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FedEx

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The Federal Express was a passenger train in the northeast U.S.
FedEx Corporation
Company typePublic (NYSE: FDX)
IndustryAir Courier
Founded(1971)
HeadquartersMemphis, Tennessee
Key people
Frederick W. Smith, President/CEO
Alan B. Graf Jr., EVP/CFO
T. Michael Glenn, EVP/Marketing
ProductsSee complete products listing.
Revenue$29,363 million USD 2005
6,245,000,000 United States dollar (2022) Edit this on Wikidata
3,826,000,000 United States dollar (2022) Edit this on Wikidata
Number of employees
250,000 (2005)
Websitewww.fedex.com

FedEx NYSE: FDX, properly FedEx Corporation, is a company that offers overnight courier, ground, heavy freight, document copying and logistics services. FedEx is a portmanteau of the company's original name, Federal Express.

History

The company was founded as Federal Express in 1971 by former U.S. Marine Frederick W. Smith in Little Rock, Arkansas, but moved to Memphis, Tennessee in 1973 after Little Rock airport officials would not agree to provide facilities for the fledgling airline. The name was chosen to symbolize a national marketplace, and help in obtaining government contracts. The company officially began operations on April 17,1973, utilizing a network of 14 Dassault Falcons which connected 25 U.S. cities. FedEx, the first cargo airline to use jet airplanes for its services, expanded greatly after the deregulation of the cargo airlines sector. Federal Express pioneered use of the spoke-hub distribution paradigm in air freight, which enabled it to become a world leader in its field. The company operates much of its U.S. overnight freight through its Memphis hub.

File:Federalexpress.jpg
The original Federal Express logo

In August 1989 the company acquired Flying Tigers, an international cargo airline. In January 1998 Federal Express acquired Caliber System, Inc, which owned RPS, Roberts Express, Viking Freight and Caliber Logistics. When these companies combined, the new organization became known as FDX Corp.

The name "FedEx" had been a popular, if unofficial, abbreviation for Federal Express for several years before the company chose it as its primary brand name in 1994. The "Federal Express" name was eliminated entirely in 2000, when FDX Corporation changed its name to FedEx Corporation.

In 2001, FedEx acquired American Freightways, a leading less-than-truckload carrier in the U.S., combined its operations with Viking Freight and created FedEx Freight. In February 2004, FedEx bought Kinko's, a Dallas-based chain that provides printing and business services, for $2.4 billion.

File:Fedexexpresstruck.jpg
A typical FedEx Express delivery truck
A typical FedEx Ground delivery truck

In its advertising, the company made famous the line "Absolutely, positively" for their overnight service; the original phrase was "When it absolutely, positively has to get there overnight." Another slogan, "Relax it's FedEx", is well recognized. For several years the company promoted the slogan "Don't panic", particularly on buttons. Throughout Europe, the marketing tag line is "Whatever it takes", referring to the efforts that individual employees will go to ensure that the package arrives on time.

Major competitors include DHL, UPS and the USPS.

Operating units and logos

FedEx is now organized into a number of operating units, each of which has its own version of the logo, designed by Lindon Leader of Leader Creative. In all versions, the Fed is purple. The Ex is in a different color for each division. The corporate logo uses a grey Ex. Before all of that, the original "FedEx" logo saw the Ex in orange; it is now used as the FedEx Express logo.

  • FedEx Express -- The original overnight courier services. Uses a large fleet of aircraft and local delivery trucks to move packages. Logo color: orange.
  • FedEx Freight -- Less than truckload (LTL) and other freight services. Logo color: red.
  • FedEx Ground -- Slower delivery times at a cost savings as compared to FedEx Express. Delivers primarily to businesses. Uses a large fleet of trucks which are owned by the independent owner/operators. Formerly Roadway Package System (RPS). Logo color: green.
    • FedEx Home Delivery -- A division of FedEx Ground. Delivers to residences, offering service to virtually every address in the US. The logo is that of FedEx Ground, but often includes a drawing of a dog carrying a package.
    • FedEx SmartPost -- Consolidates parcels, formerly the independent company Parcel Direct.
FedEx Kinko's store
  • FedEx Custom Critical -- Delivers urgent, valuable, or hazardous items using a large fleet of trucks and chartered aircraft. Formerly Roberts Cartage or Roberts Express. Logo color: blue.
    • Passport Transport -- Transports cars, especially those of high value.
  • FedEx Kinko's Office and Print Services -- Provides a range of media services, including printing, copying, and internet access. The logo color is blue, the same as that of FedEx Custom Critical, but it also includes the name Kinko's in purple after FedEx. Formerly an independent company, it was simply known as Kinko's.
  • FedEx Trade Networks -- Provides services relating to customs, insurance, and transportation advice. Formerly C.J. Tower & Sons, then Tower Group International. Logo color: yellow.
  • FedEx Supply Chain Services -- Provides logistics services. Formerly Roadway Logistics System, then Caliber Logistics. The logo color is grey, the same as the corporate logo.
  • FedEx Services -- Provides marketing and information technology (IT) services for the other FedEx divisions. The logo color is grey, the same as the corporate logo. Headquartered in Collierville, TN. TW


FedEx Express aircraft

A FedEx DC-10

(as of September 2005)


FedEx has ordered 10 Airbus A380 freighters and has options on 10 more. [2]

FedEx is currently the largest operator of the A310, Boeing 727, DC10 and MD11.

Trivia

  • The company's well-known logo has a right-pointing arrow located in the negative space between the E and x. While the arrow becomes quite obvious when pointed out, most people don't notice it otherwise. The arrow has been occasionally pointed to as a mild form of subliminal advertising, the arrow symbolizing forward movement and thinking.
  • The movie Cast Away, based on the story Robinson Crusoe, is about a FedEx employee who survives a plane crash and subsequently becomes stranded on an island. According to commentary on the DVD editon of the film, the use of the FedEx name was for authenticity, and not a result of product placement.
  • Chief operating officer Jim Barksdale went on to lead Netscape.
  • A common story is that Fred Smith got a C at Yale University on the paper where he came up with the idea that became FedEx. In an article he wrote for the October 2002 issue of Fortune Small Business he said that he doesn't actually know what grade he got. He said he probably didn't get a very good grade, though, because the paper was not very well thought out.
  • The company's planes are named after the children of employees.
  • FedEx Express flies a large number of packages for United States Postal Service, making it one of FedEx's biggest customers.
  • After Federal Express became known as FedEx and subsequently diversified its operations, it called the original service FedEx Express. Since "FedEx" derives from "Federal Express", this means that "FedEx Express" could be expanded to "Federal Express Express" - a pleonasm.
  • Jeopardy! superchampion Ken Jennings incorrectly asked "What is FedEx?" to the Final Jeopardy! answer: "Most of this firm's 70,000 seasonal white-collar employees work only four months a year." ending his 74-game winning streak. The correct response was "What is H&R Block?," which led to Nancy Zerg's win.
  • The company almost went bankrupt in its first year, but to make it through the Christmas, Fred Smith convinced his employees to work at 70% of their wage. He then took all of his money to Vegas and made enough at the tables to weather a few more months until business picked up.

Naming rights of sports stadiums and events

Motorsports

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