FedEx Express
FedEx Express, a subsidiary of FedEx Corp, is the world's largest express transportation company, providing fast and reliable delivery to every US address and to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, usually in one to two business days with the delivery time guaranteed.
Famous Origins
In 1965, Yale University undergraduate Frederick W. Smith wrote a term paper about the passenger route systems used by most airfreight shippers, which be viewed as economically inadequate. Smith wrote of the need for shippers to have a system designed specifically for airfreight that could accommodate time-sensitive shipments such as medicines, computer parts and electronics.
In August of 1971 following his service in the military, Smith bought controlling interest in Arkansas Aviation Sales, located in Little Rock, Ark. While operating his new firm, Smith identified the tremendous difficulty in getting packages and other airfreight delivered within one to two days. This dilemma motivated him to do the necessary research for resolving the inefficient distribution system. Thus, the idea for Federal Express was born: a company that revolutionized global business practices and now defines speed and reliability.
Federal Express was so-named due to the patriotic meaning associated with the word 'Federal, 'which suggested an interest in nationwide economic activity. At that time, Smith hoped to obtain a contract with the Federal Reserve Bank and, although the proposal was denied, he believed the name was a particularly good one for attracting public attention and maintaining name recognition.
Federal Express
The company incorporated in June 1971 and officially began operations on April 17, 1973, with the launch of 14 small aircraft from Memphis International Airport. On that night, Federal Express delivered 186 packages to 25 US cities from Rochester, NY, Miami, Fla.
Company headquarters were moved to Memphis, Tenn., a city selected for its geographical center to the original target market cities for small packages. In addition, the Memphis weather was excellent and rarely caused closures at Memphis International Airport. The airport was also willing to make the necessary improvements for the operation and had additional hangar(飞机库) space readily available.
Company Growth
Though the company did not show a profit until July 1975, it soon became the premier carrier of high-priority goods in the marketplace and the standard setter for the industry it established.
In the mid-1970s, Federal Express took a leading role in lobbying for air cargo control that finally came in 1977.
These changes allowed Federal Express to use larger aircraft (such as Boeing 727s and McDonnell-Douglass DC-10s) and gave incentive for the company's rapid growth. Today FedEx Express has the world's largest all- cargo air fleet, including McDonnell-Douglass MD-11s and Airbus A-300s and A-310s. The planes have a total daily lift capacity of more than 26.5 million pounds. In a 24-hour period, the fleet travels nearly 500,000 miles while its couriers log(飞行若干距离) 2.5 million miles a day—the equivalent of 100 trips around the earth.
The company entered its maturing phase in the first half of the 1980s. Federal Express was well established. Contenders were trying to catch up to a company whose growth rate was compounding at about 40 percent annually. In fiscal year 1983 Federal Express reported $1 billion in revenues, making American business history as the first company to reach that financial hallmark(标志)inside ten years of start-up without mergers or acquisitions.
Overseas Expansion
Following the first of several international acquisitions, intercontinental o