This week, Fedex reported quarterly earnings that, to put it mildly, were nothing to write home about.
CEO Fred Smith, explaining the what’s and the whys, pretty much echoed what has been our messaging herein since late-summer:
“…it’s really a tale of two economies, and the stock market, of course, is very bullish, but the industrial economy does not reflect any growth at all, worldwide, to speak of.”
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