Appendix Time Line for the Startup, 1971 to 1982

1971

  • May–June

    Fred Smith invests $500,000 of his and his sisters’ inheritance to launch Federal Express. He purchases two Falcons from Pan Am and takes out a $3.6 million bank loan.

  • July

    Smith proposes to transport checks for the Federal Reserve; after strong initial interest, the proposal is turned down.

  • November–December

Smith contacts White, Weld and Company for help in financing. Hires A. T. Kearney and AAPG to evaluate his concept. Signs a loan guarantee of $1.15 million for option to purchase twenty-three more Falcons from Pan Am.

1972

  • March–April

    Consultants complete studies. Smith secures bank loan to purchase eight used Falcons. Federal granted FAA operating certificate for air taxi operations. ...

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