Good job if you have no asiprations other than a paycheck. Those with ambition look elsewhere.
Pros
Flexibility - Fedex is very casual and laid back. Unless you work in dot-com or other critial business areas you'll work 40 hours or less a week.
Cons
Politics, micromanagement, meetings - it depends on which area you work but getting ahead at FedEx is about who you know and who you network with at FedEx. The secret to getting ahead at FedEx is to make it your life, bleed orange and purple, be on your blackberry 24/7/365 to your mgrs. Excessive reporting on your activities. Each month I have 2 meetings with my director on project updates, monthly dashboard updates, weekly timekeeping and weekly project meetings. Anything less and you'll be branded a "cowboy" or not a team player. More time is spent on how you do things vs. getting the work done.