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Issa proposes 'sweeping' reforms for USPS Post & Parcel Share    
Darrell Issa, the chairman of the powerful House Oversight Committee, said his Postal Reform Act would bring "sweeping, structural reforms" of the U.S. Postal Service to reduce its costs. But, while Issa would give USPS freedom to move to five-day delivery services, he would not allow reforms to pension and benefit funding arrangements, or access to multi-billion dollar pension surpluses. More
USPS reports $4.7 billion loss ending May — $1.8 billion more than same period last year Postal Reporter Share
The U.S. Postal Service filed its eighth month preliminary financial report of the 2011 fiscal year (unaudited) with the Postal Regulatory Commission. USPS reported a net operating loss of $1.3 billion for the month of May 2011. This same period last year saw a $642 million net loss. Total mail volume was 12,873,284 billion pieces, compared to 13,125,257 billion pieces in the same period a year earlier, a decrease of 1.9 percent. More Republican bill adds to postal red tape, warns struggling USPS Post & Parcel Share
The U.S. Postal Service has hit out at postal reform proposals from Republicans in the House of Representatives. USPS suggested that the bill from Reps. Darrell Issa and Dennis Ross was creating extra government bureaucracy that would slow progress in streamlining USPS operations. More
Postal Service cuts electricity use, increases petroleum needs Federal Times Share
The U.S. Postal Service has cut electricity use in its facilities, but it is using more petroleum to reach its expanding delivery points, according to the agency's 2010 sustainability report. The increase in petroleum use counters the service's goal to cut use 20 percent by 2015 over the 2005 baseline. Ronald Stroman, deputy postmaster general, said in a report that the rapid increase in points of delivery forces the Postal Service to use more fuel even while mail volume continues to shrink. More FedEx predicts strong growth in 2012 after jump in profits Post & Parcel Share
FedEx Corporation has reported a 33 percent improvement in its fourth quarter earnings thanks to improved demand, particularly in its U.S. ground services and international express shipments. And, it said expectations were for strong growth in its 2012 fiscal year. More USPS: Return $82 billion to sender Pensions & Investments Share
The U.S. Postal Service hopes Congress will deliver on the mail service's request to return as much as $82 billion it says it overpaid in pension contributions since 1972. USPS officials said in congressional hearings that the postal system needs the money for a $5.5 billion retiree health prepayment mandate and to help offset a projected $8 billion in operating losses this year. They also would like to stop the overfunding of their pension plans once and for all. More
Postal Service suspends FERS pension fund contributions Federal Times Share
The U.S. Postal Service will halt its pension fund contributions for employees covered under the Federal Employees Retirement System as a cost-cutting measure. The agency announced it can afford to halt the payment because it has a $6.9 billion surplus in employer contributions in the FERS pension account. The suspension will continue indefinitely. Halting the payments will free up $800 million this fiscal year, the Postal Service said. More US digital mail providers in push to attract consumers Post & Parcel Share
Digital postal mail providers in the United States are now beginning major publicity drives to get consumers to sign up for their services. The companies are particularly keen to chase the more than 80 percent of consumers still receiving and paying their bills through the physical mail. More |
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