| • Science | • People | • Locations | • Timeline |
The company was founded in 1971 by former U.S. Marine Frederick W. Smith in Memphis, Tennessee, and began operations in 1973. The name was chosen to symbolize a national marketplace, and help in obtaining government contracts. The company, the first cargo airline to use jet airplanes for its services, expanded greatly after the deregulationDeregulation is the process by which governments remove selected regulations on business in order to (in theory) encourage the efficient operation of markets. The theory is that fewer regulations will lead to a raised level of competitivness, therefore hi of the cargo airlines sector. FedEx pioneered use of the spoke-hub distribution paradigmThe Spoke-hub distribution paradigm derives its name from a bicycle wheel, which consists of a number of spokes jutting outward from a central hub. In the abstract sense, a location is selected to be a hub, and the paths that lead from points of origin an in air freight , which enabled it to become a world leader in its field. The company operates most of its USThe United States of America also referred to as the United States U. America ¹ or the States is a federal republic in central North America, stretching from the Atlantic in the east to the Pacific Ocean in the west. It shares land borders with Canada in overnight freight through its Memphis hubIn general, a hub is a central node in a network. The term comes from the analogy to a wheel's hub, which is the center of the wheel with spokes radiating out from it. An airline hub is an airport that serves as the base of operations for that airline, us; thus packages from one side of your town to another might find the fastest way via Memphis. In 19891989 is a common year starting on Sunday (click on link for calendar). Events January January 7 Akihito becomes Emperor of Japan following the death of Hirohito. The Heisei period begins January 8 the Kegworth Air Disaster A British Midland Boeing 737 cra the company acquired Flying TigersFlying Tiger Line also known as Flying Tigers was the first scheduled cargo airline in the United States and a major passenger charter operator during the Cold War era. The airline was named after the Flying Tigers volunteer fighter unit of World War II., an international cargo airline. In January 19981998 was a common year starting on Thursday (see link for calendar), and was designated the International Year of the Ocean''. Events January January 1998 A massive ice storm, caused by El Nino, strikes New England, southern Ontario and Quebec, resulting Federal Express acquired Caliber System, Inc , which owned RPS, Roberts Express , Viking Freight and Caliber Logistics . It later purchased American Freightways . When these companies combined, the new organization became known as FDX Corp . In 2000, FDX Corporation changed its name to FedEx Corporation.
In February, 2004, FedEx bought Kinko's , an American chain that has some 1,200 stores that provide document copying and printing services, for $2.4 billion.
In its advertising, the company made famous the line "Absolutely, Positively" for their overnight service.
Major competitors include DHL, UPS, and USPS.