Tag Archives: FedEx

Ryan’s Memphis Fundraiser: Praise for Ribs, Haslam’s ‘Common Sense’

After genuflecting at the altar of barbecue with a reference to Rendezous’ ribs, Republican vice presidential candidate Paul Ryan reminded his supporters that President Barack Obama’s time in office needs to end, reports the Commercial Appeal.
“This is the most important election in your generation,” the Wisconsin congressman said at The Racquet Club on Thursday afternoon.
“We are picking a path that will set in motion either a reclamation of the American dream,” he said, or one that will result in a “welfare state with a debt crisis” like Europe.
The fundraiser included a $10,000 photo opportunity, a $1,000-per-person reception attended by 220 people and then a $25,000-per-plate dinner at the home of FedEx CEO and founder Fred Smith.
Earlier in the day, the Wisconsin congressman raised $1 million at a similar fundraiser in Knoxville. (Note: News Sentinel story HERE; and the Memphis Daily News says $1 million was raised at Memphis, too.)
…He stressed the need to bring manufacturing opportunities back to America, touting the dangers of “spending money we don’t have.”
“We know what we need to do,” Ryan said. “We know how to pull it together. … This country knows we don’t want four more years of the same. They want to get back to growth and opportunity and we’re going to do that.”
Ryan praised Tennessee’s political leaders — including Gov. Bill Haslam, who hosted the fundraiser — saying that he wished “we had more of this Tennessee common sense.”
A who’s who of state GOP heavyweights turned out to support Ryan, including U.S. Sen. Lamar Alexander, U.S. Rep. Marsha Blackburn, state Sen. Mark Norris and U.S. Rep. Stephen Fincher.

FedEx CEO Was ‘Misunderstood’ About Leaving Tennessee for Tax Reason

FedEx President, Chairman and CEO Fred Smith said today that economist Arthur Laffer must have misunderstood him last week in Memphis because Smith said he’s “never taken a position” on Tennessee’s estate tax and has no plans to leave Tennessee.
From the Rick Locker report:
Smith, founder of FedEx, responded today to public remarks made Monday by Laffer to a state legislative committee during Laffer’s testimony in support of legislation to phase out Tennessee’s inheritance and estate tax by 2016. Laffer is a leader in the lobbying effort to pass the bill and made a 25-minute talk to the House-Senate Fiscal Review Committee Monday in support of the bill.
Laffer gained fame as a supply-side advocate in the administration of former President Ronald Reagan and moved a few years ago from California to Nashville, where he is chairman of Laffer Associates, a consulting firm. He dropped several names during his presentation Monday, including Reagan and California anti-tax activist Howard Jarvis.
At one point, in response to a question about the economic impact on the state of repealing the inheritance tax, Laffer said: “I spent about two hours with Fred Smith three days ago up in Memphis, and he said he’s gettin’ out of this state if it doesn’t happen. And now we don’t want to lose FedEx. Fred Smith’s a couple of classes behind me at Yale and he’s a good friend.”
FedEx on Monday night said the company doesn’t comment on Smith’s personal matters. But Smith issued a statement today saying Laffer must have misunderstood him.