Labor Issues Key in FedEx-AF Deal
Investment analysts who cover trucking say labor relations issues with the Teamsters union were a significant factor in the FedEx (FDX) deal to buy American Freightways (AFWY) and operate it with Viking Freight as a nationwide less-than-truckload carrier.
“We knew they were shopping [for a nonunion carrier],” Caldwell said from national headquarters in Washington, D.C.
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Although the LTL sector is the most heavily unionized part of trucking, FedEx of Memphis, Tenn., has spent its $1.2 billion carefully, and is now on the verge of creating a national, non-union carrier.
“This came as no surprise to us,” Teamsters spokesman Bret Caldwell said. “FedEx is vehemently anti-union. We had heard rumors for several days before the sale was announced.
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