Author: Archive

Royal Mail’s letters chief is posted to the parcels division

Posted by | May 8, 2004 | |

The senior director in charge of the Royal Mail’s letters business has been stripped of his responsibilities following allegations of thefts by postal workers and revelations about the loss of millions of letters.

Elmar Toime, the organisation’s executive deputy chairman, has instead been put in charge of the performance of the parcels operation. The changes come in response to recent allegations in a Channel 4 television programme that Royal Mail staff were stealing money, and to an analysis by the consumer group Postwatch which revealed 14 million letters were “mis-delivered” every year.

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Japanese cautious about postal reform

Posted by | May 8, 2004 | |

Over 70 pct of Japanese people take a cautious stance toward the envisaged privatization of Japan Post, underscoring the need for the government to drum up public support for realizing the pivotal reform item for Prime Minister Junichiro Koizumi.

In the survey, conducted in March, 48.3 pct of respondents said that an organization that will take over Japan Post should be examined from a wider point of view based on the actual performance of the state-owned body, while 25.2 pct said that Japan Post should remain the way it is.

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UK Royal Mail chief takes control of delivery

Posted by | May 8, 2004 | |

Adam Crozier, chief executive of Royal Mail, has assumed direct control of postal deliveries after revelations of theft by staff and complaints about missing and late mail.

In a statement yesterday, Royal Mail said Mr Crozier had also appointed a new operations director, Tom Melvin, who was previously head of operations for the north of England, Scotland and Northern Ireland. It added: “The management of letters and transport operations has been brought together to improve co-ordination.

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Deutsche Postbank flotation planned for June 21

Posted by | May 7, 2004 | |

Deutsche Postbank, the banking subsidiary of German state postal service operator Deutsche Post, is expected to be floated on the stock market on June 21. Deutsche Post, is planning to float 49.9 per cent of the capital of its subsidiary on the stock market before the summer recess. Income from the transaction is expected to amount to around 2.5bn euros, and is to be invested in the postal operations of the parent company.

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German Deutsche Post set for logistics spending binge

Posted by | May 7, 2004 | |

Deutsche Post World Net plans a multi-billion dollar logistics spending spree beginning next month using the proceeds from the stock offering of its banking unit. The German mail, express delivery and logistics group, confirmed it will list up to 49.9 percent of Postbank, the country’s largest bank, on the Frankfurt stock exchange on June 21. Deutsche Post said it will use the expected 3 billion euros (USD3.6 billion) in proceeds, the largest in Germany in several years, to improve the group’s finances and fund investments, mostly in logistics and mail operations abroad.

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FDX Ground Facility Tour -notes from Bear Stearns

Posted by | May 7, 2004 | |

FDX Ground Facility Tour. On Thursday, we toured FedEx Ground’s 500,000 square foot Woodbridge, NJ facility, its third largest hub by volume, processing over 30,000 packages per hour. In the next eighteen months, management estimates that its New Jersey hub will grow to be the largest Ground facility by volume, eclipsing its hub in Harrisburg, Pennsylvania.
Note from Barry Hansen: note that FDX Ground has won the LL Bean home delivery contract. Bean is the largest cataloge operator in the U.S. These are the types that the Donnelley Logisitics operation should win.

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ABX Air chief wants DHL operations consolidated in Ohio

Posted by | May 7, 2004 | |

The top executive of a company that operates overnight package delivery flights near here says he hopes another air carrier opts to move similar operations to Wilmington.

The consolidation would make sense because the air freight hub near Wilmington run by ABX Air Inc. can handle more packages than DHL’s operations at the Cincinnati/Northern Kentucky International Airport, said Joseph C. Hete, ABX’s president and chief executive.

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Stable dividend rate of 30 percent at Deutsche Post

Posted by | May 7, 2004 | |

To ensure that letter delivery contribute a stable 2bn euros to group profits, management intends, within reason, to take advantage of the gradual deregulation of the market. The group will aim for its US express service DHL/Airborne to break even in 2005. DHL/Airborne showed a loss of 284m euros last year. A dividend of 0.44 euros per share is to be paid out for 2003, compared with 0.40 euros for the previous year. This represents a stable dividend rate of 30 per cent.

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