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Non-Tech : FedEx (FDX) -- Ignore unavailable to you. Want to Upgrade?

To: Darryl Olson who wrote (289)	12/18/1998 12:40:00 PM
From: EL KABONG!!!	Respond to of 524

Darryl, Thank you very much. KJC

To: Darryl Olson who wrote (289)	12/18/1998 2:13:00 PM
From: Darryl Olson	Read Replies (1) \| Respond to of 524

More contract update: Friday December 18, 1:04 pm Eastern Time Fedex says contract pact made with pilots union (Combines takes; adds detail from news conference) MEMPHIS, Tenn., Dec 18 (Reuters) - Federal Express Corp., the world's largest air express package carrier, said on Friday it reached a contract agreement with the union representing 3,600 of its pilots. The company, a unit of FDX Corp. (NYSE:FDX - news), said the agreement would be presented to the Fedex Pilots Association board of directors and its membership for ratification. The tentative pact, which would be the first contract between the company and its pilots, comes a month after the pilots called off a possible strike. The tentative contract calls for a 17 percent pay raise over five years, the pilots said. Bryan Davies, head of the Fedex Pilots Association negotiating committee, told a news conference that further details of the agreement, reached on Thursday, would not be disclosed because the union members have not seen it. ''The most important part (of the contract) is that pilots now share responsibility for scheduling their lives,'' Davies said. ''In addition to that, all other areas of the contract have been enhanced.'' Negotiations between the union and the company broke off on Oct. 30 when the pilots rejected an offer from the company that included a 17 percent raise over five years. The pilots and Federal Express agreed to restart negotiations on Nov. 20 after the pilots accepted a 60-day coolling off period, eliminating the chance of a strike, which could have hit the carrier during the peak holiday shipping season. A union spokesman said its board of directors will vote on the agreement on Tuesday. If the board approves the contract, it will go to members, who will have 30 days to approve or reject it. The contract negotiations began in July. FDX shares were up $2.94 at $79.25 on the New York Stock Exchange.