FedEx's CEO Bullish on 2011

Bloomberg is reporting this afternoon that Fred Smith, the CEO of FedEx Corp. FDX is bullish on its business out look for 2011 and 2012. Mr. Smith cited package unit volumes in China, India and Brazil as leading indicators that a recovery in the express-shipping industry is under way. “As we get into the second half of fiscal 2011 and roll into 2012, we're very bullish,” Smith said at an investor conference today in Memphis, Tennessee, where FedEx is based. The company's fiscal year ends in May. Mr. Smith noted that freight unit volumes are still hampering results; freight units handle shipments of packages weighting more than 150 pounds. He noted too much capacity, which is weighing on prices. To read the full article, please click here.