CARD CHECK is PAYBACK from Obama and liberal Congressional leaders to the UNIONS for their campaign support! What business will be killed next? Consider the contract clause between FedEx and Boeing.MemphisBusiness Journal: FedEx Corp. is dangling the possibility of canceling a multibillion-dollar order for airplanes should Congress help its workers unionize.
The Memphis-based carrier noted in its third-quarter filing with the Securities and Exchange Commission that in January it exercised its option to purchase 15 additional Boeing Corp. B777F aircraft with an option to purchase 15 more. The planes are valued at $256.5 million each, according to a Wall Street Journal report. Apparently that contract had some hefty clauses that were alluded to in the earnings report. [That is $3.847 Billion for the first 15 aircraft and another $3.847 Billion for the next 15 - a lot of jobs and employment opportunities.]
“Our obligation to purchase these additional aircraft is conditioned upon there being no event that causes FedEx Express or its employees not to be covered by the Railway Labor Act,” according to the filing. That clause is significant as Congress considers a bill that would change FedEx’s regulatory oversight from the Railway Labor Act to the more union-friendly National Labor Relations Board.
FedEx spokesman Maury Lane told the Wall Street Journal the clause makes perfect sense for a company of FedEx’s size and financial commitment. “It’s difficult to make large-scale capital investments like airplanes if you are unsure if you are going to be able to fully utilize them,” Lane was quoted as saying to WSJ. The B777F has a payload capacity of 103 tons and competes with Airbus’ A380F, which FedEx canceled an order for over the B777F in 2006. . . .
Tags: airplane, Boeing 757, Card Check, civil unions, Federal Express, FedEx To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
0 comments:
Post a Comment