There are 762 articles by Rob Moore :
Shareholders approved the company’s 15 nominees to the FedEx board of directors, including two who were named to the board following an agreement between FedEx and activist investor D. E. Shaw, and compensation for the company’s executive officers.
The automotive parts retailer reported its operating profit increased 5.7% to $1.1 billion and net income for the quarter increased 3.1% over the same period in 2021 to $810 million.
News from FedEx has left some wondering what the company’s cost-cutting measures could mean in Memphis. FedEx, the city’s largest employer, has around 30,000 employees here. Related story: FedEx closing offices, deferring hiring, reducing flights after weak quarter
Citing adverse “macroeconomic trends,” FedEx CEO Raj Subramaniam announced a variety of cost-cutting initiatives, including reduction in flight frequencies and the closure of over 90 FedEx Office locations.
A spinoff of International Paper, Sylvamo became a standalone, publicly traded company last fall.
The majority of containerized goods coming into the Mid-South from overseas come in on one of the five Class I rails based here, said Woodson Dunavant of the logistics and supply chain management company Dunavant Enterprises.
According to the Fed, overall labor market conditions remain tight, with contacts across the Eighth District reporting that workers remain scarce.
“The Southeast and the south of the U.S. was particularly important to us strategically,” Toronto-Dominion Bank CEO Bharat Masrani said. He noted that the region’s population growth is expected to be 50% higher than the national average.
Patton is calling for members of his contractor organization to vote on a call for no-confidence in FedEx Ground CEO John Smith. FedEx does not recognize the association.
TDOT said economic benefits related to a third bridge would include lower transportation costs for goods, enhanced productivity and competitiveness for Memphis area businesses and new employment opportunities in the region.
FedEx Ground has relied on a contractor model since its inception. But what was once a low-cost solution now may be imperiled by the challenges of so-called last-mile delivery.
The FedEx Entrepreneur Fund will provide $10,000 grants to 30 small businesses. The deadline to apply is Friday, Oct. 7.
FedEx claims the contractor, which operated 225 routes in 10 states and had called for fees to be increased along with other changes, launched a “coordinated and multi-faceted campaign” that was “unfairly and wrongfully disparaging” FedEx Ground.
FedEx is seeking injunctive relief and monetary damages following what it called a “coordinated and multi-faceted campaign.”
All work is weather permitting, and a detour will be posted for all closures.
As of May 31, FedEx Express had $1.3 billion in deposits and progress payments on aircraft purchases, including 46 Boeings it plans to buy by 2025.
In a letter to employees sent Monday, Aug. 22, Ford said about 2,000 full-time salaried positions would be eliminated, as well as 1,000 contract workers.Related story:
“Interest in a union does not exempt partners from following policies that are in place to protect partners, our customers and the communities we serve,” Starbucks said.
While more than 300 community organizations support the merger, some are pushing for a community agreement between the banks and groups where the institutions have sizable footprints.
Ford has been working with the state, local institutions and community organizations to help create a pipeline of workers for the thousands of jobs that will be needed by 2025.
More than 70 years after founding its charitable arm, Ford Motor Co. has invested more than $2.2 billion in initiatives that provide basic needs and access to essential services, offer tools to build new skillsets and open pathways to employment.
This year marked the 10th anniversary of FedEx’s Purple Eagle program, an annual event in which the Memphis-based company honors a St. Jude patient who is also the child or grandchild of a FedEx team member.
John Chevedden’s more than 1,000 shareholder proposals with different companies has resulted in companies spending millions of dollars in legal fees.
All of FedEx’s board members are up for election or reelection when the company’s shareholders have their annual meeting, scheduled this year for Monday, Sept. 19.
FedEx also announced Monday it will nominate retired Navy Vice Admiral Nancy A. Norton to its board when the company holds its annual meeting of stockholders in September.