Secondary sanctions on Russia will create 'great deal of backlash', says fmr. Sec. of Commerce
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Yahoo
2 hours ago
- Yahoo
FedEx founder Fred Smith honored in Memphis: 'He changed the world'
AutoZone founder Pitt Hyde held a close friendship with late FedEx founder Fred Smith for much of his life. Hyde described him as a 'renaissance man" and said he was always impressed with how well-read Smith was — his ability to talk economics, diplomacy and military ethics as easily as 'a FedEx balance sheet." "(Fred) was the most influential person in Memphis history," Hyde said. "He did nothing less than invent global commerce. He didn't just change Memphis, he changed the world." Hyde was one of several speakers who praised and recounted stories about Smith during a celebration of life event at FedExForum in Downtown Memphis on Aug. 11. HONORING FRED SMITH: Watch FedEx St. Jude Championship honor Fred Smith with flyover after round paused for moment of silence FedEx hosted the event that was open to the public to celebrate the life of Smith on what would have been his 81st birthday. Smith died of natural causes on June 21 in Memphis. He was 80. For the majority of his tenure, Smith served as chairman and CEO of FedEx, which he crafted into one of the largest shipping companies in the world, now worth tens of billions of dollars. Smith's profound effect on Memphis and the business world at large was reflected not just in the speakers' messages but in the crowd that turned out for the event — by 9:30 a.m., the arena was already halfway full. The event kicked off at 10 a.m. As people filed in, images of Smith throughout the years were shown on screen alongside tribute posts from those who knew and respected him. Several speakers honored the FedEx founder, who is credited with transforming not only the logistics industry but also the city of Memphis, including U.S. Congressmen Steve Cohen and David Kustoff and former ALSAC CEO Richard Shadyac Jr. Memphis Mayor Paul Young was seen arriving early, as was former Secretary of State John Kerry, a classmate of Smith's at Yale, and PGA Commissioner Jay Monahan. (The FedEx St. Jude Championship wrapped up Aug. 10 at TPC Southwind in Memphis.) Young presented a key to the city to the Smith family during the ceremony and announced Aug. 11 as "Fred W. Smith Day." 'Throughout his 50 years' guiding FedEx, he gave Memphis wings," Young said. "He made the impossible seem inevitable.' In conjunction with the "Fred W. Smith Day" announcement, Raj Subramaniam, FedEx president and CEO, said Aug. 11 would be a day of service each year for the company. FedEx will additionally donate $1 million to the FedEx Founder's Fund for grants to help veterans launch new businesses. Richard Smith, Fred Smith's son and a FedEx executive, reassured Memphians that FedEx isn't going anywhere. "We will continue to be here for Memphis and into the future just like my old man would want," Smith said. Subramaniam shared a few of the many stories he has of his mentor and friend. The two once visited Hawaii and toured the USS Arizona. Subramaniam said Smith, who kept answering all of their tour guide's questions, was jokingly told by the guide to stop the tour, they spoke with the guide and learned that his sister was going to the University of Memphis, Smith gave him his card and told him if his sister needed anything after graduation, she could reach out to him. He also, on the spot, made a $10,000 donation to the museum in the tour guide's honor. "That was Fred," Subramaniam said. "Always humble, always generous and always looking to improve this city." REMEMBERING FRED SMITH: Fascinating facts about FedEx founder Fred Smith: From A (Alcon) to Z (Zebra) Pastor Tim Bowers said that while FedEx spans every corner of the globe, Smith's heart would always be in Memphis. "You delivered something far better than packages," Bowers said. "You delivered hope and possibility to the world." R. Brad Martin, FedEx's chairman of the board, said Smith was the most significant citizen in the more than 200-year history of Memphis, a city which Smith always considered home. (Smith was born in Marks, Mississippi, and moved to Memphis as a boy.) U.S. Sen. Marsha Blackburn said among Smith's contributions was the significant role he played in the creation and funding of the National World War II Memorial in Washington, D.C. 'His service changed the lives of many in Memphis and across the globe," she said. Throughout the event, multiple biographical montages played, narrated by Morgan Freeman and Tom Hanks. Hanks played a FedEx employee in the partly made-in-Memphis hit movie "Cast Away," in which Smith made a cameo. Meanwhile, Cohen noted the huge impact Smith had on the Memphis Zoo, and the effort to transport pandas across the globe. He said Smith's $10 million donation to the zoo was the highest donation ever at the time. University of Memphis President Bill Hardgrave said that Smith, ever a proponent of Memphis' excellence, was working behind the scenes to help Memphis get into the Big 12 conference by making phone calls and writing letters around the time of his death. Like others, Kustoff remarked on the strong ties the Smith forged between FedEx and the city of Memphis. "FedEx wasn't just a company," he said. "If you lived here and made your life here, you knew what it meant. FedEx wasn't just in Memphis, but FedEx was Memphis." Shadyac Jr. said Smith was 'a lover of humanity' and recalled a few of his many charitable contributions, including the FedEx St Jude PGA tournament's generation of more than $80 million for St. Jude. Shadyac is looking to continute that legacy. One of the last calls he had with Smith was about pediatric cancer in Vietnam. Smith, during a visit, learned how survival rates are less than 20% in the southeast Asian country, whereas at St. Jude 80% survive through proper care and treatment. That phone call has led to the creation of a delegation from St. Jude and FedEx, which will travel to Vietnam later in August to search for possible solutions. This article originally appeared on Memphis Commercial Appeal: FedEx founder Fred Smith honored in Memphis: How he was remembered Solve the daily Crossword
Epoch Times
4 hours ago
- Epoch Times
Trump Meets With Intel CEO After Calling for His Resignation Over Alleged China Link
President Donald Trump said he held a 'very interesting' meeting with Intel CEO Lip-Bu Tan on Aug. 11, days after he called for Tan's resignation over his alleged ties to Chinese companies with military backgrounds. In a post on Truth Social, Trump wrote: 'I met with Mr. Lip-Bu Tan, of Intel, along with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent. The meeting was a very interesting one.'
CNBC
5 hours ago
- CNBC
What to look for in Tuesday's Circle earnings
Owen Lau, Oppenheimer, joins 'Closing Bell Overtime' to talk what is ahead for Circle earnings and what he is keeping an eye on.
