00:00But then something unexpected happened. The company started losing money. It didn't matter
00:03how many packages they delivered or how satisfied their customers were. The bottom line was red.
00:08Fred knew that if he couldn't turn things around, the company would go bankrupt.
00:12So he took drastic measures. He laid off thousands of employees and cut costs wherever he could.
00:17It was a tough decision, but it was necessary if the company was going to survive.
00:21As time went on, things started looking up for the company. They began to turn a profit and
00:25Fred's hard work paid off. In 1978, just four years after it was founded, the company went public.
00:31Investors who had faith in Fred's leadership bought shares in the company, and soon enough
00:35it was one of the most successful businesses in the world. But Fred wasn't done yet. He still had
00:40more plans to expand the company and make it even more successful. Over the years,
00:44the company grew and evolved, offering new services and expanding to new markets.
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