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Behind the disappointing FedEx (FDX) guidance is higher pension expense of $150M, thanks to...

  • Tuesday, June 19, 2012, 8:09 AM ET
    Behind the disappointing FedEx (FDX) guidance is higher pension expense of $150M, thanks to barely visible interest rates. Expect this to be a recurring theme across corporate America. What the Fed gives with ZIRP it takes away in other forms. (life insurance firms pulling back) (FedEx earnings)
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    If we've learned any lessons from two centuries of Marxist experimenting and its paternalism it's this: 1) It's a mistake to make government your daddy. 2) Employees should be paid wages, not "perks" in the form of "free" healthcare, old-age pensions or subsidized uniforms. The "perks" were a reaction by business to wage and price controls by "daddy."
    19 Jun 2012, 09:10 AM Reply Like
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