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Published:December 20th, 2008 12:15 EST
FedEx

FedEx Makes Cuts Despite Rise In Profits

By Robert Paul Reyes

The financial health of FedEx is a good barometer of our nation`s economy. It`s consumerism that drives our economy, and if FedEx is doing well that means that Americans are buying and shipping iPods, computers, furniture, toys, microwave ovens, etc.

FedEx

FedEx cut the pay of its salaried staff and cut workers` retirement compensation despite rise in profit. The giant shipping company is taking these steps despite healthy profits, because volume is down and economic experts predict a gloomy 2009.

When FedEx`s volume is down in the critical Christmas season, that`s not good for them and it`s not good us. When FedEx has a gloomy Christmas, it`s hard to catch the Christmas spirit. It`s going to be a "Bah Humbug" Christmas season for FedEx, Tiny Tim and the rest of us.

If it weren`t for the steep decline in fuel costs FedEx would be in bad shape. You don`t have to be an economic guru to discern that when the price of oil inevitably rises to stratospheric levels again, the fortunes of FedEx will drop like a stone.

My faithful readers can help FedEx and the economy by shipping a present to their favorite columnist via FedEx.