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 written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-05-15 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. Postal Service: Restructuring Urgently Needed to Achieve Financial Viability

Download or read book U S Postal Service written by Phillip Herr and published by . This book was released on 2009 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 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 written by Phillip Herr and published by DIANE Publishing. This book was released on 2010-08 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Postal Accountability and Enhancement Act of 2006 required an evaluation of strategies and options for reforms of the U.S. Postal Service (USPS). USPS¿s business model is to fulfill its mission through self-supporting, businesslike operations; however, USPS has experienced increasing difficulties. Due to volume declines, losses, a cash shortage, and rising debt, the USPS was added to a high-risk list in July 2009. The objectives of this report were to assess: (1) the viability of USPS¿s business model; (2) strategies and options to address challenges to its business model; and (3) actions Congress and USPS need to take to facilitate progress toward financial viability. Includes recommendations. Charts and tables.

Download or read book U S Postal Service Action Needed to Facilitate Financial Viability Testimony Before the Committee on Oversight and Government Reform and Its Subcommittee on Federal Workforce Postal Service and the District of Columbia U S House of Representatives written by and published by DIANE Publishing. This book was released on with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book U S Postal Service Network Rightsizing Needed to Help Keep USPS Financially Viable 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: The recession accelerated declines in mail volume in FY 2008 and flattened revenues despite postal rate increases. That year, mail volume fell by 9.5 billion pieces, or 4.5%, and resulted in a net loss of $2.8 billion. USPS's financial condition has continued to deteriorate in the first 5 months of FY 2009, with accelerating declines in mail volume and financial losses. This testimony updates that info. and focuses on: (1) how USPS's financial viability is challenged given current economic conditions and whether USPS can cover its expenses and financial obligations; (2) USPS's opportunities to rightsize its retail and mail processing networks; and (3) what options and trade-offs need to be considered to address mail volume and revenue declines. 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 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 (USPS) continues to incur unsustainable operating deficits, has not made required payments of $11.1 billion to prefund retiree health benefits, and has reached its $15 billion borrowing limit. Thus far, USPS has been able to operate within these constraints, but now faces a critical shortage of liquidity that threatens its financial solvency and ability to finance needed capital investment. USPS had an almost 25 percent decline in total mail volume and net losses totaling $40 billion since fiscal year 2006. While USPS achieved about $15 billion in savings and reduced its workforce by about 168,000 over this period, its debt and unfunded benefit liabilities grew to $96 billion by the end of fiscal year 2012. USPS expects mail volume and revenue to continue decreasing as online bill communication and e-commerce expand.

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 High risk Series written by and published by . This book was released on 2009 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 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 and GAO has therefore retained USPS on its high risk list issued in February 2011. 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. It is based primarily on GAO's past and ongoing work, as well as GAO's review of USPS's recent financial results and the President's proposed budget for fiscal year 2012.

Download or read book U S Postal Service written by Gene L. Dodaro and published by . This book was released on 2013 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book U S Postal Service USPS written by Phillip Herr and published by DIANE Publishing. This book was released on 2011 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The USPS recently reported that its financial results for the first half of this fiscal year -- a net loss of $2.6 billion -- are worse than projected. USPS expects continued financial challenges as mail volume continues to decline. Most notable is the decline of First-Class Mail (its most profitable mail) by over 25 billion pieces, or about 25%, over the past decade. There have been reports on proposals to revise USPS pension and retiree health obligations, but such actions alone will not be sufficient to address the accelerating volume decline and changing use of the mail. This statement discusses: (1) why it is important to restructure USPS's networks; and (2) what actions are needed to facilitate additional progress. Illustrations. This is a print on demand report.

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 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. "