FedEx
{{short description|American freight and package delivery company}}
{{Redirect|Federal Express|the former train line|Federal Express (train)}}
{{Multiple issues|
{{Lead rewrite|date=July 2024}}
{{POV|date=July 2024}}
}}
{{Use mdy dates|date=April 2018}}
{{Infobox company
| name = FedEx Corporation
| logo = FedEx Corporation - 2016 Logo.svg
| logo_size = 250px
| image = FedEx - Federal Express McDonnell Douglas DC-10-30(F) N319FE (cn 47820-317) (4196174034).jpg
| image_size = 250px
| image_caption = A FedEx McDonnell Douglas DC-10, with a FedEx delivery truck in the foreground.
| trade_name = FedEx
| former_name = {{ubl|class=nowrap|Federal Express Corporation{{wbr}}{{nbsp}}(1971–1997)|FDX Corporation{{wbr}}{{nbsp}}(1997–2000)}}
| type = Public company
| traded_as = {{ubl|{{NYSE|FDX}}|DJTA component|S&P 100 component|S&P 500 component}}
| ISIN = {{ISIN|sl=n|pl=y|US31428X1063}}
| founded = {{start date and age|1971|5|5}} in Little Rock, Arkansas, U.S.
| founder = Frederick W. Smith
| hq_location =
| hq_location_city = Memphis, Tennessee
| hq_location_country = U.S.
| num_locations = 2,000 FedEx locations
| num_locations_year = 2024
| area_served = Worldwide
| key_people = {{ubl|Frederick W. Smith (executive chairman)|Raj Subramaniam (president & CEO)}}
| industry = {{Ubl|E-commerce|Services|Transportation}}
| services = {{Ubl|Business services|Express delivery|Freight transportation|Logistics services}}
| revenue = {{decrease}} {{US$|87.69 billion|link=yes}} (2024)
| operating_income = {{increase}} US$5.559 billion (2024)
| net_income = {{increase}} US$4.331 billion (2024)
| assets = {{decrease}} US$87.01 billion (2024)
| equity = {{increase}} US$27.58 billion (2024)
| num_employees = 505,000 (2024)
| subsid = {{Ubl|FedEx Custom Critical|FedEx Express| FedEx Freight |FedEx Ground|FedEx Logistics|FedEx Office|FedEx Services|FedEx Supply Chain|FedEx Trade Networks}}
| website = {{url|https://www.fedex.com/|fedex.com}}
| footnotes = {{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1048911/000095017024083577/fdx-20240531.htm |title=FY 2024 Annual Report (Form 10-K) |publisher=U.S. Securities and Exchange Commission |date=July 15, 2024 |access-date=July 20, 2024}}{{Cite web|url=https://www.fedex.com/en-us/about/company-structure.html|title=Company structure & facts|access-date=August 17, 2021|archive-date=August 18, 2021|archive-url=https://web.archive.org/web/20210818165835/https://www.fedex.com/en-us/about/company-structure.html|url-status=live}}
}}
FedEx Corporation, originally known as Federal Express Corporation, is an American multinational conglomerate holding company specializing in transportation, e-commerce, and business services.{{Cite web |title=FedEx in Memphis |url=http://news.van.fedex.com/files/FedEx%20in%20Memphis.pdf |archive-url=https://web.archive.org/web/20080719222318/http://news.van.fedex.com/files/FedEx%20in%20Memphis.pdf |archive-date=July 19, 2008 |access-date=February 28, 2010 |website=News.Van.FedEx.com |publisher=FedEx}}{{Cite web |title=FedEx (FDX) |url=https://www.forbes.com/companies/fedex/ |url-status=live |archive-url=https://web.archive.org/web/20210915051431/https://www.forbes.com/companies/fedex/ |archive-date=September 15, 2021 |access-date=2021-09-13 |website=Forbes |language=en}} The company is headquartered in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of its original air division, Federal Express, which operated under this name from 1973 until 1994.{{Cite web |last=Brett |first=Damian |date=2023-11-03 |title=Top 20 Cargo Airports: Hong Kong leads the way in a tough 2022 |url=https://www.aircargonews.net/monthly-exclusive/top-20-cargo-airports-hong-kong-leads-the-way-in-a-tough-2022/ |access-date=2024-03-16 |website=Air Cargo News |language=en}}
FedEx is best known for its air delivery service, FedEx Express, which pioneered overnight delivery as its flagship service. Over the years, the company has expanded its operations to include FedEx Ground, FedEx Office, FedEx Supply Chain, FedEx Freight, and several other services through a network of subsidiaries. These expansions have often been strategic moves to compete with its primary rival, UPS.
The company’s air shipping operations are centralized at its primary hub at Memphis International Airport, making it a critical hub for global logistics.
History
= Foundation and early history =
File:First FedEx van Memphis TN 2013-05-17 002.jpg
{{For|history prior to its 1997 reorganization|FedEx Express}}
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,{{citation needed|date=July 2024}} 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.
The company grew rapidly, and by 1983 had a billion dollars in revenue, a rarity for a startup company that had never taken part in mergers or acquisitions in its first decade.{{citation needed|date=July 2024}} 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.
= Reorganization and Caliber acquisition =
File:FEDEX MD-11F(AF) (N612FE48605555).jpg at Narita International Airport in 1995]]
On October 2, 1997, FedEx reorganized as a holding company, FDX Corporation, a Delaware corporation.Delaware Department of State, Division of Corporations, [https://delecorp.delaware.gov/tin/controller Online Services] {{webarchive |url=https://web.archive.org/web/20110721035421/https://delecorp.delaware.gov/tin/controller |date=July 21, 2011 }}; File No. 2803030. 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.
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.
= 21st century =
File:FedEx Truck Downtown Miami (25706470807).jpg in Miami]]
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. 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.[http://blog.marketingdoctor.tv/2008/06/03/marketing-101-fed-ex.aspx " The Marketing Doctor Says: FedEx Does It Again!"] {{Webarchive|url=https://web.archive.org/web/20090605025342/http://blog.marketingdoctor.tv/2008/06/03/marketing-101-fed-ex.aspx |date=June 5, 2009 }} Marketing Doctor Blog. June 3, 2008.{{cite web |author1=Ernest Beck |title=FedEx Ditches Kinko's |url=http://www.businessweek.com/innovate/content/jun2008/id2008069_075908.htm |website=Business Week |publisher=The McGraw-Hill Companies |access-date=20 June 2023 |archive-url=https://web.archive.org/web/20080612233204/http://www.businessweek.com/innovate/content/jun2008/id2008069_075908.htm |archive-date=June 12, 2008 |language=en-US |date=June 9, 2008 |url-status=dead}} In September 2004, FedEx acquired Parcel Direct, a parcel consolidator, and re-branded it FedEx SmartPost.
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.{{Cite news |date=April 7, 2015 |title=FedEx to buy rival TNT Express for €4.4bn |work=BBC News |url=https://www.bbc.co.uk/news/business-32200600 |access-date=June 21, 2018 |archive-date=July 12, 2020 |archive-url=https://web.archive.org/web/20200712025200/https://www.bbc.co.uk/news/business-32200600 |url-status=live }}{{Cite news |date=April 8, 2015 |title=FedEx to buy Dutch Delivery Company TNT for 4.4 billion euros |publisher=news.biharprabha.com |agency=Reuters |url=http://news.biharprabha.com/2015/04/fedex-to-buy-dutch-delivery-company-tnt-for-4-4-billion-euros/ |access-date=April 8, 2015 |archive-date=April 11, 2015 |archive-url=https://web.archive.org/web/20150411033330/http://news.biharprabha.com/2015/04/fedex-to-buy-dutch-delivery-company-tnt-for-4-4-billion-euros/ |url-status=live }}
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.{{Cite web |title=Timeline |url=https://about.van.fedex.com/our-story/history-timeline/timeline/ |access-date=2019-05-30 |website=About FedEx |archive-date=November 17, 2019 |archive-url=https://web.archive.org/web/20191117193513/https://about.van.fedex.com/our-story/history-timeline/timeline/ |url-status=dead }}{{Cite web |last=Candid |title=FedEx Launches $200 Million Giving Initiative |url=http://philanthropynewsdigest.org/news/fedex-launches-200-million-giving-initiative |access-date=2019-05-30 |website=Philanthropy News Digest (PND) |archive-date=September 19, 2020 |archive-url=https://web.archive.org/web/20200919161456/http://philanthropynewsdigest.org/news/fedex-launches-200-million-giving-initiative |url-status=live }}
In March 2018, FedEx announced the acquisition of P2P Mailing Limited, a last-mile delivery service, for £92 million to expand their portfolio.{{Cite web |title=FedEx Expanding E-Commerce Capabilities with Acquisition of P2P |url=http://investors.fedex.com/news-and-events/investor-news/news-release-details/2018/FedEx-Expanding-E-Commerce-Capabilities-with-Acquisition-of-P2P/default.aspx |access-date=2019-05-30 |website=investors.fedex.com |archive-date=September 19, 2020 |archive-url=https://web.archive.org/web/20200919084456/http://investors.fedex.com/news-and-events/investor-news/news-release-details/2018/FedEx-Expanding-E-Commerce-Capabilities-with-Acquisition-of-P2P/default.aspx |url-status=live }}
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.{{Cite news |last=Albert-Deitch |first=Cameron |date=2019-06-10 |title=Amazon's Vendor Purge and FedEx Cancellation Prove 1 Thing: Startups Need to Watch Out |work=Inc. |url=https://www.inc.com/cameron-albert-deitch/amazon-fedex-vendor-purge-startups.html |access-date=2019-06-10 |archive-date=September 25, 2020 |archive-url=https://web.archive.org/web/20200925164502/https://www.inc.com/cameron-albert-deitch/amazon-fedex-vendor-purge-startups.html |url-status=live }} In August 2019, FedEx announced the termination of ground deliveries for Amazon as well.{{Cite web |title=FedEx to end ground delivery business with Amazon |url=https://news.yahoo.com/fedex-severs-ties-amazon-135119289.html |access-date=2019-08-08 |website=news.yahoo.com |date=August 7, 2019 |archive-date=July 31, 2020 |archive-url=https://web.archive.org/web/20200731131008/https://news.yahoo.com/fedex-severs-ties-amazon-135119289.html |url-status=live }}
In December 2020, FedEx acquired ShopRunner, an e-commerce platform.{{Cite web |date=December 28, 2020 |title=FedEx completes acquisition of ShopRunner to bolster e-commerce |url=https://www.bizjournals.com/memphis/news/2020/12/28/fedex-completes-acquisition-shoprunner.html |publisher=Bizjournal |access-date=February 7, 2021 |archive-date=December 31, 2020 |archive-url=https://web.archive.org/web/20201231021753/https://www.bizjournals.com/memphis/news/2020/12/28/fedex-completes-acquisition-shoprunner.html |url-status=live }}
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.{{cite news |last1=Watts |first1=Micaela A. |title=FedEx founder Fred Smith to step down as CEO; Raj Subramaniam to succeed him |url=https://www.commercialappeal.com/story/money/industries/logistics/2022/03/28/fedex-fred-smith-ceo-raj-subramaniam/4455316001/ |access-date=1 April 2022 |work=The Commercial Appeal |date=March 28, 2022 |archive-date=March 31, 2022 |archive-url=https://web.archive.org/web/20220331045437/https://www.commercialappeal.com/story/money/industries/logistics/2022/03/28/fedex-fred-smith-ceo-raj-subramaniam/4455316001/ |url-status=live }}{{Cite web |date=2022-03-28 |title=FedEx names Raj Subramaniam as CEO, replacing founder Fred Smith |url=https://www.cnbc.com/2022/03/28/fedex-names-raj-subramaniam-as-ceo-replacing-founder-frederick-smith.html |access-date=2022-03-29 |website=CNBC |language=en |archive-date=March 29, 2022 |archive-url=https://web.archive.org/web/20220329144846/https://www.cnbc.com/2022/03/28/fedex-names-raj-subramaniam-as-ceo-replacing-founder-frederick-smith.html |url-status=live }}
=Proposed spin-off of freight truck business=
On December 19, 2024, FedEx announced that it would spin-off its freight truck division as a separate publicly-traded company as part of a major corporate restructuring, scheduled to be completed within 2025. The spun-off freight truck company will retain the FedEx Freight name.{{cite web|url=https://newsroom.fedex.com/newsroom/global-english/fedex-announces-intent-to-separate-fedex-freight-creating-two-industry-leading-public-companies|title=FedEx Announces Intent to Separate FedEx Freight, Creating Two Industry-Leading Public Companies|date=2024-12-19|access-date=2024-12-27|work=FedEx}}
Operating units
FedEx Corporation divides its business into the following main operating units:
= FedEx Express =
File:04162016 FedEx B777F N861FD PANC NASEDIT2 (43991806764).jpg]]
File:TNT electric van .jpg in Europe]]
{{Main|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.{{Cite web |year=2006 |title=WATS Scheduled Freight Tonne – Kilometres |url=http://www.iata.org/ps/publications/wats-freight-km.htm |url-status=dead |archive-url=https://web.archive.org/web/20100130014458/http://www.iata.org/ps/publications/wats-freight-km.htm |archive-date=January 30, 2010 |publisher=International Air Transport Association |df=mdy-all}} 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.{{Cite web |title=FedEx Custom Critical Solutions |url=http://customcritical.fedex.com/ |access-date=September 18, 2013 |archive-date=September 20, 2013 |archive-url=https://web.archive.org/web/20130920122701/http://customcritical.fedex.com/ |url-status=live }} 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 =
File:FedEx Ground delivery truck Navistar.jpg delivery truck]]
{{Main|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.{{Cite web |title=FedEx history |url=https://www.fedex.com/en-us/about/history.html |access-date=April 19, 2022 |website=FedEx |archive-date=August 19, 2021 |archive-url=https://web.archive.org/web/20210819040055/https://www.fedex.com/en-us/about/history.html |url-status=live }} 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.[http://fedex.com/us/services/us/homedelivery/index.html fedex service info – u.s. – home delivery] {{Webarchive|url=https://web.archive.org/web/20200731070640/http://www.fedex.com/us/services/us/homedelivery/index.html |date=July 31, 2020 }}. Fedex.com. Retrieved on July 11, 2011.
- 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.{{Cite web |title=Current Report Sept 2004, Inc 2004 Current Report, Form 8-K, Filing Date Sept 22, 2004 |url=http://edgar.secdatabase.com/1289/110465904028198/filing-main.htm |access-date=December 26, 2012 |publisher=secdatabase.com |archive-date=May 15, 2013 |archive-url=https://web.archive.org/web/20130515015657/http://edgar.secdatabase.com/1289/110465904028198/filing-main.htm |url-status=live }}
= FedEx Freight =
File:FedEx Freight - Detroit (49525266082).jpg
File:FEDEX Freight (8915186339).jpg in Las Vegas]]
FedEx Freight is the largest less-than-truckload (LTL) freight carrier in the US, reporting {{USD|8.9 billion}} in revenue for 2021,{{Cite news |last=Cassidy |first=William B |date=March 8, 2022 |title=JOC Rankings: Higher rates lead to unprecedented US LTL revenue gains |work=Journal of Commerce |url=https://www.joc.com/trucking-logistics/joc-rankings-higher-rates-lead-unprecedented-us-ltl-revenue-gains_20220308.html |access-date=April 13, 2022 |archive-date=April 14, 2022 |archive-url=https://web.archive.org/web/20220414005350/https://www.joc.com/trucking-logistics/joc-rankings-higher-rates-lead-unprecedented-us-ltl-revenue-gains_20220308.html |url-status=live }} 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{{Cite web |date=May 29, 2006 |title=FedEx buys Watkins Motor Lines |url=https://www.freightwaves.com/news/fedex-buys-watkins-motor-lines |url-status=live |archive-url=https://web.archive.org/web/20210811225041/https://www.freightwaves.com/news/fedex-buys-watkins-motor-lines |archive-date=August 11, 2021 |access-date=April 13, 2022 |website=FreightWaves |publisher=American Shipper}} until January 2010 when they were merged with their parent to form a single entity, FedEx Freight Inc.{{Cite news |last=Malone |first=Scott |date=September 17, 2010 |title=Market falls as FedEx fails to deliver |page=E2 |work=Ottawa Citizen |url=https://www.newspapers.com/clip/84244359/ |access-date=April 13, 2022 |via=Newspapers.com |archive-date=August 27, 2021 |archive-url=https://web.archive.org/web/20210827214610/https://www.newspapers.com/clip/84244359/the-ottawa-citizen/ |url-status=live }} 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{{Cite press release |title=FedEx Trade Networks Rebrands as FedEx Logistics |url=https://about.van.fedex.com/newsroom/fedex-trade-networks-rebrands-as-fedex-logistics/ |access-date=2019-05-30 |website=FedEx |archive-date=July 4, 2019 |archive-url=https://web.archive.org/web/20190704025921/https://about.van.fedex.com/newsroom/fedex-trade-networks-rebrands-as-fedex-logistics/ |url-status=dead }} 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 Office =
{{Main|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 included 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.[http://about.fedex.designcdt.com/our_company/company_information/fedex_services/fedex_kinkos FedEx Office | About FedEx] {{Webarchive|url=https://web.archive.org/web/20110722071521/http://about.fedex.designcdt.com/our_company/company_information/fedex_services/fedex_kinkos |date=July 22, 2011 }}. About.fedex.designcdt.com. Retrieved on July 11, 2011. 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. Discontinued in 2023.{{cite web | url=https://www.dropoff.com/blog/fedex-shuts-down-same-day-delivery-what-to-expect/ | title=FedEx Shuts Down Same-Day Delivery: What to Expect | date=February 10, 2023 }}
Fleet
FedEx operates many different types of vehicles to deliver packages. They operate planes, trucks, vans and drones. According to the FedEx website, the company has over 210,000 motorized vehicles.{{Cite news |last1=Butler |first1=Desmond |last2=Mufson |first2=Steven |date=2021-03-07 |title=Can the market save the planet? FedEx is the latest brand-name firm to say it's trying. |url=https://www.washingtonpost.com/climate-environment/2021/03/05/more-than-50-companies-have-vowed-be-carbon-neutral-by-2040/ |access-date=2024-03-16 |newspaper=Washington Post |language=en-US |issn=0190-8286}}
File:FedEx - Federal Express McDonnell Douglas DC-10-30(F) N319FE (cn 47820-317) (4196174034).jpg|FedEx McDonnell Douglas DC-10
File:FedEx Truck.jpg|A FedEx truck in the United States
File:FedEx van in Tomaszów Mazowiecki, Poland.jpg|A FedEx van in Poland
File:FedEx Express truck.jpg|An older FedEx truck
File:FedEx lorry, Tomaszów Mazowiecki town in Łódź Voivodeship, Poland.jpg|A FedEx truck in Poland
File:Hannover Airport FedEx Express Boeing 757-236(SF) N910FD (DSC07454).jpg|A FedEx Boeing 757 at Hannover Airport
File:The FedEX depot on Tranby Road - geograph.org.uk - 3745143.jpg|FedEx truck at a FedEx depot in the UK
File:FedEx Express Mercedes Sprinter Memphis TN 2012 07 17 016.jpg|A FedEx Mercedes Sprinter in Memphis, TN
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,Archived at [https://ghostarchive.org/varchive/youtube/20211211/y3qfeoqErtY Ghostarchive]{{cbignore}} and the [https://web.archive.org/web/20180213153325/https://www.youtube.com/watch?v=y3qfeoqErtY&gl=US&hl=en Wayback Machine]{{cbignore}}: {{Citation|title=How Overnight Shipping Works| date=February 13, 2018 |url=https://www.youtube.com/watch?v=y3qfeoqErtY|language=en|access-date=2021-03-13}}{{cbignore}} 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.{{Cite web|last=Batabyal|first=Mithu|date=2014-07-21|title=Despite Optimism, FedEx Corporation Faces Challenges|url=https://www.fool.com/investing/general/2014/07/21/despite-optimism-fedex-corporation-faces-challenge.aspx|access-date=2021-03-13|website=The Motley Fool|language=en|archive-date=November 24, 2020|archive-url=https://web.archive.org/web/20201124130748/https://www.fool.com/investing/general/2014/07/21/despite-optimism-fedex-corporation-faces-challenge.aspx|url-status=live}}
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.Archived at [https://www.pymnts.com/amazon-delivery/2021/amazon-take-top-package-delivery-spot-rivals-fedex-usps-ups/]{{cbignore}}: {{Citation |title=Amazon to Take Top Package Delivery Spot From Rivals FedEx, USPS, UPS |date=November 29, 2021 |url=https://www.pymnts.com/amazon-delivery/2021/amazon-take-top-package-delivery-spot-rivals-fedex-usps-ups/ |access-date=2022-01-29 |language=en}}{{cbignore}}Archived at [https://ghostarchive.org/varchive/youtube/20211211/2qanMpnYsjk Ghostarchive]{{cbignore}} and the [https://web.archive.org/web/20210112164559/https://www.youtube.com/watch?v=2qanMpnYsjk Wayback Machine]{{cbignore}}: {{Citation|title=How Amazon's Super-Complex Shipping System Works| date=January 12, 2021 |url=https://www.youtube.com/watch?v=2qanMpnYsjk|language=en|access-date=2021-03-13}}{{cbignore}}
Corporate identity
= Logo =
File:FedEx Ground - 2016 Logo.svg
The FedEx logo is a wordmark designed in 1994 by Lindon Leader of Landor Associates, of San Francisco.[http://www.thesneeze.com/mt-archives/000273.php The Sneeze: The Man Behind the FedEx Logo] {{Webarchive|url=https://web.archive.org/web/20120204071413/http://www.thesneeze.com/mt-archives/000273.php |date=February 4, 2012 }}, November 16, 2004 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 typeface, based on Univers and Futura, to emphasize the arrow shape. Leader believed the logo promoted FedEx as "getting from point A to point B reliably with speed and precision".{{Cite web |last=Jacopo Prisco |title=Follow the arrow: Hidden designs in famous logos |url=https://www.cnn.com/style/article/hidden-designs-famous-logos/index.html |access-date=2021-02-14 |website=CNN |date=March 13, 2018 |language=en |archive-date=February 14, 2021 |archive-url=https://web.archive.org/web/20210214165025/https://www.cnn.com/style/article/hidden-designs-famous-logos/index.html |url-status=live }}
class="wikitable floatright" style="text-align: center"
|+ Former logo Ex color by operating unit |
Unit
! Color |
---|
style="text-align: left; border-style: solid solid none solid;" | FedEx Express
| Orange |
style="text-align: left" | FedEx Custom Critical
| Blue then Red |
style="text-align: left" | FedEx Ground
| Green |
style="text-align: left" | FedEx Freight
| Red |
style="text-align: left" | FedEx Logistics
| Platinum |
style="text-align: left" | FedEx Services
| Platinum |
style="text-align: left" | FedEx Office
| Blue |
style="text-align: left" | 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).{{Cite web |last=Birkner |first=Christine |date=24 August 2016 |title=FedEx Is Making All of Its Logos Purple and Orange, Its Most Recognized Color Scheme |url=https://www.adweek.com/brand-marketing/why-fedex-consolidating-its-color-scheme-173130/ |archive-url=https://web.archive.org/web/20170216205816/http://www.adweek.com:80/brand-marketing/why-fedex-consolidating-its-color-scheme-173130/ |archive-date=February 16, 2017 |url-status=unfit |website=ADWEEK}}File:FedEx 727 N467FE Fairbanks (Quintin Soloviev).jpg Boeing 727 parked at Fairbanks International Airport. It was donated to the University of Alaska Fairbanks]]
= In popular culture =
For the Cast Away film, FedEx provided access to their facilities (Memphis, Los Angeles, and Moscow) as well as airplanes, trucks, uniforms, and logistical support. A team of FedEx marketers oversaw production through more than two years of filming.{{cite news |year=2001 |title='Cast Away' Delivers Goods For Fedex |url=https://www.chicagotribune.com/2001/01/08/cast-away-delivers-goods-for-fedex/ |url-status=live |archive-url=https://web.archive.org/web/20140224020752/http://articles.chicagotribune.com/2001-01-08/features/0101080173_1_fedex-spokeswoman-product-placement-fedex-corp |archive-date=February 24, 2014 |access-date=October 23, 2014 |work=Chicago Tribune}} FedEx CEO Fred Smith made an appearance as himself for the scene where Chuck is welcomed back, which was filmed on location at FedEx's home facilities in Memphis, Tennessee. The idea of a story based on a FedEx plane crashing gave the company "a heart attack at first," but the overall story was seen as positive. FedEx, which paid no money for product placement in the film,{{cite news |year=2004 |title=Stranded: Behind-the-Scenes of Cast Away, A comprehensive behind-the-scenes look at Cast Away |url=http://stumpedmagazine.com/Articles/stranded.html |url-status=dead |archive-url=https://web.archive.org/web/20110716160557/http://stumpedmagazine.com/Articles/stranded.html |archive-date=July 16, 2011 |access-date=December 27, 2009 |work=Stumped Magazine}} saw an increase in brand awareness in Asia and Europe following the film's release.{{cite news |date=April 28, 2005 |title=A look at some of the biggest hits in film and TV product placement |url=http://www.hollywoodreporter.com/thr/film/feature_display.jsp?vnu_content_id=1000901395 |archive-url=https://web.archive.org/web/20060903172648/http://www.hollywoodreporter.com/thr/film/feature_display.jsp?vnu_content_id=1000901395 |archive-date=September 3, 2006 |access-date=November 25, 2007 |work=The Hollywood Reporter}}
= Sponsorships =
== Motorsports ==
File:Denny Hamlin 11 Las Vegas 2023.jpg, driven by Denny Hamlin]]
- 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.
- From 2005 to 2024, FedEx was the primary sponsor of the No. 11 NASCAR Cup Series Toyota, owned by Joe Gibbs Racing. At the end of the 2024 season, it was announced that FedEx will not return to JGR in 2025, after 20 years of sponsoring the No. 11.{{cite web |date=November 11, 2024 |title=End of an era: Denny Hamlin reflects on 20 seasons with FedEx sponsorship |url=https://www.jayski.com/2024/11/11/end-of-an-era-denny-hamlin-reflects-on-20-seasons-with-fedex-sponsorship/ |access-date=November 12, 2024 |website=Jayski's Silly Season Site |publisher=NASCAR Digital Media}} The car had been driven by Jason Leffler and later Denny Hamlin, who drove the car for 19 years, winning 47 races together including three Daytona 500's in 2016, 2019, and in 2020, one Coca-Cola 600, and a Southern 500 together.
- 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.{{Cite web |last1=Ourand |first1=John |last2=Smith |first2=Michael |last3=Lefton |first3=Terry |date=May 3, 2010 |title=FedEx Name will Come off Orange Bowl |url=http://www.sportsbusinessjournal.com/article/65600 |archive-url=https://web.archive.org/web/20100505224824/http://www.sportsbusinessjournal.com/article/65600 |url-status=dead |archive-date=May 5, 2010 |access-date=January 6, 2020 |website=Sports Business Journal }}
- From 1999 to 2024, FedEx held the naming rights to home of the National Football League's Washington Commanders in Landover, Maryland which was known as FedExField. They relinquished their sponsorship deal in 2024, and the stadium is now known as Northwest Stadium.[http://about.fedex.designcdt.com/our_company/marketing_and_advertising Marketing and Advertising | About FedEx] {{Webarchive|url=https://web.archive.org/web/20110722071708/http://about.fedex.designcdt.com/our_company/marketing_and_advertising |date=July 22, 2011 }}. About.fedex.designcdt.com. Retrieved on July 11, 2011.
== Other sports ==
File:FedExForum.jpg in Memphis, Tennessee]]
- FedEx sponsors FedExForum, home of the NBA's Memphis Grizzlies and the University of Memphis men's basketball team.{{Cite web |title=FedEx Forum |url=http://www.athleticbusiness.com/project-26.html |access-date=February 22, 2016 |website=athleticbusiness.com |publisher=Athletic Business |archive-date=March 3, 2016 |archive-url=https://web.archive.org/web/20160303061228/http://www.athleticbusiness.com/project-26.html |url-status=live }}
- FedEx sponsors the Heineken Cup in rugby for the European markets only.{{Cite web |date=May 24, 2014 |title=and Rugby – The Heineken Cup – FedEx | United Kingdom |url=http://www.fedex.com/gb/about/sports-sponsorship/rugby.html |url-status=dead |archive-url=https://web.archive.org/web/20150402144635/http://www.fedex.com/gb/about/sports-sponsorship/rugby.html |archive-date=April 2, 2015 |access-date=March 30, 2015 |publisher=FedEx.com}}
- Beginning in 2007, FedEx became the title sponsor of the FedEx Cup, a championship trophy for the PGA Tour.{{Cite web |title=Prepare thoroughly. Commit totally. Deliver. |url=http://www.fedex.com/fr_english/about/sports-sponsorship/rugby.html |access-date=February 22, 2016 |website=FedEx |archive-date=March 3, 2016 |archive-url=https://web.archive.org/web/20160303000440/http://www.fedex.com/fr_english/about/sports-sponsorship/rugby.html |url-status=live }}
- 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|date=June 2021}}
- 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.{{Cite press release|url=https://newsroom.fedex.com/newsroom/fedex-becomes-official-sponsor-of-the-uefa-champions-league-2/|title=FedEx Becomes Official Sponsor of the UEFA Champions League|publisher=FedEx|access-date=September 15, 2021|archive-date=September 15, 2021|archive-url=https://web.archive.org/web/20210915233145/https://newsroom.fedex.com/newsroom/fedex-becomes-official-sponsor-of-the-uefa-champions-league-2/|url-status=live}}
= 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.{{Cite news |title=100 Best Companies to Work For 2013 – FedEx Corporation – Fortune |work=CNN |url=https://money.cnn.com/magazines/fortune/best-companies/2013/snapshots/98.html?iid=bc_lp_arrow1 |access-date=August 3, 2020 |archive-date=September 20, 2020 |archive-url=https://web.archive.org/web/20200920020159/https://money.cnn.com/magazines/fortune/best-companies/2013/snapshots/98.html?iid=bc_lp_arrow1 |url-status=live }}
Corporate affairs
= Board of directors =
{{As of|2022|April}}, the FedEx Corporation board of directors is:{{Cite web|title=Board of directors|url=https://investors.fedex.com/esg/board-of-directors/default.aspx|access-date=2022-04-06|website=investors.fedex.com|archive-date=December 22, 2021|archive-url=https://web.archive.org/web/20211222145322/https://investors.fedex.com/esg/board-of-directors/default.aspx|url-status=live}}
- 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.{{Cite web |title=FedEx – FedEx – Annual Reports |url=http://investors.fedex.com/financial-information/annual-reports/default.aspx |access-date=2018-11-07 |website=investors.fedex.com |language=en-CA |archive-date=September 19, 2020 |archive-url=https://web.archive.org/web/20200919093653/https://investors.fedex.com/financial-information/annual-reports/default.aspx |url-status=live }} FedEx ranked No. 50 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.{{Cite web |title=Fortune 500 Companies 2018: Who Made the List |url=http://fortune.com/fortune500/list/ |access-date=2018-11-10 |website=Fortune |archive-date=November 10, 2018 |archive-url=https://web.archive.org/web/20181110190356/http://fortune.com/fortune500/list/ |url-status=dead }}
class="wikitable float-left" style="text-align: right;"
! Year ! Revenue ! Net income ! Total Assets ! Price per Share ! 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.{{Cite web|title=FedEx pledges $2 billion toward carbon-neutral operations by 2040, aims for all-electric fleet|url=https://www.msn.com/en-us/money/companies/fedex-pledges-242-billion-toward-carbon-neutral-operations-by-2040-aims-for-all-electric-fleet/ar-BB1ecJ6D|access-date=2021-03-03|website=www.msn.com|archive-date=July 4, 2021|archive-url=https://web.archive.org/web/20210704045120/https://www.msn.com/en-us/money/companies/fedex-pledges-242-billion-toward-carbon-neutral-operations-by-2040-aims-for-all-electric-fleet/ar-BB1ecJ6D|url-status=live}}{{Cite web |last=Dean |first=Grace |title=FedEx is going all-electric. It will invest $2 billion in a zero-emissions delivery fleet and other carbon-cutting measures by 2040, it said. |url=https://www.businessinsider.com/fedex-delivery-fleet-all-electric-carbon-neutral-2040-sustainability-2021-3 |access-date=2024-03-16 |website=Business Insider |language=en-US}} 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.{{Cite web|last=Szymkowski|first=Sean|title=FedEx pledges to go carbon-neutral by 2040 with EV delivery vans and more|url=https://www.cnet.com/roadshow/news/fedex-carbon-neutral-ev-delivery-vans/|access-date=2021-03-03|website=Roadshow|language=en|archive-date=March 3, 2021|archive-url=https://web.archive.org/web/20210303234627/https://www.cnet.com/roadshow/news/fedex-carbon-neutral-ev-delivery-vans/|url-status=live}} 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.{{Cite web|last=Gitlin|first=Jonathan M.|date=2021-01-12|title=FedEx will be the first customer for GM's new electric delivery van|url=https://arstechnica.com/cars/2021/01/fedex-will-be-the-first-customer-for-gms-new-electric-delivery-van/|access-date=2021-03-03|website=Ars Technica|language=en-us|archive-date=March 2, 2021|archive-url=https://web.archive.org/web/20210302065153/https://arstechnica.com/cars/2021/01/fedex-will-be-the-first-customer-for-gms-new-electric-delivery-van/|url-status=live}}
= 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.{{Cite web |year=2020 |title=Top Organization Contributors |url=https://www.opensecrets.org/orgs/list.php?cycle=ALL |url-status=dead |archive-url=https://web.archive.org/web/20191230184031/http://www.opensecrets.org/orgs/list.php?cycle=ALL |archive-date=December 30, 2019 |access-date=January 2, 2020 |website=OpenSecrets.org |publisher=OpenSecrets |location=United States}} 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.{{Cite news |last=Drinkard |first=Jim |date=January 17, 2005 |title=Donors get good seats, great access this week |work=USA Today |url=https://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235354/http://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |url-status=live }}{{Cite news |date=January 16, 2005 |title=Financing the inauguration |work=USA Today |url=https://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235320/http://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |url-status=live }}{{Cite news |date=January 14, 2005 |title=Some question inaugural's multi-million price tag |work=USA Today |url=https://www.usatoday.com/news/washington/2005-01-14-price_x.htm |access-date=May 25, 2008 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235330/http://www.usatoday.com/news/washington/2005-01-14-price_x.htm |url-status=live }}
During the 2018 calendar year, FedEx spent nearly $10.2 million lobbying the federal government,{{Cite web |year=2020 |title=FedEx Corp Lobbying Profile |url=https://www.opensecrets.org/federal-lobbying/clients/summary?cycle=2018&id=D000000089 |archive-url=https://web.archive.org/web/20210308191338/https://www.opensecrets.org/federal-lobbying/clients/summary?cycle=2018&id=D000000089 |url-status=dead |archive-date=March 8, 2021 |access-date=January 2, 2020 |website=OpenSecrets.org |publisher=OpenSecrets |location=United States}} its lowest total since 2008 but more than any other company in the air transport industry.{{Cite web |year=2020 |title=Air Transport Lobbying Profile |url=https://www.opensecrets.org/federal-lobbying/industries/summary?cycle=2018&id=M01 |archive-url=https://web.archive.org/web/20210308212859/https://www.opensecrets.org/federal-lobbying/industries/summary?cycle=2018&id=M01 |url-status=dead |archive-date=March 8, 2021 |access-date=January 2, 2020 |website=OpenSecrets.org |publisher=OpenSecrets |location=United States}}
= 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
Criticism, controversies, and incidents
{{see also|Federal Express Flight 705|FedEx Express Flight 14|FedEx Express Flight 80}}
= 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.{{Cite news |last=Ron Da Parma |date=December 27, 2007 |title=IRS says FedEx may owe $319 million |work=Pittsburgh Tribune-Review |url=http://www.pittsburghlive.com/x/pittsburghtrib/business/s_544387.html |url-status=dead |access-date=January 3, 2008 |archive-url=https://web.archive.org/web/20071226193328/http://www.pittsburghlive.com/x/pittsburghtrib/business/s_544387.html |archive-date=December 26, 2007 |df=mdy-all}}
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"),[http://factcheck.org/2009/07/brown-bailout-hardly 'Brown Bailout?' Hardly] {{Webarchive|url=https://web.archive.org/web/20100619044748/http://factcheck.org/2009/07/brown-bailout-hardly/ |date=June 19, 2010 }}, FactCheck.org was equivalent to giving UPS a "bailout". Independent observers heavily criticized FedEx's wording, claiming that it was "an abuse of the term". FedEx Express employees are regulated under the Railway Labor Act.{{Cite web |title=UPS, FedEx "Brown Bailout" battle rages on |url=http://blog.fleetowner.com/trucking-straight-talk/2010/06/10/ups-fedex-brown-bailout-battle-rages-on/ |url-status=dead |archive-url=https://web.archive.org/web/20100616010653/http://blog.fleetowner.com/trucking-straight-talk/2010/06/10/ups-fedex-brown-bailout-battle-rages-on/ |archive-date=June 16, 2010 |access-date=June 16, 2010 |publisher=Fleetowner.com}}
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.{{Cite news |date=2020-07-29 |title=FedEx pilots, union call on company to suspend Hong Kong operations |language=en |work=Reuters |url=https://www.reuters.com/article/us-health-coronavirus-fedex-idUSKCN24U03S |access-date=2020-09-15 |archive-date=September 14, 2020 |archive-url=https://web.archive.org/web/20200914202519/https://www.reuters.com/article/us-health-coronavirus-fedex-idUSKCN24U03S |url-status=live }} FedEx was criticized more broadly for providing inadequate protections and sick leave during the pandemic.{{Cite news |last1=Abrams |first1=Rachel |last2=Silver-Greenberg |first2=Jessica |date=21 March 2020 |title='Terrified' Package Delivery Employees Are Going to Work Sick |work=The New York Times |url=https://www.nytimes.com/2020/03/21/business/coronavirus-ups-fedex-xpo-workers.html |access-date=January 9, 2021 |archive-date=February 18, 2021 |archive-url=https://web.archive.org/web/20210218110714/https://www.nytimes.com/2020/03/21/business/coronavirus-ups-fedex-xpo-workers.html |url-status=live }}
= 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.{{Cite news |last=Moyer, Justin |date=July 18, 2014 |title=FedEx indicted for drug dealing. Not a delivery guy — the whole company. |newspaper=The Washington Post |url=https://www.washingtonpost.com/news/morning-mix/wp/2014/07/18/fedex-indicted-for-drug-dealing-not-a-delivery-guy-the-whole-company/ |access-date=August 27, 2017 |archive-date=July 16, 2017 |archive-url=https://web.archive.org/web/20170716075124/https://www.washingtonpost.com/news/morning-mix/wp/2014/07/18/fedex-indicted-for-drug-dealing-not-a-delivery-guy-the-whole-company/ |url-status=live }} 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."{{Cite news |date=July 17, 2014 |title=FedEx Indicted For Its Role In Distributing Controlled Substances And Prescription Drugs |publisher=U.S. Department of Justice |url=https://www.justice.gov/usao/can/news/2014/2014_07_17_fedex.indicted.press.html |access-date=November 22, 2020 |archive-date=November 20, 2014 |archive-url=https://web.archive.org/web/20141120015938/http://www.justice.gov/usao/can/news/2014/2014_07_17_fedex.indicted.press.html |url-status=dead }} 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".{{Cite web |last=Elias |first=Paul |title=FedEx charges raise online pharmacy issues |url=https://news.yahoo.com/fedex-charges-raise-online-pharmacy-144213122.html |access-date=August 2, 2014 |publisher=Yahoo |archive-date=July 29, 2014 |archive-url=https://web.archive.org/web/20140729140548/http://news.yahoo.com/fedex-charges-raise-online-pharmacy-144213122.html |url-status=live }} 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.{{Cite web |title=A trial accusing FedEx of knowingly shipping illegal prescription drugs just ended suddenly |website=Business Insider |url=http://www.businessinsider.com/a-trial-accusing-fedex-of-knowingly-shipping-illegal-prescription-drugs-just-ended-suddenly-2016-6 |access-date=August 24, 2016 |archive-date=August 26, 2016 |archive-url=https://web.archive.org/web/20160826111448/http://www.businessinsider.com/a-trial-accusing-fedex-of-knowingly-shipping-illegal-prescription-drugs-just-ended-suddenly-2016-6 |url-status=live }}{{Cite news |last=Beckerman |first=Josh |date=June 20, 2016 |title=FedEx: Justice Department Dismisses Charges Over Online Pharmacy Shipments |work=The Wall Street Journal |url=https://www.wsj.com/articles/fedex-justice-department-dismisses-charges-over-online-pharmacy-shipments-1466201256 |access-date=August 24, 2016 |issn=0099-9660 |archive-date=August 24, 2016 |archive-url=https://web.archive.org/web/20160824044322/http://www.wsj.com/articles/fedex-justice-department-dismisses-charges-over-online-pharmacy-shipments-1466201256 |url-status=live }}{{Cite web |date=June 20, 2016 |title=Feds Drop Charges Claiming FedEx Knowingly Trafficked Illegal Prescription Drugs |url=http://fortune.com/2016/06/20/doj-fedex-illegal-online-pharmacies/ |access-date=August 24, 2016 |website=Fortune |archive-date=August 23, 2016 |archive-url=https://web.archive.org/web/20160823180146/http://fortune.com/2016/06/20/doj-fedex-illegal-online-pharmacies/ |url-status=live }}
= Illegal parking criticism =
File:FedEx driver parked in bike lane.jpg in a Washington, DC bike lane in January 2020]]
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.{{Cite news |last1=Haag |first1=Matthew |last2=Hu |first2=Winnie |date=27 October 2019 |title=1.5 Million Packages a Day: The Internet Brings Chaos to N.Y. Streets (Published 2019) |work=The New York Times |url=https://www.nytimes.com/2019/10/27/nyregion/nyc-amazon-delivery.html |access-date=9 January 2021 |archive-date=January 28, 2021 |archive-url=https://web.archive.org/web/20210128210832/https://www.nytimes.com/2019/10/27/nyregion/nyc-amazon-delivery.html |url-status=live }}{{Cite news |last=Meyer |first=David |date=1 August 2018 |title=Just Another Day in New York City's Perpetually Blocked Bike Lanes |work=Streetsblog New York City |url=https://nyc.streetsblog.org/2018/08/01/just-another-day-in-new-york-citys-perpetually-blocked-bike-lanes/ |access-date=9 January 2021 |archive-date=February 8, 2021 |archive-url=https://web.archive.org/web/20210208004133/https://nyc.streetsblog.org/2018/08/01/just-another-day-in-new-york-citys-perpetually-blocked-bike-lanes/ |url-status=live }} They were criticized alongside peers in a letter from Washington, D.C.'s transportation agency in 2018.{{Cite news |last=Giambrone |first=Andrew |date=5 November 2018 |title=Don't park in bike lanes, D.C. officials tell major mail carriers |language=en |work=Curbed DC |url=https://dc.curbed.com/2018/11/5/18065202/dc-bike-lanes-mail-carriers-vision-zero |access-date=9 January 2021 |archive-date=January 11, 2021 |archive-url=https://web.archive.org/web/20210111115557/https://dc.curbed.com/2018/11/5/18065202/dc-bike-lanes-mail-carriers-vision-zero |url-status=live }}
= Criticism of NRA partnership =
FedEx was criticized for its partnership with the National Rifle Association of America, which it terminated in 2018 under pressure from activists.{{Cite news |last=Hsu |first=Tiffany |date=30 October 2018 |title=FedEx Ends Deal for N.R.A. but Says It's Not Because of Pittsburgh Shooting (Published 2018) |work=The New York Times |url=https://www.nytimes.com/2018/10/30/business/fedex-nra-discount.html |access-date=9 January 2021 |archive-date=January 11, 2021 |archive-url=https://web.archive.org/web/20210111090543/https://www.nytimes.com/2018/10/30/business/fedex-nra-discount.html |url-status=live }}
= Huawei package delivery dispute =
On June 1, 2019, China filed a case against FedEx for allegedly undermining the rights of Chinese clients.{{Cite news |last=Kimball |first=Spencer |title=Beijing to investigate FedEx for 'damaging rights of Chinese clients' amid Huawei dispute |agency=CNBC |url=https://www.cnbc.com/2019/06/01/beijing-to-investigate-fedex-for-damaging-rights-of-chinese-clients-amid-huawei-dispute.html |access-date=2019-06-01 |archive-date=June 1, 2019 |archive-url=https://web.archive.org/web/20190601171602/https://www.cnbc.com/2019/06/01/beijing-to-investigate-fedex-for-damaging-rights-of-chinese-clients-amid-huawei-dispute.html |url-status=live }} The investigation stemmed from FedEx diverting Huawei packages destined for Asia to FedEx's headquarters in the United States instead without authorisation, after Huawei was added to the US Entity List.{{Cite news |date=2019-05-28 |title=Exclusive: Huawei reviewing FedEx relationship, says packages... |work=Reuters |url=https://www.reuters.com/article/us-huawei-tech-fedex-exclusive-idUSKCN1SX1RZ |access-date=2019-05-28 |archive-date=May 30, 2019 |archive-url=https://web.archive.org/web/20190530015204/https://www.reuters.com/article/us-huawei-tech-fedex-exclusive-idUSKCN1SX1RZ |url-status=live }}{{Cite news |last=Sabur |first=Rozina |date=2019-05-28 |title=Huawei reviewing ties with FedEx after two packers were 'diverted to America' |work=The Telegraph |url=https://www.telegraph.co.uk/news/2019/05/28/huawei-reviewing-ties-fedex-two-packers-diverted-america/ |access-date=2019-05-29 |issn=0307-1235 |archive-date=May 29, 2019 |archive-url=https://web.archive.org/web/20190529221732/https://www.telegraph.co.uk/news/2019/05/28/huawei-reviewing-ties-fedex-two-packers-diverted-america/ |url-status=live }}{{Cite web |title=Huawei accuses FedEx of diverting documents to the US |url=https://www.engadget.com/2019/05/27/huawei-fedex-diverting-documents-accusation/ |access-date=2019-05-29 |website=Engadget |date=May 28, 2019 |archive-date=May 29, 2019 |archive-url=https://web.archive.org/web/20190529173725/https://www.engadget.com/2019/05/27/huawei-fedex-diverting-documents-accusation/ |url-status=live }} FedEx later apologised for the "mistransportation".{{cite news |title=FedEx apologises to Huawei for re-routing packages to the US |url=https://www.scmp.com/tech/gear/article/3012162/fedex-apologises-huawei-re-routing-packages-us |work=South China Morning Post |date=28 May 2019 |language=en}}
It has also 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.{{Cite web |last=Brandom |first=Russell |date=2019-06-21 |title=FedEx refused to deliver a Huawei phone into the US |url=https://www.theverge.com/2019/6/21/18701276/huawei-ban-fedex-ban-pc-magazine-shipment |access-date=2019-06-22 |website=The Verge |archive-date=June 22, 2019 |archive-url=https://web.archive.org/web/20190622060005/https://www.theverge.com/2019/6/21/18701276/huawei-ban-fedex-ban-pc-magazine-shipment |url-status=live }}{{Cite magazine |last1=Segan |first1=Sascha |last2=Smith |first2=Adam |date=June 21, 2019 |title=FedEx Refused to Ship Our Huawei Phone |url=https://www.pcmag.com/news/369155/are-huawei-phones-now-banned-from-the-mail |magazine=PC Magazine |publisher=Ziff Davis |access-date=June 22, 2019 |archive-date=June 21, 2019 |archive-url=https://web.archive.org/web/20190621191734/https://www.pcmag.com/news/369155/are-huawei-phones-now-banned-from-the-mail |url-status=live }}
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.{{Cite web |title=Chinese officials suspect FedEx held back over 100 Huawei packages |date=July 26, 2019 |url=https://edition.cnn.com/2019/07/26/business/fedex-huawei-china-probe/index.html |access-date=26 July 2019 |publisher=CNN |archive-date=July 26, 2019 |archive-url=https://web.archive.org/web/20190726105536/https://edition.cnn.com/2019/07/26/business/fedex-huawei-china-probe/index.html |url-status=live }}
= 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.{{Cite news |last=Pound |first=Jesse |date=December 16, 2019 |title=These 91 companies paid no federal taxes in 2018 |work=CNBC |url=https://www.cnbc.com/2019/12/16/these-91-fortune-500-companies-didnt-pay-federal-taxes-in-2018.html |access-date=2020-02-11 |archive-date=June 10, 2021 |archive-url=https://web.archive.org/web/20210610045455/https://www.cnbc.com/2019/12/16/these-91-fortune-500-companies-didnt-pay-federal-taxes-in-2018.html |url-status=live }} 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.{{Cite web |last1=Tankersley |first1=Jim |last2=Eavis |first2=Peter |last3=Casselman |first3=Ben |date=2019-11-17 |title=How FedEx Cut Its Tax Bill to $0 |url=https://www.nytimes.com/2019/11/17/business/how-fedex-cut-its-tax-bill-to-0.html |access-date=2020-02-20 |website=The New York Times |language=en-US |archive-date=November 30, 2019 |archive-url=https://web.archive.org/web/20191130103622/https://www.nytimes.com/2019/11/17/business/how-fedex-cut-its-tax-bill-to-0.html |url-status=live }}
= Mass shooting at Indianapolis facility =
{{Main|Indianapolis FedEx shooting}}
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.
= Texas fatal crash =
A FedEx truck in Texas veered into the oncoming lane and collided with oncoming SUV in Texas in May 2024 causing all five people in the SUV to die.{{Cite web |last=Alund |first=Natalie Neysa |title=5 family members killed after FedEx truck crashes into SUV in south Texas |url=https://www.usatoday.com/story/news/nation/2024/05/30/fedex-truck-crash-eagle-pass-texas/73903970007/ |access-date=2024-06-03 |website=USA TODAY |language=en-US}}{{Cite news |last=Neath |first=Amelia |date=2024-05-31 |title=Family of five killed after FedEx truck smashed into their SUV in Texas |url=https://www.independent.co.uk/news/world/americas/family-five-texas-crash-fedex-b2554446.html |access-date=2024-06-03 |work=The Independent |language=en}}
= Pennsylvania vehicular homicide =
A FedEx driver Santos M. Valentin killed three people in July 2024 while driving a FedEx semi truck while using his cell phone. Santos has been charged with three counts of vehicular homicide. Valentin claimed the victim's vehicle came out of nowhere, however video footage from inside the FedEx truck's cab showed Valentin looking at his phone for a long period leading up to the crash.{{Cite web |last=Panyard |first=Jack |date=2025-02-13 |title=Philadelphia man killed New York father and 2 children in July turnpike crash: police |url=https://lancasteronline.com/news/local/philadelphia-man-killed-new-york-father-and-2-children-in-july-turnpike-crash-police/article_e663886e-ea4c-11ef-b5af-bf23832a6fb2.html |access-date=2025-03-30 |website=LancasterOnline |language=en}}{{Cite web |last=Wise |first=Jenna |date=2025-02-13 |title=FedEx driver was on his phone during Pa. Turnpike crash that killed father, 2 kids: police |url=https://www.pennlive.com/crime/2025/02/fedex-driver-was-on-his-phone-during-pa-turnpike-crash-that-killed-father-2-kids-police.html |access-date=2025-03-30 |website=pennlive |language=en}}{{Cite web |date=2025-02-18 |title=FedEx driver charged in triple fatality crash on PA Turnpike |url=https://www.fox43.com/article/news/local/lancaster-county/santos-valentin-homicide-by-vehicle-fedex-truck-driver-deadly-crash-turnpike/521-cdb553d4-02a4-41a5-808d-adb1044577c1 |access-date=2025-03-30 |website=fox43.com |language=en-US}}
References
{{Reflist}}
External links
{{Portal|Companies|United States}}
- {{Official website|https://www.fedex.com}}
{{Finance links
| name = FedEx Corporation
| symbol = FDX
| sec_cik = 1048911
| yahoo = FDX
| google = FDX:NYSE
}}
- {{Commons-inline}}
{{FedEx}}
{{Trucking industry in the United States}}
{{Dow Jones Transportation Average}}
{{US logistics}}
{{Authority control}}
Category:1971 establishments in Arkansas
Category:1970s initial public offerings
Category:American companies established in 1971
Category:Companies based in Memphis, Tennessee
Category:Companies in the Dow Jones Transportation Average
Category:Companies listed on the New York Stock Exchange
Category:Logistics companies of the United States
Category:Trucking companies of the United States
Category:Multinational companies headquartered in the United States
Category:Transport companies established in 1971