Fed Ex Posts Loss & Refutes Fed
Fed Ex, #2 package deliverer driven by record high fuel prices and a weak U.S. economy to report a Q4 loss of $241 million vs year ago profit of $610 million.
FedEx CFO Alan Graf: the coming year will be "very difficult due to the weak U.S. economy and extremely high fuel prices."
FedEx's fuel bill for Q4 surged 54%, to $1.39 billion. FedEx controls about 31% of the U.S. package market, behind only UPS's 51% share.
UPS CFO Kurt Kuehn getting it right like his CEO, unlike clueless Fed heads Bernanke & Lacker "the downside risks to growth have diminished"...
this rubber meets the road CFO said there are "no signs of economic strengthening" clearly indicating that downside risks are not diminished.
The Nattering One muses... Who do you trust? Two paid liars that live in the fantasy laden "core"? (sans energy & fuel costs)
or a reality based person who knows where the rubber meets the road? The only things I see as diminished:
the mental capacity of the Fed heads; the Fed's credibility and its ability to deal with the situation at hand.
FedEx CFO Alan Graf: the coming year will be "very difficult due to the weak U.S. economy and extremely high fuel prices."
FedEx's fuel bill for Q4 surged 54%, to $1.39 billion. FedEx controls about 31% of the U.S. package market, behind only UPS's 51% share.
UPS CFO Kurt Kuehn getting it right like his CEO, unlike clueless Fed heads Bernanke & Lacker "the downside risks to growth have diminished"...
this rubber meets the road CFO said there are "no signs of economic strengthening" clearly indicating that downside risks are not diminished.
The Nattering One muses... Who do you trust? Two paid liars that live in the fantasy laden "core"? (sans energy & fuel costs)
or a reality based person who knows where the rubber meets the road? The only things I see as diminished:
the mental capacity of the Fed heads; the Fed's credibility and its ability to deal with the situation at hand.
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