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VOL. 133 | NO. 20 | Friday, January 26, 2018

FedEx to Invest $3.2B in Wages, Pension Fund, Hub Investments

By Patrick Lantrip

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FedEx Corp. has announced it will invest $3.2 billion to enact three new programs in the wake of the U.S. Tax Cuts and Jobs Act, the first being to increase employee compensation by more than $200 million, about two-thirds of which will go to hourly employees.

The remainder of that $200 million will go toward performance-based increases for salaried personnel.

FedEx will also add $1.5 billion to its pension fund, the Memphis-based shipping giant announced Friday, Jan. 26.

In the third program, FedEx said will invest $1.5 billion for a major overhaul of the FedEx Express hub in Indianapolis, Indiana, over the next seven years and will announce a major modernization and enlargement program for The Memphis SuperHub later this spring.

The company will make no changes to its fiscal 2018 earnings or capital expenditure guidance as issued on Dec. 19, 2017, as a result of these actions.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 52 374 8,123
MORTGAGES 52 433 9,632
FORECLOSURE NOTICES 22 103 1,461
BUILDING PERMITS 218 906 17,513
BANKRUPTCIES 45 252 5,658
BUSINESS LICENSES 0 143 3,091
UTILITY CONNECTIONS 24 152 3,402
MARRIAGE LICENSES 38 158 1,846

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