USPS Board Of Governors To Meet In Closed Session Jan. 10 and Jan. 11
TIMES AND DATES: 4 p.m., Monday, January 10, 2011; and 9 a.m., Tuesday, January 11, 2011.
PLACE: Long Beach, California, at the Renaissance Hotel, 111 East Ocean Boulevard.
STATUS: (Closed).
MATTERS TO BE CONSIDERED:
Monday, January 10, at 4 p.m. (Closed)
1. Financial Matters.
2. Pricing.
3. Strategic Issues.
4. Personnel Matters and Compensation Issues.
5. Governors’ Executive Session–Discussion of prior agenda items and Board Governance.
Tuesday, January 11, at 9 a.m. (Closed)
1. Continuation of Monday’s agenda.
CONTACT PERSON FOR MORE INFORMATION: Julie S. Moore, Secretary of the Board, U.S. Postal Service, 475 L’Enfant Plaza, SW., Washington, DC
20260-1000. Telephone (202) 268-4800.
USPS Board Of Governors To Meet In Closed Session Dec. 7
DATE AND TIME: Tuesday, December 7,2010, at 9 a.m.
PLACE: Washington, DC, at U.S. Postal Service Headquarters, 475 L’Enfant Plaza, SW.
STATUS: Closed.
MATTERS TO BE CONSIDERED: Tuesday,December 7, at 9 a.m.
(Closed)
1. Financial Matters.
2. Pricing.
3. Strategic Issues.
4. Personnel Matters and Compensation Issues.
5. Governors’ Executive Session—Discussion of prior agenda items and Board Governance.
CONTACT PERSON FOR MORE INFORMATION:
Julie S. Moore, Secretary of the Board,
U.S. Postal Service, 475 L’Enfant Plaza,
Postal Service Board Recognizes Postmaster General Potter
Filed under: board of governors, postal, postal news, press releases
Postal Service Maintains Exceptional Service Record
WASHINGTON — Today marked Postmaster General John E. Potter’s last appearance before the Postal Service Board of Governors in open session. Potter recently announced his plan to retire in December. In tribute to his distinguished career, the Board today honored Potter with the prestigious Benjamin Franklin Award.
In his remarks, Louis Giuliano, chairman of the Board of Governors, praised Potter, characterizing his tenure as “the presence of a strong, steady hand at the wheel.”
“The Board is enormously pleased to have had a leader like Postmaster General Potter at the helm during this critical time,” said Giuliano. “He led the Postal Service through some of the most consequential moments since its founding. From the aftermath of the September 11 attacks and anthrax incidents to numerous natural disasters, and from deep recession to unprecedented technological change, Jack steered the ship through uncharted waters with remarkable dedication and skill.”
The Board has selected Deputy Postmaster General Patrick Donahoe to become the next Postmaster General.
Other Board Matters
The Board welcomed Governor Dennis Toner to his first open session of the Board. Toner, of Rehoboth Beach, DE, was appointed by President Obama and confirmed by the Senate Sept. 16. And the Board bid farewell to Carolyn Gallagher who has been a member of the Board for the past 7 years. During her tenure, Gallagher served as both vice chairman and chairman of the Board.
Also at today’s board meeting, Lou Guiliano was re-elected chairman and Thurgood Marshall Jr. was re-elected vice chairman.
Consumer Advocate Report
In other news, Vice President and Consumer Advocate Delores Killette presented Service Performance and Customer Experience Measurement (CEM) reports for the fourth quarter of 2010.
* 96.7 percent of single-piece First-Class Mail in overnight service areas arrived on-time, an improvement of 0.4 compared to the same time a year ago.
* 94.8 percent of two-day service area single-piece First-Class Mail arrived on time, and
* 93.7 percent of three-day service area single-piece First-Class Mail arrived on time.
The Postal Service implemented the Customer Experience Measurement (CEM) program at the start of fiscal year 2010, replacing the Customer Satisfaction Measurement (CSM) program that has been in place since 1991. CEM scores reflect end-to-end customer experience across all channels.
From the CEM ratings:
* 86.8 percent of residential customers rated their experience as “very satisfied” or “mostly satisfied,” and
* 82.0 percent of small/medium businesses rated their experience as “very satisfied” or “mostly satisfied.”
Separately, Killette noted that the Ponemon Institute ranking of U.S. Brands Americans Like Best showed that the U.S. Postal Service is ranked 15 on the list of the 20 most liked-brands, the only delivery service ranked in the top 20.
The Postal Service receives no tax dollars for operating expenses, and relies on the sale of postage, products and services to fund its operations.
USPS Board Of Governors to Meet Next Thursday and Friday
DATES AND TIMES: Thursday, November 11, 2010, at 10:30 a.m.; and Friday, November 12, at 8:30 a.m. and 11:30 a.m.
PLACE: Washington, DC, at U.S. Postal Service Headquarters, 475 L’Enfant Plaza, SW., in the Benjamin Franklin Room.
STATUS: Thursday, November 11 at 10:30 a.m.–Closed; Friday, November 12 at 8:30 a.m.–Open; and at 11:30 a.m.–Closed
MATTERS TO BE CONSIDERED:
Thursday, November 11 at 10:30 a.m. (Closed)1. Strategic Issues
2. Financial Matters
3. Pricing
4. Personnel Matters and Compensation Issues
5. Governors’ Executive Session–Discussion of prior agenda items and Board Governance
WASHINGTON — The Board of Governors of the U.S. Postal Service will meet in open session Nov.12 at Postal Service headquarters, 475 L’Enfant Plaza, SW. The public is welcome to observe the meeting beginning at 8:30 a.m. in the Ben Franklin Room on the 11th floor. The Board is expected to discuss the following items:
Friday, November 12 at 8:30 a.m. (Open)1. Approval of Minutes of Previous Meetings
2. Remarks of the Chairman of the Board
3. Remarks of the Postmaster General and CEO
4. Committee Reports
5. Consideration of Fiscal Year 2010 10K, Financial Statements, and Postal Service Annual Report
6. Consideration of Fiscal Year 2011 Integrated Financial Plan
7. Consideration of Final Fiscal Year 2012 Appropriation Request
8. Consideration of Fiscal Year 2010 Comprehensive Statement and Annual Performance Plan
9. Quarterly Report on Service Performance
10. Tentative Agenda for the December 6-7, 2010, meeting in Washington, DC
11. Election of Chairman and Vice Chairman of the Board of Governors
Friday, November 12 at 11:30 a.m. (Closed–if needed)1. Continuation of Thursday’s closed session agenda
CONTACT PERSON FOR MORE INFORMATION: Julie S. Moore, Secretary of the Board, U.S. Postal Service, 475 L’Enfant Plaza, SW., Washington, DC 20260-1000. Telephone (202) 268-4800.
source: Federal Register
Senate Confirms Dennis J. Toner To USPS Board of Governors
Filed under: board of governors, postal, postal news, usps
On September 16, 2010, the Senate unanimously confirmed Dennis J. Toner, of Delaware, to be a Governor of the United States Postal Service for the remainder of the term expiring December 8, 2012. Mr. Toner will complete the unexpired term of Katherine C. Tobin, who resigned.
According to the White House:
Dennis J. Toner has directed policy, public and political affairs for over 30 years for then-Senator and now-Vice President Biden. He most recently served as Finance Director for Biden for President and Citizens for Biden. He spent the 30 years prior to that working for then-Senator Biden in his Senate office. He last held the position of Deputy Chief of Staff for the Senator from 1995 to 2005. He has also previously launched his own business, Horizon Advisors, which provides guidance and advice to private clients and non-profit organizations. He received his B.A. from the University of Delaware.
Dennis Toner will join other USPS Board of Governors:
Members of the Board of Governors
Louis J. Giuliano, Chairman
Thurgood Marshall, Jr., Vice Chairman
Mickey D. Barnett, Member
James H. Bilbray, Member
Carolyn Lewis Gallagher, Member
Alan C. Kessler, Member
James C. Miller III, Member
Ellen C. Williams, Member
USPS Board Of Governors Agenda For Next Week’s Closed Session
DATES AND TIMES: Tuesday, September 21, 2010, at 10 a.m.; and Wednesday, September 22, 2010, at 8:30 a.m.
PLACE: Washington, DC, at U.S. Postal Service Headquarters, 475 L’Enfant Plaza, SW.
STATUS: Closed.
MATTERS TO BE CONSIDERED:
Tuesday, September 21, at 10 a.m. (Closed)
1. Strategic Issues.
2. Pricing.
3. Financial Matters.
4. Personnel Matters and Compensation Issues.
5. Governors’ Executive Session–Discussion of prior agenda items and Board Governance.
Wednesday, September 22, at 8:30 a.m. (Closed)–if needed
Continuation of Tuesday’s agenda.
CONTACT PERSON FOR MORE INFORMATION: Julie S. Moore, Secretary of the Board, U.S. Postal Service, 475 L’Enfant Plaza, SW., Washington, DC 20260-1000. Telephone (202) 268-4800.
Julie S. Moore,
Secretary.
source: Federal Register
Postal Service Ends Third Quarter With $3.5 Billion Loss
Filed under: board of governors, postal, postal finances, postal news, press releases, usps
The fiscal 2010 year-to-date net loss is $5.4 billion
Cash Shortfall Likely in 2011; Customer Service Scores Remain High
WASHINGTON — The U.S. Postal Service ended the third quarter of fiscal year 2010 (April 1 – June 30) with a net loss of $3.5 billion, compared with a net loss of $2.4 billion for the same quarter last year. Third-quarter mail volume totaled 40.9 billion pieces – down approximately 700 million pieces, or 1.7 percent, compared to a year ago.
Complete USPS third-quarter results include operating revenue of $16 billion, some $294 million less than the same period last year, and operating expenses of $19.5 billion, an increase of $789 million, or 4.2 percent, over the third quarter last year.
The increase in operating expenses was attributable largely to higher workers’ compensation expenses due to a non-cash fair value adjustment and higher retiree health benefits expenses. Lower interest rates adversely affected the workers’ compensation liability, resulting in a $2 billion expense for the quarter – $870 million higher than the same quarter last year.
A significant portion of USPS losses in the past few years has been due to an unprecedented decline in mail volume – down by more than 20 percent since 2007. The replacement of letter mail and business-transactions mail by electronic alternatives continues to cause downward pressure on mail volume.
The organization’s financial situation is compounded by its obligation to pay $5.4 billion to $5.8 billion annually to prefund retiree health benefits. This requirement, established in the Postal Accountability and Enhancement Act of 2006 (PAEA), is an obligation unique to the Postal Service.
Liquidity remains a major concern as the end of the fiscal year approaches. Although cash flow appears to be sufficient for 2010 operations, it is uncertain whether cash flow, together with maximum available borrowing of $3 billion, will be enough to fund the Congressionally-mandated $5.5 billion payment to the Retiree Health Benefit Fund on September 30 and retain sufficient liquidity into 2011, according to Joseph R. Corbett, the Postal Service’s Chief Financial Officer.
“Given current trends, we will not be able to pay all 2011 obligations,” said Corbett. “Despite ongoing aggressive cost reductions totaling over $10 billion in the last three years, it is clear that a liquidity problem is looming and must be addressed through fundamental changes requiring legislation and changes to contracts”
The Postal Service has incurred net losses in 14 of the last 16 fiscal quarters. The fiscal 2010 year-to-date net loss is $5.4 billion, compared to a loss in the same period last year of $4.7 billion.
Postmaster General John Potter noted that despite the cost-cutting, the Postal Service has continued to maintain a high level of customer service. The third-quarter service score for overnight single-piece First-Class Mail was 96.7 percent on-time, an improvement of 0.4 percent from the same period last year.
“Our dedication to customer service remains a top priority,” Potter said. “We continue to provide dependable customer service even as we focus on reducing costs. With the dedicated efforts of our entire organization, we are well on track to achieve approximately $3 billion in total cost reductions in 2010,” said Potter.
Cost reductions center on initiatives to improve efficiency and match work hours to reduced mail volume. Other savings are coming from consolidating excess capacity in mail processing and transportation networks, realigning carrier routes, delaying construction of new postal facilities and a variety of other initiatives.
Work hours were reduced by 63 million in the first three quarters of fiscal 2010, or 6.6 percent compared to the first three quarters of 2009. That is the equivalent of about 36,000 full-time employees.
“Securing the fiscal stability of the Postal Service will require continued efforts in all of these areas, as well as further review of retiree health benefit prefunding,” said Potter. “It also will require that the Postal Service gain flexibility within the law to move toward five-day delivery, to adjust our network as needed, to develop new products the market demands, and to work with our unions to meet the challenges ahead.”
Details are contained in the Postal Service Form 10-Q report that will be available Aug. 9, 2010, at http://www.usps.com/financials/ (click Form 10-Q under Quarter Reports).
U.S. Postal Service Posts Net Loss of $3.5 Billion in Third Quarter
Filed under: board of governors, financial statements, postal, postal finances, postal news, usps
Aug. 5 (Bloomberg) – The U.S. Postal Service, which has predicted it may lose $7 billion this year, posted a loss of $3.5 billion in its fiscal third quarter alone.
The net loss in the quarter ended June 30 widened from a year-earlier $2.4 billion, the agency said today in Washington. An $800 million adjustment to workers compensation liabilities accounted for most of the difference, according to the agency.
Mail volume dropped 1.7 percent, the smallest quarterly decrease in three years, Chief Financial Officer Joseph Corbett said at the Postal Service’s board meeting
Postal Service Board of Governors Meets Tomorrow
The Board of Governors met today in closed session
Wednesday, August 4 at 10 a.m. (Closed)
1. Strategic Issues.
2. Pricing.
3. Financial Matters.
4. Personnel Matters and
Compensation Issues.
5. Governors’ Executive Session— Discussion of prior agenda items and Board Governance.
WASHINGTON — The Board of Governors of the U.S. Postal Service will meet in open session Aug. 5 at Postal Service headquarters, 475 L’Enfant Plaza, SW. The public is welcome to observe the meeting beginning at 8:30 a.m., in the Ben Franklin Room on the 11th floor. The Board is expected to discuss the following items:
Thursday, Aug. 5, 8:30 a.m.
- Minutes of previous meetings
- Remarks of the Chairman of the Board
- Remarks of the Postmaster General and CEO
- Committee reports
- Quarterly report on financial performance
- Quarterly report on service performance
- Tentative agenda for the Sept. 21-22 meeting in Washington, DC
The Postal Service receives no tax dollars for operating expenses, and relies on the sale of postage, products and services to fund its operations.
Board Of Governors Chairman Remarks On USPS Need To Act Like A Business
Remarks by Louis Giuliano, Chairman, Board of Governors
United States Postal Service
Association for Postal Commerce (PostCom) Board of Directors Meeting
Washington, D.C.
June 9, 2010
Note: Remarks as delivered may vary from prepared text.
Thank you for that kind introduction – and thank you for this opportunity.
I was scheduled to speak here in February, but as you recall, the weather managed to intervene rather dramatically. Fortunately, the Postal Service is better at delivering the mail in bad weather than I am at getting to a meeting.
So I want to thank the Board for giving me another opportunity to address you this morning.
Today I want to focus my remarks on the key issues facing the Postal Service and what we’re doing about them. Then I would also be glad to take some questions.
In talking about these issues, I want to highlight three major points.
First, we need speed and flexibility in decision-making and other actions, both within our organization and across our regulatory landscape, so we can respond effectively in a very dynamic business environment. Second is the vital importance of our entire action plan. Third, I need for all of you to continue participating in the process by giving us your thoughts and ideas so our implementation can be timely and effective.
The issues that confront us are clear. On the revenue side, we face the long-term challenge of electronic mail and the Internet and the short-term challenge posed by the worst economic decline in decades, both of which have driven mail volume down. Read more