FedEx shareholders overwhelmingly approve board, compensation for top execs
While FedEx stockholders presented four proposals of their own during the company’s annual meeting, each was rejected by more than 60% of voted shares.
Rob Moore
There are 789 articles by Rob Moore :
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September 2022
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Transportation & Logistics -
Transportation & Logistics Memphis International announces nonstop flight to Austin
American Airlines announced it will launch nonstop service between MEM and Austin-Bergstrom International Airport (AUS) starting in January.
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Transportation & Logistics FedEx shareholders approve board of directors, executive compensation
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.
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Business AutoZone reports strong quarter, commercial business continues to grow
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.
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Transportation & LogisticsDoes FedEx’s poor quarter signal a global recession?
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.
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FedEx closing offices, deferring hiring, reducing flights after weak quarter
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Transportation & LogisticsFedEx 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.
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Business Sylvamo buys Swedish mill in $150 million transaction
A spinoff of International Paper, Sylvamo became a standalone, publicly traded company last fall.
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Transportation & LogisticsA large-scale railroad strike would hit Memphis hard
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.
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BusinessFed offers mixed look on Memphis economy
According to the Fed, overall labor market conditions remain tight, with contacts across the Eighth District reporting that workers remain scarce.
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Financial Services TD Bank CEO on acquiring First Horizon
“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.
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Transportation & Logistics Ex-contractor Spencer Patton calls for no-confidence vote in FedEx Ground CEO
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.
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BusinessChamber advocating support for third Memphis bridge
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.
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Transportation & LogisticsPackage deal: How FedEx Ground delivers the goods amid challenges
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.
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Transportation & Logistics FedEx grants help to businesses owned by veterans, people with disabilities
The FedEx Entrepreneur Fund will provide $10,000 grants to 30 small businesses. The deadline to apply is Friday, Oct. 7.
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August 2022
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Transportation & Logistics FedEx terminates agreement with one of its largest contractors after filing a lawsuit against the business
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.
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Transportation & Logistics FedEx Ground sues one of its largest contractors
FedEx is seeking injunctive relief and monetary damages following what it called a “coordinated and multi-faceted campaign.”
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Business Repaving to cause ‘major’ lane closures along I-55
All work is weather permitting, and a detour will be posted for all closures.
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Transportation & Logistics FedEx wrapping up fleet modernization, buying more planes
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.
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Ford Megasite BlueOval City not impacted by Ford layoffs
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.
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BusinessMemphis 7 to be reinstated in jobs; Starbucks plans to appeal
“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.
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Financial Services First Horizon merger supporters and detractors share their stance
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.
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Ford Megasite Ford looking to ‘hire and leverage’ locally for future BlueOval City
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.
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Ford MegasiteWhat impact could Ford’s charitable foundation have in the Mid-South?
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.
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Golf St. Jude patient honored during FedEx St. Jude Championship
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.
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Transportation & Logistics ‘Corporate agitator’ questions FedEx board appointments
John Chevedden’s more than 1,000 shareholder proposals with different companies has resulted in companies spending millions of dollars in legal fees.
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