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.”

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. 

With the funding, MATA is looking to add “service in the streets,” but it also hopes to move to a new headquarters within three years. 

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.

John Chevedden’s more than 1,000 shareholder proposals with different companies has resulted in companies spending millions of dollars in legal fees. 

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. 

“FedEx Ground will not discuss, negotiate, or renegotiate service provider agreements or financial terms with a committee or any individual purporting to represent a collective body of service provider businesses,” FedEx Ground CEO John Smith said in a letter to contractors. 

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.

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For the union, the two primary issues in the current round of negotiations are retirement benefits and matters related to quality of life.