USPS' finances are solid, CFO says
Article Abstract:
The U.S. Postal Service's chief financial officer, Richard Porras, assures that the postal service's finances remain solid. Net income as of May 22, 1998 has hit $1.4 billion through the first nine accounting periods of its fiscal year. However, the agency lost $177 million in accounting period 10 and $147 million in accounting period 11. USPS reportedly earns more during the fall mailing season and the Christmas season, which takes place in the first two quarter of its fiscal year. Meanwhile, the USPS board has approved money for capital investments to be used to improve mail delivery for many direct mailers. The capital funding budget is $17 billion, to be spent over a five-year period.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1998
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USPS gears up for fall mailing season
Article Abstract:
The U.S. Postal Service is currently working on a planning program to prepare for the fall mailing season. While the postal service regularly prepares for the upcoming season with similar programs, this is the first time USPS will have its plans ready early, with all activities slated to be finished by July 17, 1998. Efforts will be focused more on the movement of Standard-A catalog and advertiser mail, which was delayed at bulk-mail centers and sectional facilities last fall. Focus will also be given to First Class, Standard B, Priority Mail and Periodicals. The program aims to rectify the problems experienced in fall of 1997 as well as improve postal service.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1998
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USPS sees improvement in financial results
Article Abstract:
The US Postal Service (USPS) announced initial, positive results from a number of cutbacks and other management initiatives implemented earlier in 1999, despite reporting a net loss for the close of its Accounting Period 10 that ended on Jun 18, 1999. The service lost $103 million, which was considerably below the quasi-government organization's projected loss of $279 million. USPS CFO Richard Porras is confident that its net income objective of $200 million a year will soon be achieved.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1999
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