FedEx CEO hits back at New York Times tax-bill exposé
FedEx Corp. Chief Executive Fred Smith had a combative response to a New York Times report that detailed how the delivery giant cut its tax bill to zero: Debate me!
The tax cut was supposed to encourage capital investments by companies, but the Times reported that FedEx spent less on capital investments in 2018 than it did in 2017, and is spending even less this year, while sending most of the tax savings on to shareholders through buybacks and dividends.
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