FedEx Properties For
Interested in Purchasing a FedEx Property
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Properties for sale in Washington DC, Maryland, Virginia and the entire United
(NYSE: FDX), originally
known as FDX Corporation, is a logisticsservices
company, based in the United
Tennessee. The name "FedEx" is
a syllabic abbreviation of the name of the company's original air division, Federal Express, which
was used from 1973 until 2000.
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
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. FDX Corporation was founded to oversee
all of the operations of those companies and its original air division, Federal Express.
In January 2000, FDX Corporation changed its name to FedEx
Corporation and re-branded all of its subsidiaries. Federal Express became FedEx
became FedEx Ground,
Roberts Express became FedEx
Custom Critical, and Caliber Logistics and Caliber Technology were
combined to make up FedEx Global
Logistics. A new subsidiary called FedEx Corporate Services was formed to
centralize the sales, marketing, customer service for all of the subsidiaries. In February 2000, FedEx
International, an international
logistics company. FedEx also acquired WorldTariff, a customs duty and tax information company,
TowerGroup and WorldTariff were re-branded to form FedEx Trade Networks.
FedEx Corp. acquired privately held Kinko's Inc. in
February 2004 and rebranded it FedEx Kinko's. The acquisition was made to expand FedEx retail access to the general
public. After the acquisition, all FedEx Kinko's locations exclusively offered only FedEx
shipping. In June 2008, FedEx
announced that they would be dropping the Kinko's name from their ship centers, with FedEx Kinko's changing
to FedEx Office.
In September 2004, FedEx acquired Parcel Direct, a
parcel consolidator, and re-branded it FedEx SmartPost.
In December 2007, the Internal Revenue Service of the United States 'tentatively
decided' that FedEx Ground Division might be facing a tax liability of $319 million for 2002, due to
misclassification of its operatives as independent contractors. Reversing a 1994 decision which allowed FedEx
to classify its operatives that own their own vehicles, the IRS is auditing the years 2003 to 2006, with a
view to assessing whether similar misclassification of operatives has taken place. FedEx denies that any
irregularities in classification have taken place, but is facing legal action from operatives claiming
benefits that would have accrued had they been classified as employees.
On October 22, 2008, the Internal
Revenue Service withdrew its tentative assessment of tax and penalties for the 2002 calendar year ($319 million
plus interest) against FedEx Ground Package System, Inc. (“FedEx Ground”) relating to the classification of FedEx
Ground’s owner-operators for federal employment tax purposes.
In June 2009, FedEx began a campaign
against UPSand the Teamstersunion,
accusing its competitor of receiving a bailoutin an
advertising campaign called "brown bailout". FedEx claims that signing the Federal Aviation Administrationre-authorization bill, which would let some of its
workers unionize more easily (and, according to the Memphis-based company, "could
expose [its] customers at any time to local work stoppages that interrupt the flow of their time-sensitive,
high-value shipments”), is equivalent to giving UPS a 'bailout'. Independent observers have heavily criticized
FedEx's wording, claiming that it was "an abuse of the term". FedEx staff are
regulated under the Railway Labor Act.