Old 07-21-2009, 06:00 AM
  #17  
Gunter
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Joined APC: Aug 2006
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Originally Posted by Captain Cook View Post
How much money did little Fred's daddy leave him to startup his company again? Over $100 million?

Singlehandedly huh? I bet the $100 mil had something to do with it.
The young entrepreneur (Fred Smith) raised $80 million to launch Federal Express, informally known as FedEx. The delivery service began modestly with small packages and documents. On the first night of operations, a fleet of 14 jets took off with 186 packages. In the first two years, the venture lost $27 million. In a short time, the company was on the verge of bankruptcy. It appeared that Smith had lost all of his investors' money, including the capital of his own brothers and sisters. But Smith succeeded in renegotiating his bank loans and was able to keep the company afloat.




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