"Following FedEx's ugly pre-announcement, CEO Raj Subramaniam, went
further into the 
drivers behind his company's decision to pull guidance
during an interview with Jim Cramer of CNBC.
“I think so. But you know, these numbers, they don’t portend very well,” Subramaniam said in response to Cramer’s question about whether the economy is “going into a worldwide recession.”
FedEx’s
top executive, who took over the role at the beginning of this year,
said that declining worldwide cargo volumes were the primary factor in
the company’s unsatisfactory performance." ZH
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