Financial Services
What Memphis-based public companies predict for 2023
Memphis-based public companies FedEx, International Paper, Sylvamo and AutoZone have cautious outlooks for 2023.
Rob Moore
There are 789 articles by Rob Moore :
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January 2023
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Ford MegasiteFord’s BlueOval City got on the road in 2022
Ford began the first phases of construction at BlueOval City during the past year, and the automaker has continued to expand its presence in West Tennessee.
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December 2022
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Transportation & Logistics Airport gets a chance to test de-icing equipment
Inclement weather around the country has disrupted flights and altered schedules. Holiday travelers are urged to arrive early and brace for long lines and crowded parking lots at MEM.
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Business FedEx pilots say company is dragging its feet at the bargaining table
The Air Line Pilots Association released a statement accusing FedEx of not doing its due diligence to reach a deal.
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Transportation & Logistics FedEx announces additional $1 billion in cost cuts following weak quarter
FedEx has identified an additional $1 billion in cost savings beyond its September forecast and now expects to generate savings of $3.7 billion.
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Transportation & Logistics Memphis International says holiday traffic may exceed pre-pandemic levels
Airport officials are providing tips as they expect a 2.7% increase in traffic compared to the same travel period in 2019, before the pandemic, as well as a 17.2% increase from the same travel period in 2021.
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Transportation & LogisticsWill FedEx report another weak quarter?
Tuesday’s earnings call is expected to focus on how effective the company’s sweeping cost-cutting initiatives announced in September have been so far.
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Real Estate Sylvamo opens global headquarters in East Memphis
The move to the Primacy I office building at 6077 Primacy Parkway — less than two miles from the IP towers — allows the paper company to house around 350 of its employees, who began returning to the office in October.
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Business AutoZone shareholders vote to approve board of directors, executive compensation
The AutoZone board now includes three women, or 30% of the board, and three people of color, also 30%.
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Ford Megasite Ford announces local partnership to spur electric transportation
This will be Ford’s ninth mobility innovation challenge since 2018.
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Transportation & Logistics New service from FedEx designed to streamline high-volume returns
The new service from FedEx will expand on the Memphis-based company’s recent efforts to streamline return shipping.
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Business AutoZone reports strong quarter as it plans exit from ‘pandemic mode’
The company opened 28 new stores in the U.S., three stores in Mexico and four stores in Brazil during the quarter.
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Business FedEx employee killed at world hub
This marks the second death this year at the FedEx World Hub. An employee was killed in February following an incident operating a forklift.
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November 2022
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BusinessMeet AutoZone’s proposed board of directors
If shareholders approve the nominees, the AutoZone board will include three women, or 30%, and three people of color, also 30%.
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Transportation & LogisticsIs UPS managing costs better than FedEx?
After Memphis-based FedEx shocked investors and said global trends had weakened profit and revenue, the company’s primary competitor still managed to beat financial analysts’ expectations. But how?
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Transportation & Logistics Despite market softness, FedEx prepares for holiday peak season
The deadline to ensure packages arrive in time for Christmas using FedEx Ground is Dec. 14. The last day to ship for FedEx Express Saver is Dec. 20.
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Transportation & Logistics FedEx Ground unofficial bargaining group officers resign
The group formed just months ago to lobby the logistics giant for changes has disbanded and denounced calls for a work stoppage on the day after Thanksgiving.
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Transportation & Logistics Memphis International Airport anticipates 80,000 travelers during Thanksgiving holiday period
The expected peak day is Sunday, Nov. 27, with 8,700 travelers expected to pass through the security checkpoint. Other expected peaks include Friday, Nov. 18, and Sunday, Nov. 20.
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Transportation & Logistics Ford offers $5,000 business grants for West Tennessee entrepreneurs
Applicants with the most promising and innovative ideas will be selected to participate in a two-month-long virtual program starting in January.
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North Memphis FedEx delivers more than 700 coats for Wells Station Elementary
Tuesday’s drive at Wells Station drew more than 70 FedEx team members across company’s various operating segments.
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Transportation & Logistics FedEx Freight to furlough workers
FedEx says some eligible employees will be offered permanent transfer opportunities to other markets that have hiring needs.
Related story:
FedEx begins reducing flight frequencies following poor quarter
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Business Memphis-based Sylvamo reports strong quarter
Sylvamo’s strong quarter is in contrast to other Memphis-based companies, particularly FedEx and International Paper, both of which reported lower-than-expected earnings in their most recent quarters.
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Transportation & Logistics FedEx begins reducing flight frequencies following poor quarter
FedEx will focus first on parking its older planes, an action that will also defer costly maintenance events, company executives anticipate.
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Transportation & Logistics DHL seeks tax incentive with unnamed partner
DHL would not name the third-party client it would partner with but said the customer is not based in Memphis or Shelby County.
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Business Ford announces $1M grant program for West Tennessee
The grants, ranging between $25,000 and $100,000, will be available to local nonprofits and municipalities for capital improvements such as new playgrounds or renovated facilities.
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