FedEx founder Fred Smith, who was also a U.S. Marine Corps veteran, died Saturday at the age of 80.
The company that was started in the early 1970s became much relied on and now averages 17 million shipments per business day, the Associated Press (AP) reported Sunday.
In its infancy, FedEx delivered small packages and documents faster than the postal service.
Smith, who made his home in Memphis, Tennessee, where the company is based, was born in Marks, Mississippi, on August 11, 1944, per the Daily Memphian.
“The inspiration for FedEx came to Smith when he was a student at Yale University. He wrote a paper about overnight, reliable delivery in the digital age. His professor was not impressed and he received a C on the paper,” the article explained.
However, that apparently did not stop him from moving forward because FedEx’s operations are now all over the globe.
The Memphian noted that “FedEx’s growth has transformed Memphis. Its planes are ubiquitous over the city’s skies. The sprawl of the distribution centers that rely on the company has reshaped the region’s built landscape.” The report added that it employs thousands of people and “thousands of retirees rely on the company’s stock and dividends to pay for their way of life.”
It is interesting to note that FedEx also played a prominent role in the 2000 Tom Hanks movie, Cast Away.
Per the AP article, “Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured.”
Smith served his country as a Marine with two tours in Vietnam and earned two Purple Hearts and a Silver Star before founding his business. His time in the military had a profound influence on his business career.
In comments regarding his passing, Memphis Mayor Paul Young said in part, “Fred Smith was more than a business leader — he was a visionary whose ideas reshaped not only the global economy but the very identity of Memphis.”
“Fred’s innovative spirit challenged all of us to think bigger. To dream beyond the limits. To imagine what’s possible, and then deliver it. In many ways, he gave our city wings. FedEx has brought jobs, investment, and international recognition to Memphis, and Fred’s impact is woven into the fabric of who we are today. On behalf of the city of Memphis, I offer our deepest condolences to the Smith family and the entire FedEx community. Fred Smith was a legend in every sense of the word, and his legacy will continue to move Memphis, and the world, forward,” he added.
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