FEDEX DROPS ARTHUR ANDERSEN AS INDEPENDENT AUDITOR

FEDEX DROPS ARTHUR ANDERSEN AS INDEPENDENT AUDITOR    FedEx Corp. said Monday it has dropped Arthur Andersen as its independent auditor, the latest company to drop the accounting house since it became known it played a key role in the Enron collapse.
   FedEx said it has named Ernst & Young as its independent auditor, effective upon Andersen's completion of its review on the financial statements of the company for FedEx's fiscal quarter ended Feb. 28.
   The Memphis-based integrator said in a statement that the decision to change auditors was part of an 'extensive evaluation process,' and 'was not the result of any disagreement between the company and Arthur Andersen on any matter of accounting principles or practices, financial statement disclosure or auditing scope and procedure.'