That's what happened. They lost my package. The interesting thing about this is that Fedex refuses to actual use the term "lost", they called it "UTL" Unable To Locate. My package is currently lost in their own Fedex facility as shown on their tracking website. After numerous calls to Fedex I finally got the original sender to send it again.
The original sender ended up sending a replacement shipment using the same carrier and it did arrive today. I find it funny that the sender only uses Fedex and refuses to use any other carrier. Big business I guess.