FedEx Founder: I Couldn't Start Company with Today's Economy, Regulations
At an aviation conference today, the founder and CEO of FedEx suggested that he would not be able to create his delivery company in today’s regulatory climate. Frederick Smith, who started FedEx in Arkansas in 1971, told Fox News’s Bret Baier that his company is “a creature of the government getting out of the way of business” because regulations in the transportation industry were steadily rolled back after he founded it, which allowed his company to grow.
“I don’t think there’s any question about the fact that it’s much more difficult to start an industrial company today,” Smith added. “The regulatory environment is very tough today.”