The Wizard of Fedex
03-06-2023, 09:11 AM
#21
Gets Weekends Off
Joined APC: Apr 2020
Posts: 132
Originally Posted by MEMA300
if we reduced our flight crews by 30-40 percent that would put us real close to the same number of pilots our closest competitor has. I have been saying for years we are turning into IPS minus the brown uniforms…
03-06-2023, 09:41 AM
#22
Aspiring PSA Captain
Joined APC: Sep 2020
Posts: 801
Originally Posted by windshearmaxthr
Forgive me for my ignorance, but can you explain to me how or what leverage they had to demand their way into these board seats?
https://capital.com/fedex-activist-i...-price-de-shaw
A quick google search yields a bunch on the topic. Though they own under 1% of the shares, yet they have clearly established a voting bloc on the board - a bloc that is influential enough that sitting directors agreed to dilute their own influence in order to give it to DE Shaw. I'd love to know how these other BOD members were "influenced".
Last edited by Merle Haggard; 03-06-2023 at 09:52 AM.
03-06-2023, 11:49 AM
#23
New Hire
Joined APC: Feb 2023
Posts: 7
Originally Posted by Merle Haggard
https://www.cnbc.com/2022/06/14/fede...-to-board.html
https://capital.com/fedex-activist-i...-price-de-shaw
A quick google search yields a bunch on the topic. Though they own under 1% of the shares, yet they have clearly established a voting bloc on the board - a bloc that is influential enough that sitting directors agreed to dilute their own influence in order to give it to DE Shaw. I'd love to know how these other BOD members were "influenced".
https://capital.com/fedex-activist-i...-price-de-shaw
A quick google search yields a bunch on the topic. Though they own under 1% of the shares, yet they have clearly established a voting bloc on the board - a bloc that is influential enough that sitting directors agreed to dilute their own influence in order to give it to DE Shaw. I'd love to know how these other BOD members were "influenced".
It would be interesting to find out if the announcement to utilize additional belly freight via pax carrier coincided with the addition of Gorman. Even if it did, it could just be a coincidence. Hard to tell.
DE Shaw wants returns on their investment. The stock hasn’t performed so well since they initially vetted FedEx, so I would think they are going to demand substantial changes occur (DRIVE?) to boost margins and drive up the share price. Taking a meat cleaver to staffing has this effect. Last round of layoffs seemed to boost the share price.
03-06-2023, 12:43 PM
#24
Line Holder
Thread Starter
Joined APC: Apr 2021
Position: Below Decks
Posts: 46
Originally Posted by IWantMyMTV
Is McKinsey on the property here at FedEx?
03-06-2023, 01:52 PM
#25
Gets Weekends Off
Joined APC: Nov 2017
Posts: 2,099
Originally Posted by IWantMyMTV
DE Shaw wants returns on their investment. The stock hasn’t performed so well since they initially vetted FedEx, so I would think they are going to demand substantial changes occur (DRIVE?) to boost margins and drive up the share price. Taking a meat cleaver to staffing has this effect. Last round of layoffs seemed to boost the share price.
The Time for Scope Is Now!
Last edited by FXLAX; 03-06-2023 at 01:55 PM. Reason: Clarity
03-06-2023, 04:08 PM
#27
Gets Weekends Off
Joined APC: Sep 2007
Position: 777 Captain in Training
Posts: 1,457
I guess we “the company and investors” have forgotten what made us millions and saved the world was OUR lift capability. You know all the belly freight opportunities dried up during COVID!!!, when NO passenger airlines were flying. They would be crazy to rely on that capability to carry the lions share of our freight!
Don’t fall for the hype. Industry leading and no concessions!
Don’t fall for the hype. Industry leading and no concessions!
03-06-2023, 04:17 PM
#28
Gets Weekends Off
Joined APC: Mar 2021
Posts: 1,079
Originally Posted by HIFLYR
I guess we “the company and investors” have forgotten what made us millions and saved the world was OUR lift capability. You know all the belly freight opportunities dried up during COVID!!!, when NO passenger airlines were flying. They would be crazy to rely on that capability to carry the lions share of our freight!
Don’t fall for the hype. Industry leading and no concessions!
Don’t fall for the hype. Industry leading and no concessions!
"laser focused on execution, and right sizing"
"looking forward, not in the rear view mirror"
"optimizing"
etc etc McKinseyisms
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