How Fedex turned CEO turned company around after a gambling session - page 2.

LuanX3

hero member

Activity: 756

Merit: 505

Quote from: poplolnman on April 06, 2017, 06:59:08 PM

Quote from: erpbridge on April 06, 2017, 06:22:20 PM

Haha, was just reading this on the reddit front page a couple hours ago. It is amazing how he came back to win that much money. But it isn't a lesson that you should gamble in such situations. He had a lot of money to start with, and would probably would have lost it all if he had continued.

Gambling is not a way out of such situations.

it's an old story but some people might don't know yet about this weird and amazing story . it's indeed shouldn't be a motivation for anyone to gamble full of spirit because of this story. gambling are just gambling , where people actually stake money for entertainment reason or maybe for the sake of the greed to make money easily. gambling are not that good to help someone , a lot of case have contradictory story.

I agree, there is really something wrong with a person that gambles away his last remaining money expecting it to double up in casinos. He was lucky he didn't lost everything in the casinos, our luck is not all the same. The guy could have lost money he can't afford to lose and then we would have never seen fedex like it is today.

poplolnman

legendary

Activity: 1442

Merit: 1008

Quote from: erpbridge on April 06, 2017, 06:22:20 PM

Haha, was just reading this on the reddit front page a couple hours ago. It is amazing how he came back to win that much money. But it isn't a lesson that you should gamble in such situations. He had a lot of money to start with, and would probably would have lost it all if he had continued.

Gambling is not a way out of such situations.

it's an old story but some people might don't know yet about this weird and amazing story . it's indeed shouldn't be a motivation for anyone to gamble full of spirit because of this story. gambling are just gambling , where people actually stake money for entertainment reason or maybe for the sake of the greed to make money easily. gambling are not that good to help someone , a lot of case have contradictory story.

erpbridge

legendary

Activity: 954

Merit: 1000

Haha, was just reading this on the reddit front page a couple hours ago. It is amazing how he came back to win that much money. But it isn't a lesson that you should gamble in such situations. He had a lot of money to start with, and would probably would have lost it all if he had continued.

Gambling is not a way out of such situations.

everythingforsale

full member

Activity: 206

Merit: 100

Gambling ain't always the bad thing fellas:

http://www.businessinsider.com/fedex-saved-from-bankruptcy-with-blackjack-winnings-2014-7

FedEx, the world's first overnight delivery company, delivers more than 1.2 billion packages every year in over 220 countries. Yet, in its early days, founder Frederick Smith was so desperate, he had to rely on gambling in Vegas to fund his company.

When FedEx's funds dwindled to just $5,000, Smith realized he didn't have enough to fuel the planes. The company had already gone to many extremes, from pilots using their personal credit cards to fuel planes to uncashed paychecks.

So what's a desperate founder to do? Smith impulsively flew to Las Vegas and played blackjack with the last of the company money.

Amazingly, when he came back the next week, he had turned the remaining $5,000 into $27,000 — just enough for the company to stay in operation for another week.

Topic: How Fedex turned CEO turned company around after a gambling session - page 2. (Read 764 times)