FedEx on Tuesday cut its outlook for global growth and industrial production while slashing the forecast for company earnings. And CEO Fred Smith suggested trade has slowed to levels seen during the last two significant economic downturns.
h/t Don
FedEx on Tuesday cut its outlook for global growth and industrial production while slashing the forecast for company earnings. And CEO Fred Smith suggested trade has slowed to levels seen during the last two significant economic downturns.
h/t Don
Mama agrees . . .
http://maxedoutmama.blogspot.ca/
FedEx keeps making statements like that and the phone calls for parcel pickups at the White House will stop! Cannot see why they aren’t on the Obama bandwagon like so many others. The worse is overdon’t you know?
To most Demo’s the issue is all about priming the pump to jump start demand. Well $16 trillion later it stii needs more priming. Meanwhile back at the ranch the demographic gurus lean back and simply say that priming will have no long term effect. The dye is cast, the numbers do not add up, demand will not return.
In my area we have always had a steady traffic of relocating retirees to our valley. Today there are a hugh number of For Sale signs with nothing showing. My conclusion is that people still want to live here but cannot sell their houses in the large metro areas.
So just what is a “significant economic” downturn?
Inside scoop: FedEx is not the only company seeing this trend.
FedEx may have to merge with UPS, and name the new company FedUP.
I wish there was a couple more jobs reports, than the two that are coming, before the election. I suspect that if we saw January and February’s today, Obama would be toast beyond what the media could spin.
Private couriers are the ones you watch for how the economy is going. If Fedex and UPS are both showing earnings lower than expected it means that they’re both seeing a serious drop in shipping. DHL is in the same boat along with CANPAR. In for a bumpy ride take 3.