My Hometown
Well, I claim Memphis is my hometown but truthfully, I lived most of my life in Southaven, MS, near Stateline Road. One could quickly cross over Stateline Road into Memphis, so I spent a lot of my time as a teen hanging out at malls and movie theatres, etc. in Memphis. There has been a dismal social climate as life has been difficult for Memphis lately. A popular post has been circulating on social media, “Memphis is Tired!” I know they must be! Crime has increased with the recent kidnappings and mass shooting, a steep incline in the unemployment rate, and now the bread and butter of Memphis —FedEx— is cutting costs, closing 90 stores, and operating fewer flights. FedEx’s global hub and headquarters are in Memphis and the company employs over 30 thousand employees across the city. I am sure there are many who are experiencing anxiety about their futures and what they hold, knowing currently few job opportunities are available with a high unemployment count. With store closing, layoffs will follow. Note: FedEx has not disclosed which stores are being closed and if they are in the Memphis area as of Sept 17. “There may not be a global recession, but there will definitely be a global slowing.”– Dr. John E. Gnuschke is Director of the Sparks Bureau of Business and Economic Research and the Center for Manpower Studies and Professor of Economics at The University of Memphis
Teaching Opportunity
This is a great opportunity to look at global and local economics as far as how the chain of events of supply and demand when the supply is low due to high costs of resources. When resource costs are high including fuel for the planes, the money has to come from somewhere and it eats into other areas of a company’s finances, leading them to cut costs: closing stores and jobs. This leads to economic hardships for cities and regions and the people living within those areas. Identify a major employer in your area and discuss what would happen if that company had to cut costs and how that may affect people’s lives.
In looking at this article, first, have students read the article and listen to the video. Then have students work together to create a flow chart of the cause and effect on Memphis’ economy and citizens as FedEx begins cutting costs and jobs. Discuss how the cost-cutting and layoff may have a domino effect and how the consequences might t be felt in your area of the world.
Geography & Math Made Easy 