Or, as I predicted....
A year or so ago the head of a hedge fund who is also a large stakeholder in FDX met with Smith. Much of his time was spent talking about Express and let's just say that he is not fond of our 'peopleness.' He doesn't believe in minimum pay but he does believe in laying couriers off during slower parts of the year. Once someone else controls a majority of the stock, hope for a long term guy. The pain won't be as bad. A short term guy will slash everything, drive up the stock price, and then sell. He won't show any mercy because he won't be around to deal with the fallout. A long termer will. - Dano, January 2015
Contrary to popular belief there isn't anyone out there who is dying to take charge of the company and has "improved pay and benefits for Express couriers" anywhere on his to-do list. There isn't anyone who would put much effort into trying to preserve what we have now unless we include other executives that are already with the company who are close to Fred himself.
There are those under the assumption that getting rid of Fred means that we're gonna get some benevolent guy who loves giving raises. No. The corporate world wonders why he doesn't have large layoffs and and why he pays minimums and that sort of thing. The current FedEx (flaws and all) is better than what we'll have after Fred. An outsider who takes over doesn't see anything but an opportunity to slash costs to the bone and, if possible, make Express look more like Ground. - Dano, January 2015
If they want to make investors happy, they get rid of Fred and the rest of the old guard. They convert a lot of FT positions to PT, get rid of guarantee pay, possibly cut benefits, contract out some of the work, and lay people off when the situation calls for it. The old-timers who believe in the company believe all of that stuff is needed for the stock price to stay high. Most others understand that the company is spending a lot of money on this stuff and that it keeps the stock price lower. Some of the larger shareholders have been making this point for the last few years.
If you like Smith, fine. If you hate him, fine. What few people realize is that he's the person who is in the way of the people who would take a machete to expenses in order to make some big money in short order. There are people who see this company as something that could be much more profitable than it is. - Dano, September 2019
The reason they don't do [what they're doing now] is because these decisions are made by the old guard. The old guard, whether you think they're good or they're bad, are purple bleeders AND THAT'S THE PROBLEM LARGER INVESTORS HAVE WITH THEM. - Dano, October 2019
Are we done here or do you have other delusions that you'd like to share with us?