Download or read book U S Postal Service Deteriorating Postal Finances Require Aggressive Actions to Reduce Costs written by Phillip Herr and published by DIANE Publishing. This book was released on 2009-12 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Dec. 2006, the USPS had just completed FY 2006 with its largest mail volume ever -- 213 billion pieces of mail and a net income of $900 million. Two years later, USPS's mail volume dropped almost 5% -- the largest single-year decline. USPS was facing a potential net loss of over $1 billion for FY 2008. USPS anticipated continued deterioration due to the econ. slowdown, as the financial, credit, and housing sectors are among its key bus. drivers. The shifts in transactions and messages from mail to electronic commun. and from advertising mail to electronic media have affected the USPS's financial situation. This testimony focuses on: (1) USPS's financial condition and outlook; and (2) options and actions for USPS to remain financially viable. Illus.

Download or read book U S Postal Service written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-05-17 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. Postal Service: Deteriorating Postal Finances Require Aggressive Actions to Reduce Costs

Download or read book U S Postal Service written by Phillip Herr and published by . This book was released on 2009 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book U S Postal Service Escalating Financial Problems Require Major Cost Reductions to Limit Losses written by Phillip Herr and published by DIANE Publishing. This book was released on 2009-11 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: USPS's financial condition has deteriorated. Mail volume declined by a record 9.5 billion pieces (4.5%) in FY 2008, leading to a loss of $2.8 billion -- the second largest since 1971. This was largely due to declines in the economy, esp. in the financial and housing sectors, as well as shifts in transactions, messages, and advertising from mail to electronic alternatives. Declining mail volume flattened revenues despite rate increases, while USPS's cost-cutting efforts were insufficient to offset the impact of declining mail volume and rising costs in fuel and cost-of-living allowances for postal employees. This testimony focuses on: (1) USPS's financial condition and outlook; and (2) options for USPS to remain financially viable in the short and long term. Illus.

Download or read book U S Postal Service Financial Crisis Demands Aggressive Action written by Phillip Herr and published by DIANE Publishing. This book was released on 2010-09 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service's (USPS) financial condition and outlook deteriorated significantly during FY 2009. USPS was not able to cut costs fast enough to offset declining mail volume and revenues resulting from the economic recession and changes in the use of mail, such as electronic bill payment. The USPS needs to restructure to improve its financial viability. Declines in mail volume and revenue, large financial losses, increasing debt, and financial obligations will continue to challenge USPS. This testimony provides: (1) info. on USPS's financial condition and forecast; and (2) the need for USPS restructuring. In addition, questions and issues are included for Congress to consider regarding USPS's proposal to reduce delivery from 6 to 5 days.

Download or read book U S Postal Service written by Phillip Herr and published by DIANE Publishing. This book was released on 2011-05 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service's (USPS) financial condition and outlook are deteriorating because revenues are not sufficient to cover its expenses and financial obligations. These challenges continue to threaten USPS's financial viability. USPS also faces cost pressures from maintaining a national network of processing, retail, and delivery operations. This testimony discusses: (1) updated information on USPS's financial condition and outlook; and (2) actions needed to modernize and restructure USPS. Charts and tables. This is a print on demand edition of an important, hard-to-find publication.

Download or read book U S Postal Service Restructuring Urgently Needed to Achieve Financial Viability written by Phillip Herr and published by DIANE Publishing. This book was released on 2010 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service¿s (USPS) financial condition has worsened since Jan. 2009, with the recession and changing mail use causing dramatic declines in mail volume and revenues despite postal rate increases. USPS expects these declines to lead to losses and cash shortfalls even if ambitious cost-cutting is achieved. USPS¿s business model has relied on growth in mail volume to cover costs, but USPS has not been able to cut costs fast enough to offset the accelerated decline in mail volume and revenue. This testimony: (1) updates USPS¿s financial condition and outlook and explains the decision to place USPS¿s financial condition on the High-Risk List; and (2) presents options and actions that the USPS can take. Charts and tables.

Download or read book U S Postal Service Broad Restructuring Needed to Address Deteriorating Finances written by Phillip Herr and published by DIANE Publishing. This book was released on 2010 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service's (USPS) financial condition has worsened this year, with the recession and changing mail use causing declines in mail volume and revenues despite postal rate increases. The USPS expects these declines to lead to a record net loss and an unprecedented cash shortfall even if ambitious cost cutting is achieved. Delivery accounts for nearly half of USPS salary and benefit costs. This testimony: (1) updates USPS's financial condition and outlook; and (2) discusses the need for USPS to restructure its mail processing, retail, and delivery networks and its efforts to improve their efficiency. Charts and tables.

Download or read book U S Postal Service written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Congress passed the Postal Accountability and Enhancement Act in December 2006, the U.S. Postal Service (USPS) had just completed fiscal year 2006 with its largest mail volume ever--213 billion pieces of mail and a net income of $900 million. Two years later, USPS's financial condition has deteriorated. Mail volume declined by a record 9.5 billion pieces (4.5 percent) in fiscal year 2008, leading to a loss of $2.8 billion--the second largest since 1971. According to USPS, this was largely due to declines in the economy, especially in the financial and housing sectors, as well as shifts in transactions, messages, and advertising from mail to electronic alternatives. Declining mail volume flattened revenues despite rate increases, while USPS's cost-cutting efforts were insufficient to offset the impact of declining mail volume and rising costs in fuel and cost-of-living allowances for postal employees. USPS's initial fiscal year 2009 budget expected that the turmoil in the economy would result in more mail volume decline and a loss of $3.0 billion. This testimony focuses on (1) USPS's financial condition and outlook and (2) options and actions for USPS to remain financially viable in the short and long term. It is based on GAO's past work and updated postal financial information. We asked USPS for comments on our statement. USPS generally agreed with the accuracy of our statement and provided technical comments, which we incorporated where appropriate.

Download or read book U s Postal Service written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-08 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service (USPS) is facing significant financial problems as mail volume is declining, 4.5 percent in fiscal year 2008 and 11 percent projected for fiscal year 2009. USPS lost $2.8 billion in fiscal year 2008 and projects a $6.4 billion loss in fiscal year 2009 (possibly more if it cannot cut an ambitious $5.9 billion in costs). As one way to cut costs, USPS is trying to improve the efficiency of mail delivery, which generates close to one-third of USPS's $78 billion in expenses. Recognizing the sizeable impact of delivery on USPS's finances and operations, you requested a GAO review. This report addresses (1) how USPS monitors delivery efficiency; (2) characteristics of delivery units that affect their efficiency; and (3) the status and results of USPS's actions to improve delivery efficiency, in particular USPS's Flats Sequencing System (FSS). To address these objectives, GAO interviewed stakeholders and USPS officials, reviewed delivery documentation, conducted fieldwork, and analyzed delivery data.

Download or read book U S Postal Service s Financial Condition written by Kevin R. Kosar and published by DIANE Publishing. This book was released on 2010-11 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of the U.S. Postal Service¿s (USPS) financial condition, recent legislation to alleviate the USPS¿s financial challenges, and issues for the 111th Congress. Since 1971, the USPS has been a self-supporting gov¿t. agency that covers its operating costs with revenues generated through the sales of postage and related products and services. Recently, the USPS has experienced significant financial challenges. Contents: (1) Background; (2) Financial Difficulties, FY 2006-09: (3) FY 2010 Financial Condition; (4) Issues for Congress: Increasing Revenues: Altering Postage Rates; Reducing Costs; Reducing Pension Costs; Reducing the USPS¿s Retail and Nonretail Facilities; Reducing Mail Delivery from 6 to 5 Days/Week. Illus.

Download or read book U S Postal Service written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service's (USPS) financial condition has worsened this year, with the recession and changing mail use causing declines in mail volume and revenues despite postal rate increases. GAO testified in May to this subcommittee that USPS expects these declines to lead to a record net loss and an unprecedented cash shortfall even if ambitious cost cutting is achieved. GAO reported that maintaining USPS's financial viability as the provider of affordable, high-quality universal postal service will require actions in a number of areas, such as (1) rightsizing its retail and mail processing networks by consolidating operations and closing unnecessary facilities and (2) reducing the cost and size of its workforce, which generates about 80 percent of its costs. Today GAO is releasing its report on USPS efforts to improve the efficiency of delivery. Delivery accounts for nearly half of USPS salary and benefit costs. This testimony (1) updates USPS's financial condition and outlook and explains GAO's decision to place USPS's financial condition on the High-Risk List and (2) discusses the need for USPS to restructure its mail processing, retail, and delivery networks and its efforts to improve their efficiency. It is based on GAO's past and ongoing work and updated USPS information.

Download or read book U s Postal Service written by U.s. Government Accountability Office and published by . This book was released on 2017-08-17 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: "U.S. Postal Service's (USPS) financial outlook has deteriorated as customers have shifted to electronic alternatives. Mail volumes have declined over 20 percent since fiscal year 2006 and are expected to continue declining. To help its financial outlook, in March 2010, USPS presented a detailed proposal to the Postal Regulatory Commission (PRC) to move from a 6-day to a 5-day delivery schedule. USPS projected this would save about $3 billion annually and reduce mail volume by less than l percent. This proposal factors in widespread changes to USPS's workforce and networks. USPS has also asked Congress to not include language in its annual appropriation requiring 6 day-a-week delivery.As requested, GAO assessed (1) USPS's cost and volume estimates and the operational impacts associated with its 5-day delivery proposal and (2) the trade-offs and other implications associated with this proposal. GAO reviewed USPS's proposal (including its assumptions, methodologies, and conclusions) and other information from the PRC's 5-day delivery proceeding, surveyed postal employee and mailer groups, and interviewed USPS officials and postal employee groups. Because GAO previously recommended that Congress consider providing financial relief to USPS, as well as other cost-saving options, this report contains..."

Download or read book U S Postal Service USPS written by Phillip Herr and published by DIANE Publishing. This book was released on 2011-06 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The USPS's financial outlook has deteriorated as customers have shifted to electronic alternatives. Mail volumes have declined over 20% since FY 2006 and are expected to continue declining. To help its financial outlook, in March 2010, USPS presented a detailed proposal to move from a 6-day to a 5-day delivery schedule. USPS projected this would save about $3 billion annually and reduce mail volume by less than l%. This proposal factors in widespread changes to USPS's workforce and networks. This report assessed: (1) USPS's cost and volume estimates and the operational impacts associated with its 5-day delivery proposal; and (2) the trade-offs and other implications associated with this proposal. Illus. A print on demand report.

Download or read book U s Postal Service written by U.s. Government Accountability Office and published by . This book was released on 2017-08-15 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Declines in mail volume have brought the U.S. Postal Service (USPS) to the brink of financial insolvency. Action to ensure its financial viability is urgently needed. Visits to post offices have also declined, and in an effort to cut costs, USPS is considering closing nearly half of its 32,000 post offices by 2015. In their place, alternatives to post offices, such as the Internet, self-service kiosks, and partnerships with retailers, are increasingly important for providing access to postal services. Retail alternatives also hold potential to help improve financial performance by providing services at a lower cost than post offices. As requested, this report discusses how (1) USPS's efforts to expand access through retail alternatives support its service and financial performance goals, (2) USPS communicates with the public about retail alternatives, and (3) USPS oversees its retail partners. To conduct this work, GAO analyzed USPS documents and data and interviewed USPS officials and stakeholders. GAO also interviewed operators of postal retail partnerships. "

Download or read book U S Postal Service written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-06 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: When GAO originally placed the U.S. Postal Service's (the Service) transformation efforts and long-term outlook on its high-risk list in early 2001, it was to focus urgent attention on the Service's deteriorating financial situation. Aggressive action was needed, particularly in cutting costs, improving productivity, and enhancing financial transparency. GAO testified several times since 2001 that comprehensive postal reform legislation was needed to address the Service's unsustainable business model, which assumed that increasing mail volume would cover rising costs and mitigate rate increases. This outdated model limited its flexibility and incentives needed to realize sufficient cost savings to offset rising costs, declining First-Class Mail volumes, unfunded obligations, and an expanding delivery network. This limitation threatened the Service's ability to achieve its mission of providing affordable, high-quality universal postal services on a self-financing basis. This testimony will focus on (1) why GAO recently removed the Service's transformation efforts and outlook from GAO's high-risk list, (2) the Service's financial condition in fiscal year 2007, (3) the opportunities and challenges facing the Service, and (4) major issues and areas for congressional oversight. This testimony is based on GAO's past work, review of the postal reform law, and updated information on the Service's financial condition.

Download or read book U S Postal Service Financial Challenges Continue with Relatively Limited Results from Recent Revenue Generation Efforts written by Phillip Herr and published by DIANE Publishing. This book was released on 2010-06 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service's (USPS) financial condition and outlook deteriorated significantly during FY 2009. USPS was not able to cut costs fast enough to offset declining mail vol. and revenues resulting from the economic downturn and changing mail use. USPS would not be able to make the $5.4 billion payment to prefund postal retiree health benefits that was due by the end of the year. This testimony: (1) updates USPS's financial condition and outlook; (2) describes changes made by the Postal Account. and Enhancement Act of 2006 that provided USPS with greater flexibility to generate revenues; (3) outlines USPS's revenue-generation actions and results using this flexibility; and (4) discusses options to generate increased revenues in the future.