again.

That is all there is to it. Repudiate the Republiscams any way you can. They have been destroying America. [link to www.amazon.com]
 Quoting: Anonymous Coward 16674316


maybe if the taxes here wernt so high less jobs would be lost libtard
Anonymous Coward
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10/12/2012 09:29 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
has Christmas ben canceled?

12/21/12

damned
 Quoting: Anonymous Coward 25260217


Don't think so, but I think this year there will be alot less product available on the shelves.
Anonymous Coward
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10/12/2012 09:32 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
But then there's this -

The Baltic Dry Index (BDIY), a benchmark for global commodity- shipping rates, rose 3.2 percent in London yesterday. It has jumped 37 percent since Sept. 12, when it reached a seven-month low.

(from BusinessWeek article today on Chinese shipping companies)
abeliever

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10/12/2012 09:36 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
When the Republiscams stop sending manufacturing and industrial jobs to Asia, we will have full employment again.

That is all there is to it. Repudiate the Republiscams any way you can. They have been destroying America. [link to www.amazon.com]
 Quoting: Anonymous Coward 16674316


Apparently, you are doing very well in this economy, and for the past few years, while 15% of the population is starving?

Another one who drank the kool aid...
Lady Jane SmithModerator
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10/12/2012 09:36 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
This is very concerning.

FedEx, UPS & the such are usually adding jobs this time of year to prepare for the rush in Holiday shipping.
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
Lady Jane SmithModerator
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10/12/2012 09:37 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
This needs a PIN. Very telling about the true state of the economy.


Pin It Kitty
Life is karma and karma always reflects both past and present circumstance. Our time here is short, so choose carefully and behave well, for all of your tomorrows are presently being decided.

"Don't die on a small cross..." Saddletramp's Mom

"A fool thinks himself to be wise, but a wise man knows himself to be a fool."
-- William Shakespeare, born April 23, 1564.

Killer Bunny mockingjay
BRIEF
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10/12/2012 09:41 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
Shipping has always been interesting to me...ever see two log trucks pass each other going opposite ways on the highway? Makes you wonder how many other products, that are exactly the same, are being shipped across the state or country instead of across the street where they are needed...
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
Sleeping Giant
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10/12/2012 09:43 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
FedEx Ground has become so fast, people aren't willing to pay the extra 20 bucks to get something there overnight, when Ground can get it there one day later for a lot cheaper.

It's just the nature of the beast in a competitive market.

Last Edited by Sleeping Giant on 10/12/2012 09:44 AM
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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10/12/2012 09:48 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
FedEx Ground has become so fast, people aren't willing to pay the extra 20 bucks to get something there overnight, when Ground can get it there one day later for a lot cheaper.

It's just the nature of the beast in a competitive market.
 Quoting: Sleeping Giant


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
MARsSPEED

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10/12/2012 09:54 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
And in other news, the liberal media tells us the unemployment rate is going down.................

SUSPECT102
MSM Sucks!
Sleeping Giant
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10/12/2012 09:56 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
FedEx Ground has become so fast, people aren't willing to pay the extra 20 bucks to get something there overnight, when Ground can get it there one day later for a lot cheaper.

It's just the nature of the beast in a competitive market.
 Quoting: Sleeping Giant


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
 Quoting: DarbyDoom


The company is fine. Express offers overnight services for a large fee. FedEx Ground is very much cheaper, but at the same time, has become very fast. For example, I can ship something from here in Ohio to Florida in two days. The company has just canabalized itself. With the economy, people aren't willing to spend the extra money when they can ship FedEx Ground, and still get it there quickly. UPS is having the same issue, but they don't all of the different operating companies.



The layoffs and buyouts are for FedEx Express only, all the other operating companies are doing well.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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10/12/2012 09:57 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
Shipping has always been interesting to me...ever see two log trucks pass each other going opposite ways on the highway? Makes you wonder how many other products, that are exactly the same, are being shipped across the state or country instead of across the street where they are needed...
 Quoting: BRIEF


Hahah, it does make you wonder.
Make local apples, ship them 1000 miles away, and get apples from Canada.
Got to wonder if there is more too it, or just creating the illusion of jobs
Sleeping Giant
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10/12/2012 09:58 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
FedEx Ground has become so fast, people aren't willing to pay the extra 20 bucks to get something there overnight, when Ground can get it there one day later for a lot cheaper.

It's just the nature of the beast in a competitive market.
 Quoting: Sleeping Giant


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
 Quoting: DarbyDoom


The company is fine. Express offers overnight services for a large fee. FedEx Ground is very much cheaper, but at the same time, has become very fast. For example, I can ship something from here in Ohio to Florida in two days. The company has just canabalized itself. With the economy, people aren't willing to spend the extra money when they can ship FedEx Ground, and still get it there quickly. UPS is having the same issue, but they don't all of the different operating companies.



The layoffs and buyouts are for FedEx Express only, all the other operating companies are doing well.
 Quoting: Sleeping Giant



To add: The reason the shipping economy is still going strong is because people don't want to spend the gas money to go to the store. With amazon, ebay, and all the other retailers who are now online, it makes it cheaper to just shop online. Plus, many of those online stores offer free shipping. So, it still reflects the poor economy.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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10/12/2012 10:00 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
And in other news, the liberal media tells us the unemployment rate is going down.................

:SUSPECT102:
 Quoting: MARsSPEED


Love it!
Anonymous Coward
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10/12/2012 10:00 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
But then there's this -

The Baltic Dry Index (BDIY), a benchmark for global commodity- shipping rates, rose 3.2 percent in London yesterday. It has jumped 37 percent since Sept. 12, when it reached a seven-month low.

(from BusinessWeek article today on Chinese shipping companies)
 Quoting: DarbyDoom


So airplane shipping (FedEx Express) is down, truck shipping (FedEx Ground) is stable, and ocean shipping in big boats (BDI) is up.

Sounds rational to me. Never made much sense, how much stuff we put into little sausage tubes and fly it around at 40,000 feet, very inefficient.
Sleeping Giant
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10/12/2012 10:00 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
This is very concerning.

FedEx, UPS & the such are usually adding jobs this time of year to prepare for the rush in Holiday shipping.
 Quoting: Lady Jane Smith


Still are...UPS and FedEx are both gearing up for a record-setting peak season. People just aren't paying for the express service. UPS is just UPS, but FedEx is split into different shipping service, owned by the same parent company, that's why they are in the news. (express, ground, home delivery, custom critical, freight, etc.)

Last Edited by Sleeping Giant on 10/12/2012 10:02 AM
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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10/12/2012 10:01 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
FedEx Ground has become so fast, people aren't willing to pay the extra 20 bucks to get something there overnight, when Ground can get it there one day later for a lot cheaper.

It's just the nature of the beast in a competitive market.
 Quoting: Sleeping Giant


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
 Quoting: DarbyDoom


The company is fine. Express offers overnight services for a large fee. FedEx Ground is very much cheaper, but at the same time, has become very fast. For example, I can ship something from here in Ohio to Florida in two days. The company has just canabalized itself. With the economy, people aren't willing to spend the extra money when they can ship FedEx Ground, and still get it there quickly. UPS is having the same issue, but they don't all of the different operating companies.



The layoffs and buyouts are for FedEx Express only, all the other operating companies are doing well.
 Quoting: Sleeping Giant



To add: The reason the shipping economy is still going strong is because people don't want to spend the gas money to go to the store. With amazon, ebay, and all the other retailers who are now online, it makes it cheaper to just shop online. Plus, many of those online stores offer free shipping. So, it still reflects the poor economy.
 Quoting: Sleeping Giant

Or, just the new economy. Even if I were flush with cash, I would prefer to buy most stuff online. Maybe I'd even buy food online (e.g. SeamlessWeb) rather than shop sales in grocery stores as I do now.
Sleeping Giant
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10/12/2012 10:03 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
...


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
 Quoting: DarbyDoom


The company is fine. Express offers overnight services for a large fee. FedEx Ground is very much cheaper, but at the same time, has become very fast. For example, I can ship something from here in Ohio to Florida in two days. The company has just canabalized itself. With the economy, people aren't willing to spend the extra money when they can ship FedEx Ground, and still get it there quickly. UPS is having the same issue, but they don't all of the different operating companies.



The layoffs and buyouts are for FedEx Express only, all the other operating companies are doing well.
 Quoting: Sleeping Giant



To add: The reason the shipping economy is still going strong is because people don't want to spend the gas money to go to the store. With amazon, ebay, and all the other retailers who are now online, it makes it cheaper to just shop online. Plus, many of those online stores offer free shipping. So, it still reflects the poor economy.
 Quoting: Sleeping Giant

Or, just the new economy. Even if I were flush with cash, I would prefer to buy most stuff online. Maybe I'd even buy food online (e.g. SeamlessWeb) rather than shop sales in grocery stores as I do now.
 Quoting: Anonymous Coward 23597994


Absolutely, it's more convenient.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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10/12/2012 10:17 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
FedEx Ground has become so fast, people aren't willing to pay the extra 20 bucks to get something there overnight, when Ground can get it there one day later for a lot cheaper.

It's just the nature of the beast in a competitive market.
 Quoting: Sleeping Giant


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
 Quoting: DarbyDoom


The company is fine. Express offers overnight services for a large fee. FedEx Ground is very much cheaper, but at the same time, has become very fast. For example, I can ship something from here in Ohio to Florida in two days. The company has just canabalized itself. With the economy, people aren't willing to spend the extra money when they can ship FedEx Ground, and still get it there quickly. UPS is having the same issue, but they don't all of the different operating companies.



The layoffs and buyouts are for FedEx Express only, all the other operating companies are doing well.
 Quoting: Sleeping Giant



To add: The reason the shipping economy is still going strong is because people don't want to spend the gas money to go to the store. With amazon, ebay, and all the other retailers who are now online, it makes it cheaper to just shop online. Plus, many of those online stores offer free shipping. So, it still reflects the poor economy.
 Quoting: Sleeping Giant


For Online Shipping that is true. But why ship produce from Argentina to say NY, vs the same product that grows in NY gets shipped out of NY.
Anonymous Coward
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10/12/2012 10:23 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
FedEx Ground has become so fast, people aren't willing to pay the extra 20 bucks to get something there overnight, when Ground can get it there one day later for a lot cheaper.

It's just the nature of the beast in a competitive market.
 Quoting: Sleeping Giant


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
 Quoting: DarbyDoom


The company is fine. Express offers overnight services for a large fee. FedEx Ground is very much cheaper, but at the same time, has become very fast. For example, I can ship something from here in Ohio to Florida in two days. The company has just canabalized itself. With the economy, people aren't willing to spend the extra money when they can ship FedEx Ground, and still get it there quickly. UPS is having the same issue, but they don't all of the different operating companies.



The layoffs and buyouts are for FedEx Express only, all the other operating companies are doing well.
 Quoting: Sleeping Giant



To add: The reason the shipping economy is still going strong is because people don't want to spend the gas money to go to the store. With amazon, ebay, and all the other retailers who are now online, it makes it cheaper to just shop online. Plus, many of those online stores offer free shipping. So, it still reflects the poor economy.
 Quoting: Sleeping Giant


Thank you...
Anonymous Coward
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10/12/2012 10:24 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
jesus "EAT"

I thought I explained this to you on the other forum you posted this on...

if its a "carsh" I aint worried about it
Anonymous Coward
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10/12/2012 10:28 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
maybe they are just getting rid of bad employees. their idea of a delivery attemp is a drive by. don't see anyone outside=no one home.
Anonymous Coward
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10/12/2012 10:37 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
If we can outlast the paper and the ink the market will carsh. Insane money printing going on right now and they have instated massive price controls as they print us into the stratosphere !

Price discovery is the definition of the market itself. Take that away and you have no market. Why they think they can unwind the massive influx of money that they have used to purchase equities is dreaming of candy unicorns.

A $30 uptic in Gold since the QE4ever announcement proves the price controls !

$30

$30

$30
Sleeping Giant
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10/12/2012 10:41 AM

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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
...


Could you elaborate? Are they just cutting their overnight services....? Or is the company as a whole have problems?? What about UPS??
 Quoting: DarbyDoom


The company is fine. Express offers overnight services for a large fee. FedEx Ground is very much cheaper, but at the same time, has become very fast. For example, I can ship something from here in Ohio to Florida in two days. The company has just canabalized itself. With the economy, people aren't willing to spend the extra money when they can ship FedEx Ground, and still get it there quickly. UPS is having the same issue, but they don't all of the different operating companies.



The layoffs and buyouts are for FedEx Express only, all the other operating companies are doing well.
 Quoting: Sleeping Giant



To add: The reason the shipping economy is still going strong is because people don't want to spend the gas money to go to the store. With amazon, ebay, and all the other retailers who are now online, it makes it cheaper to just shop online. Plus, many of those online stores offer free shipping. So, it still reflects the poor economy.
 Quoting: Sleeping Giant


Thank you...
 Quoting: DarbyDoom


You're welcome. Like I said before, it's the nature of the beast. It's dictated by the consumer, and industry standards. If the consumer would rather save money and add a day to the service, then that's how the companies must evolve and adapt. I'm definitely not saying the economy is OK, obviously, because people can't afford overnight shipping anymore.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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10/12/2012 10:44 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
When the Republiscams stop sending manufacturing and industrial jobs to Asia, we will have full employment again.

That is all there is to it. Repudiate the Republiscams any way you can. They have been destroying America. [link to www.amazon.com]
 Quoting: Anonymous Coward 16674316


maybe if the taxes here wernt so high less jobs would be lost libtard
 Quoting: Anonymous Coward 18950725


Why dont you understand the fact that the inflation created from Production/Output (job creation) would put so much strain on the dollar it would be dead within 6 months (inflation). There can be no employment in this country while they try and print the banks "of the world" back to solvency.

Why cant you understand this ?
DeadBeacon

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10/12/2012 10:55 AM
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Re: ECONOMIC CARSH IMMINENT: Fedex Slashing Thousands of Jobs!!
Supply chain trends, as in FedEx and UPS, are very telling. Before you can ship it very often the worlds pallet industry is the precursor....if you don't produce it or warehouse it you don't need pallets.

It's one of the first indicators in manufacturing.

A little research and you'll see the trends have been terrible...for years.

[link to www.reportlinker.com]
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