miércoles, 15 de junio de 2011

History of Frederick Smith

Frederick Smith was born in Marks Mississippi on August 11, 1944 and became the billionaire founder of FedEx. FedEx, originally known as Federal Express was the first express delivery overnight in the world and is now the largest company in the United States. FedEx headquarters is in Memphis, Tennessee and Smith currently serves as Chairman, President and CEO of the company.

From a very young Smith expressed a strong interest in flying and so he trained to become an amateur pilot as a teenager. He went to the Presbyterian Primary School and the University of Memphis. In 1962 he moved to Yale University, where he became friends with George W Bush and John Kerry. In an economics class that wrote an article for a service plan next day delivery. In this work became the inspiration for FedEx.
In 1966 she earned a degree in economics. After graduation he joined a. Corps U.S. Navy and served four years as a platoon leader and forward air controller (FAC). His time in the Navy allowed him to observe the logistics system and see the procurement and delivery.
In 1970 bought the controlling interest in an aircraft maintenance company called Ark Aviation Sales. In 1971 it had changed its business objective to trade in used aircraft. On June 18, 1971 Smith founded Federal Express to the $ 4 million he inherited from his father, who was the founder of the restaurant chain Toddle House and Coach Smith Motor Company which was renamed later, the Dixie Greyhound Lines, when it was bought by the Greyhound Corporation in 1931. This amount of money has a value of $ 21 million in 2008 dollars. He managed to raise $ 91 million in venture capital (about $ 484 million dollar 2008).
In 1973 the company was offering its services to 25 cities and used a fleet of 14 aircraft Falcon 20. In 1980 they were offering their services to 90 cities and by 1983 had reached $ 1 billion in sales.

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