Despite Teamster’s stranglehold on UPS, FedEx has yet evaded their grasp.
Monday was the day of the highly anticipated vote by Fed-Ex shareholders. Should they keep the job of chairman and CEO the same, or separate them, as the Teamsters have so desperately wanted FedEx to do?
The answer: A sizable majority of shareholders said no, and FeEx Founder Fred Smith lives to fight another day.
But no floods or famines here. FedEx has seen 66.95% percent returns in the last ten years–enough to keep shareholders very happy. By contrast, Teamster’s ally UPS has suffered minus 5.5% percent returns since it went public in 1998.
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