1 00:00:04,720 --> 00:00:07,640 Speaker 1: Everybody. It's spill Courtney with an army in normal folks. 2 00:00:07,840 --> 00:00:11,840 Speaker 1: Welcome to shop, talk number sixty. Welcome into the shop, 3 00:00:11,960 --> 00:00:13,320 Speaker 1: Alex at. 4 00:00:13,280 --> 00:00:15,920 Speaker 2: Age sixty, are we eligible free AARP? 5 00:00:16,880 --> 00:00:17,880 Speaker 1: Is it sixty or today? 6 00:00:17,920 --> 00:00:19,680 Speaker 2: They might have even loured it's a fifty five now 7 00:00:19,800 --> 00:00:22,880 Speaker 2: these days. I don't know anyway, I'm just filling space. 8 00:00:22,960 --> 00:00:25,000 Speaker 1: Keep going sixty. But I'm trying to think of a 9 00:00:25,200 --> 00:00:28,560 Speaker 1: sixty that matters. I can't think of a sixty. The batters. 10 00:00:28,600 --> 00:00:32,640 Speaker 1: I'm sure you'll google somethinghere. I'm talking. How you doing. 11 00:00:32,720 --> 00:00:34,920 Speaker 1: You just got back from Florida or somewhere. 12 00:00:34,680 --> 00:00:37,280 Speaker 2: Right, Yeah, kind of half vacation, half of the kids. 13 00:00:37,280 --> 00:00:39,600 Speaker 2: My parents lived there, so yeah, and they'll make it 14 00:00:39,720 --> 00:00:40,599 Speaker 2: sound too fancy. 15 00:00:40,680 --> 00:00:42,800 Speaker 1: And then went up to New York with I saw 16 00:00:42,800 --> 00:00:44,760 Speaker 1: your brother with your two oldest. 17 00:00:44,479 --> 00:00:48,080 Speaker 2: Yeah that was great. Actually this is kind of cool. 18 00:00:48,760 --> 00:00:52,360 Speaker 2: My weird reflections from the trip. So we biked around 19 00:00:52,400 --> 00:00:53,000 Speaker 2: Central Park. 20 00:00:53,680 --> 00:00:55,040 Speaker 1: Did you like run a bike? Yeah? 21 00:00:55,120 --> 00:00:58,840 Speaker 2: Yeah, yeah. But we're going on the Upper West Side 22 00:00:59,360 --> 00:01:02,040 Speaker 2: and I noticed at one point there's like one hundred 23 00:01:02,080 --> 00:01:04,919 Speaker 2: people there doing it with us, just like complete strangers. 24 00:01:05,640 --> 00:01:07,759 Speaker 2: And my kids were having They're only ten and eleven, 25 00:01:07,840 --> 00:01:09,640 Speaker 2: So if you was actually like super afraid of it 26 00:01:09,680 --> 00:01:11,800 Speaker 2: because it's like you have all these like professional writers, 27 00:01:11,800 --> 00:01:15,880 Speaker 2: like like right, and you're on Rento bikes. Yeah, you're 28 00:01:15,920 --> 00:01:19,840 Speaker 2: going like down these big hills. Uh, But it just 29 00:01:19,840 --> 00:01:22,600 Speaker 2: felt so cool doing that with this communist strangers. Then 30 00:01:22,640 --> 00:01:25,759 Speaker 2: similarly at Cat's Deli, which is like the best place 31 00:01:25,800 --> 00:01:28,880 Speaker 2: to eat in New York for twenty bucks, and you're 32 00:01:28,920 --> 00:01:31,440 Speaker 2: just enjoying this like pistromi sandwich, like a few hundred 33 00:01:31,480 --> 00:01:35,280 Speaker 2: strangers and everybody's just like loving themselves and I don't know, 34 00:01:35,319 --> 00:01:38,119 Speaker 2: they're just full simple things. But like having a shared 35 00:01:38,120 --> 00:01:41,200 Speaker 2: experience with a bunch of strangers, it was really cool. 36 00:01:41,640 --> 00:01:44,880 Speaker 1: And in the biggest city in our country, that's very 37 00:01:44,959 --> 00:01:48,560 Speaker 1: very cool. Yeah, that's not about I'm glad your daughter's 38 00:01:48,600 --> 00:01:52,000 Speaker 1: got to experience. That's pretty cool, all right, everybody, Shop 39 00:01:52,000 --> 00:01:54,400 Speaker 1: Talk number sixty when we get back from the break, 40 00:01:54,880 --> 00:01:59,000 Speaker 1: it's gonna be about somebody who took an interest in 41 00:01:59,080 --> 00:02:03,320 Speaker 1: me and what an idiot? Huh? 42 00:02:03,360 --> 00:02:03,920 Speaker 2: What an idiot? 43 00:02:04,040 --> 00:02:05,880 Speaker 1: Yeah? What an idiot? He took an interest in me 44 00:02:06,560 --> 00:02:11,840 Speaker 1: and he passed away recently. And I want to share 45 00:02:11,919 --> 00:02:14,960 Speaker 1: with you guys in shop talk since we're just sitting 46 00:02:14,960 --> 00:02:19,440 Speaker 1: around the shop. Some of my perspectives of a man 47 00:02:19,520 --> 00:02:22,919 Speaker 1: who's changed the world, who I got to become friends with. 48 00:02:23,880 --> 00:02:37,239 Speaker 1: Right after these brief messages from our general sponsors, everybody 49 00:02:37,240 --> 00:02:43,400 Speaker 1: but Courtney welcome back. Shop Talk number sixty. Saturday, June 50 00:02:43,480 --> 00:02:48,040 Speaker 1: twenty first, Fred Smith passed away. I think it was 51 00:02:48,080 --> 00:02:55,440 Speaker 1: eighty one, eighty eighty yeah, And I guess the only 52 00:02:55,520 --> 00:02:58,960 Speaker 1: good thing about it is, according to I've spoken to 53 00:02:59,040 --> 00:03:04,640 Speaker 1: some of his family, was quick. Fred Smith is the 54 00:03:04,720 --> 00:03:15,840 Speaker 1: founder of FedEx. Fred Smith was a devoted father, husband, 55 00:03:16,960 --> 00:03:19,919 Speaker 1: chief executive officer and founder of a company that has 56 00:03:20,000 --> 00:03:26,600 Speaker 1: changed the way the world does business. He was a marine, 57 00:03:26,960 --> 00:03:34,360 Speaker 1: he loved football, and most important to people around my parts, 58 00:03:34,400 --> 00:03:39,360 Speaker 1: he's probably the most important Memphian ever ever ever be 59 00:03:39,400 --> 00:03:42,960 Speaker 1: in our city. And you know, for those outside of Memphis, 60 00:03:43,320 --> 00:03:47,040 Speaker 1: you may not know that. Clarence Saunders, the man who 61 00:03:47,120 --> 00:03:52,160 Speaker 1: invented the modern supermarket. It was called Pickley Wiggley, but 62 00:03:52,320 --> 00:03:54,880 Speaker 1: Kroger and the way everybody shops nowa days, that was 63 00:03:54,920 --> 00:04:02,200 Speaker 1: actually started here in Memphis. AutoZone, the company that revolutionized 64 00:04:02,200 --> 00:04:05,480 Speaker 1: the way do it yourself is get auto parts, bit 65 00:04:05,600 --> 00:04:09,400 Speaker 1: high that was started here in Memphis. Termin X terminites 66 00:04:09,760 --> 00:04:14,280 Speaker 1: all that started here in Memphis. The way we travel 67 00:04:14,920 --> 00:04:20,640 Speaker 1: was completely changed by Mmins Wilson started here in Memphis. 68 00:04:20,880 --> 00:04:21,400 Speaker 2: Holiday Inn. 69 00:04:22,320 --> 00:04:22,920 Speaker 1: What did I say? 70 00:04:23,360 --> 00:04:24,200 Speaker 2: You just didn't say. 71 00:04:24,040 --> 00:04:27,360 Speaker 1: It, Holiday Inn, right, the founder of Holiday Inn, which 72 00:04:27,960 --> 00:04:30,880 Speaker 1: now the Marriotte, the Hilton, the Hampton in pretty much 73 00:04:31,320 --> 00:04:35,480 Speaker 1: the way everybody travels now was revolutionized by this idea 74 00:04:35,520 --> 00:04:37,600 Speaker 1: of the Holiday Inn that was started here in Memphis. 75 00:04:37,640 --> 00:04:41,600 Speaker 1: So I could go on and on, but AI coming up, 76 00:04:42,000 --> 00:04:45,840 Speaker 1: XI coming up. That's in Memphis. I could go on 77 00:04:45,920 --> 00:04:49,200 Speaker 1: and on and on about there's something in the water 78 00:04:49,279 --> 00:04:55,640 Speaker 1: around Memphis about entrepreneurism and startup companies that have become 79 00:04:56,400 --> 00:05:01,760 Speaker 1: household names, and we Memphians are proud of that, but 80 00:05:02,040 --> 00:05:06,159 Speaker 1: none reaches the pinnacle that Fred Smith and FedEx have 81 00:05:06,240 --> 00:05:11,039 Speaker 1: reached in terms of not only its meager beginnings, but 82 00:05:12,320 --> 00:05:17,080 Speaker 1: what it has meant to our city, the state, and 83 00:05:17,240 --> 00:05:22,640 Speaker 1: the world and the way we do business. When I 84 00:05:22,680 --> 00:05:26,039 Speaker 1: got to meet mister Smith, it was simply because he's 85 00:05:26,040 --> 00:05:30,800 Speaker 1: a huge football fan, and Mike Ray, my very close buddy, 86 00:05:31,320 --> 00:05:35,880 Speaker 1: who was the offensive line coach, had Oc Brown living 87 00:05:35,920 --> 00:05:38,440 Speaker 1: with him to help him get tutored for his act 88 00:05:38,680 --> 00:05:41,320 Speaker 1: so he could qualify to get a scholarship for football 89 00:05:42,120 --> 00:05:46,320 Speaker 1: and sixty Minutes actually to do a segment on it. 90 00:05:47,120 --> 00:05:51,159 Speaker 1: And I remember Robin Roberts sitting in Mike's living room 91 00:05:51,240 --> 00:05:55,160 Speaker 1: talking to Mike and OC and thinking, how surreal is this. 92 00:05:55,240 --> 00:05:57,560 Speaker 1: We're just coaching football and sixty Minutes is down here 93 00:05:57,600 --> 00:06:00,000 Speaker 1: talking about this is long before Undefeated or the movie 94 00:06:00,160 --> 00:06:04,320 Speaker 1: or any of that. And Mike worked for FedEx. He 95 00:06:04,480 --> 00:06:08,720 Speaker 1: was a salesperson for custom Critical Division, and out of 96 00:06:08,720 --> 00:06:12,800 Speaker 1: the blue, one day, Mike gets an email from his 97 00:06:12,880 --> 00:06:15,360 Speaker 1: boss that says, hey, Fred Smith wants to have lunch 98 00:06:15,360 --> 00:06:19,039 Speaker 1: with you. And of course Mike's first response was, you know, whatever, 99 00:06:19,160 --> 00:06:20,880 Speaker 1: screw you get out of here, because he thought it 100 00:06:20,880 --> 00:06:21,320 Speaker 1: was a joke. 101 00:06:22,080 --> 00:06:26,960 Speaker 2: I mean, you know, and for context, we should have 102 00:06:27,000 --> 00:06:30,040 Speaker 2: said this earlier at the employee five hundred thousand people. Yeah, 103 00:06:30,080 --> 00:06:32,200 Speaker 2: which is an amazing contribution to the world. But also 104 00:06:32,240 --> 00:06:33,440 Speaker 2: why you think it would be a joke. 105 00:06:33,720 --> 00:06:36,320 Speaker 1: Yeah, that's right. And then the guy said, no, I'm serious. 106 00:06:36,440 --> 00:06:38,760 Speaker 1: Fred wants to have lunch with you and wants to 107 00:06:38,760 --> 00:06:41,640 Speaker 1: have lunch with your buddy Bill. So we went to 108 00:06:41,680 --> 00:06:45,200 Speaker 1: lunch with Fred, which was you know, I mean, how 109 00:06:45,200 --> 00:06:47,120 Speaker 1: often do you get to have lunch with one of 110 00:06:47,120 --> 00:06:52,080 Speaker 1: the more powerful CFOs CEOs in the world. So it 111 00:06:52,120 --> 00:06:55,839 Speaker 1: was just an honor. And actually he took our numbers 112 00:06:56,000 --> 00:06:59,120 Speaker 1: and he kept in touch with me. And when I 113 00:06:59,120 --> 00:07:03,359 Speaker 1: wrote my book Against the Grain, there's a chapter that 114 00:07:03,520 --> 00:07:07,279 Speaker 1: has a lot to do with the perspectives and lessons 115 00:07:07,279 --> 00:07:10,080 Speaker 1: that I've learned from him, and he would agreed. He 116 00:07:10,360 --> 00:07:13,360 Speaker 1: rarely did interviews, and he agreed to be interviewed, and 117 00:07:13,400 --> 00:07:16,920 Speaker 1: I spent hours with him on that. And that's really 118 00:07:16,920 --> 00:07:19,640 Speaker 1: what I'm talking is, I want to share with you 119 00:07:19,720 --> 00:07:25,440 Speaker 1: guys three things that I learned from the late great 120 00:07:25,560 --> 00:07:29,560 Speaker 1: Fred Smith. I can't believe I'm actually I'm starting to 121 00:07:29,560 --> 00:07:32,480 Speaker 1: tear up a little bit thinking about it, because here's 122 00:07:32,520 --> 00:07:36,160 Speaker 1: this powerful guy. I mean, he was asked by three 123 00:07:36,320 --> 00:07:41,040 Speaker 1: different presidents to serve as Secretary of Defense, one Democrat 124 00:07:41,080 --> 00:07:47,920 Speaker 1: and two Republicans. This is a powerful man who took 125 00:07:48,080 --> 00:07:53,640 Speaker 1: time to care about me and other people in our community. 126 00:07:55,280 --> 00:07:58,200 Speaker 1: Just an incredible man. But the first thing that I 127 00:07:58,280 --> 00:08:05,400 Speaker 1: learned from him is he hates the story that he 128 00:08:05,640 --> 00:08:11,640 Speaker 1: failed that he got an f on his He wrote 129 00:08:11,760 --> 00:08:16,120 Speaker 1: a paper about fed X as an idea before he 130 00:08:16,200 --> 00:08:19,520 Speaker 1: started it in the in the world out there, says 131 00:08:20,280 --> 00:08:24,560 Speaker 1: there's this there's this folklore story that fed X was 132 00:08:24,600 --> 00:08:28,040 Speaker 1: started off of a term paper. He wrote that he 133 00:08:28,160 --> 00:08:30,440 Speaker 1: was failed in he was not failed. He got to 134 00:08:30,480 --> 00:08:35,240 Speaker 1: be minus. But it is true that his uh, his 135 00:08:35,360 --> 00:08:39,120 Speaker 1: professor thought his idea was stupid, but he did not fail. 136 00:08:39,720 --> 00:08:42,640 Speaker 1: He also hates the folk little story that at one 137 00:08:42,679 --> 00:08:46,960 Speaker 1: time they flew a fed ex plain to Vegas and 138 00:08:47,080 --> 00:08:49,520 Speaker 1: wagered all the money they have left to make payroll. 139 00:08:49,920 --> 00:08:52,920 Speaker 1: He said, that is a fabrication and a complete lie. 140 00:08:53,520 --> 00:08:55,560 Speaker 1: He said, I did, however, like to go to Vegas 141 00:08:55,600 --> 00:08:59,040 Speaker 1: and play black jack, but he never dambled the company 142 00:08:59,040 --> 00:09:03,200 Speaker 1: on it. And if you knew him better, you would 143 00:09:03,280 --> 00:09:07,360 Speaker 1: understand why that story doesn't even fit the persona because 144 00:09:07,400 --> 00:09:16,400 Speaker 1: the man is unbelievably detailed on organized, detailed and plans. 145 00:09:16,480 --> 00:09:20,200 Speaker 1: He would never have wagered anything that mattered on a 146 00:09:20,240 --> 00:09:23,559 Speaker 1: real that wheel. So one the first thing I want 147 00:09:23,600 --> 00:09:26,000 Speaker 1: to share with you guys is unfortunately a lot of 148 00:09:26,000 --> 00:09:29,680 Speaker 1: those pop culture stories out there are rooted in some 149 00:09:29,880 --> 00:09:33,720 Speaker 1: little fact but have manifested themselves over time into stories 150 00:09:33,760 --> 00:09:34,800 Speaker 1: that are patently false. 151 00:09:35,360 --> 00:09:38,920 Speaker 2: Did you know that I've heard pushback, but I was wondering, Yeah, 152 00:09:38,960 --> 00:09:40,040 Speaker 2: what the truth is or not? 153 00:09:40,280 --> 00:09:41,839 Speaker 1: Well? I just told you what the truth was, and 154 00:09:42,240 --> 00:09:44,280 Speaker 1: I'm not getting this from a second an source. The 155 00:09:44,320 --> 00:09:47,880 Speaker 1: man sat across from me at Gruzzani's on one of 156 00:09:47,880 --> 00:09:52,640 Speaker 1: our many lunches eating pasta, bitching about how much he 157 00:09:52,720 --> 00:09:53,839 Speaker 1: hated those stories. 158 00:09:54,440 --> 00:09:56,360 Speaker 2: Wonder story I heard, I wonder if it's true. Is 159 00:09:56,440 --> 00:09:58,600 Speaker 2: like they were. I think they were struggling though. 160 00:09:58,679 --> 00:09:59,880 Speaker 1: Oh I struggled early. 161 00:10:00,080 --> 00:10:02,559 Speaker 2: Yeah, and they had they had They had two or. 162 00:10:02,559 --> 00:10:06,920 Speaker 1: Three calls from shareholders that had they not stepped up, 163 00:10:06,960 --> 00:10:08,000 Speaker 1: they may not have made it. 164 00:10:08,120 --> 00:10:09,920 Speaker 2: And I think early on I did hear a story 165 00:10:09,960 --> 00:10:11,680 Speaker 2: that like some of the drivers were even paying their 166 00:10:11,720 --> 00:10:12,920 Speaker 2: own gas out of their own pocket. 167 00:10:13,080 --> 00:10:14,320 Speaker 1: That is absolutely but they. 168 00:10:14,160 --> 00:10:17,280 Speaker 2: Also tells you how much they actually believe in the company. 169 00:10:17,360 --> 00:10:20,560 Speaker 1: He traded stock options, he gave some people stop for 170 00:10:20,640 --> 00:10:23,240 Speaker 1: doing that. That is that is absolutely true. All right, 171 00:10:23,600 --> 00:10:26,360 Speaker 1: So that's one lots of falsehoods out there, but the 172 00:10:26,400 --> 00:10:30,400 Speaker 1: reality is those things. So now you know some inside 173 00:10:30,440 --> 00:10:37,480 Speaker 1: scoop number two. He did not start fed X to 174 00:10:37,559 --> 00:10:44,160 Speaker 1: move packages. That's one that everybody goes. Really, here's what happened. Oh, 175 00:10:44,240 --> 00:10:50,000 Speaker 1: it's computer parts, that's exactly right. Back in the late sixties, 176 00:10:50,600 --> 00:10:54,520 Speaker 1: the the used to be that banks had floors and 177 00:10:54,600 --> 00:11:01,680 Speaker 1: floors of human clerks entering, entering check and subtracting money 178 00:11:01,720 --> 00:11:05,200 Speaker 1: from accounts and keeping up with it just very I 179 00:11:05,240 --> 00:11:11,040 Speaker 1: mean behind right, files and files of paperwork. And IBM 180 00:11:11,440 --> 00:11:16,480 Speaker 1: started the supercomputer, which started at that time it had 181 00:11:16,480 --> 00:11:21,560 Speaker 1: the computing I mean the computers they built would take 182 00:11:21,679 --> 00:11:25,120 Speaker 1: up three stories of a building that had less computing 183 00:11:25,200 --> 00:11:27,320 Speaker 1: power than what each of us have on our phone 184 00:11:27,400 --> 00:11:30,720 Speaker 1: right now. But back then there were these massive, huge 185 00:11:30,880 --> 00:11:34,840 Speaker 1: machines literally took up two and three story buildings. But 186 00:11:35,120 --> 00:11:39,360 Speaker 1: they replaced all of these clerks, so it made sense 187 00:11:39,400 --> 00:11:41,640 Speaker 1: for banks, and it was faster and everything else. The 188 00:11:41,720 --> 00:11:45,160 Speaker 1: problem is when you have five hundred clerks do an 189 00:11:45,360 --> 00:11:48,440 Speaker 1: entry at Bank of America and five don't show up 190 00:11:48,440 --> 00:11:51,920 Speaker 1: for work, no big deal. But when you replace all 191 00:11:51,960 --> 00:11:55,040 Speaker 1: of these people with this massive computer and the computer 192 00:11:55,200 --> 00:12:00,640 Speaker 1: goes down, now banking collapses. So it was actually mister 193 00:12:00,720 --> 00:12:05,760 Speaker 1: Smith's idea originally that you would have to get parts 194 00:12:05,840 --> 00:12:10,640 Speaker 1: as the computer age started replacing human beings. If the 195 00:12:10,679 --> 00:12:15,160 Speaker 1: computer went down, commerce would stop, so it would be 196 00:12:15,200 --> 00:12:18,640 Speaker 1: imperative that you could get computer parts to the computer 197 00:12:18,800 --> 00:12:22,080 Speaker 1: to replace them overnight so that you would not have 198 00:12:23,600 --> 00:12:28,560 Speaker 1: disruption in the banking system. So he created fed X 199 00:12:29,640 --> 00:12:38,199 Speaker 1: to service this growing industrialization of computers in banking and finance, 200 00:12:39,080 --> 00:12:44,839 Speaker 1: in newspaper, anything that was daily and ongoing, and it 201 00:12:45,000 --> 00:12:52,560 Speaker 1: morphed into packages, and then it morphed into mail. Frankly, 202 00:12:54,000 --> 00:12:57,240 Speaker 1: so the truth is fed x was not about moving 203 00:12:57,280 --> 00:13:01,560 Speaker 1: packages originally. It's about moving compewter parts. But the same 204 00:13:02,559 --> 00:13:09,560 Speaker 1: dynamic that made that a successful business enterprise then made 205 00:13:10,280 --> 00:13:14,240 Speaker 1: the growth of the company applicable to all kinds of 206 00:13:14,280 --> 00:13:19,640 Speaker 1: other types of business, which I found vastly interesting. Another 207 00:13:19,679 --> 00:13:23,280 Speaker 1: thing along those lines is because he grew up in 208 00:13:23,400 --> 00:13:28,320 Speaker 1: Markssissippian was from this area. Everyone thinks that he just 209 00:13:28,360 --> 00:13:31,079 Speaker 1: put it in Memphis because it was centrally located. It's 210 00:13:31,120 --> 00:13:33,840 Speaker 1: also not the case. He did an enormous amount of 211 00:13:33,840 --> 00:13:40,000 Speaker 1: study and Memphis has the least amount of nighttime fog 212 00:13:40,880 --> 00:13:43,959 Speaker 1: of any city in the United States, which is why 213 00:13:44,640 --> 00:13:48,200 Speaker 1: FedEx is here. Because he knew planes would be leaving 214 00:13:48,440 --> 00:13:52,199 Speaker 1: and arriving and leaving during the late hours of the 215 00:13:52,320 --> 00:13:57,640 Speaker 1: night and early morning hours, and he wanted the best 216 00:13:57,760 --> 00:14:03,760 Speaker 1: weather conditions to reduced flight disruptions, and because Memphis had 217 00:14:03,880 --> 00:14:06,559 Speaker 1: the least amount of fog between hours of ten pm 218 00:14:06,640 --> 00:14:09,559 Speaker 1: and four am. That's why Memphis was the best place 219 00:14:09,559 --> 00:14:12,640 Speaker 1: for FedEx. That and only that was the main reason, 220 00:14:12,679 --> 00:14:14,439 Speaker 1: which I find vastly interesting. 221 00:14:14,520 --> 00:14:16,960 Speaker 2: I did not know that. Thanks for teaching me, Bill. 222 00:14:16,800 --> 00:14:19,840 Speaker 1: You're welcome. I'm not teaching anything. I'm just repeating some 223 00:14:19,920 --> 00:14:22,000 Speaker 1: things this guy told me over lunch one day that 224 00:14:22,080 --> 00:14:27,000 Speaker 1: I think is fascinating. The third thing, and probably the 225 00:14:27,040 --> 00:14:34,480 Speaker 1: most profoundly important. FedEx was very important mister Smith, but 226 00:14:34,640 --> 00:14:36,960 Speaker 1: it was not number one, and it was not number two. 227 00:14:37,800 --> 00:14:43,200 Speaker 1: He would always, without hesitation say that the most important 228 00:14:43,240 --> 00:14:46,280 Speaker 1: thing to him in his world was his family, and 229 00:14:46,360 --> 00:14:50,760 Speaker 1: number two was the Marine Corps, and number three was FedEx. 230 00:14:51,840 --> 00:14:57,040 Speaker 1: He served for the Marines during the Vietnam War, and 231 00:14:57,800 --> 00:15:04,120 Speaker 1: he was actually part of the mechanized division that did 232 00:15:04,200 --> 00:15:08,400 Speaker 1: an enormous amount of moving of equipment and supplies to 233 00:15:08,560 --> 00:15:12,120 Speaker 1: and from the troops, which is where he got an 234 00:15:12,240 --> 00:15:15,320 Speaker 1: enormous amount of experience in the hub and spoke idea, 235 00:15:15,840 --> 00:15:19,360 Speaker 1: which is in the military, they would bring everything into 236 00:15:19,400 --> 00:15:22,880 Speaker 1: a central area and then send it out to wherever 237 00:15:23,000 --> 00:15:25,600 Speaker 1: the parts were needed, and he found that to be 238 00:15:25,680 --> 00:15:31,000 Speaker 1: the most efficient way to move supplies, which is why 239 00:15:31,120 --> 00:15:35,720 Speaker 1: when he started fed X he hubbed everything in Memphis 240 00:15:35,760 --> 00:15:37,920 Speaker 1: and spoked it to the rest of the country, rather 241 00:15:38,000 --> 00:15:42,640 Speaker 1: than flying from New York Chicago, and then New York 242 00:15:42,680 --> 00:15:45,920 Speaker 1: to Philly and then Chicago to wherever, and then Dallast 243 00:15:45,960 --> 00:15:49,400 Speaker 1: or wherever. That's why everything comes into a central hub 244 00:15:50,120 --> 00:15:52,480 Speaker 1: in Memphis and then has spoke out to the rest 245 00:15:52,520 --> 00:15:56,240 Speaker 1: of the country because he learned that from this time 246 00:15:56,280 --> 00:15:59,480 Speaker 1: in the military, which I think is also really really 247 00:15:59,560 --> 00:16:04,040 Speaker 1: interesting that the concept came from his real life experience 248 00:16:04,080 --> 00:16:07,680 Speaker 1: as a marine. Another thing about is time in the 249 00:16:07,720 --> 00:16:13,600 Speaker 1: Marines is there was a man, Father Coppodanno. I encourage 250 00:16:13,600 --> 00:16:19,920 Speaker 1: you to google Father Coppodanno. Fred Smith served with Father 251 00:16:19,960 --> 00:16:28,000 Speaker 1: Coppodanno and even routinely visited Father Cappodano's grave on Stotton Island. 252 00:16:29,080 --> 00:16:30,600 Speaker 1: I'm not going to tell you the story of Father 253 00:16:30,640 --> 00:16:35,840 Speaker 1: Coppodano because this is Fred Smith. But know that this 254 00:16:36,080 --> 00:16:40,000 Speaker 1: titan of industry, this man that changed the world, almost 255 00:16:40,000 --> 00:16:45,840 Speaker 1: would never have a conversation about any influence on his 256 00:16:46,000 --> 00:16:49,760 Speaker 1: life without saying the name Father Coppodano. 257 00:16:50,560 --> 00:16:53,080 Speaker 2: We could say a couple of things quick, all right. 258 00:16:54,760 --> 00:16:58,240 Speaker 2: These guys smokes cigarettes together, Father Cappodano and Fred Smith. 259 00:16:58,680 --> 00:17:01,640 Speaker 2: They played black check together there, yep. Because of all this, 260 00:17:01,800 --> 00:17:04,560 Speaker 2: they called Father the grunt Padre because he was actually 261 00:17:04,600 --> 00:17:08,280 Speaker 2: a man of the people in there. And Father ended 262 00:17:08,320 --> 00:17:10,840 Speaker 2: up being shot several times in this battle, and I 263 00:17:10,880 --> 00:17:13,560 Speaker 2: think was finally killed and he got shot like twenty 264 00:17:13,560 --> 00:17:16,400 Speaker 2: six times, twenty six bullets in him. And he's one 265 00:17:16,400 --> 00:17:19,200 Speaker 2: of only four priests who ever received the Medal of Honor. 266 00:17:20,359 --> 00:17:23,040 Speaker 2: And Fred has said a couple interesting things like father 267 00:17:23,119 --> 00:17:26,080 Speaker 2: helped bring me back to my faith. He also had 268 00:17:26,119 --> 00:17:28,000 Speaker 2: some kind of quote like it also gave me the 269 00:17:28,040 --> 00:17:31,920 Speaker 2: courage to start FedEx. Like the currency in Vietnam is death. 270 00:17:32,000 --> 00:17:34,000 Speaker 2: The currency of starting a business is you fail and 271 00:17:34,040 --> 00:17:35,639 Speaker 2: you do something else, right, So. 272 00:17:35,560 --> 00:17:39,520 Speaker 1: A business style, Yeah. 273 00:17:38,119 --> 00:17:40,280 Speaker 2: It's so yeah, I mean hit a remarkable impact. And 274 00:17:40,400 --> 00:17:42,520 Speaker 2: as you mentioned, Billies, he sent me that email a 275 00:17:42,520 --> 00:17:44,520 Speaker 2: couple of years ago when I was I was trying 276 00:17:44,560 --> 00:17:45,920 Speaker 2: to get him to do an interview with me about 277 00:17:45,920 --> 00:17:48,960 Speaker 2: Father Cappadana and he said no because he rarely does interviews, but. 278 00:17:49,440 --> 00:17:50,719 Speaker 1: He almost never did. 279 00:17:51,240 --> 00:17:54,960 Speaker 2: Yeah, he did one with you, but he said that 280 00:17:55,200 --> 00:17:57,520 Speaker 2: thing of yeah, I go and visit his grave. That's 281 00:17:57,520 --> 00:17:59,639 Speaker 2: how much the man you know means to me. You know, 282 00:17:59,680 --> 00:18:02,080 Speaker 2: this millionaire the fact that he still has, you know, 283 00:18:02,119 --> 00:18:04,719 Speaker 2: this massive heart and even frankly, I've kept that email 284 00:18:04,760 --> 00:18:05,440 Speaker 2: for years and. 285 00:18:05,400 --> 00:18:09,879 Speaker 1: I would never I would print it and frame it 286 00:18:09,880 --> 00:18:12,960 Speaker 1: if I were Just the fact that he even responded to you, yeah. 287 00:18:12,840 --> 00:18:15,040 Speaker 2: Through nobody like me is just an amazing test. 288 00:18:15,240 --> 00:18:17,400 Speaker 1: That's just kind of how he was, you know. And 289 00:18:18,000 --> 00:18:20,120 Speaker 1: you know, he's got a son that coaches pro football, 290 00:18:20,200 --> 00:18:22,760 Speaker 1: He's got a daughter that produces movies. He's got a 291 00:18:22,800 --> 00:18:26,640 Speaker 1: son that's in the business. He's got grandchildren and children everywhere. 292 00:18:26,640 --> 00:18:29,160 Speaker 1: He's got grandchildren, have been in the naval academy. I mean, 293 00:18:29,200 --> 00:18:34,760 Speaker 1: he's he's this guy that's done all these things. But 294 00:18:34,840 --> 00:18:38,040 Speaker 1: at the end of the day, he has never quit 295 00:18:38,119 --> 00:18:41,520 Speaker 1: seeing himself as just a normal guy, a normal folk. 296 00:18:43,119 --> 00:18:49,520 Speaker 1: And he always was happy to invest in the city 297 00:18:50,160 --> 00:18:52,879 Speaker 1: and people doing good in the city. Invested in me, 298 00:18:53,160 --> 00:18:56,240 Speaker 1: invested in a lot of people. I know. He made many, many, 299 00:18:56,359 --> 00:19:03,480 Speaker 1: many many people millionaires through their business. He absolutely elevated 300 00:19:04,160 --> 00:19:07,320 Speaker 1: the lives of many people in the city and across 301 00:19:07,320 --> 00:19:13,080 Speaker 1: the world. He changed the way we do business. And 302 00:19:13,119 --> 00:19:17,040 Speaker 1: he did it all from Memphis while never forgetting his 303 00:19:17,160 --> 00:19:20,720 Speaker 1: roots of a guy from Marksmissippi who is a marine 304 00:19:21,440 --> 00:19:24,920 Speaker 1: who was loved by a guy named Father Cappadano, who 305 00:19:25,160 --> 00:19:29,840 Speaker 1: always had time for the normal guy like me. And 306 00:19:29,920 --> 00:19:32,120 Speaker 1: I think the world is a smaller place with him 307 00:19:32,160 --> 00:19:36,439 Speaker 1: not in it. And Saturday, June twenty first of twenty 308 00:19:36,480 --> 00:19:40,480 Speaker 1: twenty five will be a day that I just never 309 00:19:40,560 --> 00:19:44,280 Speaker 1: forget because, in my opinion, we lost one of the 310 00:19:44,280 --> 00:19:46,800 Speaker 1: more special people to ever walk the face this planet. 311 00:19:47,800 --> 00:19:54,480 Speaker 1: So shot talk number sixty is farewell to Fred Smith. 312 00:19:54,840 --> 00:20:01,880 Speaker 1: God speed and well done, mister Smith. You for your family, 313 00:20:02,080 --> 00:20:04,080 Speaker 1: for our city, for the state, and for the world. 314 00:20:05,600 --> 00:20:09,879 Speaker 1: You will be missed. That's shopped all number sixty Alex 315 00:20:09,960 --> 00:20:10,560 Speaker 1: anything else? 316 00:20:11,240 --> 00:20:12,600 Speaker 2: I think a little known fact. He was one of 317 00:20:12,640 --> 00:20:14,159 Speaker 2: the producers of The blind Side too, right? 318 00:20:14,840 --> 00:20:21,119 Speaker 1: Uh, maybe I do know this. Do you remember the 319 00:20:21,119 --> 00:20:30,240 Speaker 1: movie Tom Hanks lost, not lost? What was Castaway? Yeah? 320 00:20:30,720 --> 00:20:33,560 Speaker 1: Everybody at FedEx did not want him to do that movie. 321 00:20:34,600 --> 00:20:35,280 Speaker 1: Do you want to know why? 322 00:20:35,960 --> 00:20:38,320 Speaker 2: Yeah? Smith was a major investor in Al Khan Entertainment, 323 00:20:38,359 --> 00:20:39,480 Speaker 2: which produced The blind Side. 324 00:20:39,560 --> 00:20:42,399 Speaker 1: There you have it. Do you know why? Do you 325 00:20:42,440 --> 00:20:44,160 Speaker 1: know why they didn't want him to do Castaway? 326 00:20:44,200 --> 00:20:45,680 Speaker 2: Because there was a package that was lost? 327 00:20:45,760 --> 00:20:50,679 Speaker 1: Right? No, because because it was a FedEx plane that 328 00:20:50,760 --> 00:20:55,240 Speaker 1: wrecked and went down ocean. Like nobody no airline wants 329 00:20:55,280 --> 00:20:58,480 Speaker 1: to do a movie about their plane wrecking in the ocean. 330 00:20:58,840 --> 00:21:01,159 Speaker 1: He said, I don't care. And he and Tom Hanks 331 00:21:01,200 --> 00:21:06,439 Speaker 1: came really close buddies after that, And when mister Smith 332 00:21:06,600 --> 00:21:10,840 Speaker 1: wanted to raise some money for something some years later, 333 00:21:10,880 --> 00:21:13,120 Speaker 1: he got Tom Hanks back. Tom came back and worked 334 00:21:13,160 --> 00:21:16,639 Speaker 1: with him on it. So he just far reaching guy, 335 00:21:17,440 --> 00:21:18,840 Speaker 1: really really amazing man. 336 00:21:18,920 --> 00:21:21,159 Speaker 2: And the reason I brought up The Blindside too is 337 00:21:21,240 --> 00:21:22,840 Speaker 2: I mean, not just this is a fun fact, but 338 00:21:22,880 --> 00:21:25,320 Speaker 2: it inspired thousands of people to adopt I mean it 339 00:21:25,359 --> 00:21:26,880 Speaker 2: was actually a really big deal. 340 00:21:26,960 --> 00:21:29,800 Speaker 1: A really really big deal. And you know the reason 341 00:21:29,840 --> 00:21:32,639 Speaker 1: he invested and I'm sure is miff for story, you know. 342 00:21:33,200 --> 00:21:41,359 Speaker 1: So that's it, mister Smith. I want to say mister 343 00:21:41,440 --> 00:21:45,679 Speaker 1: Smith was my friend, but I think he might have 344 00:21:45,760 --> 00:21:48,960 Speaker 1: considered me a friend, but I don't even consider myself. 345 00:21:53,920 --> 00:21:57,520 Speaker 1: I almost feel like it would be condescending for me 346 00:21:57,880 --> 00:22:00,159 Speaker 1: to say to mister Smith he was my friend and 347 00:22:00,200 --> 00:22:04,000 Speaker 1: maybe a mentor. I don't know, some I don't even 348 00:22:04,040 --> 00:22:08,800 Speaker 1: know what the word is, but certainly someone I had 349 00:22:08,960 --> 00:22:12,119 Speaker 1: enormous my respect for. And I think we'll be missed. 350 00:22:12,160 --> 00:22:15,440 Speaker 1: And so shop talk at number sixty is a farewell 351 00:22:16,640 --> 00:22:20,320 Speaker 1: to a very good man, Fred Smith. Saturday, June twenty first, 352 00:22:20,720 --> 00:22:24,040 Speaker 1: twenty twenty five will be a day that this world 353 00:22:24,920 --> 00:22:28,480 Speaker 1: will be known for having lost a really, really good 354 00:22:28,520 --> 00:22:31,879 Speaker 1: human being. And believe it or not, despite the fact 355 00:22:32,080 --> 00:22:35,280 Speaker 1: he's a billionaire and all of the things, he still 356 00:22:35,280 --> 00:22:38,000 Speaker 1: saw himself as a member of the army of normal folks. 357 00:22:38,320 --> 00:22:41,320 Speaker 1: And that's maybe what's most beautiful about the guy. 358 00:22:42,680 --> 00:22:44,760 Speaker 2: And if you have tribute to other people, that's a 359 00:22:44,800 --> 00:22:46,520 Speaker 2: good plug for that people. Yeah, that you want to 360 00:22:46,560 --> 00:22:48,239 Speaker 2: pay tribute to in your life, and then a lot 361 00:22:48,320 --> 00:22:51,000 Speaker 2: to you. Email us at Army and normal Folks out 362 00:22:51,040 --> 00:22:53,000 Speaker 2: us or billet normal Folks out us and we'd love 363 00:22:53,040 --> 00:22:53,800 Speaker 2: to look at it. 364 00:22:54,000 --> 00:22:56,879 Speaker 1: That's right, rad Us review Us, subscribe to the podcast, 365 00:22:56,960 --> 00:22:59,040 Speaker 1: all that other stuff that we always ask you to do. 366 00:22:59,160 --> 00:23:02,440 Speaker 2: Please do it feels inappropriate after paying tribute to Freendsmith. 367 00:23:02,560 --> 00:23:05,520 Speaker 1: I know it does, but you know whatever, he was 368 00:23:05,560 --> 00:23:07,640 Speaker 1: also one hell of a marketer, so I don't think 369 00:23:07,680 --> 00:23:13,400 Speaker 1: you'd mind. That's it. Chap top number sixty. Rest in peace, 370 00:23:13,440 --> 00:23:14,000 Speaker 1: friend Smith.