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(Marketwatch)   FedEx posts $160 million loss. Blames cheaper competition, higher fuel costs, Wilson   (marketwatch.com ) divider line
    More: Fail, FedEx  
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1089 clicks; posted to Business » on 21 Mar 2013 at 7:24 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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kab
2013-03-21 08:38:44 AM  
Losing money = not making as much as you predicted now?
 
kab
2013-03-21 08:42:18 AM  
And their revenue is up over this same time last year.
 
2013-03-21 08:48:50 AM  
FedEx is farking expensive.  Last week I shipped 5 large boxes ranging from 40lbs to 80lbs from NoVa to St. Pete Fl.

UPS wanted $160 for ground shipping
FeEdx...they wanted almost $300 for the exact same thing

Take a wild guess who I shipped through...
 
2013-03-21 08:54:19 AM  

Endive Wombat: FedEx is farking expensive.  Last week I shipped 5 large boxes ranging from 40lbs to 80lbs from NoVa to St. Pete Fl.

UPS wanted $160 for ground shipping
FeEdx...they wanted almost $300 for the exact same thing

Take a wild guess who I shipped through...


we know what you were shipping
/shipping rape is expensive
 
2013-03-21 09:19:13 AM  

Endive Wombat: UPS wanted $160 for ground shipping
FeEdx...they wanted almost $300 for the exact same thing

Take a wild guess who I shipped through...


international shipping is a whole different world though. It's usually more competitive domestically.
 
2013-03-21 09:57:11 AM  
B-b-b-but USPS is BAD because everyone else makes huge profits delivering mail.
 
2013-03-21 10:01:57 AM  
There's one professor somewhere that's going "I told him it'd never work!"
 
2013-03-21 10:02:09 AM  
Domestic FedEx is a strange beast. Their delivery drivers are technically contractors and not employees. The drivers pay to maintain their vehicles, pay for their own insurance, pay for their fuel, etc etc. They will make more per paycheck than their counterparts at UPS, but most of that goes into those expenses.

It's not entirely on topic, it's just something that always made me scratch my head.
 
kab
2013-03-21 10:33:26 AM  

MightyPez: The drivers pay to maintain their vehicles, pay for their own insurance, pay for their fuel, etc etc.


Seriously?
 
2013-03-21 10:42:04 AM  
To be fair, fencing costs have skyrocketed.
 
2013-03-21 10:47:46 AM  

kab: MightyPez: The drivers pay to maintain their vehicles, pay for their own insurance, pay for their fuel, etc etc.

Seriously?


Yup. There was even a lawsuit settled not long ago where drivers sued to be called employees but it was upheld that they were "independent contractors."

The drivers use trucks bearingFedEx colors and logos, wearFedEx-style uniforms and serve customers ofFedEx Ground. However, they must pay for and maintain their own trucks, uniforms, supplies, gas, maintenance, and other costs. They get no company benefits.

The website is a little out of date, but that information is still correct.
 
2013-03-21 10:58:19 AM  
Well when you price yourself twice as double the competition you might lose business.  They lost mine.
 
2013-03-21 12:15:14 PM  

pjbreeze: Well when you price yourself twice as double the competition you might lose business.  They lost mine.


What were you shipping?  I don't ship packages very often (and I always use ground shipping), but the last few times I've found FedEx to be cheaper than USPS or UPS.

/last thing I shipped was a 20-pound box, 14" on each side
 
2013-03-21 12:17:06 PM  

kab: MightyPez: The drivers pay to maintain their vehicles, pay for their own insurance, pay for their fuel, etc etc.

Seriously?


Only for Ground/Home Delivery.  Express couriers are regular employees.
 
2013-03-21 12:37:50 PM  

lilbjorn: B-b-b-but USPS is BAD because everyone else makes huge profits delivering mail.


This.

Just wait for when the USPS gets killed off my the GOP. Don't act shocked when you walk into your FedEx store to send some Christmas cards only to be told "We don't deliver there." and "That will be $6 to send one standard letter sized envelope 25 miles."
 
2013-03-21 12:51:47 PM  
FedEx is cheaper and quicker as a whole vs. DHL and UPS. On average I can ship across Canada for less than fifty dollars for a 20 kg box. By air, FedEx averages about $150 less than their competitors.

Their customer service sucks. And they really need to streamline their international services so I don't want to firebomb them after three hours and several emails, phone calls and reps going "I don't understand what you're talking about" in three different languages.

/Trade show shipment from Canada to Milan to Barcelona to China to Australia. Must do paperwork on each nation's website for FedEx
// China does not allow online bookings, spent 45 minutes trying to get a pick up arranged from my freight forwarder's warehouse
/// Yes, I work shipping and logistics. I actually like it a lot. 700+ pages of harmonised tariff codes is fun reading. Let me know if you need to ship a nuclear reactor to Botswana.
/slashies slash slash
 
2013-03-21 02:19:58 PM  

Endive Wombat: FedEx is farking expensive.  Last week I shipped 5 large boxes ranging from 40lbs to 80lbs from NoVa to St. Pete Fl.

UPS wanted $160 for ground shipping
FeEdx...they wanted almost $300 for the exact same thing

Take a wild guess who I shipped through...


One of these companies is unionized. The other is not.
 
2013-03-21 02:36:53 PM  

mjohnson71: Just wait for when the USPS gets killed off my the GOP.


Two words: Constitutional mandate. Although it's not beyond the Republicans to deny people and entities that which they need to survive.
 
2013-03-21 04:06:25 PM  
Generally, I prefer UPS but I will ship Fedex when mailing packages to my parents (they retired to the woods of SW Virginia, outside of Roanoke).  The local Fedex guy is a bit more reliable then the UPS in that area.
 
2013-03-21 05:45:34 PM  

kab: Losing money = not making as much as you predicted now?


It's how companies justify giving raises of less than 1% to the majority of their employees. We must always think of the shareholders first, code for board of directors. Essentially, fark you, gimmie more.
 
2013-03-21 10:09:18 PM  

MightyPez: Domestic FedEx is a strange beast. Their delivery drivers are technically contractors and not employees. The drivers pay to maintain their vehicles, pay for their own insurance, pay for their fuel, etc etc. They will make more per paycheck than their counterparts at UPS, but most of that goes into those expenses.

It's not entirely on topic, it's just something that always made me scratch my head.


That's only the drivers for Ground.  The Express drivers are direct employees of FedEx.  It's weird.  I think it has to do with FedEx buying out another company some time back to handle ground shipments - I had it explained to me once but I don't really remember all of it.

Rule of thumb: FedEx is faster, UPS is cheaper.
 
2013-03-21 11:21:43 PM  

lilbjorn: B-b-b-but USPS is BAD because everyone else makes huge profits delivering mail.


Ah but you see if USPS had to be sold off because it wasn't able to make ends meet then surely FedEx would make mountains of profit and have to hire on every former USPS employee and even more just to keep up with the new demand that they'll get.

MONEY AND JOBS FOR EVERYONE!!!!

/This is what congress doesn't actually believe but really and desperately wants to sell
 
2013-03-22 12:00:11 PM  

timswar: /This is what congress doesn't actually believe but really and desperately wants to sell


I dunno. I think lots of politicians have passed beyond the stage of cynically selling obvious BS, to actually sincerely believing the BS.

That is, if someone spends enough years bleating "private sector good, public sector bad", it becomes easy to convince themselves that merely changing who signs peoples' paychecks will magically make them more productive.
 
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