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LARRY: THE CURRENTS FEDEX CEO WARNED TODAY WE MAY BE LIVING IN A GLOBAL RECESSION. HERE ON SET TO WEIGH IN, AN OLD FRIEND, A GREAT AMERICA WHO SERVED HIS COUNTRY IN BATTLE AS WELL AS INVENTING THE MOST REMARKABLE TRANSPORTATION AND LOGISTICS SYSTEM EVER DEVISED. YOU AND I WERE CHATTING BRIEFLY ON THE PHONE AND EMAIL. WE ARE IN A DOWNTURN. FEDEX SEES EVERYTHING. SO YOU HAVE A VERY AUTHOR TAIR DAY TOUGH POSITION. WE LIVE IN 16 MILLION SHIPMENTS ALL OVER THE WORLD AND THE UNITED STATES. IF I HAD A TAKE A SWAG AS THE IT. I WOULD SAY BETWEEN US AND UPS, WE PROBABLY HAVE 12% OF THE COUNTRYS GDP IN OUR PLANES AND TRUCKS EVERY DAY. WE ARE NOT LOOK AT STATISTICS. WE ARE TALK TO CUSTOMERS. I THINK YOU SAW A SEA CHANGE FROM JUNE FORWARD. BUT THE PRICE OF FUEL BECAUSE OF THE ENERGY POLICIES OF EUROPE AND THE UNITED STATES, DRIVEN MOSTLY BY ENVIRONMENTAL GOOD INTENTIONS CAUSED THIS TREMENDOUS RUN-UP IN FUEL WHICH PEAKED JUNE 15. THE SAME TIME YOU HAD OVER THE LAST 15, 16 MONTHS, FIVE SEPARATE
