FedEx Founder: Today's Regulations Make It 'Very Tough' To Start 'Industrial Company'

Frederick Smith, Founder and CEO of FedEx: "You know, Brett, one of the real untold stories is that FedEx is really a creature of the government getting out of business. When we first started the aviation business and the surface transportation business was heavily regulated. Beginning in 1973 and then acts in '77, '78, 1980, 1994 and then into the 21st century in the international arena, governments have steadily gotten out of the transportation business. So we may be the exception to the rule, but I think the thrust of the question is, 'Is it harder to start a business today?' And I don't think there's any question about the fact that it's much more difficult to start an industrial company today. It's much easier to start a software company. But the regulatory environment is very tough today."

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