Fifteen years ago today, my wife and I were married on a hot and humid day in Simsbury, CT. There’s a song that immediately brings us back to that day: “Only Wanna Be With You” by Hootie and the Blowfish, which the band played as we danced our way into the reception room as Mr. and Mrs. for the first time. There aren’t many moments in time I would go back to, but being back on that dance floor, with family and friends circled around us, back to where this wonderful journey all started, is certainly one of them.
Having my own business, I rarely take a day off these days, but I am today. I’m hitting the pause button on everything work-related, shutting my computer and phone off, and spending this hot and humid Friday with the only person I want to be with today.
(And besides, as you can see below, it was a relatively quiet week in logistics).
Have a great weekend!
- FedEx Corp. Reports Fourth Quarter Earnings
- Ryder Revises Earnings Outlook
- Oracle Reports Q4 GAAP EPS Up 11% to 69 Cents; Q4 Non-GAAP EPS Up 10% to 82 Cents
- Kewill Announces Next Generation of Industry Leading Screening Technology
- U.S. Seaports, Private-Sector Partners Plan to Invest $46 Billion By 2017 in Port Infrastructure
- U.S. Transportation Secretary LaHood Announces Assistance for Veterans Seeking Jobs in Transportation
- FedEx CEO Predicts Industry Shift (Wall Street Journal)
- Oil Plunges 4% in Commodities Rout (Wall Street Journal)
Notable quotes and excerpts:
FedEx profit declined 1.4 percent in Q4FY12, mostly due to an impairment charge the company recorded in the quarter from retiring from service 18 Airbus A310-200 aircraft and 26 related engines, as well as six Boeing MD10-10 aircraft and 17 related engines. “FedEx Corp. Chief Executive Fred Smith predicted fundamental changes in the global freight business,” the Wall Street Journal reported, “with air carriers facing more competition from ships and the industry putting more focus on providing clients with customized, door-to-door delivery options. The FedEx founder…cautioned that the traditional airport-to-airport business ‘is not growing.’”
Oracle President and CFO Safra Catz, on the company’s fiscal Q4 results: “Our record-breaking fourth quarter featured several all-time highs for Oracle: new software license sales of $4 billion, total software revenue of $8 billion, total revenue of $11 billion, and EPS of 82 cents. For the fiscal year, we also set all-time highs for operating margins of 46%, and operating cash flow of $13.7 billion.”
Kewill announced version 2.1.4 of Kewill Customs, a customs clearance solution that automates Customs Entry processing. According to the press release, “The new version includes the integration of Kewill Imaging, functionality that provides customers the ability to view images of documents associated with the specific shipments being processed – significantly improving time spent processing shipments.”
The question today isn’t how high can oil prices go, but how low. According to a WSJ article published yesterday, “Oil prices plunged 4% to below $80, part of a broad selloff in commodities, sending an alarming signal about the health of the global economy….The retreat came as U.S. and global oil inventories remain well-supplied in the face of sluggish demand. Analysts also pointed to a report released Thursday by the Federal Reserve Bank of Philadelphia that showed a big drop in general business activity within the factory sector, tumbling to -16.6 in June from -5.8 in May…Also weighing on prices was a preliminary gauge of China’s manufacturing activity that showed more weakness in June and appeared to build a case for fresh stimulus measures to spur growth in the world’s second-biggest economy.”