Per the new agreement, FedEx will purchase up to $200 million in services from a Massachusetts-based technology company, in exchange for warrants for 25 million shares of its stock.
FedEx Corp. counters that the more than 6,000 service provider businesses in its Ground network earned an average revenue of $2.3 million in 2021.
“Scott’s impact on the success of MEM cannot be understated,” said the chair of the Memphis-Shelby County Airport Authority board.
In its annual report for the fiscal year ended May 31, FedEx disclosed numerous risks to its business, including Russia’s invasion of Ukraine and increased competition.
Gov. Bill Lee’s appointment will replace current board member R. Brad Martin, if confirmed by the Tennessee state legislature.
The logistics giant is closing its remaining data centers and moving completely to the cloud, a decision that it says will take two years.
At its most recent meeting of shareholders and analysts, the Memphis-based company announced it is no longer interested in keeping its networks separate. Instead, FedEx wants to benefit from their overlap.
Technicians at the Gateway service center on Summer are self-supplying the company’s need for skilled mechanics with a six-month course that guarantees full-time employment at its conclusion.
New CEO Raj Subramaniam faces soaring inflation, increasing competition from Amazon and an activist investor demanding shakeups to the board, but plans to grow earnings per share by as much as 19% over the next three years, as well as increase operating income by as much as $4.5 billion.
The logistics giant announced Wednesday, June 29, its new “Deliver Today, Innovate for Tomorrow” strategy as investors and analysts gathered in Memphis for the company’s 2022 investor meeting.
Pilots are asking for a contract that increases retirement benefits and takes into account issues related to quality of life, such as time spent away from home and uncertainty around scheduling.
FedEx has donated more than $2.3 million in humanitarian aid since the outset of the conflict, including $1 million that has been allocated for in-kind shipping with nonprofit partners.
D. E. Shaw & Co. is known for its activist investing, including its role in Exxon Mobil Corp.’s decision to add to its board and make $6 billion worth of cost savings changes.
The growing pool of property-tax funding is expected to reach the $30 million goal in the next seven to eight fiscal years — with city and county combined funding. City Council tables indefinitely ballot question to allow partisan primaries City Council rejects used-car lot on Elvis Presley BoulevardRelated stories:
For the union, the two primary issues in the current round of negotiations are retirement benefits and matters related to quality of life.
An SEC filing reveals how much Raj Subramaniam and FedEx founder Fred Smith will earn in their new roles.
Brie Carere is a three-time winner of the FedEx Five Star Award, the company’s highest team member honor.
FedEx Corp. stock was up nearly 9% Tuesday after the company made the announcement.
Most of the hires (57%) have come from West Tennessee, including Haywood, Tipton, Madison and Fayette counties. But officials say Shelby County residents will play a big role in the construction project.
A Morgan Stanley report suggests FedEx could be suffering from conditions that “have turned more sluggish globally, no doubt compounded by additional complications from the conflict in Ukraine and COVID-related shutdowns in China.”
As manufacturers scrambled to resume operations in 2021 following shutdowns across several industries the year before, truckers were in demand.
FedEx announced in September 2021 it would enter a pilot program with California-based Aurora Innovation Inc. to test autonomous driving technology.
Shares of AutoZone stock were up Tuesday morning following the release, which reported net sales of $3.9 billion for the third-quarter 2022.
The flight from the Ramstein Air Base in Germany to Indiana transported the equivalent of 1.5 million 8-ounce bottles of three formulas, all of which are hypoallergenic for children with cow’s milk protein allergy.
“I think the public versus private versus publicly-owned private space question is one that should be unpacked,” said Sam Rauch, who has curated exhibits for New York’s LaGuardia Airport.