Responding to the call for a doubling of exports over the next five years through the National Export Initiative, officials with the U.S. Postal Service and U.S. Department of Commerce are leveraging their strategic partnership to launch a business plan aimed at empowering American businesses interested in exporting as a pathway to growth. A partnership agreement signed at Postal Service headquarters today establishes an outreach strategy between representatives of the Department of Commerce's International Trade Administration and U.S. Commercial Service, and the Postal Service's Global Business team.
The U.S. Postmaster General is asking Congress to loosen requirements on the Postal Service, allowing it to scrap Saturday mail delivery and make other changes to stem a projected 10-year $238 billion deficit. Financial woes at the U.S. Postal Service are now so severe that without congressional action, it might not be able to pay all the bills coming due this year, Postmaster General John Potter said.
The USPS has damaged its image, and it needs to rehab it. It must create products marketers can grow with using direct mail, promote the heck out of them on a national and grassroots level, and it'll eventually get volume and revenue back.
The U.S. Postal Service (USPS) today filed its 2009 fiscal year-end financial results, showing a net loss of $3.8 billion for the year — despite cost-cutting efforts resulting in $6 billion in cost savings and a $4 billion reduction in required payments for retiree health benefits. Cost savings reflect a reduction of 40,000 career USPS employees as well as reductions in overtime hours, transportation and other costs. The $4 billion reduction in required retiree health benefit payments was passed into law for fiscal 2009 to allow USPS to maintain fiscal solvency while continuing to provide universal, affordable service to the nation.
Just when I thought it was safe to believe in the U.S. Postal Service, I find out this lovely tidbit of information: Despite Postmaster General John Potter's grand statement (or was it a grandstanding statement) that there'd be no postal rate increase in 2010, there's a giant loophole.
The U.S. Postal Service ended its second quarter (Jan 1 – March 31) with a net loss of $1.9 billion, as the economic recession and longer-term financial pressures, such as the diversion of letter mail to electronic alternatives, continued to reduce mail volume and revenue. Despite aggressive actions to reduce costs and grow revenue, the Postal Service will likely face a cash shortfall of over $1.5 billion at the end of the fiscal year.