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FedEx CEO Fred Smith said at the recent Energy Security Leadership Council conference that FedEx does not hedge its energy buying, but incorporates energy prices into the rates it sets on customers. The last three or four years, that has meant raising rates, he said.

“We don’t hedge. We don’t try to beat the market,” Smith said. “We simply pass it along.”

Smith also said FedEx’s staff economist projects a 2.7% GDP for 2007 and 2.9% GDP for 2008. “There’s definitely not as robust an economy this year as there was last year,” Smith said.

FedEx Express introduced four hybrid electric medium-duty trucks into service in the Denver metropolitan area. Sen. Ken Salazar (D-Colo.) joined FedEx to unveil the vehicles at a press conference at a FedEx Express facility in downtown Denver.

Salazar, a member of the Senate Energy and Natural Resources Committee, is a leading voice in the U. S. Senate calling for alternative energy solutions to reduce dependence on foreign oil, enhance national security, protect land and water resources, and create new jobs throughout America.

The FedEx Express hybrid, developed in cooperation with Environmental Defense and Eaton Corp., will deliver cleaner and healthier air and reduce climate change impacts.

The introduction of the FedEx Express hybrid vehicles is part of an innovative alliance that began in 2000 between FedEx and Environmental Defense to create the next generation of cleaner, more fuel-efficient delivery trucks. FedEx became the first company to begin converting its medium duty truck fleet to hybrid vehicles for commercial use.

Including Denver, FedEx operates a total 93 hybrid vehicles in cities such as New York, Tampa, Sacramento and Washington, D.C.

As part of its nationwide expansion plan, FedEx Ground has opened an automated distribution center in Pompano Beach, Fla.

FedEx said the 215,377-square-foot center will add more than 200 new jobs. Located 10 miles north of Fort Lauderdale, Fla., the facility is triple the size of the two company operations in Fort Lauderdale and Pompano Beach that it replaces.

The center has advanced package-sorting systems that can process 12,000 packages an hour.

Moon Township, Pa.-based FedEx Ground is the small-package ground delivery unit of Memphis-based FedEx Corp. Its growth plan, under way since September 2002, includes 10 new hubs, the expansion of 30 existing hubs and the relocation or expansion of more than 300 additional pick-up and delivery terminals.

In Florida, FedEx Ground has operations in Boynton Beach, Miami and West Palm, with a total work force of 1,000 employees and independent contractors.

FedEx Ground recently opened a 303,000-square-foot package-sorting facility in Olive Branch, Miss. The automated terminal employs 300 and complements the hub FedEx Ground operates in Memphis, which employs 900. The Olive Branch terminal can process up to 15,000 packages per hour.