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iamnik77 (90.87)

December 2008



What is going on with FedEx?

December 18, 2008 – Comments (4)

My friend who works at a FedEx office just called me to give me the bad news. Many employees at FedEx will be taking paycuts along with a freeze on raises for at least one year. Fred Smith, the CEO, is taking a 20% cut, the people immediately below him are taking smaller pay cuts, and the lowest salaried employees are taking 5% pay cuts. My friend is the highest level non salaried employee so fortunately she won't be taking a pay cut but will not get a raise this year. Also, her company match in her 401k along with all other FedEx employees is being terminated for at least a year. All of this will go along with a large scale hiring freeze.  [more]



What to do with JP Morgan?

December 04, 2008 – Comments (2)

I just closed my JPM outperform pick. Interestingly, I have had an out perform on it for over a year and I am closing it as a winning pick with a 4 or 5 percent relative gain. What bear market in financials?  [more]

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