Pros
FedEx's current CEO is the original founder of the company with great dreams. This is good because the company has not lost track any time and has been very successful. The management has shown integrity and effectiveness in the past 35 years of history and is one of the virtual duopolies in the US. In the current economic turmoil FedEx has shown tremendous strength and resorted to salary cuts and downsizing in a seemingly fair, controlled and minimal way. The company provides good opportunities for advancement and compensation and advancement are generally performance based. I have not heard of any discrimination based on race, sexual orientation etc. in this company. In short FedEx is a reliable company with good growth opportunities.
Cons
There is some red-tape and it is probably because of the size of the company. The company is conservative and hence chances for innovation are not too many.