Climate Changes And Climate Change Essay - 1458 Words

Abstract: Climate is inherently variable. Climate changes from place to place and it varies with time. The world now faces one of the complex and important issue it has ever had to deal with: climate change. Climate change today is one of the biggest concerns of human beings on the planet and the effects of climate change are undeniable and it may cause environmental, social, and economic threats to the planet. We already know and easily can highlight several signs of climate change. They are: rising global sea level, widespread melting of snow and ice, rapidly changing ocean and global temperatures, and other signs. So, what are the causes of climate change? Is it natural or do human beings cause it? Well, in both cases we would be right. The climate change can be affected by natural factors, such as solar output, volcanic eruptions, and the Earth’s orbit around the Sun. Also, climate change can be affected by human activities such as, deforestation, burning fossil fuels, causing ozone hole, and building mass destructive weapons and using them on earth that causes a huge radioactivity on earth. Currently, the threat of global climate change does not threaten some nations to the extent of others. Compare the United States with the rest of African countries. We live in prosperity and in much easier time than the rest African countries. Most African countries cannot grow anything on their lands because of climate change. At the end, climate change might affect everyone onShow MoreRelatedClimate Changes And Climate Change Essay1656 Words   |  7 Pages Climate change is defined by the Intergovernmental panel on climate change ( IPCC) as a variation in the mean state of climate persisting for an extended period of time typically decades or longer while the United Nations Framework Convention on Climate Change (UNFCC) defines climate change as a change in the climate which is attributed directly or indirectly to human activities that alters the composition of the gl obal atmosphere and which is in addition to natural climate variability observedRead MoreClimate Changes And Climate Change1016 Words   |  5 Pagesâ€Å"Climate change is a reality that is happening now, and that we can see its impact across the world† (Haddrill, 2014) Climate change is the changes in the pattern of the climate due to natural and human activities that has been used inappropriately. Climate is defined as the â€Å"average weather† (Calow, 1998) for a particular region. Climate change is the human activities that affect Earth’s climate by using the human activities inappropriately that leads to the warming of the Earth. There are varietyRead MoreClimate Changes And Climate Change797 Words   |  4 Pagesdirect/indirect link between extreme events and climate change and the similar observation was found by Seneviratne et al., 2012) supporting that Climate change has resulted in changes in the occurrence of extreme events. Moreover, Out of 24 ex treme events analyzed in this paper, 12 showed direct or indirect links to anthropogenic climate change and some could not be explained. Once a change has been detected it is important to attribute that change to some cause. Attribution, especially to humanRead MoreClimate Changes And Climate Change1081 Words   |  5 PagesThe concept of climate change has been around for quite a while. The earliest mention of climate change dates back to the 19th century. Swedish scientist, Svante Archenius was the first scientist to study the effect of CO2 on climate. (Rodhe et al 1997) The Intergovernmental Panel on Climate Change (IPCC) defines climate change as â€Å"A change in the state of the climate that can be identified (e.g by using statistical tests) by changes in mean and/or the variability of its properties and that persistsRead MoreClimate Changes And Climate Change1817 Words   |  8 Pageshear the words â€Å"climate change† what comes to mind? Probably weather and the changes. Many of us watch the news or use an app on our cellphones/electronic devices to keep an eye on the weather for the day, week, or even the month. But, there is actually a difference between weather and climate. Weather is actually â€Å"the changes we see and feel outside from day to day. It might rain one day and be sunny the next. Weather also changes from place to place† (Dunbar, 2014). Whereas â€Å"climate is the usual weatherRead MoreClimate Changes And Climate Change935 Words   |  4 PagesClimate change is one of the most important challenges of human kind in this century. The ability to adapt, mitigate and reduce carbon emissions will be decisive to preserve the world for future generations. The last IPCC report has provided more evidence regarding the rise in temperature and sea level. Apparently, additional 2 °C above the pre-industrial average temperature levels is unavoidable, and it will continue at that level due the accumulation of gases in the atmosphere (Solomon 2009). ClimateRead MoreClimate Changes And Climate Change Essay1382 Words   |  6 PagesClimate change could be described as any process that causes adjustment to climate system be it a volcanic eruption to a change in the solar activity. Today, however, the phrase is most often used as climate change caused by humans. Climate change is also used commonly with another phrase – global warming – reflecting scientific observations of strong warming trends over the past century or so. Indicators like rising sea levels, retreating snow cover and gla ciers, longer growing seasons and shiftingRead MoreClimate Change Is The Change923 Words   |  4 PagesClimate change is the change in earth’s climate like temperature and precipitation over a particular region. Climate change has shown its affect all across the globe and is leading to all undesirable loses. Some of the reasons of radical climate changes are: †¢ Irresponsible activities of humans like misuse of fossil fuels, polluting water bodies and use of non-renewable sources †¢ Burning of fossil fuels like coal and oil are rising the levels of carbon dioxide in the air. Climate change is not onlyRead MoreClimate Change Is A Change1482 Words   |  6 Pages Climate change is a change in global or regional climate patterns. Climate change is a topic that is brought up in many different genres of conversations. Whether it be brought up and discussed in politics, school, family, or friends, some people still limit using those words when in casual conversation. Some of those same people are the people who still deny that climate change is happening. Climate change affects every single one of us. It affects everyone who lives on this earth every day andRead MoreThe Change Of The Climate Change1184 Words   |  5 Pages The world continues to spin and spin, and we’ve always heard about the condition of the climate. We hear about the changing levels of CO2 in our atmosphere and the Earth’s population contribution to the rise of it. No one usually stops to think about how the food production systems for the food we eat is also a contributing factor to the rise of CO2. â€Å"I turn my life upside-down, start biking to work, plan t a big garden, turn down the thermostat so low I need the Jimmy Carter signature cardigan

The Assassination Of Timothy Mcveigh - 1509 Words

Ever since its creation America has always been seen as the icon for peace and prosperity; however, just like every other nation in the world, America has encountered some exceedingly dark and sinister incidents of the past years. Like David Berkowitz’s killing spree in New York City during the summer of 1976, the Virginia Tech shooting that took place on the college campus in 2007, and even the horrific Oklahoma City Bombing that Timothy McVeigh orchestrated in 1995. But there is one event in particular that was even more heinous and stranger than any of those – the Jonestown Massacre. It was a mass suicide that occurred on November 18, 1978, in Guyana that took the lives of over 900 innocent people (The Stigmatized Deaths in Jonestown†¦Ã¢â‚¬ ¦show more content†¦It was after several moves starting in the Midwest and ending in the Westcoast that Jones decided that the Peoples Temple needed to emigrate from San Francisco to Guyana in order to escape what he bel ieved to be creeping fascism in the United States. Jones was a Marxist after all so there was always that need to rebel against America and its capitalistic ideas (Russell 39). And the communist utopia that Jones and the Peoples Temple had created (Jonestown) began to flourish. It had seemed that the utopia Jones had always envisioned was now reality. The members of the Peoples Temple began to feel at home because it was a place where anyone no matter what race, gender, or even age could live in perfect harmony with one another. In fact during its first phase of existence it could actually be considered a proper socialist community from the point of view of a true political scientist (Latson). And it was not until the late 1970s that Jim Jones and Jonestown began to crumble which could only be explained by Jones’ unusual metamorphosis. Nobody really knows for sure what happened to him when he and the Peoples Temple had left the United States to build their community in Guyana , but it would be something that would end up destroying not only himself but everything he and the Peoples Temple had created. In 1978 it had become evident that theShow MoreRelatedTerrorism : The United States1530 Words   |  7 Pagesviolate federal and state law; appear to be intended to (i) intimidate or coerce a civilian population, (ii) to influence the policy of a government by intimidation or coercion; or (iii) to affect the conduct of a government by mass destruction, assassination, or kidnapping; and occur primarily outside the territorial jurisdiction of the U.S.; or transcend national boundaries in terms of the means by which they are accomplished, the persons they appear intended to intimidate or coerce, or the localeRead MoreThe Assassination Of Abraham Lincoln Essay1317 Words   |  6 Pagesâ€Å"Sic Semper tyrannis† or â€Å"Thus always I bring death to tyrants† were the famous words of Confederate actor John Wilkes Booth after he shot President Linc oln at Ford’s Theatre. The assassination of Abraham Lincoln was a tragic event that will be forever remembered in the hearts of all American citizens. On April 20, 1999 in Littleton, Colorado, Booth’s words would make a comeback during another American tragedy; Columbine high school was the setting for arguably one of the most notorious school shootingsRead MoreThe Assassination Of Abraham Lincoln Essay1342 Words   |  6 Pagesâ€Å"Sic Semper Tyrannis† or â€Å"Thus always I bring death to tyrants† were the famous words of Confederate actor John Wilkes Booth after he shot President Lincoln at Ford’s Theatre. The assassination of Abraham Lincoln was a devastating event that will be forever remembered in the hearts of all American citizens. On April 20, 1999 in Littleton, Colorado, Booth’s words became a part of another American tragedy; Columbine high school was the setting for arguably one of the most infamous school shootingsRead MoreCap ital Punishment Of The United States1495 Words   |  6 PagesCity during 2001. Timothy McVeigh was white American who were condemned to decease in June 1997 for the bombarding of the Oklahoma central office block in 1995.The America federal Court denied examination on March 1999. McVeigh was planned for execution on May 2001 but was allowed a thirty day break by Attorney General Ashcroft later it was revealed that the FBI didn’t reveal over three thousand pages of article to McVeigh s protection team. McVeigh was killed on June 2001. McVeigh s perpetrator,Read MoreDomestic And International Terroristic Acts1473 Words   |  6 Pagesthe United States, if the act appears to be intended to: (i) intimidate or coerce a civilian population; (ii) influence the policy of a government by intimidation or coercion; or (iii) to affect the conduct of a government by mass destruction, assassination or kidnapping. Additionally, the acts have to occur primarily within the territorial ju risdiction of the United States and if they do not, may be regarded as international terrorism† (ACLU, n.d.). Domestic terrorism may have its roots in far-rightRead MoreEssay on My Generation 1640 Words   |  7 Pagesworld. In 1981 the year of my birth, Pope John Paul II and President Reagan, are both shot in assassination attempts. He was the first non-Italian pope in 450 years and the first Polish pope. John Paul traveled widely early in his reign, e.g., to Poland and the U.S. in 1979. Following a trip to E Asia (1981), he was shot at the Vatican on May 13, 1981, by a Turkish terrorist (Zpub). The assassination attempts on John Paul II and President Reagan have lifted a dilemma and gun control. Gun controlRead More Motivations Of Terrorists Essays710 Words   |  3 Pagesare not taking extreme measures for personal gain (Deleon). An individual terrorist is more likely to be predisposed to acts of violence without any apparent political assignment. An example of an individual terrorist is Lee Harvey Oswald or Timothy McVeigh. These are the people that are only trying to make a statement for their personal higher cause. More often than not, you will find that the terrorist acting alone is a mentally unstable person that is seeking approval for his idea(s). The nextRead MoreEssay on Capital Punishment - An Appropriate Form of Punishment888 Words   |  4 PagesJuly 7, 1865 on the site of the current Fort McNair in Washington, D.C., four people including the first female to be executed, Mary Surratt, were hanged for co-conspiring with John Wilkes Booth in the assassination of President Abraham Lincoln (Swanson; Weinberg, 2006). More recently, Timothy McVeigh was executed on June 11, 2001 for the April, 1995 bombing of the Alfred P. Murrah Federal Building in Oklahoma City, Oklahoma, that killed 168 people including 19 children and injuring hundreds more (2004)Read MoreEssay about The NRA Killed Gun Control Legislation1464 Words   |  6 Pagesdemonstrated that when guns and kids mix, tragedy results. Yet gun control legislation remains at a standstill. The battle for stricter gun-control laws has not been without victories. In 1968, Congress passed the Gun Control Act in the wake of the assassinations of Martin Luther King, Jr., President John F. Kennedy, and Senator Robert Kennedy. The law mandated stricter licensing requirements, prohibited the sale of handguns to out-of-state residents, and banned mail-order gun sales and the import of gunsRead More Biological Terrorism Essay5064 Words   |  21 Pagesprecipitating the apocalypse through extremely violent acts. In another recent incident of apocalyptic terrorism, Timothy McVeigh detonated a 4,000 lb. fertilizer bomb in front of the Oklahoma City Federal building. Although conventional in composition, the bomb was determined to be a WMD due to its destructive power and target. Some suspect that McVeigh was motivated by the desire to provoke a second civil war. If this was truly McVeighs motivation, is unlikely that he would have

Fedex Annual Report 2012 Free Essays

string(37) " firm that analyzes online commerce\." to stay ahead, we go beyond FedEx Annual Report 2012 â€Å"I wIll make every Fedex experIence outstandIng. † — The Purple Promise When the going gets tough, FedEx shows the spirit and determination that have always set us apart. FY12 was a year of challenges marked by economic and political disruptions and lagging growth around the globe. We will write a custom essay sample on Fedex Annual Report 2012 or any similar topic only for you Order Now To stay ahead, we go beyond — in the way we manage our business, deliver the quality service our customers expect and create solutions for a more sustainable world. A good or acceptable experience doesn’t cut it for us. We share a goal to deliver outstanding FedEx experiences, a commitment we call the Purple Promise. Our team members around the world add up to a powerful advantage for FedEx. One that goes beyond the ordinary to achieve the extraordinary. When We go beyond, our customers and communities thrive. each year we honor the best of the best of our team members with the Purple Promise Chairman’s Award. Meet three of the recipients, from left: Joe Reedy, supervisor, Fedex Custom Critical; Megan hershberger, supervisor, Fedex Custom Critical; William davis, customer advocate representative, Fedex TechConnect. o to fedex. com/annualreport2012 to read their stories. 1 to stay ahead, we lead the way Three things that differentiate FedEx — our people, our strategy and our focused networks — will allow us to achieve this goal. STRATegiC diSCiPline How a business responds during difficult times is a true measure of its resilience and a test of its strategy. In a volatile marketp lace, dedicated FedEx team members turned in a world-class performance last fiscal year. Their dynamic, disciplined approach to some pretty stiff headwinds defines FedEx at its best. Our long-term strategies are working, and we believe we will improve our competitive position and our financial performance over the next several years, as a result. To do so, we must take advantage of our scale to improve our efficiency. And second, we must remain nimble and responsive to our customers. We try to manage the critical balance between the two every day. In this regard, our flexibility kept FedEx profitable during the 2008-2009 recession, and we emerged stronger. In the same vein, we recognize many residual challenges are ongoing and require us to run a lean and flexible organization. All companies, including FedEx, face many rising costs they cannot directly control, be it health care or energy. This, in turn, requires relentless focus on quality, which has been embedded in our culture since our first day of operations. Utilizing our Quality Driven Management system, we are confident we can reduce costs while simultaneously improving service levels. To Our Shareowners, FedEx showed real grit in FY12. We committed to a strong performance, and we delivered — no small feat, given the year’s challenges. Our earnings per share increased 40 percent, and annual revenues exceeded $42 billion, a 9 percent increase, despite political gridlock in the United States, financial turmoil in Europe, a slowing Asian economy and volatile fuel prices. Despite these issues, we managed and improved yields across all of our transportation businesses, allowing us to continue enhancing the services and technology that make our customers more successful and more productive. FedEx Ground had a stellar year, delivering 18. 4 percent operating margins and accounting for more than half of FedEx operating profit. Online shipments spurred record volumes. More than one quarter of our FedEx Ground lanes are now faster in terms of transit times than the competition, boosting service and customer satisfaction to unprecedented levels. As a result, including FedEx SmartPost, our overall U. S. ground parcel-market share has increased to nearly 30 percent, doubling over the last decade. The rapid transformation of FedEx Freight, which basically reinvented the LTL freight industry a little more than a year ago, is paying off with a strong eturn to profitability. Revenues grew 8 percent year over year. Offering both priority and economy service options and industry-leading transit times have made FedEx Freight a market share leader, and customers are delighted by our LTL value proposition. Global uncertainty, a slowdown of Asia exports and weakness in the technology sector challenged FedEx Express in FY12. Although U. S. domestic and international priority package volumes were down, yield improvements h elped FedEx Express maintain profitability. We’re taking advantage of the flexibility we’ve built into our system to match our capacity to the demand; we’ve accelerated the retirement of older, less efficient aircraft and are replacing them with more fuel-efficient planes; and we are taking other actions to increase FedEx Express margins in the future, despite the low-growth environment. 2 FoCuSed neTWoRkS Our customers’ expectations and needs evolve constantly, and so must we. The Roman statesman Marcus Aurelius summed it up best: â€Å"Nothing happens without change. † That’s why our operating companies relentlessly adjust their networks to meet traffic flows and levels. Each network is discrete so it can optimize its business without compromise. Hence our competitive advantage of speed and flexibility: FedEx Express, FedEx Ground and FedEx Freight are superior networks with industry-leading service levels. Superior networks translate into superior solutions for customers. That’s real value. Take as an example the global rise of online buying, now growing at three to four times the rate of retail sales growth overall. For FedEx, that means more deliveries, whether a product is purchased or returned. It’s the perfect fuel for growth, internationally and in the United States. Retailers want a range of shipping options that satisfies their customers’ various expectations for cost and service. In the U. S. we offer express service, customized ground home delivery, and FedEx SmartPost, our most inexpensive shipping option. The low cost of FedEx SmartPost allows retailers to offer free shipping as a marketing tactic. In fact, consumers â€Å"We’re keeping our eye on the ball — loWering costs and improving our efficiency for continued success. † chose the free-shipping option for half of holiday ecommerce transactions last November and December, according to omScore, a firm that analyzes online commerce. You read "Fedex Annual Report 2012" in category "Essay examples" As noted earlier, our QDM philosophy and methods are built on the proven premise that higher quality lowers costs, improves service levels, and enhances the customer experience. It’s a three-legged stool that supports our long-term growth strategies. We apply QD M principles to our sustainability decisions, just as we do to our business decisions, because it’s good business and good for the planet. The FedEx Express vehicle fleet is ahead of plan to be 20 percent more fuel efficient by 2020 than it was in 2005. To support our air fleet modernization program, we have recently agreed to purchase additional Boeing 767 aircraft that are substantially more fuel efficient than the aircraft they will replace. In FY12, we invested about $4 billion in capital expenditures, about half related to modernizing our air fleet. We think such initiatives are an integral part of this year’s No. 6 ranking on fortune’s World’s Most Admired Companies list and No. 7 on the Reputation Institute’s list of the most socially responsible companies in the United States. FedEx provides the efficient access that businesses of all sizes need to succeed, build prosperous communities and raise living standards worldwide. Just ask a British mother who redesigned a simple handbag. In just three years this FedEx customer turned her product into a $3. 3 million global business called Cambridge Satchel Company. Or talk to the founder of OtterBox, a company that makes protective cases for mobile devices. Thanks to the mastery of global supply chains, he grew his business from $5 million to almost $169 million in just three years, while creating more than 500 jobs in his hometown of Fort Collins, Colo. We believe we can continue to improve FedEx’s financial performance in fiscal year 2013 and beyond based on the strategy and initiatives discussed above. But we understand our achievements rely on the trust of our customers, shareowners, and team members and we will continue to earn their confidence by conducting our business with integrity, dependability, and commitment every day, every transaction. That’s our Purple Promise. Sincerely, WoRld-ClASS SoluTionS Growth in the U. S. and Europe is moderate, but there are positive signs worldwide because of the strength of emerging markets. Countries such as China, India, Mexico and Brazil are quickly becoming consumers as well as producers, driving increased demand. The long-term future for global trade remains solid, and we are committed to providing solutions for businesses — large and small — to effectively compete in this important market. Air express will continue to grow long term as the integration of the world’s economies generate more small shipments moving directly from the point of production to the end user. That’s why the unique capabilities of our Boeing 777Fs are a distinct advantage for us. Their long range and nonstop capabilities provide shippers more time to process shipments each day. Concurrently, air freight shipping is becoming more episodic. High-value technology products make up a large portion of this market these days, and more of these goods are being shipped as part of large new product launches. As a consequence, it often takes a large fleet of wide-body aircraft like ours to quickly flex capacity up and down. If a customer asks us to add extra flights, FedEx can do it better than our competitors because we have the largest all-cargo fleet in the world. These trends are reinforced by improved production scheduling, reliability, and logistics information systems. Better visibility into supply chains allows greater use of ocean transportation to ship customers’ commodity freight, a distinct advantage given higher fuel prices. As a result, we’ve been expanding our FedEx Trade Networks capabilities. Since 2008, we’ve opened 47 freight-forwarding offices worldwide to help businesses reach their markets via ocean or air. It’s a key part of our strategy to provide customers with the world-class solutions they need to compete. Despite the slowdown in Europe last year, our business there continues to grow. To better serve customers, FedEx Express is opening stations across Europe. We’ve also recently completed acquisitions of transportation companies in Poland, France, and Brazil to provide customers in those markets with better domestic service and improved access to global markets. innovATion AT WoRk As we grow, we know we must continue to connect the world responsibly. It starts with the Purple Promise, which FedEx team members deliver millions of times a day worldwide: â€Å"I will make every FedEx experience outstanding. If the Purple Promise is our heart, Quality Driven Management (QDM) represents our hands — it’s how we do things at FedEx. Frederick W. Smith Chairman, President and CEO MORE fedex. com/annualreport2012 3 to stay ahead, we change the game As the speed of global change accelerates, the difference between leaders and followers is defined by one word — agilit y. We not only have the ability to quickly react to changing economic conditions and customer needs, but also the agility to anticipate and effect change. FedEx is redefining our industry as we continually reshape and refine our focused networks to gain speed and efficiency. When we change the game, our customers win. ACCeleRATing ACCeSS gAining SPeed FedEx Express is the largest all-cargo airline in the world and the largest express transportation company. Our long-range Boeing 777F aircraft directly link global markets, speeding customers’ shipments door-to-door. In the last two years, we’ve improved global access by completing acquisitions in India, Mexico, Poland, France and Brazil. To accommodate evolving customer needs, the global offices of FedEx Trade Networks offer end-to-end shipping services, including air and ocean freight forwarding supported by customs brokerage. FedEx Ground continues to delight customers by shortening transit times throughout the U. S. and Canada. Businesses can reach more locations faster than with any other ground carrier. Convenient FedEx Ground home delivery and FedEx SmartPost services support the growing consumer trend to buy online, which grew by double digits in each of the last two years. In the United States, Cyber Monday online sales rose 22 percent, to $1. 25 billion last year — the largest online shopping day ever, boosting holiday shipping volumes to record levels. CuSToMeRS ARe in The FAST lAne thanks to a dedicated Fedex ground team that continually fine-tunes the ground network, much like a race car, to enhance speed, safety and reliability. From left: kimberly Whigham, managing director, vehicle Maintenance; Jeff grimm, managing director, linehaul Planning; brian neal, manager, Safety Process Management; Steve griffin, vice president, linehaul; Rich Sturges, senior manager, linehaul engineering. go to fedex. com/annualreport2012 to read their story. 4 ShiFTing geARS innovATing SoluTionS FedEx Freight is the first carrier to offer less-than-truckload (LTL) shipping customers two choices: priority and economy. In an industry where most shipments are processed manually, we’re automating much of the shipping process, improving customers’ productivity and earning their loyalty. We’ve also made it much easier and faster for shippers to classify freight with Freight Central, our convenient online resource for LTL shippers. Combined with industry-leading transit times, these changes have made FedEx Freight a market leader in the U. S. LTL industry, a $31 billion market in 2011. FedEx Services transforms our superior technology and delivery services into shipping and business solutions for customers. Their choices are based on what’s most important to them today. That’s why our portfolio includes air and ocean freight forwarding solutions to complement our express and air cargo services. Meanwhile, at FedEx Office locations, we installed 8,000 pieces of printing equipment in the last two years. The technology can deliver a variety of signage and over-sized prints for customers ranging from big-box retailers with multiple locations to large corporations to small businesses. uperior netWorks deliver game-changing customer solutions. MORE fedex. com/annualreport2012 5 to stay ahead, we do what’s right A passion for quality drives FedEx team members worldwide. Our culture of continuous improvement embraces change and drives innovation. In turn, we enhance the lives of our customers and their communities so that our customers remain among th e most satisfied and loyal in the industry. Whether it’s the transportation services we provide, the information technology we support or the sustainable solutions we implement, when we do the right thing, we earn their trust. QuAliTy dRiven MAnAgeMenT is how we successfully respond to the pressures of today’s business environment. In a recent improvement effort, we’ve reduced lost and damaged shipments, demonstrating our commitment to service excellence and saving millions of dollars. Global teams also worked on behalf of customers to continue improving the customs clearance process. More accurate clearance documentation, technology improvements and better collaboration among global regulatory authorities give FedEx customers an edge in the marketplace. inFoRMATion about a shipment is as important as the shipment itself. Whether it’s an overnight holiday gift or a supply chain that stretches across the globe, our customers stay in-the-know thanks to our superior technology. The new Colorado Springs Enterprise Data Center is the heart of a cutting-edge IT transformation to hybrid cloud architecture. This innovative technology enables FedEx to be more productive and efficient by accessing computer resources even as data expands at 40 percent per year. The size and scope of the implementation is one of the largest within a commercial real-time system. iF knoWledge iS PoWeR, Fedex customers have a competitive advantage thanks to he Fedex Trade networks team that manages My global Trade data. They’re dedicated to providing the quality tracking and reporting that are essential to managing international freight forwarding shipments. From left: Renee brown, product specialist; Paul kirkeby, senior programmer analyst; Chauntisse Foster, senior product advisor; Alan hunt, iT manager. go to fedex. com/annualreport2012 to read their story. 6 SuSTAinAbiliTy and innovation go hand in hand at FedEx. We call it EarthSmart — FedEx solutions for a more sustainable world. Our customers can now neutralize their carbon emissions when they ship their documents by taking advantage of our new FedEx carbon-neutral envelope shipping. FedEx Express is the first global express transportation company to offer the program to customers at no charge. We’re modernizing our aircraft fleet with Boeing 757s, 767s and 777s, which are delivering significant increases in fuel efficiency and reduced operating costs and emissions. After only six years into our 15-year plan, we have completed 69 percent of our goal to reduce aircraft emissions intensity 20 percent by 2020. Because we’re ahead of plan, our goal is to now reduce aircraft emissions intensity 30 percent by 2020. At FedEx Office, more than 5 million pounds of paper were recycled in 2011, saving tens of thousands of trees. FedEx Office built independent paper-recycling systems into all of its North America locations, because many communities have inadequate recycling or none at all. FedEx is closing in on our vehicle fleet fuel-efficiency goal — making our vehicle fleet 20 percent more fuel efficient by 2020 — years ahead of schedule. Our strategy has been to reduce the number of vehicles that we need by continually making our routes more efficient and then selecting the most efficient vehicle for the job. We’re adding 87 all-electric trucks to the fleet to bring the total to 130 in the United States, Asia and Europe. About 11,000 Sprinter vans will also be added. Each is 70 to 100 percent more fuel efficient than the truck it replaces. MORE fedex. com/annualreport2012 7 OPERATING MARGIN 2008(4) 2009(3) 2010 2011(2) 2012(1) 5. 5% 2. 1% 5. 8% 6. 1% 7. 5% financial highlights 2008(4) DILUTED EARNINGS PER SHARE $3. 60 $0. 1 $3. 76 (in millions, except earnings per share) 2012(1) Percent 2011(2) Change 9 34 140bp 40 40 – 17 22 9 (1) (3) 2009(3) 2010 2011(2) REVENUE 2012(1) Operating Results Revenues $ 42,680 $ 39,304 Operating income 3,186 2,378 Operating margin 7. 5% 6. 1% Net income 2,032 1,452 Diluted earnings per common share 6. 41 4. 57 Average common and common equivalent shares 317 317 Capital ex penditures 4,007 3,434 Financial Position Cash and cash equivalents Total assets Long-term debt, including current portion Common stockholders’ investment $ 2,843 29,903 1,667 14,727 $ 2,328 27,385 1,685 15,220 in billions) $4. 57 $6. 41 2008 2009 2010 $38. 0 $35. 5 $34. 7 RETURN ON AVERAGE EQUITY 2011 (4) 2008 2009 2012 (3) 2010 2011(2) 2012(1) 8. 3% $39. 3 0. 7% $42. 7 8. 6% 10. 0% 13. 6% OPERATING MARGIN DEBT TO TOTAL CAPITALIZATION 2008(4) 2009(3) 2008 2010 5. 5% 2. 1% 12. 1% 5. 8% 15. 9% 12. 3% 10. 0% 10. 2% 2011(2) 2012 2009 2010 2011 2012 (1) 6. 1% 7. 5% DILUTED EARNINGS PER SHARE 2008(4) 2009 2010 STOCK PRICE (May 31 close) $91. 71 $55. 43 $83. 49 2008 (3) 2009 2010 $3. 60 $0. 31 $3. 76 COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN* 120 $110 $100 $90 $80 $70 $60 $50 $40 5/07 5/08 5/09 5/10 5/11 5/12 2011(2) 2011 2012(1) 2012 $93. 64 $4. 57 $89. 14 $6. 41 RETURN ON AVERAGE EQUITY 2008(4) 2009(3) 2010 2011(2) 2012(1) 8. 3% 0. 7% 8. 6% 10. 0% 13. 6% DEBT TO TOTAL CAPIT ALIZATION 2008 2009 2010 2011 2012 12. 1% 15. 9% 12. 3% 10. 0% 10. 2% FedEx Corporation SP 500 Dow Jones Transportation Average *$100 invested on 5/31/07 in stock or index, including reinvestment of dividends. fiscal year ending may 31. (1) results for 2012 include a $134 million ($84 million, net of tax or $0. 6 per diluted share) impairment charge resulting from the decision to retire 24 aircraft and related engines at fedex express and the reversal of a $66 million legal reserve initially recorded in 2011. (2) results for 2011 include charges of approximately $199 million ($104 million, net of tax and applicable variable incentive compensation impacts, or $0. 33 per diluted share) for the combination of our fedex freight and fedex national ltl operations and a $66 million reserve associated with a legal matter at fedex express. (3) results for 2009 include a charge of $1. billion ($1. 1 billion, net of tax, or $3. 45 per diluted share) primarily for impairment charges associated with goodwill and aircraft. (4) results for 2008 include a charge of $891 million ($696 million, net of tax, or $2. 23 per diluted share) recorded during the fourth quarter, predominantly for impairment charges associated with intangible assets from the fedex office acquisition. STOCK PRICE (May 31 close) 2008 2009 2010 2011 2012 $91. 71 $55. 43 $83. 49 $93. 64 $89. 14 COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN* 8 ManageMent’s discussion and analysis of results of operations and financial condition OVERVIEW OF FINANCIAL SECTION The financial section of the FedEx Corporation (â€Å"FedEx†) Annual Report (â€Å"Annual Report†) consists of the following Management’s Discussion and Analysis of Results of Operations and Financial Condition (â€Å"MDA†), the Consolidated Financial Statements and the notes to the Consolidated Financial Statements, and Other Financial Information, all of which include information about our significant accounting policies, practices and the transactions that underlie our financial results. The following MDA describes the principal factors affecting the results of operations, liquidity, capital resources, contractual cash obligations and the critical accounting estimates of FedEx. The discussion in the financial section should be read in conjunction with the other sections of this Annual Report and our detailed discussion of risk factors included in this MDA. our reportable segments. Our FedEx Services segment provides sales, marketing, information technology, communications and back-office support to our transportation segments. In addition, the FedEx Services segment provides customers with retail access to FedEx Express and FedEx Ground shipping services through FedEx Office and Print Services, Inc. (â€Å"FedEx Office†) and provides customer service, technical support and billing and collection services through FedEx TechConnect, Inc. â€Å"FedEx TechConnect†). See â€Å"Reportable Segments† for further discussion. The key indicators necessary to understand our operating results include: the overall customer demand for our various services based on macroeconomic factors and the global economy; the volumes of transportation services provided through our networks, primarily measured by our average daily volume and hipment weight; the mix of services purchased by our customers; the prices we obtain for our services, primarily measured by yield (revenue per package or pound or revenue per hundredweight for LTL freight shipments); our ability to manage our cost structure (capital expenditures and operating expenses) to match shifting volume levels; and the timing and amount of fluctuations in fuel prices and our ability to recover incremental fuel costs through our fuel surcharges. ORGANIZATION OF INFORMATION Our MDA is composed of three major sections: Results of Operations, Financial Condition and Critical Accounting Estimates. These sections include the following information: Results of Operations includes an overview of our consolidated 2012 results compared to 2011, and 2011 results compared to 2010. This section also includes a discussion of key actions and events that impacted our results, as well as our outlook for 2013. The overview is followed by a financial summary and analysis (including a discussion of both historical operating results and our outlook for 2013) for each of our reportable transportation segments. gt; Our financial condition is reviewed through an analysis of key elements of our liquidity, capital resources and contractual cash obligations, including a discussion of our cash flows and our financial commitments. Critical accounting estimates discusses those financial statement elements that we believe are important to understanding certain of the material jud gments and assumptions incorporated in our financial results. We conclude with a discussion of risks and uncertainties that may impact our financial and operating results. The majority of our operating expenses are directly impacted by revenue and volume levels. Accordingly, we expect these operating expenses to fluctuate on a year-over-year basis consistent with the change in revenues and volumes. Therefore, the discussion of operating expense captions focuses on the key drivers and trends impacting expenses other than changes in revenues and volume. Except as otherwise specified, references to years indicate our fiscal year ended May 31, 2012 or ended May 31 of the year referenced and comparisons are to the prior year. References to our transportation segments include, collectively, our FedEx Express, FedEx Ground and FedEx Freight segments. DESCRIPTION OF BUSINESS We provide a broad portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the respected FedEx brand. Our primary operating companies are Federal Express Corporation (â€Å"FedEx Express†), the world’s largest express transportation company; FedEx Ground Package System, Inc. (â€Å"FedEx Ground†), a leading North American provider of small-package ground delivery services; and FedEx Freight, Inc. (â€Å"FedEx Freight†), a leading North American provider of less-than-truckload (â€Å"LTL†) freight services. These companies represent our major service lines and, along with FedEx Corporate Services, Inc. (â€Å"FedEx Services†), form the core of 9 management’s discussion and analysis RESULTS OF OPERATIONS CONSOLIDATED RESULTS The following table compares summary operating results (dollars in millions, except per share amounts) for the years ended May 31: Percent Change 2011(2) 2010 2012/2011 2011/2010 2012(1) Revenues $ 42,680 $ 39,304 $ 34,734 9 13 Operating income 3,186 2,378 1,998 34 19 Operating margin 7. 5% 6. 1% 5. 8% 140bp 30bp Net income $ 2,032 $ 1,452 $ 1,184 40 23 Diluted earnings per share $ 6. 1 $ 4. 57 $ 3. 76 40 22 (1) Operating expenses include an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines at FedEx Express and the reversal of a $66 million legal reserve associated with the ATA Airlines lawsuit which was initially recorded in 2011. (2) Operating expenses include $133 million in costs associated with the combination of our FedEx Freight and FedEx National LTL operations, effective January 30, 2011, and a $66 million legal reserve associated with the ATA Airlines lawsuit against FedEx Express. The following table shows changes in revenues and operating income by reportable segment for 2012 compared to 2011, and 2011 compared to 2010 (dollars in millions): Revenues Dollar Change Percent Change 2012/2011 2011/2010 2012/2011 2011/2010 $ 1,934 $ 3,026 8 14 1,088 1,046 13 14 371 590 8 14 (13) (86) (1) (5) (4) (6) NM NM $ 3,376 $ 4,570 9 13 Operating Income Dollar Change Percent Change 2012/2011 2011/2010 2012/2011 2011/2010 $ 32 $ 101 3 9 439 301 33 29 337 (22) 193 (14) – – – – – – – – $ 808 $ 380 34 19 FedEx Express segment(1) FedEx Ground segment FedEx Freight segment(2) FedEx Services segment Other and eliminations (1) FedEx Express segment 2012 operating expenses include an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines at FedEx Express and the reversal of a $66 million legal reserve associated with the ATA Airlines lawsuit which was initially recorded in 2011. (2) FedEx Freight segment 2011 operating expenses include $133 million in costs associated with the combination of our FedEx Freight and FedEx National LTL operations, effective January 30, 2011. 0 management’s discussion and analysis Overview Revenues, operating income and operating margins increased in 2012 due to the exceptional performance of our FedEx Ground segment, improved profitability at FedEx Freight and increased yields across all our operating segments, despite moderating global economic conditions. Our results for 2012 include the impact of cert ain charges and credits as described below, which favorably impacted our year-overyear results by $0. 15 per diluted share, after considering the effect of variable incentive compensation accruals. In addition, our results significantly benefited in 2012 from the timing lag that exists between when fuel prices change and when indexed fuel surcharges automatically adjust. We also benefited from a milder winter, as our 2011 results were negatively impacted by unusually severe winter weather. 26 related engines, as well as six Boeing MD10-10 aircraft and 17 related engines. The decision to retire these aircraft will better align the U. S. domestic air network capacity of FedEx Express to match current and anticipated shipment volumes. Our 2011 results include one-time costs associated with the combination of our FedEx Freight and FedEx National LTL operations of $133 million, including $89 million of impairment and other charges. Our results for 2011 reflected the momentum of improved global economic conditions and strong demand for our services, which drove yield growth and volume increases across all our transportation segments, particularly in International Priority (â€Å"IP†) package shipments at FedEx Express. Our FedEx Ground segment delivered strong results through increasing volume, yield and operating margins. The FedEx Freight segment returned to profitability in the fourth quarter of 2011, primarily due to higher LTL yield. All of our transportation segments benefited from our yield management initiatives in 2011. The combination of our FedEx Freight and FedEx National LTL operations was completed in 2011. Our combined LTL network increases efficiencies, reduces operational costs and provides customers both Priority and Economy LTL freight services across all lengths of haul from one integrated company. Our 2012 results include the reversal of a $66 million reserve associated with the ATA Airlines lawsuit at FedEx Express. This reserve was initially recorded in 2011 when a loss was deemed probable as a result of an adverse decision in the lawsuit. We reversed this reserve during 2012 when FedEx Express won the appeal of this case and the appeals court overturned the prior ruling (See Note 17 of the accompanying consolidated financial statements). Additionally, our 2012 results include a noncash impairment charge of $134 million due to our decision to retire from service 18 Airbus A310-200 aircraft and 11 management’s discussion and analysis 3,000 3,000 2,603 2,603 2,638 2,638 2,684 (1) (1) FedEx FedEx Express(1) Express(1) Average Daily Package Volume Average Daily Package Volume 2,684 3,000 2,577 FedEx Express(1) Average Daily Package Volume 2,638 2,684 4,100 FedEx FedEx Ground(2) Ground(2) Average Daily Package Volume Average Daily Package Volume 4,100 (2) (2) FedEx Ground( Average Daily ,907 3,907 FedEx FedEx Ground Ground FedEx FedEx Express Express 2,500 2,500 2,500 The following graphs for FedEx Express, FedEx Ground and FedEx Freight show selected 3,900 3,900 (in thousands) for the years ended May 31: volume trends Average Daily Package Volume 3,900 Average Daily Package Volume Average Daily Package Volume 2,000 Average Daily Package Volume 2,000 2,000 3,000 1,500 2,500 1,000 3,000 2,000 500 2,500 1,500 0 2,000 1,000 1,500 500 1,000 0 500 0 3,000 2,603 1,500 2,500 1,000 3,000 2,000 2,603 475 500 2,500 1,500 0 2,000 2009 1,000 2,577 2,603 ,100 2,577 FedEx2,603 2,638 Express(1) 2,684 2,577 1,500 2,577 Express(1)2,638 2,684 FedEx Average Daily Package Volume Average Daily Package Volume 523 2,603 2,638 475 575 523 2,638 2,684 575 2,684 559 2,577 1,000 500 559 2,577 475 523 575 4,100 4,100 3,700 3,700 3,900 3,900 4,100 559 4,100 3,500 3,500 3,404 3,700 3,900 3,300 FedEx Ground(2) FedEx Ground(2) 3,700 Average Daily Package Volume Average Daily Package3,907 3,907 Volume 3,523 3,523 3,404 2009 3,523 2010 3,404 3,523 2009 2010 3,404 3,523 2010 2011 2011 2012 2012 3,746 3,746 3,500 3,907 3,300 3,907 3,404 ,746 3,746 3,523 0 2010 2010 2011 2011 2012 2012 2009 575 575 559 559 523 523 U. S. domestic package 475 475 U. S. domestic 1,500 U. S. domestic package package IP package IP package 500 2009 2010 1,000 0 2009 475 500 0 2009 575 559 575 559 2009 2010 2010 2011 2011 2012 2012 523 523 475 U. S. dom estic package package IP package IP package U. S. domestic 3,700 3,900 3,300 2011 2012 2009 3,500 3,500 IP package 3,404 3,700 3,700 3,300 3,500 3,300 2009 3,500 3,404 3,300 3,523 2011 2010 3,746 2011 3,746 2012 2012 2009 2010 2) 2011 2012 2011 2012 FedEx2009 2010 Freight2011 FedEx 2010 Freight FedEx2009 2010 Express and FedEx Ground(2)FedEx Express and FedEx Ground2009 FedEx and FedEx Ground(2) 2012 Express 2010 2011 U. S. domestic package package IP package IP package Volume U. S. domestic Total Average Daily Package Volume AverageLTL Shipments Total Average Daily Package Volume Total Average Daily Package Average Daily Daily LTL Shipments 3,300 2012 FedEx Freight Average Daily 7,800 7,600 7,400 7,800 7,200 7,600 7,000 7,800 7,400 6,800 7,600 7,200 6,600 7,400 7,000 7,200 6,800 7,000 6,600 6,800 7,800 7,600 7,800 (2) (2) 7,538 7,6007,538 90. 0 7,538 0. 0 86. 0 86. 0 90. 0 FedEx FedEx Express and FedEx Ground Express and FedEx Ground Total Average Daily7,353 7,353 Volume Total Aver agePackage Daily Package Volume 7,400 7,400 (2) FedEx Express and FedEx Ground(2) FedEx Express and FedEx Ground7,200 7,200 7,600 Total Average Daily Package 7,538 7,538 Total Average Daily Package Volume Volume 7,002 7,002 7,800 7,353 85. 0 90. 0 80. 0 85. 0 FedEx FedEx Freight Freight 84. 9 84. 9 85. 0 Average Daily LTL Shipments Average Daily LTL Shipments 82. 3 82. 3 90. 0 80. 0 7,000 7,800 7,400 6,780 6,800 7,600 7,200 6,600 7,400 2009 7,000 6,780 7,002 2009 2010 6,780 7,002 2009 2010 6,780 7,002 ,353 7,353 7,000 7,002 6,800 7,538 7,538 7,002 2010 7,353 2011 7,353 2012 2011 6,600 6,780 85. 0 90. 0 75. 0 80. 0 85. 0 70. 0 85. 0 74. 4 90. 0 75. 0 FedEx FreightFreight86. 0 FedEx 80. 0 86. 0 Average Daily LTL Shipments 84. 9 Average Daily LTL Shipments 84. 9 74. 4 82. 3 82. 3 86. 0 86. 0 84. 9 2009 2010 82. 3 74. 4 2010 2011 82. 3 2011 2012 70. 0 75. 0 84. 9 2012 2009 74. 4 82. 3 2012 2009 2010 2011 7,200 6,780 6,800 7,000 6,600 2009 6,780 6,800 80. 0 85. 0 70. 0 2012 2009 74. 4 75 . 0 75. 0 80. 0 80. 0 70. 0 75. 0 70. 0 74. 4 2009 75. 0 2010 2010 2011 2011 2012 2012 74. 4 2009 2010 2010 2011 2011 2012 012 70. 0 70. 0 6,600 6,600 The following graphs 2010 FedEx Express, FedEx Ground and FedEx Freight show selected yield trends for the years ended 2011 31: for May 2011 2009 2010 2011 2011 2012 2012 2009 2009 2009 2010 2010 2012 2012 FedEx FedEx Express Express Revenue per Package – Yield– Yield Revenue per Package (1) (1) FedEx Express Revenue per Package – Yield (1) FedEx FedEx Ground Ground Revenue per Package – Yield– Yield Revenue per Package $9. 25 (2) (2) (2) (2) FedEx Ground ( Revenue per P $70. 00 $60. 00 $50. 00 $70. 00 $40. 00 $60. 00 $30. 00 $70. 00 $50. 00 $20. 00 $60. 00 $40. 00 $10. 00 $50. 0 $30. 00 $40. 00 $20. 00 $30. 00 $10. 00 $20. 00 $21. 00 $10. 00 $20. 00 $19. 00 $21. 00 $18. 00 $20. 00 $21. 00 $17. 00 $19. 00 $20. 00 $16. 00 $18. 00 $19. 00 $17. 00 $70. 00 $57. 81 $60. 00 $70. 00 $57. 81 $53. 10 (1) (1) $56. 08 $53. 10 FedEx FedEx Express Express Revenue per Package – Yield– Yield Revenue per Package $50. 00 $50. 00 $40. 00 $57. 81 $60. 00 $30. 00 $70. 00 $50. 00 $30. 00 $70. 00 $60. 83 $60. 83 $57. 81 $60. 00 $56. 08 $9. 25 $53. 10 $56. 08 $8. 75 $9. 25 $8. 25 $8. 75 $9. 25 $7. 75 $14. 61 2010 $15. 59 $8. 25 $8. 75 $7. 25 $9. 25 $60. 83 $8. 75 FedEx FedEx Ground Ground $8. 77 $8. 77 $8. 5 Revenue per Package – Yield– Yield Revenue per Package FedEx Express(1) FedEx Express(1) $60. 83 $40. 00$60. 83 $57. 81 Revenue$53. 10 Package – Yield– Yield Revenue$53. 10$56. 08 $56. 08 per per Package $16. 21 $57. 81$14. 61 $53. 10 2009 2010 $15. 59 $14. 61$56. 08 $53. 10 2010 2011 $60. 83 $17. 12 $17. 12 $20. 00$60. 83 $16. 21 $15. 59 $56. 08 $10. 00 2011 2012 2012 2009 $9. 25 $8. 25 $20. 00 $16. 21 $57. 81 $60. 00 $40. 00 $10. 00 $50. 00 2009 $30. 00 $8. 75 $9. 25 $7. 70 $7. 75 $17. 12 FedEx Ground (2) FedEx Ground (2) $8. 25 $8. 17 $8. 17 Revenue pe r Package – Yield– Yield $8. 77 Revenue per Package $8. 7 $7. 70 $7. 73 $7. 73 $8. 17 2009 2010 $7. 70 $7. 73 2010 2011 $7. 73 $8. 17 $8. 17 $8. 77 2011 2012 $8. 17 $7. 75 $8. 77 $7. 25 2012 2009 2010 $7. 70 $7. 73 U. S. domestic $17. 12 $40. 00 U. S. domestic package package IP package IP package $17. 12 $20. 00 $16. 21 $16. 21 $15. 59 $14. 61 $15. 59 $14. 61 U. S. domestic package $8. 25 $8. 75 $7. 25 2011 2012 2009 $7. 70 $7. 75 $7. 75 IP package $8. 25 $8. 25 $30. 00 $10. 00 2009 2010 2010 2011 2011 2012 2012 2009 $17. 12 $17. 12 $20. 00 $16. 21 $16. 21 $15. 59 $14. 61 U. S. domestic package U. S. domestic package $14. 61$15. 59IP package IP package $21. 00 $21. 0 $10. 00 2009 2010 2010 2011 2011 2012 2012 2009 $20. 00$19. 57 $20. 00 $19. 57 U. S. domestic package package IP package IP package U. S. domestic $19. 07 $19. 07 $19. 07 $19. 00 $21. 00 $19. 00 FedEx Freight FedEx FedEx Freight Freight Average Fuel Cost per Gallon Gallon Average Fuel Cost per $7. 25 $7. 25 $7. 73 $7. 70 $7. 70 $7. 73 2009 2009 2010 2010 2011 2011 2012 $7. 75 $7. 75 LTL Revenue per Hundredweight – Yield– LTL Revenue per Hundredweight – Yield LTL Revenue per Hundredweight Yield FedEx FedEx Freight Freight LTL Revenue per Hundredweight – Yield– Yield LTL Revenue per Hundredweight $18. 24 $17. 7 $4. 50 $7. 25 $4. 00 $4. 50 $7. 25 2009 $4. 00 $19. 57 $4. 50 2009 2010 2010 2011 2011 $3. 80 2012 2012 Average Fuel C 2012 $4. 00 Average Fuel Cost per Gallon Gallon $3. 80 Average Fuel Cost per $3. 04 $3. 25 $2. 69 $2. 66 $3. 25 $3. 31 $3. 50$3. 31 $2. 66 $3. 80 $3. 04 $2. 69 $2. 15 FedEx FreightFreight FedEx $18. 24 $18. 24 LTL Revenue per Hundredweight – Yield– Yield LTL Revenue per Hundredweight $18. 00$19. 57 $18. 00 $20. 00 $19. 57 $19. 07 $21. 00 $17. 00 $19. 00 $20. 00 $19. 07 $16. 00 $18. 00 2009 $19. 00 $17. 00 $19. 07 $17. 07 $17. 07 $18. 24 $19. 07 2009 2010 $17. 07 2010 2011 $17. 07 $18. 4 $18. 24 $17. 00 $19. 57 $1 9. 57 $16. 00 2011 2012 2012 2009 2010 2011 $3. 50 $3. 50 $3. 04 $4. 50 $4. 50 $3. 00 $3. 00 $2. 62 $4. 00 $4. 00 $2. 50 $2. 50 $4. 50 $4. 50 $3. 50 $3. 50 $3. 04 $2. 00 $2. 00 $4. 00 $4. 00 $3. 00 $3. 00 $2. 62 $1. 50 $1. 50 $3. 50 2012 $3. 50 2009 $2. 50 $2. 50 $3. 04 $3. 00 $2. 00 $2. 50 $1. 50 $2. 00 $1. 50 Average Fuel Cost per Gallon Gallon Average Fuel Cost per $3. 00 $2. 62 $2. 69 $3. 04 $2. 15 $2. 15 $3. 25 $2. 69 $2. 66 2010 $3. 25 2011 $2. 15 $2. 69 $2. 66 $2. 15 2010 2011 Jet 2010 2011 Jet $3. 25 $3. 31 $2. 50 $3. 80 $2. 62 $3. 31 $3. 80 $2. 00$3. 80 $2. 66 $1. 50$3. 1 $3. 25 $3. 31 2011 2012 2012 2009 Jet $2. 66 Jet Vehicle 2010 $2. 62 $2. 69 $18. 00 $18. 00 (2) Package statistics do not include the operations of FedEx SmartPost. $17. 07 $17. 07 $16. 00 $16. 00 2009 2009 2010 2010 2011 2011 2012 2012 $17. 00 $17. 00 (1) Excludes international domestic operations. $18. 24 2009 2010 $3. 04 $2. 15 Vehicle $3. 00 Vehicle $2. 00 $2. 62 $2. 69 $2. 62 $2. 15 2009 2010 Vehicle Vehicle $2. 50 $1. 50 2009 $2. 00 $1. 50 2009 2011 2012 Jet 2011 2012 Jet 2012 12 $16. 00 $16. 00 2009 2009 2010 2010 2011 2011 2012 2012 2009 2010 Vehicle Vehicle 2012 management’s discussion and analysis evenue During 2012, revenues increased 9% due to yield growth across all our transportation segments. At FedEx Express, revenues increased 8% in 2012 led by higher U. S. domestic and IP package yields. However, U. S. domestic package and IP package volumes declined due to weakening global economic conditions. Revenues increased 13% during 2012 at our FedEx Ground segment due to higher yields and strong demand for all our major services. At FedEx Freight, revenues increased 8% during 2012 due to higher LTL yield as a result of higher fuel surcharges and yield management programs, despite a decrease in volume. Revenues increased 13% during 2011 due to yield increases and volume growth across all our transportation segments. Yields improved due to higher fuel surcharges and increased base rates under our yield improvement programs. At FedEx Express, revenues increased 14% in 2011 led by IP volume growth in Asia, as well as U. S. domestic and IP package yield increases. At the FedEx Ground segment, revenues increased 14% in 2011 due to continued volume growth driven by market share gains and yield growth at both FedEx Ground and FedEx SmartPost. At FedEx Freight, yield increases due to our yield management programs and higher LTL fuel surcharges, and higher average daily LTL volumes led to a 14% increase in revenues in 2011. impairment and Other Charges In May 2012, we made the decision to retire from service 18 Airbus A310-200 aircraft and 26 related engines, as well as six Boeing MD10-10 aircraft and 17 related engines. As a consequence of this decision, a noncash impairment charge of $134 million ($84 million, net of tax, or $0. 26 per diluted share) was recorded in the fourth quarter. The decision to retire these aircraft, the majority of which were temporarily idled and not in revenue service, will better align the U. S. domestic air network capacity of FedEx Express to match current and anticipated shipment volumes. Operating inCOme The following tables compare operating expenses expressed as dollar amounts (in millions) and as a percent of revenue for the years ended May 31: 2012 2011 2010 Operating expenses: Salaries and employee benefits $ 16,099 $ 15,276 $ 14,027 Purchased transportation 6,335 5,674 4,728 Rentals nd landing fees 2,487 2,462 2,359 Depreciation and amortization 2,113 1,973 1,958 Fuel 4,956 4,151 3,106 Maintenance and repairs 1,980 1,979 1,715 (1) (2) Impairment and other charges 134 89 18 Other (3) 5,390 5,322 4,825 Total operating expenses $ 39,494 $ 36,926 $ 32,736 (1) Represents charges resulting from the decision to retire 24 aircraft and related engines at FedEx Express. (2) Represents charges associated with the combination of our FedEx Freight and FedEx National LTL operations, effective January 30, 2011. 3) Includes the 2012 reversal of a $66 million legal reserve associated with the ATA Airlines lawsuit which was initially recorded in 2011 (See Note 17 of the accompanying consolidated financial statements). Percent of Revenue 2012 2011 2010 Operating expenses: Salaries and employee benefits Purchased transportation Rentals and landing fees Depreciation and amortization Fuel Maintenance and repairs Impairment and other charges Other (3) Total operating expenses Operating margin 37. 7% 14. 9 5. 8 5. 0 11. 6 4. 6 0. 3(1) 12. 6 92. 5 7. 5% 38. % 14. 4 6. 3 5. 0 10. 6 5. 0 0. 2(2) 13. 5 93. 9 6. 1% 40. 4% 13. 6 6. 8 5. 6 8. 9 4. 9 0. 1 13. 9 94. 2 5. 8% In 2011, we incurred impairment and other charges of $89 million related to the combination of our LTL operations at FedEx Freight. In 2010, we recorded a charge of $18 million for the impairment of goodwill related to the FedEx National LTL acquisition, eliminating t he remaining goodwill attributable to this reporting unit. (1) Represents charges resulting from the decision to retire 24 aircraft and related engines at FedEx Express. 2) Represents charges associated with the combination of our FedEx Freight and FedEx National LTL operations effective January 30, 2011. (3) Includes the 2012 reversal of a $66 million legal reserve associated with the ATA Airlines lawsuit which was initially recorded in 2011 (See Note 17 of the accompanying consolidated financial statements. ) Our 2012 operating income increased 34% and operating margin increased 140 basis points driven by higher yields across all our transportation segments due to higher fuel surcharges and our yield management programs. Our results lso significantly benefited in 2012 from the timing lag that exists between when fuel prices change and when indexed fuel surcharges automatically adjust. FedEx Ground segment operating income increased $439 million in 2012 driven by higher yields and strong demand for all our major services. At our FedEx Freight segment, operating income increased $337 million due to higher LTL yield and efficiencies gained from the combination of our LTL operations in 2011. Additionally, our year-over-year comparisons were favorably impacted by several items as described above in the â€Å"Overview† section. 13 anagement’s discussion and analysis FedEx Ground (2) Revenue per Package – Yield Salaries and benefits increased 5% in 2012 primarily due to higher $9. 25 incentive compensation costs and the full reinstatement of 401(k) $8. 77 company-matching contributions effective January 1, 2011. Purchased $8. 75 transportation costs increased 12% in 2012 due to volume growth and higher fuel surcharges at FedEx Ground, costs associated with the $8. 25 $8. 17 expansion of our freight forwarding business at FedEx Trade Networks $7. 73 and higher utilization of third-party transportation providers in interna$7. 0 $7. 75 tional loca tions primarily due to business acquisitions at FedEx Express. $7. 25 The following graph for our transportation segments shows our average 2009 2010 2011 2012 cost of jet and vehicle fuel per gallon for the years ended May 31: Salaries and employee benefits increased 9% in 2011 due to the reinstatement of merit salary increases, increases in pension and medical Average Fuel Cost per Gallon costs and the reinstatement of full 401(k) company-matching contributions effective January 1, 2011. Purchased transportation increased $4. 0 20% in 2011 due to volume growth, higher fuel surcharges and higher $3. 80 $4. 00 rates paid to our independent contractors at FedEx Ground, as well as costs associated with the expansion of our freight forwarding business $3. 31 $3. 25 $3. 50 $3. 04 at FedEx Trade Networks. Maintenance and repairs expense increased $3. 00 $2. 69 $2. 66 $2. 62 15% in 2011 primarily due to an increase in maintenance events, as a $2. 50 result of timing, and higher utilizatio n of our fleet driven by increased $2. 15 volumes. Other operating expense increased 10% primarily due to $2. 0 volume- and weather-related expenses. $1. 50 2009 2010 2011 2012 Vehicle Jet costs, and increased maintenance and repairs expenses had a negative impact on our performance for 2011. Costs related to the combination of our FedEx Freight and FedEx National LTL operations also negatively impacted our 2011 results by $133 million. Unusually severe weather in the second half of 2011 caused widespread disruptions to our networks, which led to lost revenues and drove higher purchased transportation, salaries and wages and other operational costs. Additionally, a $66 million reserve associated with an adverse jury decision in the ATA Airlines lawsuit against FedEx Express was recognized in 2011. Fuel expense increased 19% during 2012 primarily due to price increases. Our fuel surcharges, which are more fully described in the â€Å"Quantitative and Qualitative Disclosures About Market Risk† section of this MDA, have a timing lag and are designed to pass through the price of fuel not included in our base shipping rates to our customers. Based on a static analysis of the impact to operating income of year-over-year changes in fuel prices compared to changes in fuel surcharges, fuel surcharges significantly exceeded incremental fuel costs in 2012. If fuel prices remain at current levels, that effect is expected to reverse in 2013. Our analysis considers the estimated impact of the reduction in fuel surcharges included in the base rates charged for FedEx Express and FedEx Ground services. However, this analysis does not consider the negative effects that fuel surcharge levels may have on our business, including reduced demand and shifts by our customers to lower-yielding services. While fluctuations in fuel surcharge rates can be significant from period to period, fuel surcharges represent one of the many individual components of our pricing structure that impact our overall revenue and yield. Additional components include the mix of services sold, the base price and extra service charges we obtain for these services and the level of pricing discounts offered. In order to provide information about the impact of fuel surcharges on the trend in revenue and yield growth, we have included the comparative fuel surcharge rates in effect for 2012, 2011 and 2010 in the accompanying discussions of each of our transportation segments. In 2011, operating income increased 19% primarily due to yield and volume increases across all our transportation segments. Higher compensation and benefits, including retirement plans and medical Fuel expense increased 34% during 2011 primarily due to increases in the average price per gallon of fuel and fuel consumption driven by volume increases. Based on a static analysis of the net impact of yearover-year changes in fuel prices compared to year-over-year changes in fuel surcharges, fuel had a positive impact on operating income in 2011, predominantly at FedEx Express. Other inCOme and expense Interest expense decreased $34 million in 2012 due to debt maturities, an increase in capitalized interest related to the timing of progress payments on aircraft purchases and lower financing fees. Interest expense increased $7 million in 2011 due to a decrease in capitalized interest related to timing of construction projects and progress payments on aircraft purchases. nCOme taxes Our effective tax rate was 35. 3% in 2012, 35. 9% in 2011 and 37. 5% in 2010. Our 2012 rate was lower than our 2011 rate primarily due to favorable audit developments. The 2011 rate was lower than our 2010 rate primarily due to increased permanently reinvested foreign earnings and a lower state rate driven by favorable audit and legislative developments. Ou r permanent reinvestment strategy with respect to unremitted earnings of our foreign subsidiaries provided a 1. 3% benefit to our 2012 effective tax rate. Our total permanently reinvested foreign earnings were $1. 0 billion at the end of 2012 and $640 million at the end of 2011. Our current federal income tax expenses in 2012, 2011 and 2010 were significantly reduced by accelerated depreciation deductions we claimed under provisions of the Tax Relief and the Small Business Jobs Acts of 2010, the American Recovery and Reinvestment Tax Act of 2009, and the Economic Stimulus Act of 2008. Those Acts, designed 14 management’s discussion and analysis to stimulate new business investment in the U. S. accelerated our depreciation deductions for new qualifying investments, such as our new Boeing 777 Freighter (â€Å"B777F†) aircraft. These are timing benefits only, in that the depreciation would have otherwise been recognized in later years. The components of the provision for federal income taxes for the years ended May 31 were as follows (in millions): Current Deferred Total Federal Provision 2012 $ (120) 947 $ 827 2011 $ 79 485 $ 564 2010 $ 36 408 $ 444 OutlOOk We anticipate revenue and earnings growth in 2013 despite only modest growth in the global economy. We believe U. S. domestic and global economic conditions will be impacted by the European debt crisis, slowing growth in Asia, and the uncertainty these issues create on the global economy and the demand for our services. These weaker global economic conditions have driven a shift by our customers from premium services to our deferred services, and we expect that trend to continue in 2013. For 2013, we expect our effective tax rate to be between 37. 0% and 38. 0%. The actual rate, however, will depend on a number of factors, including the amount and source of operating income. We also expect our current federal income tax expense will increase in 2013, possibly significantly, due to lower accelerated depreciation benefits than in prior years. Additional information on income taxes, including our effective tax rate reconciliation and liabilities for uncertain tax positions, can be found in Note 11 of the accompanying consolidated financial statements. Business aCquisitiOns During 2012, we continued to expand our FedEx Express international network. On July 25, 2011, we completed our acquisition of Servicios Nacionales Mupa, S. A. de C. V. (MultiPack), a Mexican domestic express package delivery company, for $128 million in cash from operations. Last year, FedEx Express completed the acquisition of the Indian logistics, distribution and express businesses of AFL Pvt. Ltd. and its affiliate Unifreight India Pvt. Ltd. for $96 million in cash on February 22, 2011. The financial results of these acquired businesses are included in the FedEx Express segment from the date of acquisition and were not material, individually or in the aggregate, to our results of operations or financial condition. Substantially all of the purchase price was allocated to goodwill, which was entirely attributed to our FedEx Express reporting unit. Our anticipated earnings growth in 2013 is predicated on continued improvement in profitability at our FedEx Freight segment from yield growth and efficiency improvements and the sustained strong performance of our FedEx Ground segment. International revenue growth and network efficiency improvements at FedEx Express should also contribute to our earnings growth in 2013. However, significant cost headwinds in pension expense will hamper earnings growth in 2013 as a historically low discount rate at our May 31, 2012 measurement date will increase these costs by approximately $150 million. During 2013, we will continue to evaluate actions and opportunities to reduce costs, improve efficiencies and adjust our networks to match anticipated demand. Initial actions were taken in 2012, as we made the decision to retire 24 aircraft and related engines at FedEx Express to better align the U. S. omestic air network capacity to match current and anticipated shipment volumes. In addition, we remain focused on modernizing our aircraft fleet at FedEx Express by adding newer aircraft that are more reliable, fuel efficient and technologically advanced, and retiring older, less-efficient aircraft. As a result of these efforts, FedEx Express is shortening the depreciable lives of the following aircraft and related engines: 31 additional Boeing MD10-10s, 18 additional Airbus A310s, four Boeing 727s (â€Å"B727†) and one Boeing MD10-30. This will accelerate the retirement of these aircraft to align with the delivery schedule for replacement Boeing 767-300 Freighter (â€Å"B767F†) and Boeing 757-200 (â€Å"B757†) aircraft. The accelerated depreciation on these aircraft is expected to total $69 million in 2013, with a partial offset from the avoidance of depreciation related to the aircraft retirements (described in the â€Å"Impairment and Other Charges† section above). FedEx Express is also developing an operating and cost structure plan during 2013 to further improve its operational efficiency. Our capital expenditures for 2013 are expected to decrease to approximately $3. 9 billion, with fewer aircraft deliveries in 2013. We will continue to evaluate our investments in critical long-term strategic projects to ensure our capital expenditures generate high returns on investments and are balanced with our outlook for global economic conditions. On June 29, 2012, FedEx Express entered into a upplemental agreement to purchase nine additional B767F aircraft, exercised ten B767F options available under the December 2011 agreement and purchased the right to 15 additional options. In conjunction with the supplemental agreement to purchase B767F aircraft, FedEx Express converted four B777F aircraft deliveries to equivalent purchase value for B767F aircraft purchased under the supplemental agreement. For additional details on key 2013 capital projects, refe r to the â€Å"Capital Resources† and â€Å"Liquidity Outlook† sections of this MDA. Subsequent to year-end, we completed the following acquisitions: Opek Sp. z o. o. , a Polish domestic express package delivery company, for $54 million in cash from operations on June 13, 2012 TATEX, a French express transportation company, for $55 million in cash from operations on July 3, 2012 Rapidao Cometa Logistica e Transportes S. A. , a Brazilian transportation and logistics company, for $398 million in cash from operations on July 4, 2012 Based on the timing of the completion of these acquisitions in relation to the date of issuance of the financial statements, the initial purchase price accounting was not completed for these acquisitions. The financial results of these acquired businesses will be included in the FedEx Express segment from the date of acquisition and will be immaterial to our 2013 results. These acquisitions will give us more robust transportation networks within these countries and added capabilities in these important global markets. 5 management’s discussion and analysis Our outlook is dependent upon a stable pricing environment for fuel, as volatility in fuel prices impacts our fuel surcharge levels, fuel expense and demand for our services. Historically, our fuel surcharges have largely offset incremental fuel costs; however, volatility in fuel costs may impact earnings because adjustments to our fuel surcharges lag changes in actual fuel prices paid. Therefore, the trailing impact of adju stments to our fuel urcharges can significantly affect our earnings either positively or negatively in the short-term. NEW ACCOUNTING GUIDANCE New accounting rules and disclosure requirements can significantly impact our reported results and the comparability of our financial statements. During our fiscal year, the Financial Accounting Standards Board issued new guidance to make the presentation of items within other comprehensive income (â€Å"OCI†) more prominent. The new standard will require companies to present items of net income, items of OCI and total As described in Note 17 of the accompanying consolidated financial comprehensive income in one continuous statement or two separate statements and the â€Å"Independent Contractor Matters† section of our consecutive statements, and companies will no longer be allowed to FedEx Ground segment MDA, we are involved in a number of lawsuits present items of OCI in the statement of stockholders’ equity. This new and other proceedings that challenge the status of FedEx Ground’s standard is effective for our fiscal year ending May 31, 2013. wner-operators as independent contractors. FedEx Ground anticipates continuing changes to its relationships with its contractors. The nature, We believe there is no additional new accounting guidance adopted but not yet effective that is relevant to the readers of our financial timing and amount of any changes are dependent on the outcome of statements. However, there are numerous new proposals under develnumerous future events. We cannot reasonably estimate the potenopment which, if and when enacted, may have a significant impact on tial impact of any such changes or a meaningful range of potential outcomes, although they could be material. However, we do not believe our financial reporting. that any such changes will impair our ability to operate and profitably REPORTABLE SEGMENTS grow our FedEx Ground business. See â€Å"Risk Factors† for a discussion of these and other potential risks and uncertainties that could materially affect our future performance. seasOnality Of Business Our businesses are cyclical in nature, as seasonal fluctuations affect volumes, revenues and earnings. Historically, the U. S. express package business experiences an increase in volumes in late November and December. International business, particularly in the Asia-to-U. S. market, peaks in October and November in advance of the U. S. holiday sales season. Our first and third fiscal quarters, because they are summer vacation and post winter-holiday seasons, have historically experienced lower volumes relative to other periods. Normally, the fall is the busiest shipping period for FedEx Ground, while late December, June and July are the slowest periods. For FedEx Freight, the spring and fall are the busiest periods and the latter part of December, January and February are the slowest periods. For FedEx Office, the summer months are normally the slowest periods. Shipment levels, operating costs and earnings for each of our companies can also be adversely affected by inclement weather, particularly the impact of severe winter weather in our third fiscal quarter. FedEx Express, FedEx Ground and FedEx Freight represent our major service lines and, along with FedEx Services, form the core of our reportable segments. Our reportable segments include the following businesses: FedEx Express Segment FedEx Ground Segment FedEx Freight Segment FedEx Services Segment gt; FedEx Express (express transportation) FedEx Trade Networks (air and ocean freight forwarding and customs brokerage) FedEx SupplyChain Systems (logistics services) FedEx Ground (small-package ground delivery) FedEx SmartPost (small-parcel consolidator) FedEx Freight (LTL freight transportation) FedEx Custom Critical (time-critical transportation) FedEx Services (sales, marketing, information technology, communi cations and back-office functions) FedEx TechConnect (customer service, technical support, billings and collections) FedEx Office (document and business services and package acceptance) 6 management’s discussion and analysis FEDEX SERVICES SEGMENT The FedEx Services segment operates combined sales, marketing, administrative and information technology functions in shared services operations that support our transportation businesses and allow us to obtain synergies from the combination of these functions. For the international regions of FedEx Express, some of these functions are performed on a regional basis by FedEx Express and reported in the FedEx Express segment in expense line i How to cite Fedex Annual Report 2012, Essay examples

Coral Reef and Australia free essay sample

The great outback! Hey mate! Ever wanted to take an adventurous trip somewhere, but you’re not sure where? Well Australia would be the perfect place to start! Three reasons why Australia should be the first place you visit are for starters, the amazing scenery and beauty of the country, Secondly the exquisite variety of food, and lastly, the unique culture. Australia has one of the most breath taking sceneries in the world, all the way from the Great Barrier Reef to the city of Melbourne. The Great Barrier Reef is known for being the largest coral reef in the world; it is so incredibly vast that it can even be seen all the way from outer space. It is also unbelievably beautiful. Other beautiful places to visit in Australia are the Sydney harbor, which was the first settlement in Australia and you can also find the iconic Sydney opera house there, the beautiful island of Tasmania which is the most mountainous region of Australia and is dotted with beautiful flowing rivers and waterfalls, and also another iconic symbol of Australia the Uluru rock, this rock is famed for its amazing color changes as the sun sets and rises. We will write a custom essay sample on Coral Reef and Australia or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Australia has so many beautiful sights to visit, which is one fantastic reason to visit Australia. Australian cuisine can vary from your common everyday food that we have here in America, to all kinds of interesting and exotic foods native to Australia. The term â€Å"bush tucker† is used to describe a certain type of cuisine in Australia, that is made up of the native foods in Australia, such as kangaroo, emu, or even crocodile. A lot of foods in Australia contain seafood, as Australia is the third largest fishing zone in the world. Some iconic foods of Australia are, for one, the Chiko roll, a deep-fried savory roll that is also similar to a spring roll. Other iconic foods are vegemite, macadamia nuts, violet crumble, cherry ripe Jaffa’s, and many other different foods. The food in Australia is often described as exotic and delicious. This stimulating food variety is just another great reason why Australia should be at the top on your list of places to visit. The culture in Australia is very interesting and fun, especially if you’re into surfing and water sports, which are very big in Australia, along with other sports such as rugby, cricket, and soccer. Australia is also big into country music, which may come as a surprise to some people, but some great country singers have come from Australia such as Keith Urban. The common apparel in Australia is called surf wear or bush wear, and is very popular among many of the Australian people. As far as religion goes, Australia has no official one, but according to the Australian census, most people are either Christian or irreligious. Most of the Christian are either Roman Catholic, Anglican, or apart of the uniting church. As you now know, Australia has a very interesting and diverse culture, which is the last reason why you should make visiting Australia a priority. In conclusion, Australia is stunningly gorgeous and has many captivating sights and historical scenery to visit while you’re there. It also has a very unique and beloved cuisine that is unlike any other in the world and accordingly very great tasting. Lastly, the variety of culture is just amazing and so fascinating. These are the three main reasons why your next vacation should be a trip to the great outback! See you ther!

Sports Autobiography free essay sample

It was as if I had won the World Series. Next I would be touring the country, signing autographs, and riding on floats in city parades. Everywhere I’d go, locals would triumphantly hoist me atop their shoulders as I would wave to the adoring fans. I believed this all to be true. I was on top of the world, and a member of the red Aces, the winning team of the Ridgway, IL, tee-ball tournament. At five years of age, this was no small feat. It was the most significant event of my dear little life. I felt like a rock star, a five year old rock star. Even since with monumental moment, athletics have always played a large role in my life. It’s obvious that at a young age, I desperately believed that I was great at sports, whether I actually was or not. To me, I was the cat’s pajamas. We will write a custom essay sample on Sports Autobiography or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This sense of accomplishment is common at that age according to the Developmental Changes in Goal Orientation, which implies that effort equals excellence. Even before my tee-ball years, I remember playing sports with my family, baseball in the backyard, and basketball in the shed, depending on the weather. I had always been encouraged by my family, especially my mother who was a volleyball coach and had played several sports herself. She felt it was important for my sister and me to understand and participate in athletics. My mother would tell me stories of how my grandmother played basketball in the 30s in Tennessee. I was inspired by the women in my family and their experiences with sports. I wanted to be a part of something they were apart of and had thoroughly enjoyed. Oddly enough, it was my sister and I who excelled in sports, in comparison to both of my brothers. My family didn’t exactly fit the mold of the traditional gender stereotyping when raising sons and daughters. Parents give more encouragement to sons than daughters in sports. Girls reported lower physical competence in physical activity than boys,† (Brustad, 1996). I participated in sports at an early age because I had positive influences in my family, and because I enjoyed the challenge and the physical activity. By middle school, I began to excel in basketball. Playing for the Gallatin County Hawks girls’ basketball team, I was discovering my talents as a ball player. I played opposite Dana Pinkston, former Saluki women’s basketball guard. She was quick, agile, and very tough. She pushed me to be a better ball player. During this time in my life, I experienced both intrinsic motivation and extrinsic motivation, as described in the Self-Determination Theory. The Self-Determination Theory describes intrinsic motivation as challenge, skill improvement, and fun. Extrinsic motivation includes privileges, social status, recognition, and awards, (Deci Ryan, 1985). My intrinsic motivation included gaining more control of my dribbling, having more confidence on the court, and increasing my shooting accuracy. However, I was motivated as well by the attention I got from the coach and teammates when I performed well. I loved the feeling I got when people clapped for the team as we ran out onto the court. I especially wanted people to clap for me. Basketball was going very well for me at the time and I felt as if I had great potential in the future. During that particular basketball season, I spent several weekends traveling with my family to St. Louis for consultations with an orthopedic surgeon. It was discovered that I had severe scoliosis and might need surgery. I had gone to the doctor after an injury on my hip during the previous softball season and an x-ray on my hip had discovered my problem. Fortunately, it didn’t seem to affect my game, and wasn’t noticeable if you weren’t looking for it. In fears the scoliosis would progress, my parents thought it would be best to have a spinal fusion surgery. Halfway through the basketball season, I had spinal surgery at 13 years old. After the surgery, I was in bed for six weeks, and wasn’t able to exercise or do much of anything for six months. This was very hard, emotionally and physically for a previously very active 13 year old. I wasn’t allowed to participate in competitive sports for one year, but I was determined to play basketball again in high school. During my freshman year basketball season, I spent a couple of months practicing with the team as much as I physically could. It was apparent during the practices, that I had lost much of the stamina, strength, and mobility I once had. I had difficulty keeping up with my teammates, and it seemed my teammates would be frustrated with me for it. After a year following the surgery, I was allowed to compete in games. I wasn’t as good as the year before and I was very conscious of it. I very much wanted to regain what I had lost, and more. I wanted to be able to compete, exceptionally. My perceived competence was very low, but I had a high mastery goal orientation. According to the Achievement Goal Theory, goal orientation and perceived competence of one’s ability will determine their motivation. Goal orientation is not enough to determine motivation (Nichols, 1984, 1989). My motivation and goal orientation, determined that I had high motivation for excelling. I very much wanted to get back into the shape I had once been in. I didn’t play much at all during the rest of the season, and I had lost confidence in myself as an athlete. I felt so far behind and felt obligated to make up for lost times, so I made a goal that I would do anything to get the endurance and strength I once had. During my sophomore year, I began going to early morning practices, which were a volunteer exercise program, mainly for members of the boys’ basketball team. I and one other female attended these early morning practices and were the only two females at the workouts. The other female was a good friend of mine, and also an extremely competitive person. Since I was the only other female, it felt as if we were always in competition with each other. It seemed she always tried to beat me at all the drills. I soon let my goals become more ego oriented. I felt I was always trying to prove myself and my ability and began focusing more on being in competition with others, (Nichols, 1984, 1989). It was noticeable that my enjoyment of sports began to diminish. Not only was I participating in before and after school practices, I took up weight lifting class. I was gaining strength and becoming a better athlete, but was not enjoying sports like I had in the past. I began becoming ego oriented and obsessed with sports and being better. I was playing basketball, softball, and volleyball. In the beginning, I wanted to improve myself, but as the competition escaladed, I began working hard for to prove something to my teammates, coach, and for merit on college applications. My identifications changed, and for the wrong reasons. By my senior year of high school, halfway through basketball season, the burn out began to weigh heavily. A month left in the season, I got mononucleosis. All I wanted to do was play basketball, and again, a physical ailment prevented me from playing. It was probably a blessing in isguise. I think it was a sign that I needed to rest and re-evaluate sports. I began recovering as softball season began to roll around. The funny thing was I really didn’t feel like playing. Three years starting at third base, I just couldn’t do it anymore. I was completely burnt out. All I wanted to do was go home after school, eat dinner, take a nap, and watch wheel of fortune. That’s exactly wh at I did during the spring quarter of my senior year. Season after season of sports, I never allowed myself to rest, even after I had a serious surgery. It was rest that was well needed. I went to college and began participating in intramural basketball and softball. My goals and motivations were focused less on the ego and more on mastery. Maybe it was maturity, or the less competitive environment I was in, but I started to enjoy sports more than I had in high school. I seemed to care less about competing with my teammates or winning, and more about playing hard and having fun. I still had times when I let those ego beliefs take over, but then again, who doesn’t? Exercise and sport has always been a part of my life. Various experiences and challenges have shaped my motivation and approach to sports.

Once upon a time

Once upon a time there was peace between the people of England and the settlers of the American colonies. But as time went on and England began to take advantage of the colonies this great peace left and turned into a bloody revolution which would change the world. This revolution resulted the end of the great English power and the birth of a new country America. Before the actual fighting really started the relationship between the colonists and Great Britain was stretched out to the breaking point as the Americans Representation was very important to the American colonists. The Americans felt that they needed to be represented when issues were brought up that dealt with the welfare of the American colonists. England felt the colonists should do and act on how they felt. To England the Americans were a private gold mine. The colonists could only take so much before rebelling. The Boston Tea Party is just one example of the Americans being fet up with the suffocating grasp which the British held over them. Taxation without representation became a well known cry from the colonists that could The term sovereignty meant nothing to the Royal family which felt they had total control and overall power of the American colonies settled in the English name. But to the American colonists the term sovereignty meant they had the right to rule themselves as their own nation . Part of coming to the American colonies in the early days was the fact that you had certain freedoms that were not permitted in England. The people of America became used to these freedoms and were not about to change their ways when England needed the raw materials and the business. In England there was no such thing as a constitution. The word existed, but their was no piece of paper telling the people of England what rights they had and did not have. It was all knows in a sense by word of mouth. The Amer

Work Breakdown Structure in Project Management Essay

Work Breakdown Structure in Project Management - Essay Example Some of its advantages are the following: A typical construction project involves a WBS that evolves from an initial task that is successively subdivided into smaller work blocks until the lowest level is reached, indicating a tree-like structure. Subdividing the project breaks down the project work effort into packages that are both manageable and independent. It connotes that the lowest level of the package corresponds to the smallest project work, which requires the shortest completion time periods. As WBS shows the relationship of all elements of a project, a sound basis for cost and schedule control is provided. Some lists of project activities involved in WBS include budgeting, cost allocation, time allocation and management, and quality assurance. These are being ensured in the process of work packages. A well-designed WBS often consists of software, hardware, services, data, and facilities (Zachman 1987). Since WBS breaks down the work project into subdivisions in a tree-like structure, the classification format of work packages may include cost centre, fields for responsibility, activity numbering, and so on. A description of the tasks purported to be performed is generated for each element of the WBS, in which each task is diverse from the others. Due to its being process-oriented, the WBS approach is convenient for activity definition, which is the starting step for project planning. ... Due to its being process-oriented, the WBS approach is convenient for activity definition, which is the starting step for project planning. This phase involves several dimensions such as budget, cost, time, and quality, to name a few. A well-designed WBS enables it to easily assign each level of project activity to one terminal element of the structure. From its inception to a completed project, the period of a project's life involves cost estimating, budgeting, accounting, reporting, controlling, and auditing (Wysocki et al., 2003, pp. 137). Work packages involved in the WBS process should be defined in terms of construction methods, design, and completion requirements, which are to be accomplished according to performance dates (Pritchard 1999).It provides a classification system for project work packages according to client needs. A code designation as a means of identification and classification is assigned in each account of a contractor's accounting system, in which the most widely used cost codes are Construction Specifications Institute (CSI) and Uniform Construction Index (UCI) (Zachman 1987). They keep the construction costs within the established budget as well as develop equipment and labor productivity information to estimate the cost of future work. Clearly, the client's budget allocation is reflected in determining a classification system for project work packages. (Task: Let us say you are the manager of a new project to build a new supermarket. Create two WBS examples, one is done by Discipline, the second one is Phase.) Using the Discipline of WBS I am a manager of a new project to build a new supermarket, which in this paper is called Need Superstore. Developing a comprehensive WBS serves as the framework for the new supermarket project,

Statistical assessment of two research reports Essay

Statistical assessment of two research reports - Essay Example A few studies have compared care recipients’ and relatives’ perceptions of care quality in nursing homes as opposed to home-based care. However, a few studies have systematically compared how different stakeholder groups perceive the quality of care offered in different types of community-based older people care settings. Specifically, little is known as to how care recipients and their relatives perceive the quality of services offered in home care as opposed to nursing homes. Such comparisons could offer concrete information regarding quality aspects in need of improvement in each respective setting. In the paper â€Å"Relationships between coping, coping resources and quality of life in patients with chronic illness: a pilot study†(Study 2)- The original purpose of the study was to determine differences between two groups of patients with chronic illness (ESRD and CHF) regarding the following study variables: coping, sense of coherence (SOC), self-efficacy and quality of life (QOL). ... There have been studies where researchers examined relationships between coping and QoL, SOC and QoL, or self-efficacy, coping and QoL. But In these studies, there was no attempt to investigate the relationships between all four variables in patients with chronic illness.This study will consider all the 4 variables at one time and find the correlation between them. 2. Data Collection Method Study 1- All the older people receiving home help services, home care or living in nursing homes in these two municipalities were considered eligible for the study. However, older people not capable of expressing their perceptions because of severe dementia did not receive the questionnaire. The questionnaires were distributed by the nursing staff who were instructed to discuss the capability of each care recipient to reply to the questionnaire with their supervisors. Thus, the only reason for not receiving the questionnaire was severe dementia.All the individuals who were registered as a primary family member to care recipients were included in the study and are referred to as care recipients’ relatives. One relative per care recipient was registered as primary family member and therefore one relative per care recipient was invited to participate in the study. Study 2- A total convenience sample of 201 patients (125 CHF and 76 ESRD) was selected from the medical records in two hospitals in Sweden. The inclusion criteria were: 45–80 years old, main diagnosis of CHF or ESRD, lived in their own homes, read and understood the Swedish language, and that they were not in the terminal stage. Questionnaires were mailed to the recipients with two reminders, which resulted in answers from 64 CHF and 41 ESRD patients within a period of 6 months. Five of the CHF