This great American company is having a problem with their system of collecting EFT payments. It seems that during the 4th Q 2019, due to a software glitch or a hacking, they lost track of which small business customers owned them money. Their solution to the problem was to send the small business customers past due notices which threatened discontinuation of services. These notices were sent to all the small business customers, regardless of creditworthiness. There are also reports that in some instances, FedEx was able to collect some of the EFT payments several times without giving credit to the customer.
Calls to FedEx corporate offices have not been returned.
There is no telling as to how extensive this problem is because FedEx is not talking. You may want to take a pass on their stock for the time being.
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