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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.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 91 135 781
MORTGAGES 110 170 916
FORECLOSURE NOTICES 30 43 178
BUILDING PERMITS 133 290 1,948
BANKRUPTCIES 58 105 507
BUSINESS LICENSES 37 88 388
UTILITY CONNECTIONS 22 55 235
MARRIAGE LICENSES 12 24 105