FedEx
FedEx (NYSE: FDX), whose
full corporate name is FedEx Corporation, is a cargo airline,
printing, and courier company offering overnight courier, ground,
heavy freight, document copying and logistics services.
FedEx is a syllabic abbreviation of the company's original
name, Federal Express. |
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The name "FedEx" had been a
popular, if unofficial, abbreviation for Federal Express for
several years before the company chose it as its primary brand name in
1994. The new identity was revealed to the world on June 24, 1994. The
"Federal Express" name was eliminated entirely in 2000, when FDX
Corporation changed its name to FedEx Corporation and adopted the
tagline "The World On Time". In
2000, FedEx and the USPS signed a 7-year contract to carry all the
USPS overnight and high-priority mail throughout the FedEx system. The
postal contract has recently been extended until 2012 and USPS
continues to be one of the largest customers for FedEx. In 2001, FedEx
acquired American Freightways, a leading less-than-truckload (LTL)
carrier, and combined them with Viking Freight to create FedEx
Freight.
In February 2004, FedEx bought
Kinko's, a Dallas-based chain that provides copying/printing and
business services, for $2.4 billion (most likely in response to UPS
acquiring Mailboxes Etc). In May 2006, FedEx acquired the assets of
Watkins Motor Lines, a leader in long-haul LTL freight transportation
for $780 million cash. The purchase allowed FedEx to provide more
choices for heavyweight deliveries, expanding its portfolio to meet
customer demands. The company has been re-branded as FedEx National
LTL, and is part of the Fedex Freight segment.
In its advertising, the company made famous the line "Absolutely,
positively" for their overnight service; the original phrase was "When
it absolutely, positively has to get there overnight." Another slogan,
"Relax, it's FedEx", is well recognized. For several years the company
promoted the slogan "Don't panic", particularly on buttons. Throughout
Europe, the marketing tag line is "whatever it takes". One major
exception is Interior Alaska outside of Anchorage or Fairbanks local
areas. Overnight packages are transferred to the United States Postal
Service and then shipped either parcel post or first class mail with
no tracking ability. FedEx marks the tracking of these items as
"Delivered to customer" when the USPS receives the items.
Major competitors include UPS, DHL, and TNT, in addition to post
office organizations around the globe. |