Tag: FedEx

FedEx again No. 1 on satisfaction index

Posted by | May 20, 2008 | |

FedEx Corp. announced Tuesday the company has been rated No. 1 in customer satisfaction in its industry and also first overall among about 130 companies rated by the University of Michigan’s American Customer Satisfaction Index.

The ACSI is the only national, cross-industry measure of the quality of U.S. economic output and scores companies based on customer expectations, quality, value and intention to re-purchase.

This quarter’s rankings place Memphis-based FedEx at the head of the express delivery industry, with a score of 85 out of 100. The industry average for 2008 is 82. The ACSI overall score is 75.2.

FedEx has been rated No. 1 in its industry for 11 consecutive years and for 13 of the last 14 years. During that time, FedEx also was rated among the top 25 companies overall when comparing scores from about 380 businesses reviewed by the ACSI.

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Deutsche Post seeks tie-up in U.S. for Express

Posted by | May 18, 2008 | |

Deutsche Post AG. is seeking to solve problems at its loss-making Express business in the United States by forming a cooperation with a partner in that country, with Fedex Corp and the U.S. Postal Service as likely candidates, Euro am Sonntag reported, citing sources.

It said Deutsche Post has ruled out United Parcel Service Inc as a potential partner.

If Deutsche Post does not find an appropriate partner, it would let its DHL Express unit operate key hubs in the United States and then work with regional-based companies to deliver the parcels, the report said.

Deutsche Post chief executive Frank Appel told the AGM on May 6 that a complete exit from the U.S. market is not an option for the company.

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FedEx Chief confident on US exports

Posted by | May 18, 2008 | |

Fred Smith, founder and Chief Executive of package-delivery pioneer FedEx, said growing demand from developing countries for high-technology and other valuable goods would assure continued growth in US exports even if the dollar’s slide reversed.

Economists from Goldman Sachs and Citigroup have predicted that the narrowing trade deficit could add one-half of a percentage point to the US’s gross domestic product in the first quarter.

While the dollar’s decline has helped make US goods more attractive to overseas businesses and consumers, it will not be the primary driver of a sustained growth in exports for high-value products, Mr Smith said.

The burgeoning wealth of emerging economies has spurred demand for many high-end goods made in the US, from network routers to artificial knees and hips.

The advent of electronic commerce has eliminated language barriers and other traditional impediments to international trade, he said.

FedEx warned investors this month that the run-up in fuel costs would leave the company short over its quarterly profit forecast.

While FedEx can pass price increases to customers by increasing its fuel surcharges, the higher fees do not kick in immediately. “We can’t pass it along fast enough to recover it,” said Mr Smith.

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Access to Trade in Latin America Can be achieved through Improved Infrastructure

Posted by | May 15, 2008 | |

Even though Latin America has recently enjoyed its highest economic growth rates since the late 1970s, economic strength and momentum in other regions—Asia, Europe—overshadows its progress. Latin America is not advancing as rapidly and will continue to fall behind if businesses and governments do not prioritize spending on infrastructure and address regulatory barriers.

In Latin America, poor transportation infrastructure and regulatory barriers undermine the region’s competitive strengths. Across most Latin American countries, less than one-third of the national road network is in good condition. The Organization for Economic Co-operation and Development (OECD) suggests that although proximity to the U.S. is a competitive advantage to Latin America, this edge is quickly eroded by an insufficient network of roads, ports, railways and airports. Insufficient infrastructure drives up transaction and transportation costs, and this impairs Latin American countries’ competitiveness with hot markets like China. To grow and compete aggressively with other markets, it is imperative that Latin America improve its infrastructure to lower transaction and transportation costs.

To compete successfully with rapidly growing economies in the global marketplace, key stakeholders from both the public and private sectors need to foster and develop partnerships to build stronger physical transportation networks. Businesses large and small must collaborate with government and non-profit organizations in new and innovative ways. Of the top 100 economies in the world, 51 are corporations and 49 are countries. Without a doubt, corporations, and governments play comparable roles to shaping the global economy.

While Latin American governments have recently increased investments in infrastructure development, we cannot rely solely on their efforts. In addition, businesses must forge partnerships with governments to establish procedures that facilitate trade and eliminate any unlawful practices. Efficiency in cross-border trade flows would significantly increase. Improved and increased transportation infrastructure across Latin American countries would create better cohesion and economic strength, allowing governments and organizations to work more closely together and give businesses the economic framework to grow and expand their market reach with more speed and frequency.

With so much promise for potential growth and progress, it would be a disappointment if Latin American businesses and governments can’t build the partnerships necessary for our commerce and citizens to thrive in the global marketplace.

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Economy and Internet challenge U.S. Postal Service

Posted by | May 14, 2008 | |

Despite a slowing economy and growing competition from the Internet, the U.S. Postal Service aims to break even in 2008 by increasing its package delivery business by about 10 percent, a top executive told Reuters on Wednesday.

The Postal Service will eventually be profitable, but that goal must be balanced against giving customers the best price possible, said Patrick Donahoe, the chief operating officer and deputy postmaster general.

This year, the Service expects about 10 percent growth in Priority Mail, Express Mail and related products that compete with Fedex Corp, United Parcel Service and other companies, Donahoe said. That group of products now makes up about one-tenth of the Service’s business, with First-class mail and periodicals accounting for the rest, he said.

To attract more business from small companies, the Service began offering price discounts to high-volume Express Mail shippers and commercial Priority Mail customers on Monday. The discounts were made possible by a 2006 law giving it more freedom to customize pricing of package delivery products.

As the Postal Service attempts to enhance its package business, the slumping economy has cut revenue below expectations.

With businesses sending less mail, the Service lost USD 707 million in its fiscal second quarter as mail and package volume fell 3.3 percent. During the first half of its fiscal year, the Service reported a net loss of USD 35 million while generating USD 39 billion in revenue.

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