FedEx Corporation

Founded in 1973, FedEx Corporation is a logistics, transportation, and related information Service Company that is based out of the United States. The company’s goal is to provide the highest quality service to its customers, in a manner appropriate to each market segment served. In 2009 FedEx Corporation Consolidated revenue was reported as $35,497,000,000, indicating a 6% decrease from 2008’s 10-K report. The Consolidated Net Income in 2009 was set at $98,000,000. In 2008 it was listed as $1,125,000,000, a 91% decrease. The company believes that the worsened global economic conditions of 2009, was a major contributor to FedEx Corporation’s lower revenue and earnings. Their results are said to reflect a decrease of demand for most of their offered services, particularly the FedEx Express and FedEx Freight branches.

As a response to weak business conditions, FedEx reduced salaries for their U.S. employees, eliminated a variety of compensation payouts, and reduced labor hours and line-haul expenses. The company, as a result, has exercised strict control over discretionary spending: travel and entertainment and professional fees. Further, FedEx has made adjustments to their routes and equipment types that coincide with current demand levels.

Frederick W. Smith, Chairman, President and Chief Executive Officer (Principle Executive Officer), received $8,479,584 in 2009, a 22% decrease from 2008, and a 50% decrease from 2007. Executive Vice President and Chief Financial Officer (Principle Financial Officer), Alan B. Graf Jr. in 2009 received $3,843,005. His total income has decreased 13% since 2008, and 42.6% since 2009.

Sources:
10-K
PROXY STATEMENT

APPLE INC.

Apple Inc., today, regards itself as the leading competitor in the electronic industry with their award-winning computers, OS X operating system and iLife and believes that they spearheading the professional applications, including the digital media revolution with its iPod, iTunes online store, and recently, the iPhone. In their annual 10-K report, their 2009 annual Net Sales was $42,905,000,000, a 14% increase from 2008’s $37,491,000,000 report. 2009’s Net Income indicated a 25.6% increase from $6,119,000,000 to $8,235,000,000. The total revenue as of March 27, 2010 Apple Inc.’s Net Sales is documented as $29,182,000,000 in their Condensed Consolidated Statements of Operations Quarterly Report. Apple’s 2009 report was at 20,964,000,000 indicating a 39% increase. Their Net Income as of March 2010 is $6,452,000,000 compared to March 2009’s $3,875,000,000. The rather significant increase was the result of higher sales of iPhones, Mac Computers, iPods, and other music related products. Apple Inc’s Chief Executive Officer, Steven P. Jobs, receives $1,000,000,000 as his annual salary. The document reports Chief Operating Officer, Timothy D. Cook’s yearly income as $14,001,040. Mr. Job’s salary has remained $1,000,000,000 since 2007; Mr. Cook’s has increased 88.6% within the past year.

Sources:

10-K REPORT
10-Q REPORT
PROXY STATEMENT

For Purpose or Power

This past Thursday, better known as Earth Day, my roommate and I went to see Oceans, the new nature documentary from DisneyNature. Last Earth Day the released, the documentary Earth, which depicts various wild habitats and animals across the globe. The film is themed around anthropogenic environmental change and uses the polar bear, the humpback whale, and the African elephant to illustrate the threats to Earth’s wildlife. Both movies in my opinion were lovely – especially since I’ve lately been completely obsessed with nature documentaries.

I first heard about Oceans, interesting enough, through previews featured before the film Earth. What is so strange is that besides that preview that I saw over a year ago, I have heard nothing about Oceans, while I remember there being a significant amount of promotion for the film Earth. For a film that is supposed to send this extremely positive message about making life decisions to reduce individual carbon footprints, Disney took little steps in making the public aware – or at least to my knowledge. In addition to this, the previews before Oceans, featured a documentary called African Cats, the third film produced by DisneyNature, which like the previous films will be released on Earth Day.

As soon as I saw the film, while of course I was tremendously excited, I had a strange feeling that Disney is once again trying to use its power to manipulate. The environment is an incredibly popular topic. For example the Discovery Channel just released an 11-part series called Life, which explored different habitats and animals. But the Discovery Channel has always been doing something along those lines. Only within recent years, the years that people have had concern for the environment, has Disney decided to make movies focusing on the daily threat to these beautiful creatures. What is one supposed to think? I’ll leave that one up to you..

You can watch the teaser trailer for African Cats by clicking here

Fashion's Night Out!

While September seems like forever away, I recently read an article, which made me incredibly excited for the autumn month. Fashion’s Night Out is an organization that was created last year to promote the fashion industry. For one night last September, designers, celebrities, models, and fashion editors arranged special after hour events at stores located throughout New York City, and twelve other cities around the world. In New York alone, over 800 stores participated throughout the five boroughs, creating a fabulous event for shoppers. This coming September, FNO plans to support the industry even further by hosting the largest fashion show in New York history: featuring over 200 top models wearing the season’s most desired clothing. The event is scheduled for September 7^th, and will be held at Lincoln Center, Fashion Week’s new home; tickets will be going on sale this summer. In an article by NYDailyNews.com Anna Wintour, the current editor for Vogue, commented on the event saying, “We felt it is important for people to see what wonderful fashion will be in stores at that moment… this show will focus on the key trends we've identified for Fall so that shoppers will have plenty of inspiration to join the fun during Fashion's Night Out.” Oh Anna!

While it is extremely unlikely that I will be attending the obviously ridiculously priced show, it is exciting to see the city’s reaction to NYC Fashion Week’s big move to Lincoln Center – after 15 years at Bryant Park, located on 5^th avenue between 40^th and 42^nd street, the park will no longer host the event. I myself was lucky enough to attend a show this past March right before the move occurred. I can only hope that my luck will continue this coming September and I will be able to experience another fashion show first hand, for it’s first year at Lincoln Center. Either way, it will be exciting to see the designers fall collection, after all autumn is probably my favorite season.

The Future of Education

On March 30^th, nine days after the bill had passed, the Student Aid and Fiscal Responsibility Act was signed into law as part of the Health Care and Reconciliation Act, after a total of 56 votes compared to 43 approved the new legislation. According to Mark Kantrowitz of FinAid.org, over the next ten years the legislation is said to provide increased Pell Grants to students, which will now be provided by the United States government.

Over the next ten years, the student loan legislation will add $36 Billion dollars to the annual Pell Grant scholarship. Beginning in July of this year, the Pell Grant will be increased to $5,550 dollars and by the year 2017, will have gone up to $5,975 dollars; it will also provide 820,000 additional grants by 2020.

Essentially, the government will now be the direct lender of all federal student loans issued starting July 2010. According to the Congressional Budget office, the change will save taxpayers $61 Billion dollars over the course of the next decade and reduce the U.S deficit by a minimum of $10 Billion dollars. John Matulovich, an Access Group representative, believes that loans through the U.S Department of Education is a good change: “because they will offer certain loan forgiveness programs that other lenders do not as well.” Yet what exactly is to be said regarding the effect on both new students, and students currently enrolled in a higher education institution who already have been issued loans?

According to a statement made by the White House: for the students who have assumed loans after July 1^st, 2010, will now be able to “cap their student loan repayments at 10 percent of their discretionary income,” meaning the amount of income available remaining after the basic essentials have been purchased: food, clothing, shelter, and utilities. The statement goes on to say, that students who are persistent in their payments will have the remaining balanced forgiven after twenty years. Bill Mack, a financial expert, says that for the students who have acquired loans prior to July 1^st, “will now borrow under the same terms, from Direct Lending.” Furthermore, these students, once graduated, will now be able to consolidate their loans into one single program. According to Marc Kantrowitz, most benefits will entertain future students. “The main benefit, Kantrowitz says, “is [the government] mandating that all colleges be in a direct loan program.” This means that any student previously in the FFCF program in new or past loans, will also obtain lower interest rates. “But beyond that,” Kantrowitz continues, “it’s pretty much everything.” Bill Mack agrees that the impact the program will have on students will be minimal.

The legislation also is intended to distribute $2 Billion dollars towards a grant program for community colleges that will develop and improve their educational and career training programs. $2.25 Billion additional dollars will go towards Historically Black Colleges and Universities, including Minority-Serving Institutions. Furthermore, the government plans to pledge $750 Million dollars to fund programs intended on increasing financial understanding, and $1.5 Billion dollars towards federal loans.

Orrin Hatch, a spokeswoman for the Republican Senator Antonia—Ferrier of Utah, said that the bill was “completely inappropriate, [as Democrats] used takeover of the student loan bill to pay for the health care.” Many Republicans throughout the country agree with the Senator, disagreeing with government control over health care, therefore disapproving with the included educational reform. A spokesman from, Senator Olympia Snowe’s office in Maine, said, “The biggest reason for [Snowe’s] support for or against the student loan bill was more about health care…we opposed the student loan bill because it was put in with the health care bill.”

Democrats, however, with the exception of thirty-four votes against, felt very strongly about the bill. Jeanne Shaheen, Senator from New Hampshire voted for the student loan bill in the belief that it will help middle and lower class students who, while deserving of loans, were unable to afford them due to their initial and surrounding costs. Shaheen, formally a teacher, trusts that the bill will provide a guaranteed loan to suffering students as opposed to leaving it simply to chance.

Kathryn Solow, a sophomore at the School of Visual Arts in New York City and once a solid supporter of Obama, is now questioning the recently approved legislation. “While I might have several grievances regarding the health care bill, overall I am very happy that I will be guaranteed health insurance when I am older. Regardless, my main focus right now is on paying for college. I can only hope that whatever changes that are soon to occur will help ease my ongoing concern.”

Coachella 2010

I had been standing for hours. My feet were terribly sore and I could feel my legs shake as I stretched the backs of my knees. My two friends and I waited as MGMT finished their set. None of us really wanted to watch MGMT’s performance but we were determined to get an incredible spot for Jack White’s latest project, The Dead Weather, which was right after. The band closed with Brian Eno, very unexpected as it would seem most were waiting to hear their best known song “Kids,” featured on their 2008 album Oracular Spectacular. I was actually pleasantly surprised, as I’ve often felt their popularity has rested on that one song. As the last chords of Brian Eno played and as the crowds began to dispense, we pushed our way to the front. Our determination proved successful as we made it to the barricade, besides photographers there would be no one in front of us. For about an hour and a half we waited, pressed up against the metal fence, waiting for non other than Mr. Jack White and co. The Dead Weather entered the stage all dressed completely in black, opening with “Forever My Queen.” I had seen The Dead Weather before when I went to the MTV Woodie Awards in the fall of 2009. Needless to say the crowd at Coachella was much more into their dark sounds. Song after song, Allison Mosshart from the Kills, screamed and shouted, it was incredible. It was at this point where it finally occurred to me that I was at Coachella. The sounds from the stage, the smells hitting me from every direction, a cool desert breeze sweeping across the crowd. I never wanted to leave.

I had left for California Thursday night. I arrived at a reasonable hour but out of complete exhaustion I passed out soon after my friend picked me up from the airport. I’ll blame it on the time difference. We had planned to leave at around 8:30 AM so that we could get there just as the gates opened. Turns out we didn’t end up waking up till 8:30 AM and actually didn’t leave till 10:00 AM. I was a little concerned that we would miss some opening bands but after looking at the line up I was relieved that we would make it in time for those I wanted to see. We made a quick stop to the hotel where we were staying and dropped off our bags. Quickly, we headed to the venue, found a parking space, and walked for what seemed like several miles in the desert sun to the opening of Coachella.

DAY ONE

After walking quite a distance and waiting in line for almost an hour, we made it into the venue. At this point it was around 3:30 and we decided to go see Sleigh Bells in the Gobi tent. At Coachella there are a total of two stages: the Coachella Stage, the Outdoor Theater, and then three tents each named for a different desert: the Gobi, Mojave, and the Sahara. Very Clever. While this was my first Coachella experience, Concerts and Music Festivals are nothing new. I have been to Bonnaroo for the past two years, and have an extensive background when it comes to concert experience. After a few songs from Sleigh Bells, we all decided that we had had enough. We moved to the Mojave tent to see Yeasayer, but there was such an obscene amount of people that we could hardly get into the tent. To kill some time we ran back to the Gobi tent and watched some of Hockey’s set. I had heard of the band before but hadn’t heard enough to decide how I felt about them. After watching their performance I decided that they were fun to listen to live, but didn’t know if I would listen to them otherwise. I caught a little bit of Ra Ra Riot before heading over to the Outdoor Theater to watch She & Him, Zooey Deschanel’s band. I think that she is absolutely adorable. I love her vintage style and just think she is so classy. Her set was fun and happy. The rest of the night was filled with Grizzly Bear, La Roux, Little Dragon, Little Dragon, and Vampire Weekend. At around 10:30 PM we headed over to Fever Ray. Fever Ray is the project of Karin Dreijer Andersson. Her and her brother, Olof Dreijer, are memberes of the duo The Knife. I saw Fever Ray around the first few months of school. My roommate introduced me to them after she found out that I loved The Knife. The show I saw was one of the most incredible I have ever seen. I told the two girls I was with that we could not miss Fever Ray. After most of the set I decided to split up with the people I was with because I wanted to catch the rest of Jay-Z’s set. I made my way out of the tightly packed crowd and headed towards the Coachella Stage. I got as close as I possibly could, which still wasn’t that close and watched as Jay Z made the crowd go crazy, with over 30 songs. The stage was decorated with a New York City Skyline, clearly mimicking his hit “Empire State of Mind.” After performing a large number of songs, Beyonce came out and sang Forever Young. I think they are the most adorable couple. It was just a really incredible show to see! Before he finished, I ran to our meeting spot, hoping that the others had done the same. I didn’t want to have to wait a long time to get out of the venue. Unfortunately, I was the only one who thought that it was a good idea. By the time we had gotten everyone together it was already 1 AM. We didn’t end up getting back to the hotel until 4 AM.

DAY TWO

We all got up around 12 PM. Our legs were already incredibly sore and regardless of how much sleep we had gotten, we were all still very exhausted. We took our time getting ready, and headed to a restaurant within our hotel to grab some lunch. After finishing up a huge meal that was guaranteed to get me through at least five hours in the hot sun, we headed back to the venue. We got there just in time to catch a bit of Girls. Our next stop was to the Gobi tent to watch some of Beach House., followed by a quick stop to the outdoor tent to catch a bit of The Temper Trap and Edward Sharpe and the Magnetic Zeros. By this time it was almost 6:00 PM. We ran over to the Mojave tent, and while The Gossip were still on their set, we wanted a good spot for the Dirty Projectors so we decided to go early. I had listened to the Gossip before but I had only heard a couple of songs. However, the music and their performance blew me away. Beth Ditto, the lead singer of the group, is a big girl, yet her confidence is unbreakable. She sang her heart out on stage and myself as well as the crowd loved her for it. By the time the Dirty Projectors came on, I was in complete bliss. The sun had gone down and it was finally cool; everything was perfect. The rest of the night was filled with me rushing around. I saw a bit of Hot Chip, the entire set of MGMT, the Dead Weather (of course), Die Antwoord, Devo, and Sia. Almost too much music for one night! By the time we had finally gotten into the car I was unsure of how I would be able to handle another full day of the hot sun and standing. I told myself that the music was worth it.

DAY THREE

Thankfully we woke up much earlier than we did the previous day. We were fed and in the car by 11:30 and on our way to the venue. After being dropped off – two of the four people I was with wanted to go back to the hotel to shower – I walked around Coachella as I had some time to kill and I still hadn’t experienced everything it had to offer. I wandered around the DJ stages, and into some of the tents the sponsors had set up. At around 1 PM I walked over to the Mojave tent to watch the band Soft Pack perform. After about half of their set I ran over to the Gobi stage to see Local Natives. I had only recently started listening to their music so it was really fun to see them perform live. After they had finished I went and got some food – vegan falafel, which was absolutely delicious – and sat down and watched Rusko. Rusko is a DJ so technically I shouldn’t have been sitting but after I finished my lunch I made my way into the crowd. It was very obvious from the crowds dancing that everyone was having a great time. After the set I went over to the Gobi tent. It was about 4 PM and Florence and the Machine were to go on at 4:30. Like most of the artists I really wanted to see, I was able to get right to the front. I like to consider myself a very determined person. Like the first two days, I was running around a lot. After Florence, I watched a bit of Julian Casablanca’s set – he is also the lead singer of The Strokes, so what’s not to love. I also saw some of Jonsi’s set and the end of Spoon’s. At around 7:30 PM I went to the Gobi tent to see Sly Stone. For whatever reason, there was a huge mix up and Sly’s performance was moved back. I didn’t really have time to wait so I left. While I regret not seeing him, he didn’t end up going on till sometime around 11 PM. If I had waited I would have missed two outstanding performances: Thom Yorke and the Gorilaz. Thom Yorke, as I hope most know, is the lead singer of the band Radiohead. If you haven’t heard of Radiohead I don’t know where you have been and if you don’t like them, than I suggest you start listening to better music. Anyway, Thom and his band Atoms for Peace create the most beautiful music. Song after song, was filled with tremendous passion. At this point I had met up with one of my good friends Andrea, who also attends Eugene Lang. While we both are big fans of Yorke by 9:30 we agreed that we would leave the set early to secure a spot at the Gorilaz. The Gorilaz not only have not played in five years but they were the closing band so all 80,000 Coachella attendees would likely be there. Running over to the Coachella Stage, we snuck in through the side, pushing through many people, and thankfully getting a good spot, relatively close to the stage. When the Gorilaz finally came on I was mesmerized. I have a lot of respect for them. While part of my reasoning may be due to the fact that they are my brother’s favorite band, it also has to do with their overall musical brilliance. The band was created in 1999, when the concept of a virtual band had not yet been thought of. Their past performances included incredible graphics and holograms, making their true identities questionable. The music style itself is a mixture between pop, hip-hop, electronic, and alternative-rock. To me this says that they see the importance of all types of music and collaborate in a way, which incorporates many genres. I think they are just very talented musicians. So as imagined their performance was absolutely fabulous. They performed in front of a screen that flashed images of their unique animation. Their set also featured a number of guest performances, only adding to the talent they executed on stage. Andrea and I danced and sang. Our legs felt as if they were about to collapse but it didn’t matter: this was Coachella. By the time they finished I was ready to go back to the hotel. It had been a very long day and I was in desperate need of sleep.

My friends and I ended up driving back that night because we all had flights either in the early morning or early afternoon. By the time we arrived at my friend’s house, near Los Angeles, I collapsed – sleep was very necessary. The next morning, my friend drove me to the airport and I was officially on my way back to New York. Looking back on the weekend it’s difficult to fully grasp the amount of talent I witnessed within three short days. Festivals like Coachella are what I live for. It’s an extreme rush; it’s a beautiful experience. Music has always been essential to who I am as a person, and going to concerts and music festivals is only an extension of that. Coachella was an amazing experience, something I hope to have the privilege to experience again. As far as festivals go, my hope is to attend Lollapalooza this summer in Chicago, but we will see.

all good things must come to an end

Recently Sex and the City 2 has just come out with its newest trailer. For any SATC fan this news is something that draws interest, however, I personally am unfazed and rather upset by its release. Back before Sex and the City 2 and even before Sex and the City: The Movie, there was simply Sex and the City. For six seasons, HBO produced a fabulous show about love, friendship, and of course the city herself. My obsession with SATC began at a young age yet for whatever reason the show spoke to me. Carrie, Samantha, Charlotte, and Miranda were all fabulous characters who lived in the most fabulous city of all. By season three I knew that New York City was the only place I would ever want to live.

When I saw the preview for the first movie, I like most dedicated fans, was thrilled, as I was eager to see a continuation of the Carrie-Big relationship we finally saw become “serious” during the season six finale. Months later, after finally seeing the movie, I would learn that my excitement was trivial as the movie was a complete disaster. I vividly remember walking out of the theater trying to produce a reason to why the movie was so, to put it simply, bad. What I finally concluded was that there was no reason to create an extension to the show. Sex and the City, while ending on a somewhat dramatic note, for its audience did come to a comforting close. After really thinking about it, I felt I really didn’t need to know anything more than what they had already told me. While the idea of a Sex and the City movie was compelling, truthfully I was completely content without it.

Now that they are making a sequel, I can’t help but think that what was once my favorite television show has transformed into a money making franchise. When does it finally end? The essence of Sex and the City is being destroyed by producers convinced there is still money to be earned through its name. What is even more disgusting is that they are right. The terrible truth of it is that there is no doubt in my mind that I will see the movie, especially because it features Aiden, my favorite boyfriend of Carries. So maybe I’m contributing to the eventual destruction of what SATC once was. I wish I had the ability to overcome its hold on me. All I can wish for is that there will not be a Sex and the City 3 to viciously tempt me. I suppose only time will tell.

who is the tallest man on earth?

One of my favorite things about being a student at the New School is I am constantly surrounded by people with a very good taste in music. One of my good friends recently introduced me to a folk artist known as The Tallest Man on Earth. Since I first heard his song “The Gardener” earlier this week, Swede Kristian Matsson aka The Tallest Man on Earth, is all I have been listening to. While his sound is very similar to Bob Dylan, the comparison in my opinion is irrelevant, as he has developed his own particular sound that is extremely captivating.

His 2008 album, Shallow Grave, earned fabulous reviews from publications such as the independent music guide, pitchfork.com, establishing a name for himself as a talented musician and songwriter. Featuring a total of eleven songs, Shallow Grave features soft folky acoustic guitar sounds and profound and poetic lyrics. Combined with Matsson’s raspy voice, his songs, in two words, are beautifully haunting.

My favorite song happens to be the one I was initially introduced to, The Gardener. Matsson’s imagery created by his lyrics is remarkable – I often found myself wishing someone would write a song for me that was just as beautiful. The Gardener, as well as all of the songs featured on Shallow Grave, needs multiple listens before Matsson’s obscure imagery can be broken down – but truthfully I did not mind having the album on repeat for the past week.

Matsson will be releasing his second album, The Wild Hunt, on April 16. And on April 20^th, he will be performing at the Highline Ballroom, located in New York City. This is a show I would very much like to see.

To watch a performance of several songs, including The Gardener, please click here.

Going Gray

I recently read an article in the style section of the New York Times reporting that the most recent trend is, strangely enough, gray hair! As a member of the platinum/gray blonde community I was a little disappointed that people are just realizing the wonders of the look. However, I find a lot of irony in the trend. There are thousands upon thousands of woman, and men for that matter, who spend hundreds of dollars a month to cover up their gray hairs. Compelling to say the least.

The trend, based on the New York Times article originated from the runways by designers such as Chanel and Proenza Schouler. Their unusual direction seemed to have caught on, as throughout the year we have seen it appear in a number of celebrities, including model Kate Moss, who flaunted a gray streak at a fashion party earlier in the year. Faran Krentcil, a digital director at the fashion magazine Nylon, accidentally joined the mainstream, when she screwed up after attempting to dye her hair. Originally aiming for a lavender tint, a few days passed and the dye job had faded into a grayish tone.

For the past two years my hair has been an arrangement of platinum. Going from a whiter tone, blonder tone, and similar to the trend, a steel gray tone. Still, even after two years, I am very happy with my hair. I find that it’s a bold statement and perhaps until now, not something you would see very often. My only complaint about it, other than the damage it causes from the bleach, is the cost. As an unemployed college student I have to make a lot of sacrifices in regards to the amount of cash I spend within the month. I receive a monthly allowance and give myself a certain amount that I am allowed to spend weekly on food (most importantly) and weekend money for going out. However, by the end of the month, I must still cough up $100 dollars, not including tip, to pay for a touch up. Many times I have considered doing this myself, until the thought of orange hair or a baldhead (if done in the wrong way the bleach will literally make your hair fall out), makes the price completely justified.

But what about the gray? To be honest, after looking through photos of woman who have gone the more extreme route to a prominent gray, I have to admit I really like it. I don’t think it’s a trend everyone can handle; gray on a young person is not exactly normal – I don’t even know if I could pull it off, although, one hopes that I could. But it is fabulous. What is even more ironic about the whole situation, for me personally, is that recently I have considered dying my hair black, to not only combat the monthly costs but to experience something new. The fact that the trend has gone more mainstream, especially amongst notable people within the fashion community, makes it that more difficult to convince myself to change it. Maybe I’ll just have to dye it once the trend simmers down, or maybe I should just start a new trend and go for the black.