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FedEx Among FORTUNE Magazine's "World's Most Admired Companies"

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FORTUNE announced today that FedEx has ranked number seven on its list of the “World’s Most Admired Companies". This is based on input from executives, directors and financial analysts worldwide. And, for the first time FORTUNE has combined the America’s Most Admired and World’s Most Admired lists into a single list of companies. This recognizes the truly global nature of business.

I would like to give all the credit for this great honor to the 290,000 FedEx team members around the world whose performance every day is nothing short of amazing.  Thank you for your commitment to making every FedEx experience outstanding.

I believe this award has particular significance for us this year.  Why?  Because in a time when the global economy is so bleak, we are being recognized for doing the right things despite the downturn.  In a time when the reputations of many companies have taken a dive, we remain a respected corporation.

It’s been said that great reputations equal greater returns.  According to a Penn State study, over a 15-year period, FORTUNE’s Most Admired companies increased their returns on average by 22 percent, as compared to 16 percent from the Standard & Poor 500, and by negative 1.7 percent from companies with the lowest-ranking reputations. So this accolade is the ultimate report card on reputation and one that can make a difference to the bottom line.  Essentially, it shows that people trust us in a time when people tend not to trust.

As proud as we are to receive this honor, we recognize that with it comes responsibility—to continue earning the trust of our customers, team members and shareowners in the years to come. Once again, bravo to every team member in every FedEx location around the globe.

Comments (3) 

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I would just like to say that i have been working at fedex for about a year now and I can really feel this is a company worth putting time and effort into. I try to greet everyone with a smile and a hello. Even if they're having a bad day we as a company can only brighten their day because they know no matter what kind of day they're having that when the fedex man comes nothings going to go wrong and if it does (which is very rare) then we will do everything we can to fix it and keep all parties involved as happy as the day they decided to use fedex. Keep up the great work everybody and god bless.

It is the humility of Mr. Smith that he has passed on the credit of this achievement to the people. It is his leadership that has enabled us to be counted amongst the most admired companies. Actions taken by the leadership that experienced the downturn of the economy speak volumes! One could clearly distinguish the ones that were self-serving from the ones that truly lived the people philosophy. We hear and read about people oriented organizations but it is a matter of pride to be a part of the organization that lives its principles. It requires courage and firm determination to actualize these principles. This unconditional resolve to dedicate to the welfare of the people has made the organization what it is today and it is because of the sound leadership that goes along with it. I am sure it must have taken tremendous amount of hard work that has gone behind the scene since the inception of FedEx. As long as the people do not forget the founding spirit of the organization and feel grateful for the excellent leadership, this company will weather all tribulations with courage and emerge victorious. Mr. Smith, thank you for your leadership.

Dear Sir, After reading Fortune ranked FedEx seventh in both America’s and the World’s Most Admired companies I remembered reading about BYD ( Build Your Dreams), which is a new auto manufacturer in China. The potential for a collaborative relationship between FedEx and BYD presented itself. The reasons include: 1. BYD has been among the worlds three largest manufacturers of batteries for the global IT industry but is now at the forefront of manufacturing a unique ferrous oxide battery which is superior to those offered by its competitors in the global auto industry. 2. FedEx is at the forefront of a handful of global carriers. 3. BYD conducts all its manufacturing in its brand new sprawling plant in Shenzhen China, where it intends quickly to establish a commanding presence in the auto industry. 4. FedEx has just completed its mammoth airport and hub facility in Guangzhou, China, where it intends to rapidly assume a dominate presence in the freight transport industry. 5. The total distance from Guangzhou, China to Shenzhen, China is 69 miles 6. New railway construction between Guangzhou and Shenzhen is almost complete. 7. FedEx has preeminent global recognition and is committed to reducing U.S. oil dependence but does not manufacture vehicles. 8. BYD is dedicated to achieving the status of the manufacturer and global distributor of unsurpassed electric vehicles but does not have global recognition 9. If FedEx collaborates with BYD because BYD’s vehicles reduce FedEx’s oil dependence without compromising its American and World ranking and BYD collaborates with FedEx because BYD vehicles permit FedEx to reduce oil dependence without compromising its American and World ranking, BYD will attain and FedEx will retain it ranking as the World’s Most Admired companies. *Warren E. Buffett bought a 9.89 percent stake in a Chinese battery manufacturer that plans to sell electric cars in the United States by 2010. The MidAmerican Energy Holdings Company will pay 1.8 billion Hong Kong dollars — about $230 million — for the stake in the battery maker, the BYD Company. Mr. Buffett’s Berkshire Hathaway owns 87.4 percent of MidAmerican. BUSINESS WORLD BUSINESS | September 30, 2008 emailthis@ms3.lga2.nytimes.com

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About This Blogger

Smith gives his perspectives on the global economy as well as issues of importance to FedEx.

Other Posts by Fred Smith