FedEx founder Fred Smith: An "overnight" success
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- เผยแพร่เมื่อ 25 ธ.ค. 2024
- 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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Fascinating story. Thank you for sharing his history. A true American hero.
You know CBS Sunday Morning never disappoints, thank you for all the hard work that goes into presenting this stories.
As former Material Handler in OAK hub......we called him Uncle Fred especially around the holidays with OT up for grabs. Nothing but respect for that man.
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.
Thank you for your service crmatlockIII ! I've seen soooooooo much and been in amazing situations. Express Courier 1986-2013.
Good story, I worked FEDERAL EXPRESS / FEDEX I had a lot of confidence in FRED, he's a good man.
Uncle Fred Smith did good. Very proud 😊
FedEx Is The Gold Standard In Shipping And Always Will Be.
FedEx is one of the most reliable companies I have worked with - they just don't disappoint. Thank you, Fred and Crew!
Much respect for this man!
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!
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!
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.
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.
Prof would likely want to reevaluate that grade!
I know. I guess they felt it didn't fit in their story. Maybe they thought that many people already know that story.
At the time, the dominant courier was UPS, which is at its heart a trucking company around since 1907.
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.
@@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.
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.
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.
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.
Thia is only ground though, right? My understanding is express is company drivers.
I was wondering if anybody was going to tell the truth about this company. Kudos to u! 👍🏾
From my understanding, Amazon has been criticized for doing the same thing. Is this common in the delivery/freight/rideshare driver industry?
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".
@@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 ..
Packages also don't need a lavatory, drinks, snacks, or anything else. Loved the OV-10 model in his office. FLY NAVY!!!
Fred Smith is a true innovator from the same space of my own heart❤
Bravo Fred Smith on your Brilliance. and THANK YOU FOR YOUR SERVICE SIR!
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.
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!
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.
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.
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 ...
@@raymondfundora3492 if your kids call you 'Stalin', there must be a reason. Maybe he's a ruthless guy when the camera's off...
When it absolutely, positively must be there overnight !
True legend, and all around good man, leader and businessman.
What a great man.
Never knew about how they paid their low level, part-timer employees; good for him. A lot of CEOs should take note
@@DrVVVinK yeah that's why they stay. the benefits!
Absolutely, positively a wonderful story. Thanks so much.
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 ...
FEDEX and Fred Smith, a true success story! Semper Fi!!
I love CBS Sunday. Excellent reporting.
American Hero, we need more like him
Those old school company leaders appreciate and rewards the workers. 👏
Instead of having some employee who's looking only at cost and production spreadsheets. It has its place.
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!!!
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.
My like’s for Martin’s work, well done.
Excellent story. Loving this week's news!
Great story 👏....I remember the start of Fedx and how quickly it took off so to speak
His son is the head coach of the Atlanta Falcons, for those of you who wanted an interesting tidbit.
Outfreaking Standing
Semper Fi🇺🇸👍🏼
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.
Fedex sucks
skull n bones
Great reporting & stories! 👍😉
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.
I recall reading a bio about the startup of this company, such an interesting start.
I loved their motto: THE WORLD ON TIME!
The greatest most efficient company ever! Amazing!
Love Jane. She made the TODAY show; it has never been the same since she departed.
Great man!
when it absolutely, positively has to be there overnight
Thank you very much for this very interesting Report!
He wrote his thesis about this idea. His Professor said it won't work. The lesson never give up.
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.
Express is merging with Ground, and there's a lot of lay-offs coming. Don't give Fred too much respect.
I love the way FedEx gets the press and UPS works in the shadows.
He even played a roll in the Russia Time Scene in Cast Away with Tom Hanks
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.
Wait. Someone at the bank FedEx'd documents across town? I would have just driven or hired a local courier!
@@DCGuy1997 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.
@@cowboybob7093 Oh no! That sucks!
Gold! This man!
Amazing
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.
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.
Unless your paying for ups my choice premium you shouldn’t be getting charged at all
Impressive dude.
I like their original logo
Un believable Sir's activities.
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.
Amazing.
Very commendable! 😊
On time is late, and early is on time... My kids hate when I rip off Smiths’s line.
*Please interview the current CEO of FedEx. Thank you!*
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 ✌️
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
Lol I have full benefits and I only work 2 days a week
in Malaysia some online seller already offer 4H delivery, 6H delivery and same day delivery. Asia so advanced in online shopping.
Fred Smith a bad man!
I was there before and after they implemented the "DADS" unit. 50k employment number.
The UPS strike made them.
The most fascinating fact to me is that his name is Fred Smith. I always assumed that it was Fred X, for obvious reasons.
Stronger and more Popular than UPS
FedEx is Flamboyant, UPS is Brown.
Fed Ex is going down the toilet. Raj has single handedly ruined it for its employees.
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.
Fed ex is a joke, they have a 500% turnover a year, no commitment to employees, and poor service
@@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.
@@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
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.
Keep safe good morning
American Hero
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.
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.
Only person who ever cared about Memphis...
In 2021, WREG News 3 reported that Memphis is the most dangerous city in America.
Elvis cared.
@@bluegrasshack3810 OK that's fair. Fred is the LAST wealthy person to care about Memphis.
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.
I worked for USPS and UPS but not FedEx I wonder why😢😢😢😊
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
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
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.
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.
Fred is screwing the employees
Didn’t this guy welcome back Tom hanks from that deserted island?
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.
Shhh…That’s secrecy.
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 🇧🇭
All this man did to make this company!..The new CEO.. is shutting down express stations all across the 🇺🇸!..
Fred is still the Executive Chairman. He is the most powerful man at Fedex. He is behind all of the layoffs and shutdowns!
We know about FedEx. Not deliver 80% of packages. Still waiting for mine for over 3 years. Still angry FedEx lost the Amazon account.
Wilson!
Just realized he played himself in Castaway!
Please view "stealin&killin" it is so very important.
Theres alot of politics involved in the companies success That was left out of this story
Over my body boycotting this one
Who remembers the Quadrack??
fedex is the wosrt carrier on the planet. Good job sir, your legacy is me cringing every time i have a fedex delivery.
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.)
I'm going to post my response to your question in the primary thread. Look for it there.
Fred Smith is no friend to his employees.
TRUE
No difference between passenger planes and cargos.
Only the packages don't complain....
#comparingblsomethingtobeEXACTLYthesamebutrecognizongthedifference