In the beginning, Federal Express had 14 small aircraft operating out of the Memphis International Airport flying packages to 25 U.S. cities. ????? ???????  

Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured. ????????????  

The company also played a major role in the shift by American business and industry to a greater use of time-sensitive deliveries and less dependence on large inventories and warehouses. ?????  

Smith, a 1966 graduate of Yale University, used a business theory he came up with in college to create a delivery system based on coordinated air cargo flights centered on a main hub, a "hub and spokes" system, as it became known. ????? ???????  

Memphis, Tennessee-based FedEx grew into a global transportation and logistics company that averages 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. ????????????