DATE TITLE
October 20 Opponents to Greensboro Airport FedEx Express Hub Settle LawsuitThe local coalition that fought the FedEx Express hub expansion at the Greensboro, NC airport have settled their lawsuit with the Airport Authority.  The hub expansion is going forward and all sides - if not happy with the outcome - are saying the issue is now ‘behind them.’
-- Greensboro News-Record
October 18 FedEx Express Pilots Ratify ContractThe pilots at FedEx Express overwhelmingly approved the contract negotiated by the Airline Pilots Association and the company.  More than 95% of the pilots voted in support of accepting the contract terms.  The contract includes a 9% raise in its first year and 3% raises in the following 3 years, plus an immediate bonus payment based on seniority.  FedEx previously announced it expected to pay out at least $145 million in immediate bonus payments to its pilots under this contract.
-- Assoicated Press via Marketwatch
October 05 Wilmington, Ma FedEx Home Delivery Drivers to Vote Oct. 20The upcoming vote by Wilmington, MA Home Delivery drivers is analyzed by the hometown paper.  Teamsters Local Union 25 and the group of Wilmington drivers are moving forward together despite the company’s effort to still claim the drivers are ‘entrepeneurs’ and ‘independent businessmen.’
-- Tewksbury Advocate
September 28 Federal Judge Rules EEOC Can Get FedEx Express DocsThe Equal Employment Opportunity Commission is suing FedEx Express to get documents on the “Basic Skills Test” for Express employees.  The federal judge has ruled that FedEx must deliver the documents as the EEOC is conducting its congressional mandate to investigate employment discrimination claims.  This EEOC lawsuit is closely tied to civil litigation accusing FedEx Express Western Division of discrimination.
-- Arizona Business Gazette
September 14 Scrutiny of FedEx Board ContinuesAs the FedEx Corporation annual shareholder meeting approaches, more independent research firms are issuing reports on FedEx corporate governance.  Two firms - Institutional Shareholder Services and The Corporate Library - are cited as issuing statements on FedEx Corporation.  ISS advises support for the full slate of nominees for the FedEx board while The Corporate Library gives the FedEx board a ‘D’.
-- Memphis Commercial Appeal
September 12 Shareholders Urged To Withhold Votes on FedEx Board MembersA corporate governance adviser, Proxy Governance, is recommending to shareholders of the FedEx Corporation to withhold votes on 5 board of director nominees.  Proxy Governance cites excessive pay for CEO Fred Smith and lack of oversight by the FedEx Corporation Compensation Committee members.  The firm recommends withholding votes - essentially votes of no confidence - for Compensation Committee members James Barksdale, August Busch IV, Philip Greer, Charles Manatt and Paul Walsh.
-- Associate Press via Businessweek
September 11 FedEx Freight National LTL ProfiledThe hometown Memphis Commercial Appeal published a limited profile of the strategy behind FedEx’s purchase of Watkins Motor Lines and the possible implications for the LTL industry and new FedEx National LTL workers.  FedEx CEO Doug Duncan would not say whether or not the company was considering layoffs among the former Watkins workforce.
-- Memphis Commercial Appeal
September 07 FedEx Express Driver Awarded $500,000 in Discrimination JudgmentA San Francisco jury awarded a FedEx Express shuttle driver $500,000 after finding that he was the target of retaliation and discrimination.  Driver Ed Alvaradohas claimed he was targeted for retaliation after making repeated Equal Employment Opportunity complaints against FedEx.
-- Forbes
September 07 FedEx Freight Completes Watkins PurchaseThe former hometown paper for Watkins Freight Lines files a longer, more detailed story on the completion of FedEx Freight’s acquisition of Watkins.  The new company will be re-branded as FedEx National LTL in the US and FedEx Freight Canada north of the border.  The article does not dig into possible layoffs or other changes that may come under the new boss in Memphis.
-- Lakeland Ledger
September 01 NYC Issues $107m in Parking Tickets to Delivery CosThe AP files a story on the program in New York City for certain companies to quickly pay fines for parking tickets.  A UPS spokeswoman says, “We receive by far more parking fines in New York City than anywhere else in the world.”
-- Atlanta Journal Constitution
August 31 FedEx Freight to Build Center in ColoradoFedEx Freight was named as the first tenant in the Iron Horse Industrial Park near Johnstown, CO.  The 63,00 square foot regional distribution center is expected to open in Summer 2007.
-- The Coloradoan Online
August 28 Tentative Agreement Reached between FedEx and Pilots' UnionThe Airline Pilots’ Association and FedEx announced they have reached an agreement in the terms of the collective bargaining contract for FedEx’s 4,700 pilots.  Details were not released immediately.  The agreement still goes before the full union membership for ratification.
-- REUTERS
August 16 Fred Smith Blames U.S. Laws for OutsourcingThe Associated Press files an article covering a speech by Fred Smith to the National Conference of State Legislators in Nashville on August 15.  The reporter paraphrases Fred Smith this way, “New laws can force business to move abroad, Smith said.” More tellingly is the exact quote of Fred Smith saying he is not pushing for a “robber baron type society.”
-- Memphis Commercial Appeal
August 09 Residents Hoping to Stop FedEx TerminalResidents in Gilberts, IL are organizing themselves to prevent the building of a FedEx terminal in their neighborhood.  The village board of trustees must make a ruling before the terminal zoning issue can be resolved.
-- Courier News Online
August 07 FedEx Ground Signs Lease Outside MiamiFedEx Ground signed a lease for a distribution center to house both FedEx Ground and FedEx Freight in West Palm Beach, Florida.
-- Memphis Business Journal
August 07 Missouri Gives FedEx $1.6 million for 119 jobsA new FedEx Ground facility in Kansas City is receiving $1.6 million in tax breaks.  The company has said the new facility will create 119 jobs.  The news report does not indicate if the 119 jobs were full-time or part-time positions.
-- Kansas City Business Journal
August 04 FedEx Sells $1 Billion in NotesFedEx Corporation yesterday sold $1 billion worth of unsecured notes.  The notes were sold in two parts with $500 million coming due in 2007 and $500 million coming due in 2009.  The Fitch Ratings’ press release summarizes FedEx finances at this moment.
-- Fitch Ratings
July 31 FedEx Ground Plans New Hub in Durham, NCIn the latest of FedEx Ground’s announcements, the company said it has selected a site in Durham, NC for a regional sort facility.  The article notes “North Carolina has pledged a $115 million incentives package over 25 years for the Greensboro hub.”
-- Bizjournals.com via Yahoo
July 27 Fitch Ratings Overview of FedEx CorporationFitch Ratings initiated coverage of FedEx and issued a press release outlining its analysis and conclusions.  The debt ratings firm gives an overview of the business operations and potential concerns worth highlighting for investors.  Among the concerns noted are the stalled contract negotiations with the ALPA pilots union, the ongoing litigation surround FedEx Ground drivers and the Teamsters.
-- Fitch Ratings
July 19 FedEx Executives Get Two Raises in 2006The FedEx hometown paper digs deeper into the pay and bonus packages for the company’s top executives including Fred Smith.  Oddly, the headline hints that the packages were less than generous since the annual bonuses for executives in 2006 was lower from 2005.  The article introduces some context by comparing the FedEx bonus structure to other companies’ plans (hint: it is much bigger.)
-- Memphis Commercial Appeal
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