Federal Express Rumor?
I heard a rumor that it took Federal Express over $80 million dollars before making a profit, making it the most money ever needed to gain a profit in U.S. History. Is there any truth to this?
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That is a Rumor, Fed Ex purchased a well established less than truck load carrier.
FedEx Corporation is a Delaware corporation, incorporated October 2, 1997 FDX Corporation was founded in January 1998 with the acquisition of Caliber System Inc. by Federal Express. With the purchase of Caliber, FedEx started offering other services besides express shipping. Caliber subsidiaries included RPS, a small-package ground service; Roberts Express, an expedited shipping provider; Viking Freight, a regional, less-than-truckload freight carrier serving the Western United States; Caribbean Transportation Services, a provider of airfreight forwarding between the United States and the Caribbean; and Caliber Logistics and Caliber Technology, providers of logistics and technology solutions.