On the recordApril 17, 2013
I rise today to recognize the 40th anniversary of the founding of FedEx, one of the world's great companies. According to business lore, CEO Fred Smith originally introduced his idea for FedEx in a Yale economics paper that got him a C grade. Today, 40 years later, we can all appreciate the merit of that C paper after the company originally set up shop in 1973 near the Memphis airport with 14 aircraft and 186 packages set for delivery. That first day, FedEx flew to 25 U.S. cities from its home base in Memphis, which remains its world headquarters. Today, FedEx has grown to ship more than 9 million parcels daily across the globe. FedEx and Fred Smith have also shown great generosity to the country, and Memphis is lucky and proud that it's our home company. Fred Smith, a combat marine, who served two tours of duty in Vietnam, served as the cochair of the World War II Memorial Committee to build a memorial here in Washington. It used to be said that what's good for General Motors is good for the Nation, but now I think what's good for FedEx is good for the Nation--absolutely, positively. I congratulate Fred Smith and FedEx on 40 years of great service, and I look forward to another 40 years of innovation and service. ____________________
