FedEx founder Fred Smith: An "overnight" success

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When Fred Smith started his next-day delivery company Federal Express in 1973, flying packages to customers, it was not an overnight success. Today FedEx moves 15 million packages a day aboard its fleet of aircraft, through hubs in Memphis and other cities, to more than 200 countries around the world. CBS News national security correspondent David Martin talks with Smith about how the former Marine captain and decorated Vietnam veteran transformed the shipping industry.
@FedEx #FredSmith
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Опубликовано:

3 июн 2023

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Комментарии : 213

@jojopuppyfish 11 месяцев назад

They left out the part that Fred Smith wrote a paper in college advocating for what became Fed Express. That professor gave him a C grade and said it wasn't feasible.

@bluegrasshack3810 11 месяцев назад

Prof would likely want to reevaluate that grade!

@Rhaspun 11 месяцев назад

I know. I guess they felt it didn't fit in their story. Maybe they thought that many people already know that story.

@AEMoreira81 11 месяцев назад

At the time, the dominant courier was UPS, which is at its heart a trucking company around since 1907.

@JoeHarkinsHimself 11 месяцев назад

What is also not told here is that Fred Smith was from a family that owned one of the largest, most successful long distance trucking companies. When he wrote that aper he already had a great understanding of the logistics of freight pickup and delivery. There were many other men at the same time with similar broad knowledge of the freight businesses but he was the one who saw the possibility of overnight freight using the counter-intuitive concept of running every package, even an envelope going from one city in the same state, all the way to the central hub at Memphis and back out again. He was not only being a genius but he had the courage of a hero to make others see it too.

@paradisepipeco 11 месяцев назад

@@JoeHarkinsHimself That's all very interesting, but the most fascinating fact to me is that his name is Fred Smith. I always assumed that it was Fred X, for obvious reasons.

@nickpacal8418 11 месяцев назад

You know CBS Sunday Morning never disappoints, thank you for all the hard work that goes into presenting this stories.

@jimtewa8096 11 месяцев назад

FedEx Is The Gold Standard In Shipping And Always Will Be.

@HHH-ye1ro 11 месяцев назад

Fascinating story. Thank you for sharing his history. A true American hero.

@crmatlockIII 11 месяцев назад

Thanks to "Uncle" Fred and Federal Express, I had a great job and a comfortable retirement. I've always loved that company and appreciated what it did for me. Also, I have a lot of happy memories and long-term friendships. Memphis facility1981-2003.

@cdog9559 8 месяцев назад

Thank you for your service crmatlockIII ! I've seen soooooooo much and been in amazing situations. Express Courier 1986-2013.

@marksme 11 месяцев назад

Uncle Fred Smith did good. Very proud 😊

@FollowTheJohn 11 месяцев назад

I worked for FedEx when it was Federal Express. If you ever get a chance to take a tour of the sort, in Memphis, do it. It is fascinating.

@andrewmeitner4818 11 месяцев назад

Much respect for this man!

@bluegrasshack3810 11 месяцев назад

We In the Memphis area are so proud of Fred Smith’s accomplishments. The story goes that his college professor gave him a less-than-stellar grade on his paper about his dream. Silly professor! We listen for 18-20 planes lining up nightly to land in Memphis about 2 minutes apart from 10:15-11:15 PM CDT. Then a similar group departs from 3:15-4:15 AM, gaining altitude every second. It’s incredible!Thanks, Fred and the FedEx family!

@bjvu9460 11 месяцев назад

not silly. most people place their limitations on others because of their expeiences and shortsightedness .. it would have sounded impossible for a term paper and could have been if investors didnt stick it out so in one hand it was improbable but with the right person , vision, and the necessary support, it can happen.. Let just say this, had that been 99.99% of business owners it would have failed!

@CFITOMAHAWK2 11 месяцев назад

Tough guy he is. 2 combat tours on dam Vietnam, then Charter pilot overnight flights while attending Yale University? Dammmm . Then founded FeDex too. Outstanding Person.

@tomdalton4293 11 месяцев назад

Fedex sucks

@tuckerbugeater 10 месяцев назад

skull n bones

@projectkj7643 11 месяцев назад

FedEx is one of the most reliable companies I have worked with - they just don't disappoint. Thank you, Fred and Crew!

@donm1612 11 месяцев назад

Worked for them in late the 80s making 17/hour which was 4 times what I could make anywhere else. Helped me through college. I loved the sense of urgency and focus. For a short while in '88 it was possible to send text messages via the onboard unit while driving. FedEx prudently decided to implement an update that automatically disabled the screen when the vehicle was in motion. So FedEx were the first to have text-and-drive and to recognize the dangers of that.

@jimprior5700 8 месяцев назад

Good story, I worked FEDERAL EXPRESS / FEDEX I had a lot of confidence in FRED, he's a good man.

@Rocks_Dad 11 месяцев назад

FedEx has taken advantage of the " Contractor" arrangement. Where UPS provides their drivers with a vehicle and a very reasonable rate of pay. They work long hard hours but they are paid well for it. This FedEx guy is so successful because he forces private owners to buy delivery van " with his FedEx logo on it" even though FedEx has no legal claim to that vehicle or drivers business. In return for FedExs route, the contractor driver must accept the route and perform to FedExs delivery schedule in order to fulfill contract. Many FedEx drivers may even loose money at times depending on location and economy conditions. If I am wrong on this I'm all ears but I can't regard this guy as a business genius when the workforce that serves him endures financial hardship while he gets richer and richer and richer. I'm not even a driver nor know one but I suggest you use UPS and help a brother working man feed his kids without working himself to death before they grow up.

@funnyfarm299 11 месяцев назад

Thia is only ground though, right? My understanding is express is company drivers.

@twolegs6045 11 месяцев назад

I was wondering if anybody was going to tell the truth about this company. Kudos to u! 👍🏾

@MildMisanthropeMaybeMassive 11 месяцев назад

From my understanding, Amazon has been criticized for doing the same thing. Is this common in the delivery/freight/rideshare driver industry?

@u686st7 11 месяцев назад

Express and ground are being merged. A friend was a contractor for FedEx Ground's predecessor RPS. He termed it "a good way to do a lot of work for a little money".

@agreeneish 8 месяцев назад

@@funnyfarm299. Well friend they’re shutting down the Express facilities and the work will be absorbed by Ground .. So they can do it on the cheap ..

@aguerra1381 11 месяцев назад

This is a very good example of the great POWER that works behind the scenes to create our REALITY. No human mind can put all that together and run it at that staggering scale. It is humbling to witness it. It goes far beyond computarization.

@MemphiStig 11 месяцев назад

I worked at the Hub for about 3 years, loading/off-loading planes, and I loved it. Wish I could still be working there. They do treat those employees well, but the work is hard, and turnover is high. The truckers are a totally different side of it, and have their own experience. But the ramp workers have good gigs, mostly. And the benefits are good too.

@meloneymoore8856 11 месяцев назад

Fred Smith is a true innovator from the same space of my own heart❤

@duaneraymond4252 11 месяцев назад

I don't know his management style but to go from soldier in a terrible conflict to changing the face of transport, he is a remarkable gentleman.

@raymondfundora3492 11 месяцев назад

There's a flip side to that. remember if the cover looks great, You still have to open the book.Its not all what u think ...

@duaneraymond4252 11 месяцев назад

@@raymondfundora3492 if your kids call you 'Stalin', there must be a reason. Maybe he's a ruthless guy when the camera's off...

@Higgins8 11 месяцев назад

What a great man.

@DrVVVinK 11 месяцев назад

Never knew about how they paid their low level, part-timer employees; good for him. A lot of CEOs should take note

@Somewondude 11 месяцев назад

@@DrVVVinK yeah that's why they stay. the benefits!

@marknc9616 11 месяцев назад

I used to fly Northwest Airlines which had a hub in Memphis. It was a wild change from a passenger hub to a package hub.

@JCNDCIII 11 месяцев назад

Yeah. I hated it when Delta bought Northwest. MEM used to be kind of exciting to fly through. Now it is like a ghost town. The new terminal is nice but I miss the terminals!

@61076MY 11 месяцев назад

I wonder how different Little Rock (and Arkansas) would be if the skeptics here would have accommodated Mr. Smith's requests back in the 1970s.

@rawschri 11 месяцев назад

Fred Smith grew up in a house on Audubon Drive, Memphis ... between March 1956 and March 1957 10 houses up on the same side of the road, was Elvis Presley ...

@pam0626 11 месяцев назад

I love CBS Sunday. Excellent reporting.

@tommooreland2231 11 месяцев назад

When it absolutely, positively must be there overnight !

@tobechukwuolumba7337 11 месяцев назад

Absolutely, positively a wonderful story. Thanks so much.

@BaronVonOrvil 11 месяцев назад

True legend, and all around good man, leader and businessman.

@toddnyc1642 11 месяцев назад

Bravo Fred Smith on your Brilliance. and THANK YOU FOR YOUR SERVICE SIR!

@ChrisSMurphy1 11 месяцев назад

American Hero, we need more like him

@USNveteran 11 месяцев назад

Packages also don't need a lavatory, drinks, snacks, or anything else. Loved the OV-10 model in his office. FLY NAVY!!!

@averyhamilton4945 11 месяцев назад

His son is the head coach of the Atlanta Falcons, for those of you who wanted an interesting tidbit.

@Monika-mh2je 11 месяцев назад

Those old school company leaders appreciate and rewards the workers. 👏

@Rhaspun 11 месяцев назад

Instead of having some employee who's looking only at cost and production spreadsheets. It has its place.

@USNveteran 11 месяцев назад

I'm retired from the airline business but also worked air freight but not for Fedex, but wish I had. I would love to take a tour of their Memphis facility sometime though. FLY NAVY!!!

@erikpeterson25 11 месяцев назад

Great story 👏....I remember the start of Fedx and how quickly it took off so to speak

@trob0914 11 месяцев назад

FEDEX and Fred Smith, a true success story! Semper Fi!!

@joylewis2910 10 месяцев назад

As always another fascinating Sunday morning story! Just amazing! It made me think of all the FedEx labels I have filled out over the years at work back in the day before everyone went digital.

@hinthegroove9740 11 месяцев назад

My like’s for Martin’s work, well done.

@Jen-jo5qu 11 месяцев назад

Excellent story. Loving this week's news!

@JT-nu1oi 11 месяцев назад

Outfreaking Standing Semper Fi🇺🇸👍🏼

@saintjames8018 11 месяцев назад

Love Jane. She made the TODAY show; it has never been the same since she departed.

@maureen14 11 месяцев назад

Great man!

@JTC2227 6 месяцев назад

He even played a roll in the Russia Time Scene in Cast Away with Tom Hanks

@keithjohnson5398 11 месяцев назад

I recall reading a bio about the startup of this company, such an interesting start.

@penquinstastelikechicken 11 месяцев назад

I love the way FedEx gets the press and UPS works in the shadows.

@Clintsessentials 11 месяцев назад

Great reporting & stories! 👍😉

@jeanetteschock4744 11 месяцев назад

Amazing

@robertwigchert5988 11 месяцев назад

Fedex was a great company thanks to Fred Smith and I had the pleasure to meet him in 1988, Unfortunately his dream and reality was all thrown away when Raj became the new CEO. Been with Federal Express for 39 years, hard to see it go down.

@Anonymous-gu1bt 11 месяцев назад

Express is merging with Ground, and there's a lot of lay-offs coming. Don't give Fred too much respect.

@pikiwiki 11 месяцев назад

when it absolutely, positively has to be there overnight

@Abraham-uk4xy 11 месяцев назад

He wrote his thesis about this idea. His Professor said it won't work. The lesson never give up.

@Scronnoc 11 месяцев назад

I loved their motto: THE WORLD ON TIME!

@cowboybob7093 11 месяцев назад

I live a thousand miles from Memphis TN. I was waiting for a package of mortgage documents being FedEx'd overnight across town. A tornado hit Memphis that night. The documents were late. "But we're a thousand miles from Memphis!" - Honestly it was okay but it had potential.

@JCNDCIII 11 месяцев назад

Wait. Someone at the bank FedEx'd documents across town? I would have just driven or hired a local courier!

@cowboybob7093 11 месяцев назад

@@JCNDCIII The other part of the story is my car got towed. One of those swoop-in setups where the towing company has a truck on site waiting to enforce. What a day.

@JCNDCIII 11 месяцев назад

@@cowboybob7093 Oh no! That sucks!

@bloatedsodium7301 11 месяцев назад

Thank you, FedEx, for not charging me to pick up a package at the distribution center or at Walgreens. Unlike UPS, they charge $6, amazing.

@shaunfanning9177 11 месяцев назад

Unless your paying for ups my choice premium you shouldn’t be getting charged at all

@blanenoel4231 8 месяцев назад

Gold! This man!

@NicolaW72 11 месяцев назад

Thank you very much for this very interesting Report!

@kokolovitch56 11 месяцев назад

When overnight package company DHL was created in 1969, they focused solely on international, which left the US. wide open, and Fed Ex and UPS jumped in.

@noxiouspro 11 месяцев назад

I like their original logo

@NHLblkgurl 11 месяцев назад

On time is late, and early is on time... My kids hate when I rip off Smiths’s line.

@ChristopherRooney-yw8qf 11 месяцев назад

FedEx Ground Inc is a non-Union facility that doesn't give benefits to full time employees. The company has unfair labor practices and commits wage theft. I was terminated for "workplace violence" which was ridiculous and unsubstantiated. I sued the Company for $2million dollars and was only offered $2500. I will continue to negotiate and probably will go to Court for a monetary settlement. Thanks for letting me share. Take care. God bless everyone. Peace ✌️

@bjvu9460 11 месяцев назад

cry me a river. how did they steal your wages , since you are getting tips and when hired they tell you what your pay is ? I am not saying you dont have an issue with them but anyone can make a claim against anyone else ... Just as you are

@grantm3542 10 месяцев назад

Lol I have full benefits and I only work 2 days a week

@chrismadison305 6 месяцев назад

Fake news.

@jazzyoffwork 11 месяцев назад

Amazing.

@stephaniehale946 11 месяцев назад

*Please interview the current CEO of FedEx. Thank you!*

@oogrooq 11 месяцев назад

Impressive dude.

@nancyamato686 11 месяцев назад

Very commendable! 😊

@_Sisyphus 11 месяцев назад

I was there before and after they implemented the "DADS" unit. 50k employment number.

@lowellcalavera6045 11 месяцев назад

The UPS strike made them.

@dutchholland6928 11 месяцев назад

I find this story “curious” concerning the timing. I’m in the airline industry. FEDEX is hurting so bad right now they’ve stopped Pilot hiring and are phasing out one of their main wide body aircraft to streamline their network. Amazon/Prime is really hurting their product. And then I see CBS doing a promotion story on them. Interesting. Not saying good or bad, just saying it’s interesting. I got one am pro FEDEX, compared to Amazon/Prime FEDEX treats their employees far greater.

@rootpotato 11 месяцев назад

Now all someone has to do is create a courier service that's accountable and has some kind of customer service . . . I don't think FedEx are the worst by any means, but they're still crap.

@marsspacex6065 11 месяцев назад

Didn’t this guy welcome back Tom hanks from that deserted island?

@maryelvis3172 11 месяцев назад

Sometimes you have to fail to succeed, Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest....

@oliviajane269 11 месяцев назад

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.

@Florencecoxx 11 месяцев назад

I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more.

@maryelvis3172 11 месяцев назад

@@Florencecoxx That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin and stocks. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.

@Florencecoxx 11 месяцев назад

@@maryelvis3172 You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe..?

@thamad311 11 месяцев назад

@Queen OF Love Well this not my first time of seeing this name on social platform. A CNBC news host spoke highly of this man and his trading strategies. Do you know him ? if yes , did you invest with him?

@juanito714ok 11 месяцев назад

The USPS was already delivering to every address six days/week when they somehow lost the profitable parcel delivery business to UPS, FedEx and others. Public sector incompetence requires subsidies when it could have been a cash cow.

@fritzbasset8645 11 месяцев назад

The railroads had ALL of the express and LTL/LCL business until the 1950s via Railway Express Agency (REA) but essentially gave it up when regulated passenger trains started losing money vs. government funded freeways and jet airplanes. Big mistake by the railroads in my opinion, Fred, UPS, DHL saw easy pickings and took them. Americans know next to nothing about rail transportation in this country before Amtrak came in 1971. We threw away a great system, as always.

@crafael. 11 месяцев назад

in Malaysia some online seller already offer 4H delivery, 6H delivery and same day delivery. Asia so advanced in online shopping.

@margo3367 11 месяцев назад

Wilson!

@zootmojo 11 месяцев назад

Fred Smith was a DJ at the Yale radio station WYBC, as was I. He did an afternoon MOR program on the FM station, He was pretty good.

@JTC2227 6 месяцев назад

Stronger and more Popular than UPS

@rodneysammons5544 5 месяцев назад

FedEx is Flamboyant, UPS is Brown.

@Larry21924 3 месяца назад

This is absolute perfection. I recently read a similar book, and it was absolute perfection. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight

@beybslifeintheus494 11 месяцев назад

Keep safe good morning

@Bill-cb4bh 9 месяцев назад

Fred is screwing the employees

@49lucky 11 месяцев назад

I worked for USPS and UPS but not FedEx I wonder why😢😢😢😊

@chrismadison305 6 месяцев назад

Fake news.

@jackie299 11 месяцев назад

fedex is the wosrt carrier on the planet. Good job sir, your legacy is me cringing every time i have a fedex delivery.

@MarcusAurelius7777 11 месяцев назад

Only person who ever cared about Memphis...

@nghtwtchmn129 11 месяцев назад

In 2021, WREG News 3 reported that Memphis is the most dangerous city in America.

@bluegrasshack3810 11 месяцев назад

Elvis cared.

@MarcusAurelius7777 11 месяцев назад

@@bluegrasshack3810 OK that's fair. Fred is the LAST wealthy person to care about Memphis.

@bluegrasshack3810 11 месяцев назад

And I should add others who care about Memphis. Singer-actor Danny Thomas and daughter Marlo with their founding and devotion to St. Jude Children’s Research Hospital, also located in Memphis, Tennessee.

@stephenmccollum1391 11 месяцев назад

American Hero

@florencemclaughlin3606 11 месяцев назад

for employees to keep working without a paycheck is a strong testament. Fred must be doing a lot to retain his employees! wish Fred could lead bezos

@AllenHanPR 11 месяцев назад

The fact that this guy is still running it and has his own map in his office. Even though the job is beneath him. He obviously cares about his company. I have a feeling he rewarded the loyal employees big time for sticking with their job when being told to not cash them. This guy vs Jeff Bezos is night and day. Modern CEOs treat their employees like trash.

@charleslewis6815 11 месяцев назад

The greatest most efficient company ever! Amazing!

@gamalbh4364 11 месяцев назад

Dear Fred Smith, I hope this text message finds you well. My name is Jamal Baluchi from Bahrain. I am looking forward working with fedex. I do have a passion for aircraft, especially in cargo. At the moment, I'm a flight manager and a load master on Antonov aircraft. Moreover, I do speak 10 different languages your sincerely Jamal Baluchi from Bahrain 🇧🇭

@cleroyster2610 11 месяцев назад

Wow, CBS failed to mention Ole Fred , was a skull and bones man at Yale with John Kerry and George w. Bush as his friends. It’s hard to believe that he would be successful beyond his wildest dreams.

@buckeyewill2166 11 месяцев назад

Shhh…That’s secrecy.

@dwaynes5983 11 месяцев назад

We know about FedEx. Not deliver 80% of packages. Still waiting for mine for over 3 years. Still angry FedEx lost the Amazon account.

@paradisepipeco 11 месяцев назад

The most fascinating fact to me is that his name is Fred Smith. I always assumed that it was Fred X, for obvious reasons.

@sandyhanson6082 11 месяцев назад

Just realized he played himself in Castaway!

@markp.7165 11 месяцев назад

This is what can be done when a company or a man commits to providing top notch service with the best people he can find who are also willing to commit to those same standards. Too many companies have lost that edge because they are focused on the social issues at the cost of those high standards.

@tomdalton4293 11 месяцев назад

Fed ex is a joke, they have a 500% turnover a year, no commitment to employees, and poor service

@markp.7165 11 месяцев назад

@@tomdalton4293 Well I have a friend who drove a over the road truck for them and is now retired and has a great retirement so it ain't all bad my friend.

@tomdalton4293 11 месяцев назад

@@markp.7165 Yes, if you are a Fed Ex employee driver or a contractor you can do pretty good, FedEx warehouse or working for a contractor is a dead end

@agreeneish 8 месяцев назад

It’s kinda sad these men don’t care about their legacy .. When he retires and walks down the street John Q Public is going to remember him as a guy who made his millions then kicked his loyal/ hard working employees to the curb .. I guess they only care about their legacy in regards to friends and family they helped to make wealthy along the way ..

@mikeymike6179 11 месяцев назад

Over my body boycotting this one

@Look4it25 6 месяцев назад

Please view "stealin&killin" it is so very important.

@christopherrice8432 6 месяцев назад

Who remembers the Quadrack??

@mollari2261 11 месяцев назад

What about the rumor that, in those dark early days of financial losses and employees holding on to their checks, Fred Smith - with nothing else to lose at that point - bet the company payroll on a roulette wheel? (Luckily he won and was able to make FedEx a success, so the story goes.)

@JoeHarkinsHimself 11 месяцев назад

I'm going to post my response to your question in the primary thread. Look for it there.

@wallochdm1 11 месяцев назад

Fred Smith is no friend to his employees.

@SB-eq7dp 27 дней назад

TRUE

@mikewilson9236 11 месяцев назад

Theres alot of politics involved in the companies success That was left out of this story

@rageguy311 11 месяцев назад

No difference between passenger planes and cargos. Only the packages don't complain.... #comparingblsomethingtobeEXACTLYthesamebutrecognizongthedifference

@jimswan3203 11 месяцев назад

He is also the man behind hobbling our postal system. DeMint acted on his will to make the postal service fund pensions 70 years into the future. Thus screwing our postal system over.