FedEx True Story: Fred Smith founder and current Chief Executive Officer saved the day for FedEx with a 5 thousand dollar gambling spree in Vegas.
FedEx true story about how Fred Smith saved the day
During the early days of a new business it is easy to suffer cash flow problems due to sporadic payment problems. For a growing business to survive it needs credit lines to fund cash flow deficit at times. No one will ever know what the reasons behind this FedEx true story are, except Fred Smith.
Fred Smith founded the company during 1971 with a personal 4 million dollar investment and an additional 90 million investment. The objective was to build a company which could send overnight deliveries to anywhere in the world. You might think that was a very bold undertaking but no other company was offering this type of service at the time. Well that was a big gamble in itself.