FDX Stocks and FDX Pilots
 

Quick question on stocks and the FDX pilot group:
Is there a pilot rep or does ALPA offer any way for a unified proxy vote?

The reason I ask is that there is about 300M shares of stock, Fred has about 10M and the rest of the board (w/ Fred) has about 12M. If we say that the pilot force has a proxy vote of say 4M, could we influence the board at all? I know the employed run airline (United) didn't work out so well, but just curious if there is a way to get our collective voice out there?

the united guys had non-voting shares, which is part of the reason they got so beaked by the company's attempt to merge with us air 7 years ago....leading to their industry best contract
and the summer of pain for those taxiing behind a united jet

Only a concerted, dedicated effort (of relatively short duration), 180k(avg sal.)x.05 buy=$9000. $9000x4800(pilots)=$43.2M. $43.2M/115(price FDX Stock)=375,652 shrs/yr x 10yrs=3.75M shares (not counting presently owned shares).

Actually, I'd bet that a majority of pilots own no FDX stock.

I believe they stopped the stock purchase plan that we once enjoyed, back in mid 1991. Their explanation then was "too many people were not holding their shares, but were turning them around almost immediately." It was too bad as it was a really great way of obtaining FedEx stock and equity in the company. Since then, I've not entertained the idea of owning the stock. Something about not placing too many eggs in one basket.

We'd be better off owning UPS....

Not completely true...
The ESPP is still open to us--we just don't get the discounted price.

Well, if this comes to pass, you would benefit if you owned some shares:

http://www.reuters.com/article/busin...8?feedType=RSS

Maybe so, but do you know anyone who has actively been investing in our stock since they eliminated th discount. Prior to the closing, many, many guys were investing.

I know at least one-me (my whopping 1% keeps me from blowing it on something else).

So, you're the ONE.

I make two!:D Upped it when I made Capt.

Fedex stock is up over $5 today. Wonder why.

That's two shares, right? Bought one a few years ago so you'd get the annual report, then they split? :D

Yea, when they told us we were an internet company! :rolleyes:

I think there are a few of us out there that have or are currently buying the stock. I was wondering if there was anything out there that we could get our collective voice together. I guess not. We might want to set something up, just a thought.

ESOP history
 

Having first hand knowledge of the whole United debacle, the ESOP failed for numerous reasons. First, not all employee groups were involved. Primarily, the flight attendants chose not to participate when it was organized in the early 90s. The pilots, mechanics and eventually the nonunionized cluster of employees had a vote on the board (3). Second, every union group had a little different vision as to what direction the company and its' contracts should take. Third, even though the employees had a "vote" on the board, it required a minimum of 2 of the 3 voting groups represented on the board to effect a vote. When the merger of US Air came around, there were SIGNIFICANT differences among the voting parties on the board and also some hidden agendas as to personal gain from a merger. The lack of solidarity among board members resulted in many unresolved merger issues (seniority being the biggest).

As for the sale of the ESOP stock, you could not get rid of any shares until retirement. This meant that back in '99 and 2000, there were guys who were within a couple of years of retirement and had stock worth hundreds of thousands of dollars. It turned out to be virtually worthless since it got taken off the exchange and reissued under UAUA after the bankruptcy. It looked great under the "paper gains", but reality is something totally different.

Bottom line..........even if we had enough shares to matter, it still wouldn't matter.

Backup plan?
 

Actually, that might be a nice hedge play: FedEx guys load up on UPS stock and vice-versa. If your company flops, the other one will boom, so you're covered either way! ;)

Maybe because if this LOA goes through, the company will get away with murder on their overseas employee expenses.

FDX stock prices
 

I'm the reason it took off in the first place. I sold my (few) shares when they got to $30. :o Please feel free to ask me any and all financial planning questions that you may have. ;) It could make an interesting new thread; "Ask Frozenboxhauler".
fbh

Sort of reminds me of that old-but-true saying: How does an airline pilot become a millionaire? Start out with multiple millions, and buy airline stock.;)