FedEx
FedEx Corporation, formerly Federal Express Corporation and later FDX Corporation, is an American multinational conglomerate holding company focused on transportation, e-commerce and business services based in Memphis, Tennessee.[5][6] The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express, which was used from 1973 until 2000. FedEx today is best known for its air delivery service, FedEx Express, which was one of the first major shipping companies to offer overnight delivery as a flagship service. Since then, FedEx also started FedEx Ground, FedEx Office (originally known as Kinko's), FedEx Supply Chain, FedEx Freight, and various other services across multiple subsidiaries, often meant to respond to its main competitor, UPS. The company is the fifth largest American-headquartered employer globally with 547,000 employees, and FedEx is also one of the top contractors of the US government and assists in the transport of some United States Postal Service packages through their Air Cargo Network contract.[7]
| FDX | |
| Formerly |
|
| Type | Public company |
| ISIN | US31428X1063 |
| Industry | |
| Founded | May 5, 1971 in Little Rock, Arkansas |
| Founder | Frederick W. Smith |
| Headquarters | 942 S Shady Grove Rd, , US |
Number of locations | 1,950 FedEx locations (2020) |
Area served | Worldwide |
Key people | Frederick W.Smith (Executive Chairman) Raj Subramaniam (President and CEO) |
| Services | |
| Revenue | US$93.512 billion (2022) |
| US$6.245 billion (2022) | |
| US$3.826 billion (2022) | |
| Total assets | US$85.994 billion (2022) |
| Total equity | US$24.939 billion (2022) |
Number of employees | 547,000 (May 2022) |
| Subsidiaries |
|
| Website | www |
| Footnotes / references [1][2][3][4] | |
FedEx's prominence in both the United States and the world have made it a common topic in popular culture, with examples including the film Cast Away as well as some of its marketing slogans (most famously "when it absolutely positively has to be there overnight"). In addition, FedEx has purchased the naming rights to FedExField of the NFL's Washington Commanders and FedExForum of the NBA's Memphis Grizzlies. FedEx's air shipping services have made its "Superhub" at Memphis International Airport the busiest cargo airport in the world by 2020.
History
Foundation and early history
The company was founded in Little Rock, Arkansas in 1971 as Federal Express Corporation by Frederick W. Smith, a graduate of Yale University. 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. Smith said he chose Memphis International Airport for being near the mean population center of the country and for its placid weather.[8]
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, Flying Tiger Line, 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.[8]
Reorganization and Caliber acquisition
On October 2, 1997, FedEx reorganized as a holding company, FDX Corporation, a Delaware corporation.[9] The new holding company began operations in January 1998, with the acquisition of Caliber System Inc. 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, less-than-truckload 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.[8]
In January 2000, FDX Corporation changed its name to FedEx Corporation and re-branded all of its subsidiaries. Federal Express became FedEx Express, RPS became FedEx Ground, 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 customs duty and tax information company; TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks.[8]
21st century
FedEx Corp. acquired privately held Kinko's, 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.[8] 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 FedEx Office.[10][11] In September 2004, FedEx acquired Parcel Direct, a parcel consolidator, and re-branded it FedEx SmartPost.[8]
In April 2015, FedEx acquired their rival firm TNT Express for €4.4 billion ($4.8 billion; £3.2 billion) as it looked to expand their operations in Europe.[12][13]
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.[14][15]
In March 2018, FedEx announced the acquisition of P2P Mailing Limited, a last-mile delivery service, for £92 million to expand their portfolio.[16]
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.[17] In August 2019, FedEx announced the termination of ground deliveries for Amazon as well.[18]
In December 2020, FedEx acquired ShopRunner, an e-commerce platform.[19]
On March 29, 2022, founder Frederick W. Smith announced he would be retiring as CEO and become executive chairman effective June 1, 2022. The company named Raj Subramaniam, FedEx's current president and COO, as Smith's successor.[20][21]
Operating units
FedEx Corporation divides its business into the following main operating units:
FedEx Express
FedEx Express is the company's original overnight courier services, providing next day air service within the US and time-definite international service. It operates one of the largest civil aircraft fleets in the world, has the largest fleet of wide bodied civil aircraft, and carries more freight than any other airline.[22] Included in this unit are:
- Caribbean Transport Services: Until 2008, part of FedEx Freight. Provides airfreight forwarding services between the US mainland, Puerto Rico, and other Caribbean destinations.
- TNT Express: Formerly an independent international courier delivery company headquartered in Hoofddorp, Netherlands, now a subsidiary of FedEx. It has fully owned operations in 61 countries, and delivers documents, parcels and freight to over two hundred countries.
- FedEx Custom Critical: Delivers urgent, valuable, or hazardous items using trucks and chartered aircraft.[23] Drivers are independent owner/operators and services in Mexico use interline carriers. Formerly Roberts Express, a subsidiary of Caliber System.
- FedEx Cross Border: Provides information services, compliance management, and currency conversion services for cross-border retailers. Formerly Bongo International.
FedEx Ground
FedEx Ground provides day-definite mail and package delivery to commercial locations in the US and Canada and residential locations in Canada. Its services are cheaper than the time-definite services offered by FedEx Express. The company was formerly Roadway Package System (RPS), a division of Caliber System.[8] The unit also includes:
- FedEx Home Delivery: Provides domestic residential delivery services on an expanded schedule better suited to personal deliveries. Operates only in the US, residential deliveries in Canada are provided by FedEx Ground. The service's logo includes a drawing of a dog carrying a package.[24]
- FedEx Ground Economy (formerly FedEx SmartPost): Consolidates parcels from merchants such as e-commerce and catalog companies, transports them in bulk between its hubs, and uses FedEx Ground or Home Delivery for final mile delivery. Formerly Parcel Direct, a subsidiary of catalog publisher Quad Graphics, acquired by FedEx in 2004.[25]
FedEx Freight
FedEx Freight is the largest less-than-truckload (LTL) freight carrier in the US, reporting US$8.9 billion in revenue for 2021,[26] and operates LTL and other freight services in the US and Canada. The unit was formed in 2002 when FedEx bought regional US LTL carrier American Freightways (AF) and established FedEx Freight as a parent company for AF, renamed FedEx Freight East, and FedEx's existing regional LTL subsidiary, Viking Freight, renamed FedEx Freight West. Viking had been a Caliber subsidiary when Caliber was acquired by FedEx in 1998. FedEx bought Lakeland, Florida-based national LTL carrier Watkins Motor Lines in 2006 and renamed it FedEx National LTL. All three operated as an independent subsidiaries of FedEx Freight[27] until January 2010 when they were merged with their parent to form a single entity, FedEx Freight Inc.[28] The unit is the parent of:
- FedEx Freight Canada: Formerly Watkins Canada Express, the Canadian services of Watkins Motor Lines.
FedEx Logistics
FedEx Logistics provides supply chain, specialty transportation, cross border e-commerce, customs brokerage, and trade management technology and services. The division was known as FedEx Trade Networks until January 2019[29] and is composed of a number of FedEx acquisitions as well as the operations of former Caliber subsidiaries Caliber Logistics and Caliber Technology. Divisions include:
- FedEx Air and Ocean Cargo Networks: International air and ocean freight forwarding. Formerly C.J. Tower & Sons, TowerGroup International Inc. (acquired by FedEx in 2000), and FedEx Trade Networks Transport & Brokerage, Inc.
- FedEx Customs Brokerage: Customs and international trade compliance services. Formerly World Tariff, Ltd. (acquired by FedEx in 2000) and FedEx Trade Networks Trade Services, Inc.
- FedEx Forward Depots: Critical inventory and service parts logistics. Also includes the TechConnect business equipment repair and refurbishment facilities, 3-D printing services, and the FedEx Packaging Lab.
- FedEx Supply Chain: Third-party logistics including transportation management, warehousing, fulfillment, and returns. Formerly GENCO.
FedEx Services
FedEx Services provides corporate services to other FedEx operating companies. Specifically, all marketing, sales, pricing, data analytics, forecasting, finance, customer service, information technology, and their respective organizations (and cost centers) reside inside FedEx Services. Customer facing transportation services and support managed by teams within FedEx Services include:
- FedEx Customer Relations: Operates customer service and customer support operations for other FedEx units including Express, Ground, Freight, and Office. Also manages customer operations at staffed locations, manages FedEx drop boxes, and provides internal corporate services. Formerly FedEx Customer Information Services (FCIS).
- FedEx Delivery Manager: Desktop and web software used by FedEx clients to create, track, and manage shipments.
- FedEx Express package services: Overnight and deferred small package transportation services (time definite services).
- FedEx Express Freight services: Overnight and deferred palletized freight transportation services (time definite services).
- FedEx Ground package services: Day definite ground based small package transportation services.
- FedEx Freight transportation services: Day definite ground based freight transportation services.
- FedEx Express International package services: Day definite air based small package transportation services.
- FedEx Express International freight services: Day definite air based palletized freight transportation services.
- FedEx.com online website support: Maintenance and development of all online assets owned by FedEx.
FedEx Dataworks
A spin-off of FedEx Services, FedEx Dataworks is the youngest of FedEx's Operating Companies.[30] Their first product was Surround,[31] a software based on proactive monitoring and intervention controls across a delivery network whose first use was used in tracking critical shipments of COVID-19 vaccines.
FedEx Office
FedEx Office is the retail arm of the corporation offering print and photocopy services, business services including signage and marketing, and retail sales of FedEx shipping services. The unit also includes FedEx SameDay City, a same-day delivery service. FedEx Office was formerly an independent company, Kinko's, until it was acquired by FedEx in 2004 and rebranded FedEx Kinko's. It was again rebranded in June 2008 becoming FedEx Office.[32] Its divisions include:
- FedEx Office Print and Ship Centers: Successor to the original Kinko's operations. Also provide FedEx Hold at Location services, where a package can be delivered to and held at a FedEx Office location for later pickup by the receiver. FedEx Office also operates its own courier network for location to location and local delivery. Includes some locations previously called FedEx World Service Centers which predated FedEx's Kinko's acquisition.
- FedEx SameDay City: Same-day delivery courier providing Standard, pickup by noon and delivered by end of day, and Priority, delivery within two hours, services.
Competitors
FedEx's primary competitor in the United States and most of its international destinations is United Parcel Service (UPS). Both companies employ generally similar strategies; both companies' largest hubs for its air delivery are in the southern United States (Memphis for FedEx and Louisville for UPS), both offer overnight, 2-day, and ground delivery as default options, both frequently use Ted Stevens Anchorage International Airport for trans-pacific shipments,[33] and both of their main hubs are some of the world's busiest airports by cargo traffic. FedEx's other main competitor is the United States Postal Service (USPS), as USPS offers an overnight service (Priority Mail Express), a 2-5 day service (Priority Mail), and an economy/ground service (First Class, Parcel Select Ground). To a lesser extent in the US, FedEx competes with SF Express and DHL, and while DHL's market share in the United States is rising, the shipping industry (not including USPS) in the United States is primarily dominated by UPS and FedEx; DHL is only a strong competitor to FedEx outside of the United States.[34]
Amazon, with its airline Amazon Air, its fleet of trucks, vans and ships and its worldwide staff of more than 1.4 million, plans to become the largest delivery service in the U.S.A.[35][36]
Corporate identity
Logo
The FedEx logo is a wordmark designed in 1994 by Lindon Leader of Landor Associates, of San Francisco.[37] It consists of Fed in purple and Ex in orange. The FedEx wordmark is notable for containing a subliminal right-pointing arrow in the negative space between the "E" and the "X", which was achieved by designing a proprietary font, based on Univers and Futura, to emphasize the arrow shape.[37] Leader believed the logo promoted FedEx as "getting from point A to point B reliably with speed and precision".[38]
| Unit | Color |
|---|---|
| FedEx Express | Orange |
| FedEx Custom Critical | Blue then Red |
| FedEx Ground | Green |
| FedEx Freight | Red |
| FedEx Logistics | Platinum |
| FedEx Services | Platinum |
| FedEx Office | Blue |
| FedEx SameDay City | Platinum |
In the early 2000s, the Ex was in a different color for each division and platinum for the overall corporation use. However, in August 2016, FedEx announced that all operating units would 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).[39]
Advertising
FedEx advertising slogans have included:[40][41]
- "When it Absolutely, Positively has to be there overnight" – 1978–1983
- "It's not Just a Package, It's Your Business" – 1987–1988
- "Our Most Important Package is Yours" – 1991–1994
- "Absolutely, Positively Anytime" – 1995
- "The Way the World Works," 1996–1998
- "Be Absolutely Sure," 1998–2000
- "This is a Job for FedEx," 2001–2002
- "Don’t worry, there's a FedEx for that,” 2002–2003
- "Relax, it’s FedEx," 2004–2008
- "The World On Time" 2001–present
- "We Understand," 2009–present
- "We Live To Deliver" 2009–present
- "Where now meets next" 2021–present
In 1981, FedEx's advertising firm Ally & Gargano hired performer John Moschitta, Jr., known for his fast speech delivery, to do an ad for Federal Express titled "Fast Paced World". This single commercial was cited years later by New York as one of the most memorable ads ever.[42]
Sponsorships
Motorsports
- From 1997 to 2002, FedEx was the title sponsor of Champ Car World Series when it was known as CART. The series was known as the "CART FedEx Championship Series", which led to the official "Champ Car" designation in reference to the fact they were the FedEx Championship.
- FedEx is the sponsor of the No. 11 NASCAR Cup Series Toyota, owned by Joe Gibbs Racing since 2005. The car has been driven by Denny Hamlin since 2006.
- FedEx previously sponsored the Formula One teams Benetton (1996–1999), Ferrari (1999–2001), Williams F1 (2002–2006), and McLaren (2007–2008).
Football
- From 1989 to 2010, FedEx was the title sponsor of the Orange Bowl, played in Miami, Florida.[43]
- FedEx Field, home of the National Football League's Washington Commanders in Landover, Maryland[44]
Other sports
- FedEx sponsors FedExForum, home of the NBA's Memphis Grizzlies and the University of Memphis men's basketball team.[45]
- FedEx sponsors the Heineken Cup in rugby for the European markets only.[46]
- Beginning in 2007, FedEx became the title sponsor of the FedEx Cup, a championship trophy for the PGA Tour.[47]
- The WGC-Fedex St. Jude Invitational, a PGA Tour golf tournament and one of the four World Golf Championships held in Memphis, has been sponsored by FedEx from 1986 to 2006, in 2009, and currently since 2011.[citation needed]
- FedEx was the main sponsor of the UEFA Europa League since the 2015–21 cycle outside of the U.S. and Canadian markets.
- FedEx becomes the main global sponsors of the UEFA Champions League and the UEFA Super Cup, UEFA Youth League and the UEFA Futsal Champions League starting in the 2021–24 cycle.[48]
Reputation
The firm was named by Fortune 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.[49]
Corporate affairs
Board of directors
As of April 2022[update], the FedEx Corporation board of directors is:[50]
- Marvin Ellison: Chairman, president and CEO, Lowe’s Companies, Inc.
- Tricia Griffith: President and CEO, The Progressive Corporation
- Kimberly A. Jabal: Former CFO, Unity Technologies
- Shirley Ann Jackson: President, Rensselaer Polytechnic Institute
- R. Brad Martin: Chairman, RBM Ventures
- Fred Perpall: CEO, The Beck Group
- Joshua Cooper Ramo: Chairman and CEO, Sornay LLC
- Susan Schwab: Professor Emerita, University of Maryland School of Public Policy
- Frederick W. Smith: Founder and Executive Chairman, FedEx Corporation
- David P. Steiner: Former CEO, Waste Management, Inc.
- Raj Subramaniam: President and CEO, FedEx Corporation
- Paul S. Walsh: Executive chairman, McLaren Group Limited
Finance
For the fiscal year 2020, FedEx reported earnings of US$1.286 billion, with an annual revenue of US$69.217 billion, a decline of 0.7% over the previous fiscal cycle. FedEx's shares traded at over $273 per share, and its market capitalization was valued at over US$2,459 billion in December 2020.[51] FedEx ranked No. 50 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.[52]
| Year | Revenue in mil. USD$ | Net income in mil. USD$ | Total Assets in mil. USD$ | Price per Share in USD$ | Employees |
|---|---|---|---|---|---|
| 2005 | 29,363 | 1,449 | 20,404 | 90.25 | 138,100 |
| 2006 | 32,294 | 1,806 | 22,690 | 109.67 | 138,400 |
| 2007 | 35,214 | 2,016 | 24,000 | 107.61 | 143,000 |
| 2008 | 37,953 | 1,125 | 25,633 | 81.50 | 145,000 |
| 2009 | 35,497 | 98 | 24,244 | 63.18 | 140,000 |
| 2010 | 34,734 | 1,184 | 24,902 | 85.15 | 141,000 |
| 2011 | 39,304 | 1,452 | 27,385 | 86.29 | 143,000 |
| 2012 | 42,680 | 2,032 | 29,903 | 89.74 | 149,000 |
| 2013 | 44,287 | 2,716 | 33,567 | 110.13 | 160,700 |
| 2014 | 45,567 | 2,324 | 33,070 | 149.32 | 162,000 |
| 2015 | 47,453 | 1,050 | 36,531 | 165.33 | 166,000 |
| 2016 | 50,365 | 1,820 | 45,959 | 162.31 | 168,000 |
| 2017 | 60,319 | 2,997 | 48,552 | 207.57 | 169,000 |
| 2018 | 65,450 | 4,572 | 52,330 | 238.46 | 227,000 |
| 2019 | 69,693 | 540 | 54,403 | 166.65 | 239,000 |
| 2020 | 69,217 | 1,286 | 73,537 | 184.60 | 245,000 |
Environmental practices and initiatives
In early March 2021, FedEx announced plans to make its operations carbon-neutral by 2040.[53] It's investing $2 billion in sustainable energy initiatives, including $100M for a new Yale Center for Natural Carbon Capture and upgrading its aircraft and ground transportation fleets.[54] It will be the first customer to take delivery of GM's electric Zevo delivery vans, as part of the goal of an all-electric ground fleet by 2040.[55]
FedEx's initiatives to be carbon-neutral by 2040 will allow them to reduce their negative contributions to climate change drastically, however they may fall short of this goal. As mentioned in their 2021 10-K filling,[56] they are at risk of being unable to achieve being carbon neutral by 2040 due to potential inability to execute the business operations as planned. Such risks are the costs associated with vehicle electrification and renewable energies. Additionally, the pace at which research and technological developments occur at pose a threat to FedEx's goal.
Success of Current Environmental Practices
FedEx's current practices have allowed them to avoid several amounts of emissions. Their current fleet of electric vehicles and more efficient delivery routes have avoided roughly 950,000 metric tons of carbon dioxide emissions. Additionally, through the FedEx Fuel Sense program, FedEx was able to save about 221 million gallons of fuel and avoided nearly 2 million metric tons of carbon dioxide.[57]
Political donations and lobbying
According to OpenSecrets, FedEx Corp is the 174th largest campaign contributor in the United States, having donated over $35.96 million to federal candidates and committees since 1990, 37% of which went to Democrats and 63% to Republicans.[58] 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 United States Postal Service. In 2001, FedEx sealed a $9 billion deal with the USPS 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 George W. Bush.[59][60][61]
During the 2018 calendar year, FedEx spent nearly $10.2 million lobbying the federal government,[62] its lowest total since 2008 but more than any other company in the air transport industry.[63]
SCAC codes
The Standard Carrier Alpha Code (SCAC) is a unique code used to identify transportation companies. It is typically two to four alphabetic letters long. It was developed by the National Motor Freight Traffic Association in the 1960s to help the transportation industry for computerizing data and records. FedEx's codes include:
- FXE – FedEx Express
- FXSP – FedEx SmartPost
- FXG – FedEx Ground
- FXFE – FedEx Freight
- FDCC – FedEx Custom Critical
- FXO – FedEx Office
- FSDC – FedEx Same Day City
Controversies and incidents
Labor relations
In December 2007, the U.S. Internal Revenue Service "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.[64]
In June 2009, FedEx began a campaign against UPS and the Teamsters union, accusing its competitor of receiving a bailout in an advertising campaign called "Brown Bailout". FedEx claimed that signing the Federal Aviation Administration re-authorization bill, which would let some of its workers unionize more easily (and, according to the Memphis-based company, "could expose [its] customers at any time to local work stoppages that interrupted the flow of their time-sensitive, high-value shipments"),[65] was equivalent to giving UPS a "bailout". Independent observers heavily criticized FedEx's wording,[65] claiming that it was "an abuse of the term".[65] FedEx Express employees are regulated under the Railway Labor Act.[66]
In July 2020, the Air Line Pilots Association International (ALPA), the union that represents FedEx Corp pilots, called for a suspension on the company's Hong Kong operations. According to the union, some members were subject to "extremely difficult conditions" at hospitals urged by government mandates due to the COVID-19 pandemic.[67] FedEx was criticized more broadly for providing inadequate protections and sick leave during the pandemic.[68]
Allegations of controlled substances distribution
On July 17, 2014, FedEx was indicted for conspiracy to distribute controlled substances in cooperation with the Chhabra-Smoley Organization and Superior Drugs.[69] According to the U.S. Department of Justice, "FedEx is alleged to have knowingly and intentionally conspired to distribute controlled substances and prescription drugs, including Phendimetrazine (Schedule III); Ambien, Phentermine, Diazepam, and Alprazolam (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."[70] 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".[71] 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.[72][73][74]
Illegal parking criticism
Safe streets activists have criticized FedEx, along with other parcel delivery services, for frequently illegally parking their vehicles in bike lanes while making deliveries, a practice that endangers cyclists.[75][76][77] They were criticized alongside peers in a letter from Washington, D.C.'s transportation agency in 2018.[78]
Criticism of NRA partnership
FedEx was criticized for its partnership with the National Rifle Association, which it terminated in 2018 under pressure from activists.[79]
Huawei package delivery dispute
On June 1, 2019, China filed a case against FedEx for allegedly undermining the rights of Chinese clients.[80] The investigation stemmed from allegations by Huawei that FedEx attempted to divert the shipping route of its packages without the company's prior authorization[81][82][83]— allegations which have been denied by FedEx.[81][82] It has been reported that FedEx refused to deliver a used Huawei phone into the US. Writers at PC Magazine tried to ship a Huawei P30 from a UK office to a US one to find it sent back a few days later.[84][85]
In July 2019, China accused FedEx of holding back more than 100 packages that Huawei was trying to deliver to China. Chinese regulators said that the company committed "violations" when it diverted Huawei parcels.[86]
Allegations of tax avoidance
In December 2019, CNBC listed FedEx along with 378 additional Fortune 500 companies that "paid an effective federal tax rate of 0% or less" as a result of the Tax Cuts and Jobs Act of 2017.[87] The New York Times 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.[88]
Mass shooting at Indianapolis facility
A FedEx Ground facility was the site of a mass shooting in Indianapolis on April 15, 2021, causing nine deaths (including the perpetrator) and at least 6 injuries. FedEx released a statement early the next morning, saying they were "deeply saddened" by the loss of their team members.[89]
References
- ^ "Inline XBRL Viewer". sec.gov. from the original on September 11, 2022. Retrieved September 11, 2022.
- ^ "Company structure & facts". from the original on August 18, 2021. Retrieved August 17, 2021.
- ^ "FedEx Corporation 2021 Annual Report" (PDF). s21.q4cdn.com. May 31, 2021. (PDF) from the original on October 21, 2021. Retrieved October 12, 2021.
- ^ "FedEx Corporation (FDX) Company Profile, News, Rankings". fortune.com. from the original on September 11, 2022. Retrieved September 11, 2022.
- ^ (PDF). News.Van.FedEx.com. FedEx. Archived from the original (PDF) on July 19, 2008. Retrieved February 28, 2010.
- ^ "FedEx (FDX)". Forbes. from the original on September 15, 2021. Retrieved September 13, 2021.
- ^ "Postal Service & FedEx renew contract". USPS. from the original on January 11, 2022. Retrieved January 11, 2022.
- ^ a b c d e f g "FedEx history". FedEx. from the original on August 19, 2021. Retrieved April 19, 2022.
- ^ Delaware Department of State, Division of Corporations, Online Services July 21, 2011, at the Wayback Machine; File No. 2803030.
- ^ " The Marketing Doctor Says: FedEx Does It Again!" June 5, 2009, at the Wayback Machine Marketing Doctor Blog. June 3, 2008.
- ^ Business Week. June 3, 2008.
- ^ "FedEx to buy rival TNT Express for €4.4bn". BBC News. April 7, 2015. from the original on July 12, 2020. Retrieved June 21, 2018.
- ^ "FedEx to buy Dutch Delivery Company TNT for 4.4 billion euros". news.biharprabha.com. Reuters. April 8, 2015. from the original on April 11, 2015. Retrieved April 8, 2015.
- ^ . About FedEx. Archived from the original on November 17, 2019. Retrieved May 30, 2019.
- ^ Candid. "FedEx Launches $200 Million Giving Initiative". Philanthropy News Digest (PND). from the original on September 19, 2020. Retrieved May 30, 2019.
- ^ "FedEx Expanding E-Commerce Capabilities with Acquisition of P2P". investors.fedex.com. from the original on September 19, 2020. Retrieved May 30, 2019.
- ^ Albert-Deitch, Cameron (June 10, 2019). "Amazon's Vendor Purge and FedEx Cancellation Prove 1 Thing: Startups Need to Watch Out". Inc. from the original on September 25, 2020. Retrieved June 10, 2019.
- ^ "FedEx to end ground delivery business with Amazon". news.yahoo.com. from the original on July 31, 2020. Retrieved August 8, 2019.
- ^ "FedEx completes acquisition of ShopRunner to bolster e-commerce". Bizjournal. December 28, 2020. from the original on December 31, 2020. Retrieved February 7, 2021.
- ^ Watts, Micaela A. (March 28, 2022). "FedEx founder Fred Smith to step down as CEO; Raj Subramaniam to succeed him". The Commercial Appeal. from the original on March 31, 2022. Retrieved April 1, 2022.
- ^ "FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith". CNBC. March 28, 2022. from the original on March 29, 2022. Retrieved March 29, 2022.
- ^ . International Air Transport Association. 2006. Archived from the original on January 30, 2010.
- ^ "FedEx Custom Critical Solutions". from the original on September 20, 2013. Retrieved September 18, 2013.
- ^ fedex service info – u.s. – home delivery July 31, 2020, at the Wayback Machine. Fedex.com. Retrieved on July 11, 2011.
- ^ "Current Report Sept 2004, Inc 2004 Current Report, Form 8-K, Filing Date Sept 22, 2004". secdatabase.com. from the original on May 15, 2013. Retrieved December 26, 2012.
- ^ Cassidy, William B (March 8, 2022). "JOC Rankings: Higher rates lead to unprecedented US LTL revenue gains". Journal of Commerce. from the original on April 14, 2022. Retrieved April 13, 2022.
- ^ "FedEx buys Watkins Motor Lines". FreightWaves. American Shipper. May 29, 2006. from the original on August 11, 2021. Retrieved April 13, 2022.
- ^ Malone, Scott (September 17, 2010). "Market falls as FedEx fails to deliver". Ottawa Citizen. p. E2. from the original on August 27, 2021. Retrieved April 13, 2022 – via Newspapers.com.
- ^ . FedEx (Press release). Archived from the original on July 4, 2019. Retrieved May 30, 2019.
- ^ "FedEx Works to Monetize Their Big Data". Forbes. from the original on June 10, 2022. Retrieved June 10, 2022.
- ^ "FedEx and Microsoft join forces to transform commerce". from the original on June 26, 2022. Retrieved June 10, 2022.
- ^ FedEx Office | About FedEx July 22, 2011, at the Wayback Machine. About.fedex.designcdt.com. Retrieved on July 11, 2011.
- ^ Archived at Ghostarchive and the : How Overnight Shipping Works, retrieved March 13, 2021
- ^ Batabyal, Mithu (July 21, 2014). "Despite Optimism, FedEx Corporation Faces Challenges". The Motley Fool. from the original on November 24, 2020. Retrieved March 13, 2021.
- ^ Archived at [1]: Amazon to Take Top Package Delivery Spot From Rivals FedEx, USPS, UPS, November 29, 2021, retrieved January 29, 2022
- ^ Archived at Ghostarchive and the : How Amazon's Super-Complex Shipping System Works, retrieved March 13, 2021
- ^ a b The Sneeze: The Man Behind the FedEx Logo February 4, 2012, at the Wayback Machine, November 16, 2004
- ^ Jacopo Prisco. "Follow the arrow: Hidden designs in famous logos". CNN. from the original on February 14, 2021. Retrieved February 14, 2021.
- ^ Birkner, Christine (August 24, 2016). . ADWEEK. Archived from the original on February 16, 2017.
{{cite web}}: CS1 maint: unfit URL (link) - ^ "Federal Express Corporation". trademarkia.com. Trademarkia. from the original on March 6, 2016. Retrieved February 22, 2016.
- ^ Gyanin, Noah (January 22, 2015). "Infographic: Evolution of Slogans". Noah Gyanin. from the original on February 26, 2021. Retrieved March 4, 2021.
- ^ "TV Acres Advertising Mascots". Archived from the original on November 19, 2012. Retrieved September 18, 2008.
- ^ Ourand, John; Smith, Michael; Lefton, Terry (May 3, 2010). "FedEx Name will Come off Orange Bowl". Sports Business Journal. Retrieved January 6, 2020.[permanent dead link]
- ^ Marketing and Advertising | About FedEx July 22, 2011, at the Wayback Machine. About.fedex.designcdt.com. Retrieved on July 11, 2011.
- ^ "FedEx Forum". athleticbusiness.com. Athletic Business. from the original on March 3, 2016. Retrieved February 22, 2016.
- ^ . FedEx.com. May 24, 2014. Archived from the original on April 2, 2015. Retrieved March 30, 2015.
- ^ "Prepare thoroughly. Commit totally. Deliver". FedEx. FedEx. from the original on March 3, 2016. Retrieved February 22, 2016.
- ^ "FedEx Becomes Official Sponsor of the UEFA Champions League" (Press release). FedEx. from the original on September 15, 2021. Retrieved September 15, 2021.
- ^ "100 Best Companies to Work For 2013 – FedEx Corporation – Fortune". CNN. from the original on September 20, 2020. Retrieved August 3, 2020.
- ^ "Board of directors". investors.fedex.com. from the original on December 22, 2021. Retrieved April 6, 2022.
- ^ "FedEx – FedEx – Annual Reports". investors.fedex.com. from the original on September 19, 2020. Retrieved November 7, 2018.
- ^ . Fortune. Archived from the original on November 10, 2018. Retrieved November 10, 2018.
- ^ "FedEx pledges $2 billion toward carbon-neutral operations by 2040, aims for all-electric fleet". www.msn.com. from the original on July 4, 2021. Retrieved March 3, 2021.
- ^ Szymkowski, Sean. "FedEx pledges to go carbon-neutral by 2040 with EV delivery vans and more". Roadshow. from the original on March 3, 2021. Retrieved March 3, 2021.
- ^ Gitlin, Jonathan M. (January 12, 2021). "FedEx will be the first customer for GM's new electric delivery van". Ars Technica. from the original on March 2, 2021. Retrieved March 3, 2021.
- ^ "SEC filings | FedEx". investors.fedex.com. from the original on October 18, 2022. Retrieved November 1, 2022.
- ^ importer (July 11, 2014). "FedEx Fuel Sense: Every Drop Counts". U.S. Chamber of Commerce Foundation. from the original on October 21, 2022. Retrieved November 1, 2022.
- ^ . OpenSecrets.org. United States: OpenSecrets. 2020. Archived from the original on December 30, 2019. Retrieved January 2, 2020.
- ^ Drinkard, Jim (January 17, 2005). "Donors get good seats, great access this week". USA Today. from the original on June 28, 2012. Retrieved May 25, 2008.
- ^ "Financing the inauguration". USA Today. January 16, 2005. from the original on June 28, 2012. Retrieved May 25, 2008.
- ^ "Some question inaugural's multi-million price tag". USA Today. January 14, 2005. from the original on June 28, 2012. Retrieved May 25, 2008.
- ^ . OpenSecrets.org. United States: OpenSecrets. 2020. Archived from the original on March 8, 2021. Retrieved January 2, 2020.
- ^ . OpenSecrets.org. United States: OpenSecrets. 2020. Archived from the original on March 8, 2021. Retrieved January 2, 2020.
- ^ Ron Da Parma (December 27, 2007). . Pittsburgh Tribune-Review. Archived from the original on December 26, 2007. Retrieved January 3, 2008.
- ^ a b c 'Brown Bailout?' Hardly June 19, 2010, at the Wayback Machine, FactCheck.org
- ^ . Fleetowner.com. Archived from the original on June 16, 2010. Retrieved June 16, 2010.
- ^ Reuters Staff (July 29, 2020). "FedEx pilots, union call on company to suspend Hong Kong operations". Reuters. from the original on September 14, 2020. Retrieved September 15, 2020.
{{cite news}}:|last=has generic name (help) - ^ Abrams, Rachel; Silver-Greenberg, Jessica (March 21, 2020). "'Terrified' Package Delivery Employees Are Going to Work Sick". The New York Times. from the original on February 18, 2021. Retrieved January 9, 2021.
- ^ Moyer, Justin (July 18, 2014). "FedEx indicted for drug dealing. Not a delivery guy — the whole company". The Washington Post. from the original on July 16, 2017. Retrieved August 27, 2017.
- ^ . U.S. Department of Justice. July 17, 2014. Archived from the original on November 20, 2014. Retrieved November 22, 2020.
- ^ Elias, Paul. "FedEx charges raise online pharmacy issues". Yahoo. from the original on July 29, 2014. Retrieved August 2, 2014.
- ^ "A trial accusing FedEx of knowingly shipping illegal prescription drugs just ended suddenly". Business Insider. from the original on August 26, 2016. Retrieved August 24, 2016.
- ^ Beckerman, Josh (June 20, 2016). "FedEx: Justice Department Dismisses Charges Over Online Pharmacy Shipments". The Wall Street Journal. ISSN 0099-9660. from the original on August 24, 2016. Retrieved August 24, 2016.
- ^ "Feds Drop Charges Claiming FedEx Knowingly Trafficked Illegal Prescription Drugs". Fortune. June 20, 2016. from the original on August 23, 2016. Retrieved August 24, 2016.
- ^ Haag, Matthew; Hu, Winnie (October 27, 2019). "1.5 Million Packages a Day: The Internet Brings Chaos to N.Y. Streets (Published 2019)". The New York Times. from the original on January 28, 2021. Retrieved January 9, 2021.
- ^ Sachs, David (March 5, 2018). "FedEx, UPS Don't Seem to Care About Blocking Denver Bike Lanes. What Can Be Done?". Streetsblog Denver. from the original on January 23, 2021. Retrieved January 9, 2021.
- ^ Meyer, David (August 1, 2018). "Just Another Day in New York City's Perpetually Blocked Bike Lanes". Streetsblog New York City. from the original on February 8, 2021. Retrieved January 9, 2021.
- ^ Giambrone, Andrew (November 5, 2018). "Don't park in bike lanes, D.C. officials tell major mail carriers". Curbed DC. from the original on January 11, 2021. Retrieved January 9, 2021.
- ^ Hsu, Tiffany (October 30, 2018). "FedEx Ends Deal for N.R.A. but Says It's Not Because of Pittsburgh Shooting (Published 2018)". The New York Times. from the original on January 11, 2021. Retrieved January 9, 2021.
- ^ Kimball, Spencer. "Beijing to investigate FedEx for 'damaging rights of Chinese clients' amid Huawei dispute". CNBC. from the original on June 1, 2019. Retrieved June 1, 2019.
- ^ a b "Exclusive: Huawei reviewing FedEx relationship, says packages..." Reuters. May 28, 2019. from the original on May 30, 2019. Retrieved May 28, 2019.
- ^ a b Sabur, Rozina (May 28, 2019). "Huawei reviewing ties with FedEx after two packers were 'diverted to America'". The Telegraph. ISSN 0307-1235. from the original on May 29, 2019. Retrieved May 29, 2019.
- ^ "Huawei accuses FedEx of diverting documents to the US". Engadget. from the original on May 29, 2019. Retrieved May 29, 2019.
- ^ Brandom, Russell (June 21, 2019). "FedEx refused to deliver a Huawei phone into the US". The Verge. from the original on June 22, 2019. Retrieved June 22, 2019.
- ^ Segan, Sascha; Smith, Adam (June 21, 2019). "FedEx Refused to Ship Our Huawei Phone". PC Magazine. Ziff Davis. from the original on June 21, 2019. Retrieved June 22, 2019.
- ^ "Chinese officials suspect FedEx held back over 100 Huawei packages". CNN. July 26, 2019. from the original on July 26, 2019. Retrieved July 26, 2019.
- ^ Pound, Jesse (December 16, 2019). "These 91 companies paid no federal taxes in 2018". CNBC. from the original on June 10, 2021. Retrieved February 11, 2020.
- ^ Tankersley, Jim; Eavis, Peter; Casselman, Ben (November 17, 2019). "How FedEx Cut Its Tax Bill to $0". The New York Times. from the original on November 30, 2019. Retrieved February 20, 2020.
- ^ "FedEx Statement Regarding Indianapolis Shooting". FedEx Newsroom. from the original on April 16, 2021. Retrieved April 16, 2021.
External links
- Media related to FedEx at Wikimedia Commons
- Official website
- Business data for FedEx:
- SEC filings
- Yahoo!