FedEx founder: When you make work optional, your economy stagnates
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- Опубліковано 15 вер 2022
- FedEx founder and executive chairman Fred Smith weighs in on the state of the U.S. economy on 'Kudlow.' #FoxBusiness #kudlow
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I had one job where my co-workers were extremely hard working, efficient and never complained. It was difficult for me to even keep up with them. Then I went for an eye exam and got a new pair of glasses and realized they were robots.
😆 🤣 😂
slaves not robots
We laugh but that could be a vision of a 100 years down the road, if we are still here.
How bout that new chicken sandwich at Wendy's?
The other side of the coin is employers aren't paying the people who are working, anywhere close to what they should be. Double and triple the work loads but the bosses not meeting the labor with meaningful wage increases.
Bob Martin, I notice employers paying at least $20 an hour or better are having little to no problem getting employees. Just saying you are correct in your analysis.
What is your profession? Are you working? Etc.etc
I have also seen workers who don't even try to work , but want the paycheck.
@@anitakristensen4679 yep all talk and no show!!
@@cowboywoodard2569 or standing , sitting with their phone in hand .
Larry! Bring this guest back for an entire 30 minutes! It was good listening to you both
Feed Smith is a brilliant businessman. I love hearing him talk about where the economy is headed. He should run for president? He has my vote, but I'm biass... I'm a 30-year FedEx employee. 😊
As a Express employee and Marine veteran. We need better hourly pay scale and wages and benefits! WE CANT SURVIVE WITH HIGH WORK FLOW AND LITTLE PAY! Newly hired employees are making more than the 5 year employees because the “economy” and we have a this new guy “Raj” in charge we have total loss of faith in him….. - struggling Express employee/Marine veteran
Or maybe you should find a different job?
Look for a better job then?
Pick up your guns again and Contract overseas physical security. Look at the KBOSS contract in Kuwait as an entry point.
@@Jj-gi2uv The problem with American capitalism is it works and much of the rest of the world is simply jealous. Having lived in six countries thus far spanning four continents I've seen some of what a few other systems have produced.
@@The-Contractor I don't even see Jj's comment
When you pay your workers crap with crappy benefits they leave.
Be lucky, your working back in the day we laugh at you go fly a kite
@@cowboywoodard2569 times changed. There's something else for you to chew on. This labor shortage isn't just an American thing. It's almost in every country around the planet. Within a few decades it will be in every country on the planet.
The real question. Why???
@@everythingisfine9988 that's a real for definite question, I ranch and here in the country where big cities say 50 to 60 miles away in either direction I can find help? There are tons of illegals that will work..I won't hire them.with all of these they will be our work force watch and see.just saying
@@cowboywoodard2569 your options are better than most. My brother is having a hard time finding dependable locals to expand his business. One of my friends who does hire people who are legal for drywall work said that he's coming up short to staff that role way more often. And all I see are help wanted signs all over town and my email is blowing up a job offer's every hour.
But I think we have it better than others. One of my friends family members is having to seriously think about leaving Europe for a third world country. At his age, he requires more home health aids. And they just aren't any people in his home country. His money will go further in Southeast Asia where he can afford someone to come by daily. Not sure how long that'll last. I'm guessing he's figuring he'll check out before having to face that situation.
@@everythingisfine9988 I'm from the city. I want to farm myself but a you can imagine I don't really have that option. Ppl are getting paid crap man. I've worked all my life good and bad wages. I know.
Times have changed and now stock market is all about pump and dump leaving retailers as bag holders. Bag holders turned to long term investors will still bag hold and stock might go to zero. There is too much news, too many analysts, too many factors, too many firms, insiders influencing the stock price. Retailer money is being sucked. I made $172k combined net last year and paid no Federal taxes.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts...
@@svengrot7943 Agreed i like this mentality. You can never time the bottom but if you're getting good value, take it and in the long term you'll be rewarded :) . Personally I’m always invested because the financial-market for me seem the only way forward with my long time horizon (accrued ROI of over $200k since 2020 )but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe!
@Stanley Edwin My advisor is “Theresa Mary Chamblee” You can verify her and use her services if you want.
company have to go broke completely , ford will always make ford cars
@Stanley Edwin my 401 is the same as a year ago. I don't know the answer it is frustrating. I just have to wait until it goes up
If you don't want to work for your living, best thing I can say is to learn to speak fluent Mandrin because you're going to need it, and when they come they won't be friendly generous masters.
That’s their plan.
Why work when you can be a bum, drunk or addict? And still get something for nothing. Cheers Stuart.
There is a big difference between unable to work and unwilling to work. There are lots of people collecting social security disability who are not disabled. Why not 87,000 agents to investigate social security fraud instead of 87,000 new IRS agents?
Why work when you need to have 2 jobs to barely afford rent,energy bills and food?
Smart people would be beggars,robbers,stock traders in this economy.
Bravo 👏👏👏
Because THEN it would put the spotlight on how The DEMOCRATS BUY VOTES!
Because many of the people on S.S.D insurance are being forced to live on as little as $800 a month. If they work they lose their benefits. If they get ANY money they dock their benefits. If you've got a serious neck injury you aren't getting a job. They don't want you on their insurance. If they want to make life harder for the people least able to defend themselves that would be the way to do it.
@@mikepowell8611Only if they are unable to work should they collect disability insurance. If they are unwilling to work they should not collect any disability money. Why do you think honest people should support them? They can go to work like most people do. Do you really want to live in a welfare state where everyone, except those in government, are poor?
FWS just spelled it out for those that will listen. His SWAG is more accurate than this Administration could ever hope to be. Too much spending and a poor energy policy.
I have been a manger for 30 years. Hired hundreds of people.
This current generation has a lot of people that will make it through what’s coming. But over all, they are a spoiled, self entitled and want what their parents have without putting in the time and effort.
Time to take the safety net away and force these lazy people who cry victim back to work.
They might find being a self made person has a enormous feeling of satisfaction.
You nailed it, Perfectly said! 👍🏼👍🏼
You hit the nail on the head. The past 2 to 3 generations are too lazy to work, because of the safety nets, given to them by both the government and their parents/grandparents. Not to mention, all illegals in this country, are being paid all kinds of free benefits by the USA government, from past generations of American citizens hard earned money, which they need and deserve.
Don’t worry the work force is pouring in
at the border. I just had a driver who has
been here in the us 9 months.
I had my fingers crossed the whole trip.😱
AMEN!!!
AND THEY ARE DUMB ALSO!!
PLAIN DUMB!
YES! I would add a lot of them will NOT survive what is coming.
I sure would like to know how people who don't wanna work can pay their bills
drive Cadillacs, are draped in gold & designer clothes, have the best electronics on the market, yet pay for food w/gov vouchers & receive pay raises for every child born... dem sick policies.
You can do better on government handouts than working for $10 per hour.
My daughter once worked for govt, these people live off their families, they can't make it on their own, buy food with their stamps
I thought he just gave an example of that.
I see more people who are choosing to downsize to live in their cars to live in tiny houses to take part-time jobs or gigs or simply make money on their money through cryptocurrency
Heard him speak at my nephew's Miami University graduation ceremony! Smart , patriotic and innovative!!!
Finally someone that can explain the economy in detail, excellent guest!! I would like to hear more from him
Clear mind
"We just need to get the right policies in place" says Fred. Truer words were never spoken
What he means is starve people until they work for almost free.
Policies like a unionized fedex. The market crash couldnt have happened to a worse company. Sham on you fedex for treating contractors as slaves. I hope other companies eat your market share. Your practices have taken me a republican and make me wish for unions. Many people cant leave their job because of debt owed on their truck or debt on the route they drive.
@@thedude5040 you're a little misinformed
He can go pound salt. FedEx is trash right now. I have had multiple packages lost AND stolen! No one does anything about it. As a business owner it's terrible dealing with them. UPS has been choice for all of my packages sent to me from wholesalers because of how terrible FedEx and USPS has been. How you run things internally is everything.
What a load of crap you just spewed.
You never voted Republican in your life.
And in the end you run out of other people's money.
I work at UPS as a truck driver and I can tell you that as a logistics person you get to see how good the economy is doing better than most people. If you walk in the building and you have to crawl over packages the economy is doing well. If you walk through and the ground is clean the economy is bad.
These employers should pay there employees better oh well these companies can keep going to crap, the new age adults aren’t standing for the crap there parents went through on these jobs .
Exactly
So open your own business?!
There are many with a strong work ethic who are frustrated by the corporate heads hand holding those who who don’t.
Corporates don't care about you they never have never will your hard work will never be rewarded they are entirely beholden to the share holders
Lately it feels like deliveries to my house on time from Fedex are optional
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks.I believe having 150K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
@@Alejandracamacho357 Hi , please who is the expert assisting you and how do I reach out to them?.
@@Robertgriffinne The broker I'm in touch with is *STEPHANIE PRISCILLA BONILLO. I came across her in a Bloomberg interview and got in touch with her. You can use something else. For me, her strategy works hence my result. She provides entry and exit point for the securities I focus on.
@@Alejandracamacho357 Thanks for sharing, I just looked her up online and I would say she really does have an impressive background on investing.
@@Robertgriffinne This person is scamming you. Stephanie Priscilla Bonilla was never on Bloomberg
There's plenty of people that want to work or serve but the corruption of medical personnel has not only killed thousands but keeps thousands more from participating in society at any meaningful level.
Health is economy. The wealthiest are the healthiest.
@@robertagren9360 you are 200% correct and I wish I had learned this or someone had taught it to me or fought for legitamate care many years ago.
@@robertagren9360 Prove it. Nice catchphrase but you'll have to provide unbiased statistics to back up the claim. First, define what you mean by "healthiest." What exactly does "healthiest" mean? They don't contract diseases? Their cardiovascular systems are unrivaled? They never get cancer?
There is no such thing as good intentions when it come to Biden !
Got that right! 🙂
Fred Smith received a C on the thesis that he wrote because his professor thought it was impossible. Smith had come up with the idea of overnight flights into one airport, ( Memphis ) to perform overnight shipping anywhere in the lower 48. His professor countered the idea saying it could not be done. In this case, the C student outperformed others who received an A.
His founding of the company named Federal Express, later morphed into just the name Fedex, since everyone had shortened the word in everyday terminology.
He’s a legend, a visionary, and a genius. Oh, and a war hero.
And he built an A+ company from the ground. Worked for him 18 yrs. and my husband 30 yrs. Wish him any blessings.
@@njerseydavid m
@@njerseydavid I agree. Just recently, a Fedex driver left a package on the wrong street, and it took me a week to retreive it. Another shipment took 2 days for an overnight. The US Postal Service is now much, much better.
Some 90% of all fedex contracors (employees) have no trust in the Fedex CEO because he treats them as slaves. The stock crash couldnt have happened to a worse company. Fedex deserved the 20% hit and deserves some more. Most people cannot leave fedex because of the debt they owe on the trucks they drive and the routes they deliver.
I loved his performance in “Cast Away”
Worked for Fedex 18 years starting at 23 yrs. in the 1980s. Love that company and I wish Mr. Smith many blessings 🙏
18 years for me too.God bless him!
10 wonderful yrs employed in the late eighties and 90's! I still get a flutter in the heart every time i see their planes and think back to my jump-seating pleasures & adventures! One of the best employers at the time and an honor & privilege to have worked for Mr. Fred Smith.
I work at FedEx and honestly our paychecks went from $700-$1000 to $500-$400 . The contractors aren’t paying us or giving us the work we need to survive. A lot of our delivery guys had to pick up a side hustle or second job just to make ends meet.
We need to stop payments to people who could work but do not.
EXACTLY. How are these people able to survive without working? Because they are getting money from the government. I get constant calls from the people trying to get me to sign up for a loan from the federal government for small businesses. They were supposed to stop those awhile back but they aren't. I delete and block them every time. I refuse to be a slave to the government and rather run my business free of them.
@Cr B hey you complete imbecile, they have already put their time in. My gawd are you really this dumb?
We aren't paying them now. What do you want?
So you want to take away the $63 I get a month because after 35 years of being a slave I tried to be my own boss and the papacy crushed that too? What a nice person you are, very humane. Not everyone has the same story but you think making people more impoverished will force them into work...the government doesn't want employees. They control the money better when majority is on a social program...makes embezzling those MULTI TRILLIONS easier. Pointing fingers at the lower classes just like a wealthy politician.
@Cr B exactly! Warren Buffett collects his social security check every month...wtf he doesn't already have enough?!
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I do not know much about the market but based on little knowledge i have on economic supply and demand, this is the best time to venture into the market but the only thing holding me back is the steady fluctuations in prices which is not suppose to be a problem, but i really need a guide
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Who is not working? Everywhere I look, everywhere I go, everyone I know , everyone is working.
Go look in the ghetto
Iris -Go Go dolls
And I don't want the world to see me
'Cause I don't think that they'd understand
When everything's made to be broken
I just want you to know who I am
It's time to call it like it is...these last two generations don't want to work. I'll take the flack for my comment, but why is it, every business we drive by has a "now hiring" sign in the window or out front... acknowledge the truth.
The problem is the older generations wouldn't let them work because they wanted to work until very old.. there are labor rules that block working last generation at the ages most people should enter the workforce.. and the minimum wage isn't worth working when young people do the same job or worse and get way less... Candace Owens said she doesn't think young people should get minimum wage.. that is crazy.. she doesn't understand there are people who work 1 hour a day.. she would say they shouldn't get minimum wage then wonder why they just won't work.. because there is nothing in that for them.. people know what waste of time is..
King Jack. Spot on. I work at a job that is very well paying. But on most days all the older guys work while the young guys go home because they don't want to work. It's not a matter of older generations not allowing the younger ones to work. The work is out there. They just don't want to do it
@@deathsentence87 What are you talking about. Older people will not you go to work????? Employers are begging people to go to work at ridiculously high wages. Minimum wage has become irrelevant.
I’m not Jack.
Lol. Is that your take away from this video? You sound stupid
Let's start with recalling all of the PPP Loan (now a grant/corporate handout) money that never went to payroll.
Working optional is not the problem with companies not finding workers, it is decent pay for the job.
YES! Currently, most singles have been priced out of buying a home or living in a nice apartment. Luckily, I purchased in 2017, by myself. Out of curiosity, I checked to see the rate of my old apartment: $1000 higher now than at the end of 2017. It was nice, but not that nice. That would make it $2400 today in DFW. SMH And that's a walkup too!
Government payments can be tracked to SS numbers so its time to see how much individuals have received in support and push them into reality if they are simple sponges while others work
Omg, and then you can report them to the Ministry of Truth, or even the Ministry of Justice! Big Brother will know what to do!
I wonder how many people standing on street corners begging for money are on the government dole? If they can hold a sign, they can be stocking shelf's.
so give people money and then if people decide to use that money to lay low and have a good time for a while, you gonna put them in prison? instead they gotta spend it all on the beast machine to keep it running and then go work for the beast and do what they told or be chained eh??
Well,considering that Nigerian cyber gangs were able to get hundreds of thousands of dollars from the unemployment departments around the United States,without prosecution,then you can see they won't do anything in this case.
@@seawaterjohnmiller7118 Work for the beast ? . You mean have pride go to work and keep you and your kids instead of expecting money to magically appear when in reality there's poor taxpayers funding your lout lifestyle . 🤣😅😂🤣😅😂 TYPICAL SOCIALIST BS RHETORIC Biden voter alert ⚠️ .
When you begin your term of office by initiating dictates and legislation that artificially raise energy and labor costs you artificially raise the costs of goods and services.
The best news on the web!!😊Love ya Larry!
When free lunches are available to one and all, 24-7-52 who wants to work?
I love economics and Fred Smith has for a long time been sort of "At God Status". Thank you Larry for this interview and I am going to listen to it over and over, maybe ten times to make sure I do not miss anything. Freds wealth of knowledge is incridable.
I have been retired for 3 years but my previous employer keeps calling me to help out and I do. What really gets me is that the young people look like they already retired at 20 years of age? How are these young people getting by, I guess by mooching off dumb parents that don't tell their kids to go out and get a job.
The people's representatives in Washington should not have "work optional" options. We agree, they don't accomplish anything, ever.
That was some good news that I wasn't expecting..lets hope America gets it right this fall
Want to get seniors back in the work force part or fulltime? Make is so that we don't have to pay any taxes at any level of government and make all income exempt from income tax filing. You'd see a ton of seniors get back into the workforce.
No thanks, gramps.
First of all, that will only work for a short time. The seniors will get to the point where they don't want to work, and eventually can't.
Second, the taxes will be shifted to other areas so we'll still pay about the same.
The government has been running scandalous deficits for almost two decades, and deficits extending a decade before that. Only for a short time when Newt Gingrich was SotH did the country run a surplus. The cost of the deficit is interest on the debt. That is a tax on future generations. Those of us that have been asking for responsible fiscal policy and governance weep for those generations.
@@eddarby469 We can use the help right now, I would work if I could get a decent job.
@@richardmccann4815 I expect you could get a decent job if you look carefully. But we need to give up on the idea that "we" deserve a special deal.
I believe that "experienced" workers are still valued in the workforce because we have manners, realistic expectations and a solid work ethic. We show up. We don't spend half our day playing "thumbsies" on our phones. We understand the customer has expectations. I have plenty of experience working with the generations behind me. They expect everything to be delivered after a keyboard inquiry. They were educated in a different paradigm.
Good luck, my friend.
We are
There was a time when we " made it here", we had jobs for everyone and the products were of high quality, then the 1% wanted everything. Now Inflation drives prices up and if Inflation is high and jobs disappear by the millions we are in a recession and maybe headed for a Depression…So be careful with your money. It may take decades to get back on pay again. Luck to all.. I've seen folks make huge 7figure profit in a crashing market and pull it off much easily in a bull market Unequivocally the crash/recession is getting somebody somewhere rich...
Subpoena.....I expect this ceo will receive an SS guard subpoena to appear...and his phone will be confiscated..it really is that far gone now.
I guess the people in Washington and you know where.
I really enjoyed this interview. I love the knowledge and the information I found out. Thank you.
looting is our trade. we is experts.
support your Local Looters Union.
Yes exactly!! Union workers, at least UAW is abusing the system as much as they can. And they don't get fired because the union will fight for their job. If you're a hard worker, don't work for a UNION, you'll get used and abused.
FedEx is non-union
I've known 'of' Fred Smith for years b/c of a family work association with FedEx Ground...this man is not only brilliant, he's a gentleman and a diplomat...I wish he'd run for office..or even President. We need more like him in gov't.
I sure hope not. I'm conservative and gave my greatest working years to FedEx. I was so proud to be an employee when I first started but, 13 years later, I realized that no matter what numbers I brought in, I wasn't in the right ethnic category and that I would never move up.
@@rcar9115 Did you leave? Also, do you think Fred Smith was directly responsible?
he probably grabbed some bobs once in his life so can't run for president
@@dinahsoar6982 Yes, I left after thirteen years and started my own company in real estate. I think that the company got too big too fast and that Mr. Smith was not aware of what was happening in the stations where the couriers were... well, at least that's what I hope the reason was. I loved the job in the beginning and worked every minute I could there but I soon became aware that there was no advancement potential for me because of my light skin. Sorry, but that's the truth. Now, when I receive packages, I see a drastic change in service and the employees are very disappointing in their service and behavior. It's a shame.
@@rcar9115 No need to be sorry, the truth is the truth. Totally agree about FedEx Ground service..it stinks...my son graduated from college in '92 and went to work for RPS (Roadway Package Systems) which was spun off by Roadway Express and purchased by Fed Ex...he has done well and eventually became a director in FedEx business...he has light skin too, but things were different back then...today 'equity' has replaced equal opportunity giving an unfair advantage to certain special interest groups, which is imo just plain wrong. We've got to fight this before it destroys us..I wish you the best in all your endeavors.
When you inflate the money, fail for YEARS to keep wages up, cut benefits, but owners continue to get richer and richer, don’t be surprised when the workforce gives you the finger !
Don't forget they gutted pensions and medical benefits too. Most are long gone. Those were big incentives to get people to stay at jobs.
Inflation makes everything worth more. Of course the rich get richer. Their assets are worth more because democrats insist on printing more money. It’s paper wealth not actual dollars.
@@rons5319 Who >>exactly
IMO, If you want your package late, lost, damaged, misdelivered in my area, use fed ex
4:48 The interviewer said it, “we need more producers” not employees, partners, etc. is it just me or, did I hear slave?
“When you make work optional” businesses need to make their vacancies competitive… like any other market
Simple solution, go back to the old school that the greatest generation grew up with. You don't work you don't eat. If it weren't for them we wouldn't have such an easy life we have been living.
I know I could never implement this, but my policy would be that nobody on public assistance is allowed to receive more than an E1 in the military. If that's what we pay E1s, then nobody can have more for doing nothing.
@@eddarby469 Public assistance should only be a temporary thing, not a life style. I have no problem helping the truly needy or handicap but these people that only game the system need to be removed from the system.
@@johnmnorris9397 I agree with you. How do you propose to get there? My proposal will get us there by letting folks know you need to work to find a better option.
Very well said Mr. Fred Smith I will always liked your opinion 👍🏻👍🏻👍🏻
Brilliant insight by Mr. Smith
Lots of people who don’t want to work in the comments tonight. Bad grammar as well.
Someone has to handle those package at sometime in the shipment from origin to destination. I always had to be at work or I'd be fired right then and there.
Things are about to get worse for them. They just bowed down to the Democrat party, and banned the shipping of gun parts, which is a big part of their business.
@@chrisgullett4332 So UPS only now, or did they cave in too?
@@chrisgullett4332 did not know this fact. Very informative. No sarcasm.
@@chrisgullett4332 that’s interesting.
@@mysterymachine94 Just look it up, because UPS already sent out letters to all the major gun parts companies, and even the smaller ones, and told them they were terminating their partnerships. Even before they announced no more gun parts can be shipped, they took packages from normal customers. The first one that got media attention was when some guy sent a red dot sight to his friend, and they sent him a letter telling him they destroyed his package because his item was not allowed to be shipped through UPS. So they are even refusing to ship accessories like red dot sights. What happened is the white house announced the shipping companies should stop shipping 80% lowers, which was clearly a threat to the shipping companies. So the shipping companies bowed down, and banned all gun parts under the guise that people were making ghost guns with those parts.
Lets see him work 90 hours of physical labour with no air conditioning lol
He forgot the culmination of decades of Corporations paying below average wages to the workforce and the end result of the baby boomers saying to hell with it.
The low end jobs don't pay enough to survive in this clown economy.
As an employer in healthcare it’s still very difficult to find workers and every department I work with has staffing problems.
Maybe they should hire people with better bedside manner & at least a little education. NYC I don't think even requires a medical terminology certificate 😆
@@ianklopper6992 i don't care about the papacy. Render unto Cesar...simply stating a fact that the world is highly illiterate & rude. I don't work, did that 35 years to have Obama keep my pension. Intimidate, manipulate, dominate... Who wants that crap from a micromanaging boss... Have a great weekend
Have you thought about paying them better?
We now have 3rd world Healthcare in America. Avoid hospital and doctors, they can't be trusted.
@@rebeccabrown2710 never could. I worked in medicine in the 90s & everytime I asked questions, I'm school or otj, I was told to "mind my own business"...uhok
Young people do not want to spend the only life they have delivering packages ,being constantly under surveillance via camera ,breaking down their bodies slowly etc etc what a shocker.
Then get used to living on the streets
Brilliant interview
Inflation comes in hotter Than expected and the market has been rallying. If you needed a real-life example of why it's nearly impossible to time the market, here it is.
Too many catalysts coming out there are constantly affecting the market. Best strategy to use is DCA.
Consider the economy as One huge Engine that produce the lifestyle that humans Live & prosper & create a healthy financially secure future for their families. Corruption, manipulation, creation of unhealthy political policy & Diplomatic Environments is recipe for Engine failure. People are equally losing money in the financial markets in the midst of all these.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire. Personally I hired ‘’Elena Ann Richard ’’ a financial advisor who sets asset allocation that fits my tolerance and risk capacity, investment horizon, present and future goals.
@@petersantosh5506 Please, your coach you mentioned, how do I get in touch her?
@@bukapechacek3038 just look her name up online to get in touch with her, her details are provided online (ELENA ANN RICHARD)
It would be nice if wages would come up to what it cost to live in todays time not 20 years ago.
Well think what food will cost you,house,car etc etc. Or better yet open a business your self!!??
In case you have not noticed:Take notes:
NOBODY IN AMERICA GETS EXCITED ABOUT A $ 7.75 TO $20.00 PER HOUR "JOB".CATCH A CLUE♻️
In the UK where I'm from higher wages are all well and good but increasingly its the undertaxed big boys' businesses that can only really afford to pay them along with all the other associated costs of employing people and it's often the big boys who are constantly crushing the nuts of the SMEs' margins.
By turn, it's the SMEs that form the backbone of the tax base so something, somewhere has to give.
Fred has a great understanding of the absurd policies that have led up to today’s labor crisis in the USA. However, he unfortunately couldn’t see that the current person he put in as CEO of the FedEx corporation was the absolute wrong choice! Raj is showing that he has no idea how to run a multi billion dollar vital company, ie FedEx. I have no confidence in Raj as the CEO. Fred, please take back control of the company and stop the ridiculous new initiatives that Raj is allowing to happen! Also, Fred gets it; when people decide they don’t want to work then FedEx and many other companies experience labor and logistics issues! Which then leads to the past year’s supply chain issue! The choices of the corrupt NIH/NIA and the current President and his administration have completely compounded the supply chain issue.
@@mmodeon9140 I have a friend who's a hard worker just quit FedEx after a year. He said in that time, he had three different bosses, no one seemed to know what they were doing, the left hand had no idea what the right hand was doing, morale was almost non existent. . It was a temporary job for him and he's glad its over.
@@mmodeon9140 Do you work for a FedEx Ground Contractor?
As a company who does several million with FedEx (under 5million) this is not a surprise, this is a direct fall out from them being too busy and forcing many companies to find other options and now we are using other freight companies and our accounts are happy with it. This has a lot more then the Economy to do with it. Let’s maybe interview someone other then the CEO who is trying to salvage the stock price.
True
Absolutely correct!
... but imagine how much busier, stupid busier FedEx would be if they would have kept the Amazon account the way that UPS and USPS have kept Amazon on account for shipping and handling.. when you talk to those two competitors of FedEx they are jealous that FedEx thought it through carefully, and they dislike seen Amazon coming down the conveyor belts
BINGO!!!
@@junkjournalplanner2026 and bingo was his name-o and bingo was his name-o
Love Fred Smith, my hero
Yeah the Fed Ex founder needs to be put in prison. He pays his workers 12 dollars a hour, works them 15 hours a week, and makes them work in appalling conditions and does not offer full time work and out sourced all their driving jobs to third party contracting companies to avoid offering healthcare.
Fed Ex is a company that needs to be unionized like UPS.
Imagine that the 'Free' market is demanding higher wages... It's simple, if you want people to work, pay them more, treat them as a human being and you will have employees.
Well said
Yes higher wages is what they need to do this guy doesn’t need anymore money he has probably way too much. This guy could be told we need slave labor and he would spew this on national television. The bottom is leading the country now.
@@phoenix3.057 wrong. Higherarchy needs to take a pay cut.
It's not that simple.
Free market is now free money. Get a job.
This guy would have a massive coronary if he was ever unlucky enough to see any real work
😂
Well said!
Work is optional? I had no idea. Guess I’m quitting my job and going on a permanent vacation.
In this video, in a nutshell, explained why things are going so wrong and will continue to get worst before it gets better if we don’t turn around policy from ESG to how money is redistributed (and “printed” though government policies to give away money)
The only thing I slightly disagree with is the educational loan forgiveness, BUT still have to admit it’s inflationary, just not anywhere near as much as other policies such as someone not working making more money unemployed than when they was working.
The loan forgiveness will lead to an extreme increase in taxes. Expect a new round of loan forgiveness every two years, and a corresponding increase in taxes on everyone to "pay" for it. I expect the Fed will print money to attempt to hide the problem but they can't do that for ever.
Saw a news piece the other day and San Fran, CA tax payers are paying a little over $106,000 a year per "homeless" person.
Fedex deserved all the losses last friday. Fedex employees (contractors) cannot leave because of the debt they owe for the trucks they drive and the route they deliver packages on. Fedex also has the absolute worse safety ratings because package truck drivers do not need CDLs.
Thia shows the difference between a business person and a politician.
@@altaylor293 fedex still deserves more finnancial hardship. This is one company that needs a union because of their lack of saftey, poor pay, and no health insurance for drivers
He fire his largest subcontractor because he needed more money due to fuel and maintenance cost going up 3x .
Agreed! Don’t get me wrong That FedEx Contractors receives Wholesale Fuel through FedEx at FedEx Terminals that FedEx Buys at Wholesale Cost from The Refinery’s (same price that Local Truckstop purchases it at) and also receives a Discount on Tires. FedEx though has been charging a Fuel Surcharge and not passing it on to Contractors or ReNegotiating Rates to Reflect Increased Cost. Not to Mention the ability to Not Find Truck Parts, 2 Yr Wait to Purchase a Semi Truck that has Increased OVER $50-60,000 in Cost ($215-230,000 for a New Truck), Partly due to Technology Requirements that FedEx Mandates, Increased Cost in Wages & Truck Insurance ETC.
Over 54% of Contractors Stated that they were Losing Money, 35% Saying they were Breaking Even, and Only 11% of FedEx Contractors Surveyed Stated that they are Making a Profit.
Drain the swamp 86 every single democratic policy , do not work for the people too lazy, make snowflakes cry
I love Kudlow
All this and they still get the pkgs. in place on time. You'll come back Fred, just give it time!
Well just this week they announced they are no longer gonna allow gun parts to be shipped. just like UPS they bowed to the Democrat Party, and have banned the shipping of gun parts. So no they are not coming back, it is only gonna get worse for them.
My last FedEx took 30 days...
If employers want workers I have a few ideas:
1--- No mandates
2---- Stop toxic work environments. No politics or religion in.the workplace
3--- Pay a living wage
4---- Bring back manufacturing jobs
5--- Write job ads that look reasonable. Not like you want to hire one worker to do three jpbs.
6---If someone does apply, send an acknowledgement email even if its automated. Common courtesy!
Keep rolling back your odometers on your trucks and make up your income that way!
People are tired of working their azzes off.....for minimum wage, minimum benefits , minimal time off and watching the CEO'S get filthy rich.
It's called a free market guys. Management has the task of improving profitability. Good management does that and reacts to the market conditions, including what's happening in the world. These guys just don't have an effective response to the challenges out there and obviously don't invest in their personnel.
It is like a ant colony. With out producers,,worker, and builders. You have no food, cheap labor with illegals,poor building practices. Equals high taxes for the ones that are working. It puts the city,local,and state in a really hard place.
Except human beings are not ants 🐜
This guy is spot on. Who wouldn’t like to grab a beer with this guy
FedEx is screwed, because their most profitable product (the overnight envelope) has, in effect, been made obsolete by technological advances. In this, they're in a similar position to what the Post Office has become. Their downturn is running about 10 years behind USPS, but will be nearly as severe without yhe ability be receive government assistance. Most FedEx letters have been replaced by PDFs and online forms. FedEx uses different personnel for air and ground parcels (for reasons having to do with their acquisition of RPS decades ago). UPS, with their history in ground shipments, their integration of air and ground as well as their better compensated union workforce, is in a much better position to weather these economic times than FedEx.
Can we stop with the ,” we may be in a global recession” please. Listen I am a master plumber , never , never did I have to worry about layoffs . My company went from 30 full time commercial plumbers to just 11. In a year at that.
These jobs pay 80000-100000k a year.21 years in this business, this is the frist time that I can remember, there not much to bid out there. Even in 2008 we were slammed , we were hiring . Not looking good people.
I’m a master baiter
Hello, commercial buildings are sitting empty because most people are working from home. Why would any more buildings be constructed? Housing interest rates are high, so that dooms home building. It all goes back to the Trump tax cut that overstimulated the economy. Covid made millions of boomers retire and young people don't want to do the jobs their parents were doing.
He hit on it all right “we need producers” we as in the rich business class
So offer better pay and benefits
Title should have been: ‘Elderly FedEx CEO Blames American Citizens For Plummeting Share Prices & Terrible Earnings Report’
Very worthwhile!
Fred, as a one of your workers here at Fedex, you have to stop letting couriers DEX packages for no good reason other than they didn't feel like delivering it. Once you crack down on that, people will start using our services again.
FedEx blew it when they ran off it’s founder.
THEY STEAL PACKAGES
@@johnnypham2850 Its hard to steal at Fedex Express. Ground I can't speak for. Express cracks down hard on that. Packages lost in transit is a different story. Couriers are able to throw packages under the belt or under trucks if they don't feel like delivering at a certain address or building. Ive seen phones, computers, car parts left behind just because they didn't want to take it. A lot of them damaged. And management is spineless.
FedEx stopped being able to deliver packages quickly and reliably at a good price that is what is really going on. Consumers have decided to use alternatives that are reliable. UPS stock isn't tanking, I wonder why? This is all about poor management and leadership.
Hahahaha. You a dumbass. Ups has just as many problems. Their stocks aren't going down cause they are union. Fedex isn't and contractors are packing up and leaving in the middle of the night so when freight comes in there's no one to run and they can't force other contractors to take their stuff. Ups and fedex go back and forth on rates. Watched places use ups for years then fedex comes in with a lower rate and ups does it to fedex. And it's tanking cause people aren't ordering as much either. Ups is low on freight too.
Fedex was always priced higher, Fedex started as air freight only, UPS was ground freight. Those lines are now blurred considerably. Fedex did air much better than anyone.
Fedex used to offer full refunds on any Priority One !Overnight Air that did not arrive by 10:30 a.m. the next day provided you put in a claim.
Every time I order something it gets here on time from FedEx and UPS. Stop lying you clown. Btw , what alternatives are there to FedEx and Ups? I’ll bet your IQ is less than room temperature.
@@anthonyc.9950 back about 10 years ago id agree they was higher. But now it bounces back and forth between fedex and ups. And yes they did, but as time has gone on their freight count has went up and its nearly impossible to do the noon delivery not 1030 never been 1030 in the 15 years I've dealt with them unless you pay more for scheduled time delivery.
Yup
I used to work for that company when FedEx custom critical took over Robert's Express. In that time in history corporate America had a budget to spend and made spend it the last quarter of the year we were hauling freight for mega bucks and she was less than a dollar now is an owner operator you struggle the rights aren't as good and it feels a lot higher
Lets not talk about the Corporations made 3 times there record profits from price gouging lol
We need brilliant thinkers to address the adverse work environment in so many jobs. Constantly hearing from Financial gurus about the fact that getting a job in the trades is less expensive than a college degree is interesting when none of their children or grandchildren have opted to become plumbers or farmers or ditch diggers but instead have college degrees often Master degrees none of them are driving FedEx trucks
Because it isn't WHAT you know, it is WHO you know that moves you up in life.
@@jjjackson5183 wrong!!!!!!!!!!
Fedex drivers make more than many college grads.
@@jjjackson5183 Im MOST cases thats True!!
Do you have any examples of this adverse work environment? Or does “adverse” simply mean you might have to step outside of the air conditioning occasionally?
it about time people step up and call it what it is. It's pathetic the work ethics and Economy. People need to get off the government gravy train.
Don't go work for a UNION, the workers try to do as little as possible and still complain about the work they're doing. The person that is a hard worker in the union will get screwed every time. Everyone else is abusing the system.
Unemployment is still low.
Okay boomer.
@@mysterymachine94 I work in a non union warehouse same thing so no difference.
@@JaJa-mh7wb yeah but at least they're not preaching "brothers and sisters" to you at those jobs. You get what you'd expect from a non union job. Nothing more and nothing less. And for the most part, your hard work pays off, gets noticed more at a non union job. And the politics between the union and the company is absurd.
Fred is a great American. I wish he would run for office.
Fed Ex guy says Putin can't start a war. Well guess what he did.
Pandemic helped Americans realise how overworked and under paid they were. People refuse to go back to that. People are refusing to work for crumbs while thee are OVERPAID CEOS making 20x higher than the average worker.
Speak for yourself
I work with several hard working people each day... Then at the same time I also work near several non-hard working people... The most common thread I see between the two is generational experiences.... The younger generation has more often then not a non-viable work ethic... I cannot remember a time growing up when I or the predominant group around me exhibited such a trait
I have noticed the exact opposite
@@firstlast8258 well I respect your view... This is just my view point of my industry... If you are experiencing this trait in yours than that gives me hope
What about the sickness,lack of oil drilling,green new deal,it all goes to the government policy
" The goal of Socialism is Communism " : Vladimir Lenin