“ Fed Express ” redirects here. For the tennis musician with this nickname, see Roger Federer
FedEx Corporation, once Federal Express Corporation and late FDX Corporation, is an american multinational accumulate holding company focused on transportation, e-commerce and services based in Memphis, Tennessee. [ 3 ] [ 4 ] The list “ FedEx ” is a syllabic abbreviation of the name of the company ‘s original air division, Federal Express, which was used from 1973 until 2000. FedEx today is best known for its air delivery serve, FedEx Express, which was one of the first major ship companies to offer nightlong pitch as a flagship serve. Since then, FedEx besides started FedEx Ground, FedEx Office ( in the first place known as Kinko ‘s ), FedEx Supply Chain, FedEx Freight, and versatile other services across multiple subsidiaries, often meant to respond to its main rival, UPS. FedEx is besides one of the top contractors of the US government and assists in the transport of some United States Postal Service packages through their Air Cargo Network contract. [ 5 ]
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FedEx ‘s prominence in both the United States and the world have made it a coarse subject in popular culture, with examples including the film Cast Away a well as some of its marketing slogans ( most famously “when it absolutely positively has to be there overnight” ). In summation, FedEx has purchased the naming rights to FedExField of the NFL ‘s Washington Commanders and FedExForum of the NBA ‘s Memphis Grizzlies. FedEx ‘s breeze embark services have made its independent hub ( aka the “ Superhub ” ) at Memphis International Airport the busiest cargo airport in the populace by 2020, and Hong Kong [ 6 ] second-busiest cargo airport in the world behind Memphis .
history [edit ]
initiation and early history [edit ]
FedEx ‘s first van displayed at the FedEx World Headquarters For history anterior to its 1997 reorganization, see FedEx Express The company was founded in Little Rock, Arkansas in 1971 as Federal Express Corporation by Frederick W. Smith, a graduate of Yale University. He drew up the company ‘s concept in a term newspaper at Yale, in which he called for a system specifically designed for pressing deliveries. While his professor did n’t think much of the idea, Smith pressed on. He began formal operations in 1973, when he moved operations to Memphis. Smith cited his reasons for choosing Memphis International Airport included its location near the mean population center of the nation and its lack of frequent inclement weather. [ 7 ] The company grew quickly, and by 1983 had a billion dollars in revenues, a rarity for a startup company that had never taken function in mergers or acquisitions in its first gear ten. It expanded to Europe and Asia in 1984. In 1988, it acquired one of its major competitors, Flying Tiger Line, creating the largest full-service cargo airline in the global. In 1994, Federal Express shortened its name to “ FedEx ” for marketing purposes, formally adopting a nickname that had been used for years. [ 7 ]
reorganization and Caliber skill [edit ]
On October 2, 1997, FedEx reorganized as a holding company, FDX Corporation, a Delaware corporation. [ 8 ] The new holding company began operations in January 1998, with the skill of Caliber System Inc. by Federal Express. With the buy of Caliber, FedEx started offering other services besides express ship. Caliber subsidiaries included RPS, a small-package land avail ; Roberts Express, an expedite ship supplier ; Viking Freight, a regional, less-than-truckload cargo carrier wave serving the western United States ; Caribbean Transportation Services, a supplier of air-ship forwarding between the United States and the Caribbean ; and Caliber Logistics and Caliber Technology, providers of logistics and engineering services. FDX Corporation was founded to oversee all of the operations of those companies and its original air division, Federal Express. [ 7 ] 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 auxiliary, called FedEx Corporate Services, was formed to centralize the sales, market, and customer service for all of the subsidiaries. In February 2000, FedEx acquired Tower Group International, an external logistics caller. FedEx besides acquired WorldTariff, a customs duty and tax data company ; TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks. [ 7 ]
twenty-first century [edit ]
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 skill, all FedEx Kinko ‘s locations offered entirely FedEx transportation. [ 7 ] In June 2008, FedEx announced that they would be dropping the Kinko ‘s mention from their ship centers ; FedEx Kinko ‘s would now be called FedEx Office. [ 9 ] [ 10 ] In September 2004, FedEx acquired Parcel Direct, a parcel consolidator, and re-branded it FedEx SmartPost. [ 7 ] In April 2015, FedEx acquired their equal firm TNT Express for €4.4 billion ( $ 4.8 billion ; £3.2 billion ) as it looked to expand their operations in Europe. [ 11 ] [ 12 ] In February 2016, FedEx announced the launch of FedEx Cares, a ball-shaped giving chopine, and committed to invest $ 200 million to strengthen more than 200 communities by 2020. [ 13 ] [ 14 ] In March 2018, FedEx announced the learning of P2P Mailing Limited, a last-mile rescue military service, for £92 million to expand their portfolio. [ 15 ] In June 2019, FedEx announced they would not be renewing their $ 850 million contract with Amazon for the party ‘s U.S. domestic express manner of speaking business. Amazon accounted for 1.3 percentage of 2018 revenues. [ 16 ] In August 2019, FedEx announced the end point of ground deliveries for Amazon equally well. [ 17 ] In December 2020, FedEx acquired ShopRunner, an e-commerce platform. [ 18 ] On March 29, 2022, founder Frederick W. Smith announced he would be retiring as CEO and become executive president effective June 1st, 2022. The company named Raj Subramaniam, FedEx ‘s current president and COO, as Smith ‘s successor. [ 19 ] [ 20 ]
Operating units [edit ]
FedEx Corporation divides its business into the following independent operating units :
FedEx Express [edit ]
FedEx Express is the party ‘s master overnight messenger services, providing following day atmosphere service within the US and time-definite international service. It operates one of the largest civil aircraft fleets in the world, has the largest fleet of wide bodied civil aircraft, and carries more freight than any other airline. [ 21 ] Included in this whole are :
- Caribbean Transport Services: Until 2008, part of FedEx Freight. Provides airfreight forwarding services between the US mainland, Puerto Rico, and other Caribbean destinations.
- TNT Express: Formerly an independent international courier delivery company headquartered in Hoofddorp, Netherlands, now a subsidiary of FedEx. It has fully owned operations in 61 countries, and delivers documents, parcels and freight to over two hundred countries.
- FedEx Custom Critical: Delivers urgent, valuable, or hazardous items using trucks and chartered aircraft. Drivers are independent owner/operators and services in Mexico use interline carriers. Formerly Roberts Express, a subsidiary of Caliber System.
- FedEx Cross Border: Provides information services, compliance management, and currency conversion services for cross-border retailers. Formerly Bongo International.
FedEx Ground [edit ]
FedEx Ground provides day-definite mail and package rescue to commercial locations in the US and Canada and residential locations in Canada. Its services are cheaper than the time-definite services offered by FedEx Express. The party was once Roadway Package System ( RPS ), a division of Caliber System. [ 7 ] The unit besides includes :
- FedEx Home Delivery: Provides domestic residential delivery services on an expanded schedule better suited to personal deliveries. Operates only in the US, residential deliveries in Canada are provided by FedEx Ground. The service’s logo includes a drawing of a dog carrying a package.
- FedEx Ground Economy (formerly FedEx SmartPost): Consolidates parcels from merchants such as e-commerce and catalog companies, transports them in bulk between its hubs, and uses FedEx Ground or Home Delivery for final mile delivery. Formerly Parcel Direct, a subsidiary of catalog publisher Quad Graphics, acquired by FedEx in 2004.
FedEx Freight [edit ]
FedEx Freight is the largest less-than-truckload ( LTL ) freight carrier in the US, reporting US $ 8.9 billion in gross for 2021, [ 25 ] and operates LTL and other freight services in the US and Canada. The unit of measurement was formed in 2002 when FedEx bought regional US LTL carrier american Freightways ( AF ) and established FedEx Freight as a parent caller for AF, renamed FedEx Freight East, and FedEx ‘s existing regional LTL subordinate, Viking Freight, renamed FedEx Freight West. Viking had been a Caliber subordinate when Caliber was acquired by FedEx in 1998. FedEx bought Lakeland, Florida-based home LTL carrier Watkins Motor Lines in 2006 and renamed it FedEx National LTL. All three operated as an autonomous subsidiaries of FedEx Freight [ 26 ] until January 2010 when they were merged with their parent to form a one entity, FedEx Freight Inc. [ 27 ] The unit is the parent of :
- FedEx Freight Canada: Formerly Watkins Canada Express, the Canadian services of Watkins Motor Lines.
FedEx Logistics [edit ]
FedEx Logistics provides provide chain, peculiarity department of transportation, cross border e-commerce, customs brokerage, and barter management technology and services. The division was known as FedEx Trade Networks until January 2019 [ 28 ] and is composed of a total of FedEx acquisitions arsenic well as the operations of former Caliber subsidiaries Caliber Logistics and Caliber Technology. Divisions include :
- FedEx Air and Ocean Cargo Networks: International air and ocean freight forwarding. Formerly C.J. Tower & Sons, TowerGroup International Inc. (acquired by FedEx in 2000), and FedEx Trade Networks Transport & Brokerage, Inc.
- FedEx Customs Brokerage: Customs and international trade compliance services. Formerly World Tariff, Ltd. (acquired by FedEx in 2000) and FedEx Trade Networks Trade Services, Inc.
- FedEx Forward Depots: Critical inventory and service parts logistics. Also includes the TechConnect business equipment repair and refurbishment facilities, 3-D printing services, and the FedEx Packaging Lab.
- FedEx Supply Chain: Third-party logistics including transportation management, warehousing, fulfillment, and returns. Formerly GENCO.
FedEx Services [edit ]
FedEx Services provides bodied services to other FedEx operating companies. specifically, all marketing, sales, price, datum analytics, prediction, finance, customer service, data technology, and their respective organizations ( and cost centers ) reside inside FedEx Services. Customer facing department of transportation services and hold managed by teams within FedEx Services include :
- FedEx Customer Relations: Operates customer service and customer support operations for other FedEx units including Express, Ground, Freight, and Office. Also manages customer operations at staffed locations, manages FedEx drop boxes, and provides internal corporate services. Formerly FedEx Customer Information Services (FCIS).
- FedEx Delivery Manager: Desktop and web software used by FedEx clients to create, track, and manage shipments.
- FedEx Express package services: Overnight and deferred small package transportation services (time definite services).
- FedEx Express Freight services: Overnight and deferred palletized freight transportation services (time definite services).
- FedEx Ground package services: Day definite ground based small package transportation services.
- FedEx Freight transportation services: Day definite ground based freight transportation services.
- FedEx Express International package services: Day definite air based small package transportation services.
- FedEx Express International freight services: Day definite air based palletized freight transportation services.
- FedEx.com online website support: Maintenance and development of all online assets owned by FedEx.
FedEx Dataworks [edit ]
A by-product of FedEx Services, FedEx Dataworks is the youngest of FedEx ‘s operate Companies. FDW is focused on harnessing the power of the ample FedEx data ecosystem to transform the digital and physical customer experience creating solutions that build the network for what ’ s following by collaborating across the enterprise to integrate technology and services using Data Science and Machine Learning to help make shipping more efficient. [ 29 ] Their beginning product was Surround, [ 30 ] a software solution based on proactive monitor and intervention controls across a manner of speaking net whose inaugural habit was used in tracking critical shipments of COVID-19 vaccines .
FedEx Office [edit ]
FedEx Office is the retail arm of the pot propose print and photocopy services, occupation services including signage and marketing, and retail sales of FedEx transportation services. The unit of measurement besides includes FedEx SameDay City, a same-day delivery service. FedEx Office was once an mugwump company, Kinko ‘s, until it was acquired by FedEx in 2004 and rebranded FedEx Kinko ‘s. It was again rebranded in June 2008 becoming FedEx Office. [ 31 ] Its divisions include :
- FedEx Office Print and Ship Centers: Successor to the original Kinko’s operations. Also provide FedEx Hold at Location services, where a package can be delivered to and held at a FedEx Office location for later pickup by the receiver. FedEx Office also operates its own courier network for location to location and local delivery. Includes some locations previously called FedEx World Service Centers which predated FedEx’s Kinko’s acquisition.
- FedEx SameDay City: Same-day delivery courier providing Standard, pickup by noon and delivered by end of day, and Priority, delivery within two hours, services.
Competitors [edit ]
FedEx ‘s basal rival in the United States and most of its international destinations is the United Parcel Service ( UPS ). Both companies employ generally exchangeable strategies ; both companies ‘ largest hub for its air pitch are in the southerly midwest ( Memphis for FedEx and Louisville for UPS ), both offer overnight, 2-day, and flat coat rescue as default option options, both frequently use Ted Stevens Anchorage International Airport for trans-pacific shipments, [ 32 ] and both of their independent hubs are some of the world ‘s busiest airports by cargo traffic. FedEx ‘s other main rival is the United States Postal Service ( USPS ), as USPS offers an overnight avail ( Priority Mail Express ), a 2-5 day service ( Priority Mail ), and an economy/ground serve ( First Class, Parcel Select Ground ). To a lesser extent in the US, FedEx competes with SF Express and DHL, and while DHL ‘s market share in the United States is rising, the ship industry ( not including USPS ) in the United States is chiefly dominated by UPS and FedEx ; DHL is lone a solid rival to FedEx outside of the United States. [ 33 ] Amazon with its airline Amazon Air, its fleet of trucks, vans and ships and its global staff of more than 1.4 million plans to become the largest delivery service in the U.S.A. [ 34 ] [ 35 ]
corporate identity [edit ]
FedEx Ground logo
logo [edit ]
The FedEx logo is a wordmark designed in 1994 by Lindon Leader of Landor Associates, of San Francisco. [ 36 ] It consists of Fed in purple and Ex in orange. The FedEx wordmark is celebrated for containing a subliminal right-pointing arrow in the negative distance between the “ E ” and the “ adam ”, which was achieved by designing a proprietorship baptismal font, based on Univers and Futura, to emphasize the arrow form. [ 36 ] Leader believed the logo promoted FedEx as “ getting from point A to point B faithfully with travel rapidly and preciseness ”. [ 37 ]
|FedEx Custom Critical||Blue & Red|
|FedEx SameDay City||Platinum|
In the early 2000s, the Ex was in a different discolor for each division and platinum for the overall corporation use. however, in August 2016, FedEx announced that all operating units would adopt the empurpled and orange discolor logo over the adjacent five years ( the same as the original FedEx logo, and late used by FedEx Express ). [ 38 ]
advertise [edit ]
FedEx advertising slogans have included : [ 39 ] [ 40 ]
- “When it Absolutely, Positively has to be there overnight” – 1978–1983
- “It’s not Just a Package, It’s Your Business” – 1987–1988
- “Our Most Important Package is Yours” – 1991–1994
- “Absolutely, Positively Anytime” – 1995
- “The Way the World Works,” 1996–1998
- “Be Absolutely Sure,” 1998–2000
- “This is a Job for FedEx,” 2001–2002
- “Don’t worry, there’s a FedEx for that,” 2002–2003
- “Relax, it’s FedEx,” 2004–2008
- “The World On Time” 2001–present
- “We Understand,” 2009–present
- “We Live To Deliver” 2009–present
- “Where now meets next” 2021–present
In 1981, FedEx ‘s ad tauten Ally & Gargano hired performer John Moschitta, Jr., known for his flying speech delivery, to do an ad for Federal Express titled “ Fast Paced World ”. This one commercial was cited years late by New York as one of the most memorable ads always. [ 41 ]
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Motorsports [edit ]
other sports [edit ]
repute [edit ]
The firm was named by Fortune magazine as one of the crown 100 companies to work for in 2013, citing the company ‘s choice to downsize with voluntary buyouts quite than involuntary layoffs. [ 48 ]
corporate affairs [edit ]
Board of directors [edit ]
As of April 2022, the FedEx Corporation board of directors is : [ 49 ]
- Kimberly A. Jabal: Former CFO, Unity Technologies
- R. Brad Martin: Chairman, RBM Ventures
- Fred Perpall: CEO, The Beck Group
- Joshua Cooper Ramo: Chairman and CEO, Sornay LLC
- Frederick W. Smith: Chairman and CEO, FedEx Corporation
- Raj Subramaniam: President and COO, FedEx Corporation
finance [edit ]
For the fiscal year 2020, FedEx reported earnings of US $ 1.286 billion, with an annual gross of US $ 69.217 billion, a decline of 0.7 % over the previous fiscal motorbike. FedEx ‘s shares traded at over $ 273 per share, and its market capitalization was valued at over US $ 2,459 billion in December 2020. [ 50 ] FedEx ranked No. 50 in the 2018 Fortune 500 list of the largest United States corporations by entire tax income. [ 51 ]
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environmental practices and initiatives [edit ]
In early on March 2021, FedEx announced plans to make its operations carbon-neutral by 2040. [ 52 ] It ‘s investing $ 2 billion in sustainable energy initiatives, including $ 100M for a modern Yale Center for Natural Carbon Capture and upgrading its aircraft and ground department of transportation fleets. [ 53 ] It will be the first gear customer to take rescue of GM ‘s electric EV600 delivery vans, as region of the goal of an all-electric land evanesce by 2040. [ 54 ]
political donations and lobby [edit ]
According to OpenSecrets, FedEx Corp is the 79th largest crusade contributor in the United States, having donated over $ 29.8 million to federal candidates and committees since 1989, 37 % of which went to Democrats and 63 % to Republicans. [ 55 ] Strong ties to the White House and members of Congress allow entree to international trade and tax cut rebates angstrom well as the rules of the business practices of the United States Postal Service. In 2001, FedEx sealed a $ 9 billion cover with the USPS to transport all of the post agency ‘s nightlong and express deliveries. In 2005, FedEx was among 53 entities that contributed the maximum of $ 250,000 to sponsor the second inauguration of President George W. Bush. [ 56 ] [ 57 ] [ 58 ] During the 2018 calendar class, FedEx spent closely $ 10.2 million lobbying the federal government, [ 59 ] its lowest entire since 2008 but more than any early company in the air transport diligence. [ 60 ]
SCAC codes [edit ]
The Standard Carrier Alpha Code ( SCAC ) is a unique code used to identify department of 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 department of transportation industry for computerizing data and records. FedEx ‘s codes include :
- FXE – FedEx Express
- FXSP – FedEx SmartPost
- FXG – FedEx Ground
- FXFE – FedEx Freight
- FDCC – FedEx Custom Critical
- FXO – FedEx Office
- FSDC – FedEx Same Day City
Controversies and incidents [edit ]
labor relations [edit ]
In December 2007, the U.S. Internal Revenue Service “ tentatively decided ” the FedEx Ground Division might be facing a tax indebtedness of $ 319 million for 2002, due to misclassification of its operatives as freelancer 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 exchangeable misclassification of operatives had taken place. FedEx denied that any irregularities in classification had occurred, but faced legal natural process from operatives claiming benefits that would have accrued had they been classified as employees. [ 61 ] In June 2009, FedEx began a campaign against United Parcel Service ( UPS ) and the Teamsters union, accusing its rival of receiving a bailout in an advertising crusade called “ Brown Bailout “. FedEx claimed that signing the Federal Aviation Administration re-authorization beak, 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 ” ), [ 62 ] was equivalent to giving UPS a “ bailout ”. independent observers heavy criticized FedEx ‘s give voice, [ 62 ] claim that it was “ an abuse of the term ”. [ 62 ] FedEx Express employees are regulated under the Railway Labor Act. [ 63 ] In July 2020, the Air Line Pilots Association International ( ALPA ), the union that represents FedEx Corp pilots, called for a suspension on the company ‘s Hong Kong operations. According to the union, some members were subject to “ highly unmanageable conditions ” at hospitals urged by government mandates due to the COVID-19 pandemic. [ 64 ] FedEx was criticized more broadly for providing inadequate protections and nauseated leave during the pandemic. [ 65 ]
Allegations of control substances distribution [edit ]
On July 17, 2014, FedEx was indicted for conspiracy to distribute manipulate substances in cooperation with the Chhabra-Smoley Organization and Superior Drugs. [ 66 ] According to the U.S. Department of Justice, “ FedEx is alleged to have wittingly and intentionally conspired to distribute manipulate substances and prescription drugs, including Phendimetrazine ( Schedule III ) ; Ambien, Phentermine, Diazepam, and Alprazolam ( Schedule IV ), to customers who had no legitimate medical want for them based on invalid prescriptions issued by doctors who were acting outside the common course of master practice. ” [ 67 ] A congressman for the caller contested these claims, stating that it would violate personal rights of customers to deny service and that “ We are a fare ship’s company — we are not law enforcement ”. [ 68 ] 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 besides did not say why. [ 69 ] [ 70 ] [ 71 ]
Illegal park criticism [edit ]
FedEx fomite illegally parked in a Washington, DC motorcycle lane in January 2020 condom streets activists have criticized FedEx, along with other tract delivery services, for frequently illegally parking their vehicles in motorcycle lanes while making deliveries, a practice that endangers cyclists. [ 72 ] [ 73 ] [ 74 ] They were criticized aboard peers in a letter from Washington, D.C. ‘s exile representation in 2018. [ 75 ]
criticism of NRA partnership [edit ]
FedEx was criticized for its partnership with the National Rifle Association, which it terminated in 2018 under imperativeness from activists. [ 76 ]
Huawei package delivery dispute [edit ]
On June 1, 2019, China filed a sheath against FedEx for allegedly undermining the rights of taiwanese clients. [ 77 ] The investigation stemmed from allegations by Huawei that FedEx attempted to divert the shipping route of its packages without the company ‘s anterior authority. [ 78 ] [ 79 ] [ 80 ] which in turn have been denied by FedEx. [ 78 ] [ 79 ] It has been reported that FedEx refused to deliver a use Huawei call into the US. Writers at PC Magazine tried to ship a Huawei P30 from a UK position to a US one to find it sent back a few days belated. [ 81 ] [ 82 ] In July 2019, China accused FedEx of holding back more than 100 packages that Huawei was trying to deliver to China. chinese regulators said that the ship’s company committed “ violations ” when it diverted Huawei parcels. [ 83 ]
Allegations of tax avoidance [edit ]
In December 2019, CNBC listed FedEx along with 378 extra Fortune 500 companies that “ paid an effective federal tax rate of 0 % or less ” as a leave of the Tax Cuts and Jobs Act of 2017. [ 84 ] The New York Times reported that FedEx paid $ 1.5 billion in taxes after the 2017 fiscal year ( effective tax rate of 34 % ) and then $ 0 after the 2018 fiscal class ( effective tax rate of 0 % ) as a result of lobbying done by the ship’s company. [ 85 ]
Mass inject at Indianapolis facility [edit ]
A FedEx Ground facility was the locate of a bulk shooting in Indianapolis on April 15, 2021, causing nine deaths ( including the perpetrator ) and at least 6 injuries. FedEx released a statement early the next morning, saying they were “ deeply saddened ” by the personnel casualty of their team members. [ 86 ]
See besides [edit ]
References [edit ]
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