'The economy will come around'

Discussion in 'The Latest FedEx Headlines' started by cheryl, Oct 8, 2008.

  1. cheryl

    cheryl I started this. Staff Member

    'The economy will come around' - CNN Money

    If you're looking for insight into the global economy, Fred Smith is a pretty good place to start. As CEO of Memphis-based package-delivery giant FedEx, he oversees an army of some 290,000 workers who collectively move 7.6 million parcels daily to more than 220 countries.

    Since starting FedEx in 1971, Smith has built a company that is not only large (with over $35 billion in revenue, it's ranked No. 68 on the Fortune 500) but also highly regarded (No. 7 on Fortune's list of Most Admired Companies). In September, FedEx reported first-quarter profits that met Wall Street's expectations but were down 22% from the year before because of a "continued slowdown" in the global economy.