How tall is fred smith

However, one incident in his junior year stood out, providing the germ of an idea that later carried Smith to success. For an economics class Smith wrote a term paper that outlined his idea for a company that would guarantee overnight delivery of small, time-sensitive goods, such as replacement parts and medical supplies, to major U. The professor was not impressed and gave Smith a grade of C for his work.

But Smith's idea stayed with him, though it would be a few more years before he would have the opportunity to try it out. In Smith graduated with a degree in economics and shortly thereafter enlisted in the U. Marine Corps. Smith would do two tours in Vietnam, enrolling in flight school and eventually flying more than two hundred ground support missions.

In July Smith was honorably discharged at the rank of captain with numerous honors, including a Silver Star, a Bronze Star, and two Purple Hearts. However, the marriage would not last, and the couple divorced in Upon returning to the United States in , Smith decided to revisit the idea he had written about in his economics paper.

The need to create something was also spurred in part by his time in Vietnam. As he later told an interviewer, "I got so sick of destruction and blowing things up … that I came back determined to do something more constructive" Current Biography Yearbook To get his fledgling business underway, Smith began by purchasing the controlling interest in Ark Aviation Sales, an aircraft maintenance company owned by his then father-in-law.

By Smith had expanded the company's venue, turning the focus from airplane maintenance to a company that bought and sold used corporate jets.

By now Smith had devised a well-thought-out strategy to implement his idea while making the most of his resources. Originally Smith wanted to do contract work for the Federal Reserve System, transporting, sorting, and rerouting checks. His business plan called for a fleet of planes that would pick up packages for delivery.

The planes and cargo would be flown at night, when air traffic was minimal; packages would then be dropped at a central location or hub, where they would be sorted.

From there the parcels, using both ground and air, would be routed to their destinations within a hour period. Smith chose Memphis as the hub city because of its central location, moderate climate, and labor resources. Smith also wanted the company to own its own planes in order to bypass federal shipping regulations.

On paper Smith's delivery system was simple and practical. However, there were many problems to overcome to make it work. Financially, the business required a tremendous amount of money for planes, pilots, and insurance. Smith also needed to design a transportation system that could not only link any two parts of the country but also ensure that packages going back and forth could be delivered within the promised hour window—something that had never been tried before in cargo delivery.

Although Smith was unable to convince the Federal Reserve that his plan would work, he decided to spend money on an intensive advertising campaign to persuade anyone else who might be interested in such a venture.

Smith also realized that by using both air and ground transport, package deliveries did not have to take the most direct route, as long as they made it to their destinations within 24 hours.

Over time a web of interconnecting cities was established that would provide Federal Express service. By Smith was ready to go; Federal Express, with a fleet of 14 jets and several vans, began offering service to 25 cities. Still, as Smith later recalled, few people were encouraged by his new venture. In a interview, Smith said, "People thought we were bananas. We were too ignorant to know that we weren't supposed to be able to do certain things" New York Times , January 7, Federal Express's first two years were grim.

In fact, on its first night of business, the fledgling company shipped only packages onto its 14 Falcon jets routed to 22 cities. Within the first three months of operation, the company had lost almost a third of its start-up cash. It was not uncommon for Federal Express drivers to dig into their own pockets to pay for gas. The company also lost money because of high advertising costs Smith believed advertising to be essential for his company's survival and because of increased aircraft fuel and gasoline prices resulting from the Arab Oil Embargo of Smith's sisters also brought suit against their brother for misappropriating their trust fund monies.

However, by the company had begun to show a profit as it delivered everything from documents and computer parts to sensitive parcels, such as blood and organs. Despite competition from UPS and other delivery companies, the Federal Express customer base was growing as well; besides counting several businesses among its clientele, Federal Express was also handling deliveries for the federal government. By the company had proven itself financially stable enough to begin selling shares on the New York Stock Exchange.

Not content just to oversee his growing delivery network, Smith cast about for other ideas that would maintain Federal Express's position as the fastest-growing and speediest delivery service. He is also known to have friendly relations with John Kerry. Windland Smith Rice was the first daughter of Frederick Smith, who was a professional photographer specializing in animals and nature.

Richard Smith is a businessman, editor and medical doctor by profession. I Love You in The later was dedicated to her dead sister Windland Smith Rice. Arthur Smith is a writer and alternative comedian, who has won several awards and nominations for his standup performances and play roles.

In , he ranked on Forbes list, and on the list of billionaires in the US. In this table we try to give you an idea of his net worth and salary.

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