what was distorted and factually incorrect? All I read is a CEO deflecting....Statement from Frederick W. Smith, Chairman and CEO of FedEx Corporation
November 17, 2019
The New York Times published a distorted and factually incorrect story on the front page of the Sunday, November 17 edition concerning FedEx and our billions of dollars of tax payments and billions of dollars of investments in the U.S. economy. Pertinent to this outrageous distortion of the truth is the fact that unlike FedEx, the New York Times paid zero federal income tax in 2017 on earnings of $111 million, and only $30 million in 2018 – 18% of their pretax book income. Also in 2018 the New York Times cut their capital investments nearly in half to $57 million, which equates to a rounding error when compared to the $6 billion of capital that FedEx invested in the U.S. economy during that same year.
I hereby challenge A.G. Sulzberger, publisher of the New York Times and the business section editor to a public debate in Washington, DC with me and the FedEx corporate vice president of tax. The focus of the debate should be federal tax policy and the relative societal benefits of business investments and the enormous intended benefits to the United States economy, especially lower and middle class wage earners.
I look forward to promptly hearing from Mr. Sulzberger and scheduling this open event to bring further public awareness of the facts related to these important issues.
This should be really interesting although he should challenge the authors instead of the publisher.
Actually, his reference to the employee stock plan is interesting. They usually don't admit that and is one of the big people games that has been accelerating in recent years. Too big to fail, part 3. Evil. But smart. The beautiful people do understand the game.How FedEx Cut Its Tax Bill to $0
The company, like much of corporate America, has not made good on its promised investment surge from President Trump’s 2017 tax cuts.
If we just let our Best Citizens have a little bit more, for another 40 years, they will get around to creating those good paying jobs. Stay the course.
The Best Americans use their media bullshit machine to keep the masses hating each other. Divide and conquer.I think they been foolin' us dumb Plebians, Peasants and pawns, It's really a "trickle up' economy, they just pulled the wool over our eyes, and most of the GOOD Americans swallowed it hook, line and sinker. We got the Guvmint we deserved, because in general, we are too dumb, fat, lazy and prejudiced to pay attention with a critical eye, and critical judgement....
See the America and UK self-destruction threadI think they been foolin' us dumb Plebians, Peasants and pawns, It's really a "trickle up' economy, they just pulled the wool over our eyes, and most of the GOOD Americans swallowed it hook, line and sinker. We got the Guvmint we deserved, because in general, we are too dumb, fat, lazy and prejudiced to pay attention with a critical eye, and critical judgement....