FedEx

"Federal Express" redirects here. For the passenger train, see . For the cargo airline, see ."Fed Express" redirects here. For the tennis player with this nickname, see . For the baseball player with this nickname, see .

FedEx CorporationIndustryFounded1971 (as Federal Express Corporation) FounderHeadquarters, Area servedWorldwideKey peopleProducts , , forwarding, Revenue 65.450 billion (2018) US$4.870 billion (2018) US$4.572 billion (2018) US$52.330 billion (2018) US$19.416 billion (2018)Number of employees425,000 (2018), , , , , Custom Critical, Trade Networks, Services, Website FedEx Corporation is an American delivery services company headquartered in , . The name "FedEx" is a of the name of the company's original air division, Federal Express (now ), 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, a feature that has now been implemented by most other carrier services. FedEx is also .

Contents History[] For the history of Federal Express, see . Fedex's first van displayed at the FedEx World HeadquartersThe company was founded in 1971 as Federal Express Corporation by , a graduate of . He drew up the company's concept in a term paper at Yale, in which he called for a system specifically designed for urgent deliveries. While his professor didn't think much of the idea, Smith pressed on. He began formal operations in 1973, when he moved operations to Memphis. Besides its location near the center of the country, almost always stayed open in inclement weather.

The company grew rapidly, and by 1983 had a billion dollars in revenues, a rarity for a startup company that had never taken part in mergers or acquisitions in its first decade. It expanded to Europe and Asia in 1984. In 1988, it acquired one of its major competitors, , creating the largest full-service cargo airline in the world. In 1994, Federal Express shortened its name to "FedEx" for marketing purposes, officially adopting a nickname that had been used for years.

On October 2, 1997, FedEx reorganized as a holding company, FDX Corporation, a corporation. The new holding company began operations in January 1998 with the acquisition of 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, 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 services. 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 to have BA fly a to in Ireland with FedEx packages on board, and then FedEx would have flown the packages to their delivery points in Europe. , a vice president at the time, was in charge of this proposed venture.

A Federal Express in 1995In January 2000, FDX Corporation changed its name to FedEx Corporation and re-branded all of its subsidiaries. Federal Express became FedEx Express, RPS became , 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 and tax information company; TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks.

FedEx Corp. acquired privately held , 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 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 . In September 2004, FedEx acquired Parcel Direct, a parcel consolidator, and re-branded it FedEx SmartPost.

In December 2007, the U.S. "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 (UPS) and the union, accusing its competitor of receiving a in an advertising campaign called "". FedEx claimed that signing the re-authorization bill, which would let some of its workers more easily (and, according to the Memphis-based company, "could expose [its] customers at any time to local that interrupted the flow of their time-sensitive, high-value shipments"), was equivalent to giving UPS a "". Independent observers heavily criticized FedEx's wording, claiming that it was "an abuse of the term". FedEx Express employees are regulated under the .

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. , "FedEx is alleged to have knowingly and intentionally conspired to distribute controlled substances and prescription drugs, including (Schedule III); , , , and (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.

In April 2015, FedEx acquired their rival firm for €4.4 billion ($4.8 billion; £3.2 billion) as it looked to expand their operations in Europe.

In February 2016, FedEx announced the launch of FedEx Cares, a global giving platform, and committed to invest $200 million to strengthen more than 200 communities by 2020.

In March 2018, FedEx announced the acquisition of P2P Mailing Limited, a last-mile delivery service, for £92 million to expand their portfolio.

In September 2018, FedEx expanded FedEx Ground U.S. operations to six days per week due to the rise in demand for e-commerce

In January 2019, FedEx Trade Networks was re-branded to FedEx Logistics.

In May 2019, FedEx announced the expansion of FedEx Ground U.S. operations to seven days per week during the holiday peak season. The service will continue year-round beginning in January 2020 for the majority of the U.S. population.

On June 1, 2019, the authorities in China filed a case against FedEx for allegedly undermining the rights of Chinese clients. The investigation stemmed from allegations by that FedEx attempted to divert the shipping route of its packages without the company's prior authorization. which in turn have been denied by FedEx. It has been reported that FedEx refused to deliver a used phone into the US. Writers at tried to ship a from a UK office to a US one to find it sent back a few days later.

In June 2019, FedEx announced they would not be renewing their $850 million contract with Amazon for the company's U.S. domestic express delivery business. Amazon accounted for 1.3 percent of 2018 revenues. In August 2019, FedEx announced the termination of ground deliveries for Amazon as well.

In July 2019, China accused FedEx of holding back more than 100 packages that Huawei was trying to deliver to China. The Chinese state media said that the company committed "violations" when it diverted Huawei parcels.

Finances[] 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 list of the largest United States corporations by total revenue. In June, 2019, investor Michael Burry of Scion Asset Management (from "The Big Short") reported taking a position in the company.

YearRevenue in mil. USD$Net income in mil. USD$Total Assets in mil. USD$Price per Share in USD$Employees200529,3631,44920,40483.40200632,2941,80622,690101.69200735,2142,01624,000100.12200837,9531,12525,63376.1432009 35,4979824,24459.52201034,7341,18424,90280.69201139,3041,45227,38582.21201242,6802,03229,90386.05201344,2872,71633,567106.25 281,000201445,5672,32433,070144.80269,900201547,4531,05036,531161.10166,000201650,3651,82045,959159.36168,000201760,3192,99748,552 205.60169,000201865,4504,57252,330244.53227,000201969,6934,46654,403222.94239,000Operating units and logos[] The FedEx logo is a 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 between the "E" and the "X", which was achieved by designing a proprietary font, based on and , to emphasize the arrow shape. Previously, the Ex was in a different color for each and platinum for the overall corporation use. However, in August 2016, FedEx announced that all operating units will adopt the purple and orange color logo over the next five years (the same as the original FedEx logo, and later used by FedEx Express).

FedEx Express landing in on August 11, 2010 FedEx Ground delivery van FedEx Freight in FedEx Vehicle in , central FedEx is divided into the following operating units:

SCAC codes[] The is a unique code used to identify transportation companies. It is typically two to four alphabetic letters long. It was developed by the in the 1960s to help the transportation industry for computerizing data and records. FedEx's codes include:

Political donations and lobbying[] According to the , FedEx Corp is the 79th largest campaign 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. 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 . In 2001, FedEx sealed a $9 billion deal with the to transport all of the post office's overnight and express deliveries.

In 2005, FedEx was among 53 entities that contributed the maximum of $250,000 to sponsor the second inauguration of President .

During the 2018 calendar year, FedEx spent nearly $10.2 million the , its lowest total since 2008 but more than any other company in the air transport industry.

Tax avoidance[] In December 2019, listed FedEx along with 378 additional companies that "paid an effective federal tax rate of 0% or less" as a result of the . 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 year (effective tax rate of 0%) as a result of lobbying done by the company.

Awards and honors[] The firm was named by magazine as one of the top 100 companies to work for in 2013, citing the company's choice to downsize with voluntary buyouts rather than involuntary layoffs.

Advertising[] Some of FedEx's ad campaigns:

John Moschitta ad[] in In 1981, their advertising firm hired performer , 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 as one of the most memorable ads ever.

Motorsports[] The FedEx-sponsored No. 11 car at the , driven by Football[] Other sports[] See also[] References[] External links[] Wikimedia Commons has media related to .Members of components companies of the [//en.wikipedia.org/wiki/Special:CentralAutoLogin/start?type=1x1] Retrieved from "": Hidden categories: US: FedEx to rehire 2 black employees after viral video

US: FedEx to rehire 2 black employees after viral video

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