Re: Discuss: FedEx CEO among the Best in America, Says Institutional Investor Magazin
If Institutional Investor Magazine (?) says it, it must be so. Considering the source, Smith isn't a surprising choice because he always maximizes return for the investor at the expense of his employees. For Smith, only the bottom line matters, and it really doesn't matter to him how many people he dumps on to bring in those dollars.
Those who are interested in finding out more about the great Fred S should do a little research on the man and his personal and business ethics. His strange and Napoleonic rantings on his concept of "leadership" also deserve examination.
Not exactly a self-made millionaire, Smith was born into money. While he does deserve credit for creating Federal Express and presiding over one of the most successful venture capital enterprises of all time, he has a checkered history.
Smith was accused by his sisters of using their money without authorization to help start Federal Express, an allegation that has never been publicly proven or disproven.
Shortly after starting FedEx, a drunken Smith hit and killed a pedestrian in Memphis. To make a long story short, Smith got out of it because he was about all Memphis had going for it besides Elvis.
Smith has also been repeatedly accused of shady financial deals and illegal anti-competition practices. His political connections are deep, and well-financed by Smith and FedEx. It's no big secret that Fred keeps a large fleet of executive jets available for Washington politicians, who are more than happy to take advantage of his hospitality. Take a look at the prominent former politicians on the FedEx Board of Directors. He's got a lot of powerful people in his pocket, and he gets his money's worth when they vote pro-FedEx on legislation.
Great guy,great CEO, great humanitarian....he's our Fred.