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01-02-2024, 04:59 PM
#21
Line Holder
Joined APC: Dec 2017
Posts: 48
Originally Posted by Hacker15e
There are 14 personnel on the BoD.
DE Shaw influenced two of those appointments and have an agreement which will allow them to name a third at some point.
It is perplexing to me how 3 members of a board of 14, which represent the interests of Shaw's 1% share of the company, could have "de facto control".
FedEx raises dividend, adds directors in agreement with D.E. Shaw
I think it is just as important to recognize that McKinsey and Company are also in Fred's House and seem to be advising Raj and the gang to slash/and/burn to increase the bottom line.
Certainly the combination of Shaw influencing Board decisions and McKinsey consulting on how to increase shareholder benefit, with the addition of Mr JD in the C Suite team, is going to equal some strange times ahead for organized and nonunionized labor at Purple.
DE Shaw influenced two of those appointments and have an agreement which will allow them to name a third at some point.
It is perplexing to me how 3 members of a board of 14, which represent the interests of Shaw's 1% share of the company, could have "de facto control".
FedEx raises dividend, adds directors in agreement with D.E. Shaw
I think it is just as important to recognize that McKinsey and Company are also in Fred's House and seem to be advising Raj and the gang to slash/and/burn to increase the bottom line.
Certainly the combination of Shaw influencing Board decisions and McKinsey consulting on how to increase shareholder benefit, with the addition of Mr JD in the C Suite team, is going to equal some strange times ahead for organized and nonunionized labor at Purple.
The market will determine our worth... if they don't pay market, they won't have an airline and you will have your vested benefit and fly somewhere else... I don't think that is likely.
01-02-2024, 05:15 PM
#22
Gets Weekends Off
Joined APC: Aug 2009
Posts: 396
Originally Posted by Merle Haggard
Activist investment firm with de facto control over the BOD at the moment. Look them up. They swoop in and make companies "more efficient" thus "unlocking value". Value for whom? Debatable.
01-02-2024, 06:25 PM
#23
Aspiring PSA Captain
Joined APC: Sep 2020
Posts: 824
Originally Posted by Hacker15e
There are 14 personnel on the BoD.
DE Shaw influenced two of those appointments and have an agreement which will allow them to name a third at some point.
It is perplexing to me how 3 members of a board of 14, which represent the interests of Shaw's 1% share of the company, could have "de facto control".
DE Shaw influenced two of those appointments and have an agreement which will allow them to name a third at some point.
It is perplexing to me how 3 members of a board of 14, which represent the interests of Shaw's 1% share of the company, could have "de facto control".
These BOD members are involved in countless other large corporations. If you're a CEO elsewhere maybe you keep your head down around DE Shaw lest they come make your business "more efficient" by using every nickel to buy stock back and eliminating capital expenditures.
01-03-2024, 07:46 AM
#24
Gets Weekends Off
Joined APC: Aug 2019
Posts: 1,030
Originally Posted by PW305
I’m not so sure that’s true. Amy Lane still serves on the board here (as well as others) but Jim Vena left this fall to take the helm at Union Pacific. Not sure they ever got a third seat. They won’t be around forever
01-03-2024, 09:58 AM
#25
Gets Weekends Off
Joined APC: Mar 2021
Posts: 1,109
Originally Posted by KC10 FATboy
Pure speculation on my part.
Atlas Air Worlswide is purchased by an investor group led by Apollo along with JF Lehman & Company and Hill Ciity Capital for $5.2B.
Atlas Air Worldwide becomes a privately held company.
John Dietrich former CEO of Atlas Air Worldwide bexomes EVP and CEO of FedEx Corp
FedEx Corp FY24 Q3 cash on-hand $6.3B
FedEx Corp announces Tricolor network plan to expand its air freight offerings to the much larger global air freight market beyond priority parcel shipments. This is to grow and capture more air freight (pallets) and less time sensitive e-commerce parcels.
My take, FedEx Corp will make a move to acquire Atlas Air Worldwide. JD was brought over to FedEx Corp to make this transition. This gives FedEx a hedge against Amazon. They get access to a fleet of 767 freighters which can't be built after 2028. They also get a few 777Fs and the 747s which are no longer produced.
Am I crazy?
Atlas Air Worlswide is purchased by an investor group led by Apollo along with JF Lehman & Company and Hill Ciity Capital for $5.2B.
Atlas Air Worldwide becomes a privately held company.
John Dietrich former CEO of Atlas Air Worldwide bexomes EVP and CEO of FedEx Corp
FedEx Corp FY24 Q3 cash on-hand $6.3B
FedEx Corp announces Tricolor network plan to expand its air freight offerings to the much larger global air freight market beyond priority parcel shipments. This is to grow and capture more air freight (pallets) and less time sensitive e-commerce parcels.
My take, FedEx Corp will make a move to acquire Atlas Air Worldwide. JD was brought over to FedEx Corp to make this transition. This gives FedEx a hedge against Amazon. They get access to a fleet of 767 freighters which can't be built after 2028. They also get a few 777Fs and the 747s which are no longer produced.
Am I crazy?
I think the recent tri-colorization of FedEx Air is some McKinsey or management consultantism push that eventually will result in a "metrics review" of each unit and possible "valuation analysis" for subsequent sale to another investment group so FedEx can focus, on, well, DRIVE
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