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Stock Market & Financial Investment News

News Breaks
February 19, 2013
17:38 EDTFDXFedEx sees pretax cost of voluntary buyout program $550M-$650M
FedEx disclosing in an SEC filing that on February 15, FedEx offered voluntary cash buyouts to eligible U.S.-based employees. The offer period will expire in 4Q13. Costs of the benefits provided under the voluntary program will be recognized in the period that eligible employees accept their offers, predominantly in 4Q13. The company expects the pretax cost of the voluntary program to range from approximately $550M to $650M in pretax cash expenditures, but actual costs will depend on employee acceptance rates. Employees in the first phase will vacate their positions on May 31, and the company expects for all eligible and accepting employees to vacate their positions by the end of FY14. In addition, a limited number of officers and managing directors have accepted voluntary buyouts to adjust our leadership team to our new organizational structure. The cost of these buyouts is included in the range referred to above and will be recognized in 3Q13 when the offers were accepted.
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April 13, 2014
19:35 EDTFDXNTSB launches go-team to investigate bus and truck collision in California
In response to the bus crash involving a FedEx truck last week, the NTSB issued the following press release on its website on Friday: The National Transportation Safety Board has launched a go-team to investigate a crash involving a truck that crossed over the center median of Interstate 5 and collided with a motor coach in Orland, California. Highway Safety Investigator Robert Accetta will serve as the investigator-in-charge, leading a multi-disciplinary team of NTSB personnel. NTSB Board Member Mark Rosekind is accompanying the team and will serve as the principal spokesperson during the on-scene phase of the investigation. Reference Link
April 11, 2014
10:29 EDTFDXTen people die after FedEx truck crashes into bus, USA Today says
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April 9, 2014
07:36 EDTFDXCFA Society of Cleveland to hold a luncheon meeting
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