FedEx Corporation is an American multinational courier delivery services company headquartered in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express (now FedEx Express), which was used from 1973 until 2000. The company is known for its overnight shipping service and pioneering a system that could track packages and provide real-time updates on package location (to help in finding lost packages), a feature that has now been implemented by most other carrier services.
(as Federal Express Corporation)
Little Rock, Arkansas
|Founder||Frederick W. Smith|
|Products||Post delivery, express mail, freight forwarding, third-party logistics|
|Revenue||US$65.450 billion (2018)|
|US$4.870 billion (2018)|
|US$4.572 billion (2018)|
|Total assets||US$52.330 billion (2018)|
|Total equity||US$19.416 billion (2018)|
Number of employees
|Subsidiaries||Office, Express, Ground, Freight, Supply Chain, Custom Critical, Trade Networks, Services|
FedEx Corporation is an import/export company, incorporated October 2, 1997, in Delaware. FDX Corporation was founded in January 1998 with the acquisition of Caliber System Inc. by Federal Express. With the purchase of Caliber, FedEx started offering other services besides express shipping. Caliber subsidiaries included RPS, a small-package ground service; Roberts Express, an expedited shipping provider; Viking Freight, a regional, less than truckload freight carrier serving the Western United States; Caribbean Transportation Services, a provider of airfreight forwarding between the United States and the Caribbean; and Caliber Logistics and Caliber Technology, providers of logistics and technology solutions. FDX Corporation was founded to oversee all of the operations of those companies and its original air division, Federal Express.
In the 1990s, FedEx Ground planned, but later abandoned, a joint service with British Airways to have BA fly a Concorde supersonic jet airliner to Shannon, Ireland with FedEx packages on board, and then FedEx would have flown the packages subsonically to their delivery points in Europe. Ron Ponder, a vice president at the time, was in charge of this proposed venture.
In January 2000, FDX Corporation changed its name to FedEx Corporation and re-branded all of its subsidiaries. Federal Express became FedEx Express, RPS became FedEx Ground, Roberts Express became FedEx Custom Critical, and Caliber Logistics and Caliber Technology were combined to comprise FedEx Global Logistics. A new subsidiary, called FedEx Corporate Services, was formed to centralize the sales, marketing, and customer service for all of the subsidiaries. In February 2000, FedEx acquired Tower Group International, an international logistics company. FedEx also acquired WorldTariff, a customs duty and tax information company; TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks.
FedEx Corp. acquired privately held Kinko's, Inc. in February 2004 and re-branded it FedEx Kinko's. The acquisition was made to expand FedEx's retail access to the general public. After the acquisition, all FedEx Kinko's locations exclusively offered only FedEx shipping. In June 2008, FedEx announced that they would be dropping the Kinko's name from their ship centers; FedEx Kinko's would now be called FedEx Office. In September 2004, FedEx acquired Parcel Direct, a parcel consolidator, and re-branded it FedEx SmartPost.
In December 2007, the U.S. Internal Revenue Service "tentatively decided" the FedEx Ground Division might be facing a tax liability of $319 million for 2002, due to misclassification of its operatives as independent contractors. Reversing a 1994 decision which allowed FedEx to classify its operatives that own their own vehicles as independent contractors, the IRS audited the years 2003 to 2006, with a view to assessing whether similar misclassification of operatives had taken place. FedEx denied that any irregularities in classification had occurred, but faced legal action from operatives claiming benefits that would have accrued had they been classified as employees.
In June 2009, FedEx began a campaign against United Parcel Service (UPS) and the Teamsters union, accusing its competitor of receiving a bailout in an advertising campaign called "Brown Bailout". FedEx claimed that signing the Federal Aviation Administration re-authorization bill, which would let some of its workers unionize more easily (and, according to the Memphis-based company, "could expose [its] customers at any time to local work stoppages that interrupted the flow of their time-sensitive, high-value shipments”), was equivalent to giving UPS a "bailout". Independent observers heavily criticized FedEx's wording, claiming that it was "an abuse of the term". FedEx Express employees are regulated under the Railway Labor Act.
On January 14, 2013, FedEx named Henry Maier CEO and President of FedEx Ground, to take effect after David Rebholz retired on May 31, 2013. On July 17, 2014, FedEx was indicted for conspiracy to distribute controlled substances in cooperation with the Chhabra-Smoley Organization and Superior Drugs. According to the U.S. Department of Justice, "FedEx is alleged to have knowingly and intentionally conspired to distribute controlled substances and prescription drugs, including Phendimetrazine (Schedule III); Ambien, Phentermine, Diazepam, and Alprazolam (Schedule IV), to customers who had no legitimate medical need for them based on invalid prescriptions issued by doctors who were acting outside the usual course of professional practice." A representative for the company contested these claims, stating that it would violate personal rights of customers to deny service and that "We are a transportation company — we are not law enforcement". On July 17, 2016 the Department of Justice U.S. Attorney's Office confirmed in a statement that it had asked U.S. District Court Judge Charles Breyer to dismiss the indictment but also did not say why.
For the fiscal year 2018, FedEx reported earnings of US$4.572 billion, with an annual revenue of US$65.450 billion, an increase of 8.5% over the previous fiscal cycle. FedEx's shares traded at over $244 per share, and its market capitalization was valued at over US$55.5 billion in October 2018. FedEx ranked No. 50 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
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The FedEx logo is a wordmark designed in 1994 by Lindon Leader of Landor Associates, of San Francisco. It consists of Fed in purple and Ex in orange. The FedEx wordmark is notable for containing a subliminal right-pointing arrow in the negative space between the "E" and the "X", which was achieved by designing a proprietary font, based on Univers and Futura, to emphasize the arrow shape. Previously, the Ex was in a different color for each division and platinum for the overall corporation use. However, in August 2016, FedEx announced that all operating units will switch over to the purple and orange color logo over the next 5 years (the same as the original FedEx logo, and later used by FedEx Express).
FedEx is divided into the following operating units:
FedEx SameDay City allows a between: Standard, providing pickup by noon and delivery by the end of the day, or Priority, providing delivery within 2 hours. FedEx SameDay City is currently expanding in all major cities across the country and is planning on becoming its own operating unit in the next five years.
The Standard Carrier Alpha Code (SCAC) is a unique code used to identify transportation companies. It is typically two to four alphabetic letters long. It was developed by the National Motor Freight Traffic Association in the 1960s to help the transportation industry for computerizing data and records. FedEx's codes include:
According to the Center for Responsive Politics, FedEx Corp is the 21st largest campaign contributor in the United States. The company has donated over $21 million since 1990, 45% of which went to Democrats and 55% to Republicans. Strong ties to the White House and members of Congress allow access to international trade and tax cut rebates as well as the rules of the business practices of the United States Postal Service. In 2001, FedEx sealed a $9 billion deal with the USPS to transport all of the post office's overnight and express deliveries.
During the first three months of 2010, FedEx spent nearly $4.9 million lobbying the federal government (UPS, FedEx's main competitor, spent $1.6 million on lobbying over the same period), a 4% increase from the $4.7 million spent during the last quarter of 2009, but more than twice what it spent on lobbying during the first quarter of 2009.
Some of FedEx's ad campaigns:
In 1981, their advertising firm Ally & Gargano hired performer John Moschitta, Jr., known for his fast speech delivery, to do an ad for Federal Express titled "Fast Paced World". This single commercial would be cited years later by New York as one of the most memorable ads ever.
The 1998 FedEx Championship Series season, the twentieth in the CART era of U.S. open-wheel racing, consisted of 19 races, beginning in Homestead, Florida on March 15 and concluding in Fontana, California on November 1. The FedEx Championship Series Drivers' Champion was Alex Zanardi, while the series' Rookie of the Year was Tony Kanaan. This was the first of five years of sponsorship by FDX Corporation, who became FedEx Corporation in 2000.
The season was marred by a deadly crash on lap 175 of the U.S. 500. Adrián Fernández slammed into the outside wall in the fourth turn of Michigan International Speedway. His right front wheel was torn off and hurled over the fence into the stands, killing three spectators (Kenneth Fox, Sheryl Laster, and Michael Tautkus) and injuring six others.Barako Bull Energy
The Barako Bull Energy were a Philippine Basketball Association team that began in 2002 as the FedEx Express.
From its first season until 2005, the team was dubbed as the FedEx Express before changing to Air21 Express. From the 2009 PBA Fiesta Conference until the 2009–10 PBA Philippine Cup, it became known as the Burger King Titans. However, when manager Mikee Romero decided to pull out of the team, they were reorganized and renamed the Burger King Whoppers before returning to their original name starting the 2010 PBA Fiesta Conference.
However, Air21 changed its name to Barako Bull Energy after the Lina Group bought the original Barako Bull franchise and 49 percent stake of Energy Food and Drinks Inc., the owner of the Barako Bull franchise and the exclusive distributor of Red Bull Energy Drink products in the Philippines. They added the word 'cola' to their team name in order to promote their new softdrink product.
Barako Bull is owned by Energy Food and Drinks Inc., a subsidiary of the Linaheim Corporate Services, owners of the defunct Laguna Lakers of the Metropolitan Basketball Association. The franchise bought the former Tanduay team after the 2001 season.CSA Air
Not to be confused with CSA Czech Airlines.CSA Air is a cargo airline based in Kingsford, Michigan, United States. It operates express cargo services in Michigan, Wisconsin, Minnesota, Indiana, Illinois, South Dakota and Canada, operating 52 flights a day. Its main base is Ford Airport in Iron Mountain, Michigan and its air traffic control call sign Iron Air is derived from that city. It exclusively serves as an affiliate of FedEx Feeder, a regional service that operates as a subsidiary of FedEx Express.Cast Away
Cast Away is a 2000 American survival drama film directed and co-produced by Robert Zemeckis and starring Tom Hanks, Helen Hunt, and Nick Searcy. The film depicts a FedEx employee marooned on an uninhabited island after his plane crashes in the South Pacific and his attempts to survive on the island using remnants of his plane's cargo.
The film was released on December 22, 2000. It was a critical and commercial success, grossing $429 million worldwide, with Hanks being nominated for Best Actor in a Leading Role at the 73rd Academy Awards.Dell Technologies Championship
The Dell Technologies Championship was a professional golf tournament on the PGA Tour in the northeast United States, held annually in late summer over the Labor Day weekend. The 2018 edition was the last time the event was staged as the FedEx Cup was reduced from four to three Playoff events in 2019.
In July 2018, the PGA Tour announced that The Northern Trust, the first event of the FedEx Cup playoffs, will rotate between the New York/New Jersey and Boston areas in 2019 and 2020. The 2019 playing of The Northern Trust will be held August 6–11, 2019 at Liberty National Golf Club in Jersey City, New Jersey, and in 2020, The Northern Trust will see the PGA Tour's return to New England and TPC Boston.FedExField
FedExField, originally Jack Kent Cooke Stadium, is an American football stadium located near the Capital Beltway in Prince George's County, Maryland, U.S., five miles (8.0 km) east of Washington, D.C., near the site of the old Capital Centre arena. The stadium is the home of the Washington Redskins of the National Football League (NFL). From 2004 until 2010, it had the largest seating capacity in the NFL at over 91,000. Currently, the capacity is 82,000. FedEx Field is in the Summerfield census-designated place and has a Landover postal address.FedExForum
FedExForum is a multi-purpose arena located in downtown Memphis, Tennessee. It is the home of the Memphis Grizzlies of the NBA and the NCAA Division I men's basketball program of the University of Memphis, both of whom previously played home games at Pyramid Arena. The venue also has the capability of hosting ice hockey games, concerts, and family shows.
The arena officially opened in September 2004 after much debate and also a derecho wind storm on July 22, 2003, that nearly brought down the cranes that were building it near the famed Beale Street. (See Memphis Summer Storm of 2003.) It was built at a cost of US$250 million and is owned by the City of Memphis; naming rights were purchased by one of Memphis' most well-known businesses, FedEx, for $92 million. FedExForum was financed using $250 million of public bonds, which were issued by the Memphis Public Building Authority (PBA).FedEx Cup
The FedExCup is a championship trophy for the PGA Tour. Its introduction marked the first time that men's professional golf had a playoff system. Announced in November 2005, it was first awarded in 2007. Justin Rose is the 2018 champion. This competition is sponsored by FedEx.FedEx Express
FedEx Express, formerly Federal Express, is a cargo airline based in Memphis, Tennessee, United States. It is the world's largest airline in terms of freight tons flown and the world's ninth largest in terms of fleet size. It is a subsidiary of FedEx Corporation, delivering packages and freight to more than 375 destinations in nearly every country each day.Its headquarters are in Memphis with its global "SuperHub" located at Memphis International Airport. In the United States, FedEx Express has a national hub at Indianapolis International Airport. Regional hubs are located at Ted Stevens Anchorage International Airport, Oakland International Airport, Newark Liberty International Airport, Fort Worth Alliance Airport, Piedmont Triad International Airport, and Miami International Airport. International regional hubs are located at Paris-Charles de Gaulle Airport, Guangzhou Baiyun International Airport, Kansai International Airport, Toronto Pearson International Airport, and Cologne Bonn Airport. There are a total of 12 air hubs in the company's worldwide network.FedEx Express Flight 80
FedEx Express Flight 80 was a scheduled cargo flight from Guangzhou Baiyun International Airport in the People's Republic of China, to Narita International Airport in Narita, Chiba Prefecture (near Tokyo), Japan. On March 23, 2009, a McDonnell Douglas MD-11F (N526FE) operating the flight crashed at 6:48 am JST (21:48 UTC, March 22), while attempting a landing on Runway 34L in gusty wind conditions. The aircraft became destabilized at flare and touchdown resulting in an unrecovered "bounced" landing with structural failure of the landing gear and airframe, and came to rest off the runway, inverted, and burning fiercely. The captain and first officer, the jet's only occupants, were both killed.FedEx Office
FedEx Office Print & Ship Services Inc. (doing business as FedEx Office; formerly FedEx Kinko's, and earlier simply Kinko's) is an American retail chain that provides an outlet for FedEx Express and FedEx Ground (including Home Delivery) shipping, as well as printing, copying, and binding services. Unlike its main competitor, The UPS Store which is franchised, all FedEx Office stores are corporate-owned.Federal Express Flight 705
On April 7, 1994, Federal Express Flight 705, a McDonnell Douglas DC-10-30 cargo jet carrying electronics equipment across the United States from Memphis, Tennessee to San Jose, California, was involved in a hijack attempt by Auburn Calloway, who the prosecution argued was trying to commit suicide. Calloway, a Federal Express employee, was facing possible dismissal for lying about his flight hours. He boarded the scheduled flight as a deadhead passenger carrying a guitar case concealing several hammers and a speargun. He intended to switch off the aircraft's cockpit voice recorder before takeoff and, once airborne, kill the crew with hammers so their injuries would appear consistent with an accident rather than a hijacking. However, the CVR was switched back on by the flight engineer, believing that he had neglected to turn it on.
Calloway intended to use the speargun as a last resort. He planned to crash the aircraft hoping that he would appear to be an employee killed in an accident. He sought to let his family collect on a $2.5 million life insurance policy provided by Federal Express. Calloway's efforts to kill the crew were unsuccessful. Despite severe injuries, the crew fought back, subdued Calloway, and landed the aircraft safely.
During his trial, Calloway claimed that he had been mentally ill, but was unsuccessful. He was convicted of multiple charges, including attempted murder, attempted air piracy, and interference with flight crew operations. He received two consecutive life sentences. Calloway successfully appealed the conviction for interference, which was ruled to be a lesser offense of attempted air piracy.Frederick W. Smith
Frederick Wallace "Fred" Smith (born August 11, 1944) is the founder, chairman, and CEO of FedEx, originally known as Federal Express. The company is headquartered in Memphis, Tennessee.Guangzhou Baiyun International Airport
Guangzhou Baiyun International Airport (IATA: CAN, ICAO: ZGGG) is the major airport of Guangzhou, the capital of Guangdong province, China. Both airport codes were inherited from the former Baiyun Airport, and the IATA code is derived from Guangzhou's historical romanization Canton. Baiyun Airport serves as a hub for China Southern Airlines, FedEx Express, 9 Air, Hainan Airlines and Shenzhen Airlines.
In 2017, Guangzhou Baiyun International Airport was China's third-busiest and world's 13th-busiest airport by passenger traffic, with 65,806,977 passengers handled. As for cargo traffic, the airport was China's third-busiest and the 19th-busiest worldwide. Baiyun airport was also the third-busiest airport in China in terms of aircraft movements.Memphis International Airport
Memphis International Airport (IATA: MEM, ICAO: KMEM, FAA LID: MEM) is a civil-military airport seven miles (11.2 km) southeast of downtown Memphis in Shelby County, Tennessee, United States.
Memphis International Airport is home to the FedEx Express global hub, which processes many of the company's packages. Nonstop FedEx destinations from Memphis include cities across the continental United States, Canada, Europe, the Middle East, Asia, and South America. From 1993 to 2009, Memphis had the largest cargo operations of any airport worldwide. MEM dropped to the second position in 2010, just behind Hong Kong; however, it remains the busiest cargo airport in the United States and in the Western Hemisphere.In 2016 MEM had over 4 million passengers, up slightly from 2015. The airport was previously a hub for Northwest Airlines and later Delta Air Lines. As of June 2017, MEM averaged 83 passenger flights per day on all of the airlines serving the city. In recent years the airport added several airlines, including Air Canada, Allegiant Air, Frontier Airlines, and Southwest Airlines. Since Delta's departure as a hub operation, average round trip prices have declined. The July–September 2014 quarter saw a 4.7% decline from the quarter a year earlier.The 164th Airlift Wing of the Tennessee Air National Guard is based at the co-located Memphis Air National Guard Base, operating C-17 Globemaster III transport aircraft.PGA Tour
The PGA Tour (stylized in all capital letters as PGA TOUR by its officials) is the organizer of the main professional golf tours played primarily by men in the United States and North America. It organizes most of the events on the flagship annual series of tournaments also known as the PGA Tour, as well as PGA Tour Champions (for golfers age 50 and older) and the Web.com Tour (for professional players who have not yet qualified to play in the PGA Tour), as well as PGA Tour Canada, PGA Tour Latinoamérica, and PGA Tour China. The PGA Tour is a nonprofit organization headquartered in Ponte Vedra Beach, Florida, a suburb of Jacksonville.Originally established by the Professional Golfers' Association of America, it was spun off in December 1968 into a separate organization for tour players, as opposed to club professionals, the focal members of today's PGA of America. Originally the "Tournament Players Division", it adopted the name "PGA Tour" in 1975 and runs most of the week-to-week professional golf events on the tournament known as the PGA Tour, including The Players Championship, hosted at TPC Sawgrass; the FedEx Cup, with its finale at The Tour Championship at East Lake Golf Club; and the biennial Presidents Cup. The remaining events on the PGA Tour are run by different organizations, as are the U.S.-based LPGA Tour for women and other men's and women's professional tours around the world.St. Jude Classic
The FedEx St. Jude Classic was a professional golf tournament held in Memphis, Tennessee as a regular event on the PGA Tour. The tournament was held annually from 1958 through 2018, and was played in June at TPC Southwind (since 1989).
In 2019, FedEx took over sponsorship of the WGC Invitational and relocated the tournament to Memphis in late July. The relocated WGC event continues the charitable relationship with St. Jude Children's Research Hospital. The new name for the relocated event is the WGC-FedEx St. Jude InvitationalTour Championship
The Tour Championship (stylized as the TOUR Championship) is a golf tournament that is part of the PGA Tour. It has historically been one of the final events of the PGA Tour season; prior to 2007, its field consisted exclusively of the top 30 money leaders of the past PGA Tour season.
Since 2007, it has been the final event of the four-tournament FedEx Cup playoff, with eligibility determined by FedEx Cup points accumulated throughout the season. While originally followed by the PGA Tour Fall Series (for those competing for qualifying exemptions in the following season), a re-alignment of the PGA Tour's season schedule in 2013 made the Tour Championship the final event of the season.
From 1987 to 1996, several courses hosted the event. Beginning in 1997, the event alternated between Champions Golf Club in Houston and East Lake Golf Club in Atlanta; since 2004, East Lake has been the event's permanent home.WGC Invitational
The WGC Invitational (WGC-FedEx St. Jude Invitational starting in 2019) is a professional golf tournament, one of the annual World Golf Championships. It is sanctioned and organized by the International Federation of PGA Tours and the prize money is official money on both the PGA Tour and, except for the 2016 event, the European Tour. The event was established in 1999 as a successor to the World Series of Golf.
Members of Airlines for America
See also: List of airline holding companies
Dow Jones Transportation Average components