fred smith

“Fantastical”, said FedEx chief exec Fred Smith less than a year ago when quizzed on the idea that Amazon had become its competitor. Now, Market Watch reports that Mr Smith has changed his tune. A tune change that, perhaps merely coincidentally, comes a few short months on from FedEx dumping the e-commerce giant as a customer. During an investor call he said the company now competes in an environment with five entities, the usual suspects – DHL, UPS, USPS, and, of course, itself – and now Amazon. He added that he “wakes up every day” thinking about this new competitor.  

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