FedEx founder Fred Smith: An 'overnight' success

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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[christopheralexander]

As former Material Handler in OAK called him Uncle Fred especially around the holidays with OT up for grabs. Nothing but respect for that man.

[HHH-yero]

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

[crmatlockIII]

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.

[nickpacal]

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

[FollowTheJohn]

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.

[bluegrasshack]

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!

[jimprior]

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

[marksme]

Uncle Fred Smith did good. Very proud 😊

[projectkj]

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

[jojopuppyfish]

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.

[donm]

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.

[jimtewa]

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

[meloneymoore]

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

[marknc]

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.

[duaneraymond]

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.

[aguerra]

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]

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.

[Rocks_Dad]

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.

[BaronVonOrvil]

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

[USNveteran]

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