FedEx Bet

FedEx Bet

In 1971, FedEx got down to the last $5,000, which wasn't enough to refuel the planes to make that weekend’s deliveries. With impending bankruptcy and no other options, CEO Fred Smith literally took all of it to Vegas, got lucky, and turned it into enough money to refuel, finish the shipments, and save the company.

Previous Fact Next Fact
Categories: CorporationFinance

Latest FactRepublic Video

15 Most Controversial & Costly Blunders in History

Sponsored Links