A driver unloads his truck at the FedEx sort facility at the Oakland International Airport (Photo by Justin Sullivan/Getty Images)
This week includes what FedEx expects to be its busiest shipping day of the year, as well as the final act of this year’s spending bill melodrama, as President Obama puts his signature on a $1.1 trillion discretionary spending bill which includes a few plums for mass transit and the U.S. travel industry.
FedEx predicts that today will be its busiest shipping day of the year, estimating that its workers, trucks, and aircraft will carry 22.6 million shipments around the world.
FedEx rival UPS said in October that it expected its 2014 peak delivery day to be a week from today, on Monday, Dec. 22, when it expects to ship more than 34 million packages.
The Senate may vote on a House-passed bill to retroactively extend some 50 tax preferences.
The package includes a few provisions benefiting biodiesel and other biofuel producers and one which would restore tax break parity between mass transit commuters and drivers who get employer-subsidized parking.
Mass transit advocates say the retroactive parity, which applies only to 2014, will benefit almost no mass transit users, because employer payroll systems aren’t set up to recoup the money that commuters could have gotten if tax break parity had been in effect starting Jan 1, 2014.
FedEx reports its earnings for the second quarter of its fiscal year which began June 1.
Like the passenger airlines, FedEx should be benefiting from the drop in jet fuel and diesel fuel costs, and company executives can offer more details on that point in their conference call for investors Wednesday morning.
After languishing in the first half of the year, FedEx’s stock price is up 25 percent since June, which also is the period in which the price of oil has fallen more than 40 percent.
For the 2014 fiscal year which ended in May, FedEx spent $4.5 billion for fuel, both for its jet aircraft and its ground vehicles.