Author: Archive

Chicago postal service is rebounding

Posted by | Aug 9, 2007 | |

The Chicago District of the U.S. Postal Service announced Wednesday that it had improved its delivery rate through reforms a few months after the U.S. postmaster slammed the city for having the worst mail delivery in the nation.

District Manager Gloria Tyson said an audit of Chicago’s mail operation by IBM Consulting Services found that 93 percent of first-class, overnight mail arrived on time between April and July, compared with 90 percent the previous quarter.

The increase was the result of the district hiring more than 240 more carriers, overhauling equipment and correcting nearly 143,000 addresses, Tyson said.

The announcement drew praise from U.S. Rep. Danny K. Davis (D-Ill), who in May oversaw a House subcommittee hearing on the city’s mail operation that aired complaints from disgruntled customers, business leaders and lawmakers.

U.S. Rep. Jan Schakowsky (D-Ill) said her office had heard from more than 120 frustrated postal customers this year.

Davis said previous managers of Chicago’s mail operation had insisted there were enough carriers, even as the union argued otherwise. He said the recent audit proved the managers had been wrong.

On an April visit to Chicago, U.S. Postmaster Gen. John E. Potter is finishing an audit of the Chicago district, which will highlight problems and suggest solutions.

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Joint statement – Royal Mail dispute

Posted by | Aug 9, 2007 | |

Following a meeting between Royal Mail and the Communication Workers Union last Thursday 9th August, the national postal strike has been called off.

At a meeting today between Allan Leighton, Adam Crozier, Billy Hayes and Dave Ward, it was agreed:

• That both parties commit to talks on all the issues between them, hosted and facilitated by the TUC and supported by ACAS. Both sides commit to reach an agreement by 4 September
• That during this period the talks are on a confidential basis with no media or internal briefings unless explicitly jointly agreed. The CWU Executive and Royal Mail Board will receive regular updates on progress and would also be expected to undertake this confidentiality clause
• That for that period, Royal Mail will not serve notice or take any unilateral action to impose changes by executive action
• That for the same period CWU will suspend industrial action
• That the signatories to this joint statement will review the process as and when necessary

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Royal mail response to Postcomm price control proposals

Posted by | Aug 9, 2007 | |

Commenting on Postcomm’s proposals on a review of Royal Mail’s price control, Royal Mail’s Marketing Director, Alex Batchelor, said:

“Royal Mail knows that if we are to succeed in a very tough and open market we urgently need to modernise and become more efficient. Royal Mail is losing business to rivals whose costs and prices are lower than ours because they have the modern technology Royal Mail urgently needs to install. We have already made progress and have shown we can deliver the great quality of service our customers expect. What we must do is to move forward at pace to use the GBP 1.2 billion loan which the shareholder – the Government – has made available to modernise the letters operation with new technology to give it world-class productivity. That’s the focus for Royal Mail.

“Our costs are too high and the simple fact is that our prices are being undercut by rival postal operators and that’s resulting in one letter in every five this current financial year being handled by rivals.

Mr Batchelor added: “We absolutely reject suggestions from Postcomm that we have not capitalised on growth opportunities in the postal market. Despite intense competition, Royal Mail is delivering around 60% of all items bought online and we continue to develop new products and services to support this sector.”

Royal Mail is studying the Postcomm proposals carefully and will respond formally in due course.

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China Post Group approved to set up life insurance unit

Posted by | Aug 9, 2007 | |

China Post Group, a 10 bln-usd company formed out of the State Postal Bureau, said it has won regulatory approval to set up a life insurance unit.

In a recruitment advertisement published on the Renmin University of China website, the company said it received the approval from the China Insurance Regulatory Commission (CIRC) in June.

However, the CIRC declined to provide comment when contacted by XFN-Asia.

China Post can operate its insurance business through the country’s comprehensive postal network.

The group already has a 50-50 insurance joint venture, Sino-French Life Insurance Co Ltd, with France’s CNP Assurances.

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FedEx lawsuit could cost USD 630 million

Posted by | Aug 9, 2007 | |

A federal judge in South Bend this month will weigh whether lawsuits filed by independent contractors against FedEx Corp. in two dozen states should be combined.

About 150 independent contract drivers, designated by FedEx as part-time employees, seek to be classified as full-time workers, according to Bloomberg. That would entitle them to benefits and paid time off.

FedEx also could be forced to buy up to 15,000 trucks used by the drivers, at USD 45,000 apiece. According to some estimates, a favorable ruling for contract drivers could cost the Memphis-based company USD 630 million.

FedEx has been nipping at the heels of larger United Parcel Service, grabbing nearly 20 percent of the ground-delivery market, while UPS has shrunk to 70 percent from 82 percent over the past decade.

The Teamsters union, which represents UPS drivers, is behind the flurry of lawsuits, according to FedEx. It filed as evidence with the court copies of emails between the union and attorneys representing the independent drivers.

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Post Office brings MoneyGram to all 14,000 branches

Posted by | Aug 9, 2007 | |

The Post Office and MoneyGram now offer by far the largest international money transfer network in the UK and also have a new fully computerized service making it even faster to send and receive cash too.

In just ten minutes, cash can travel from any Post Office branch to 125,000 locations in approximately 170 countries and territories worldwide. So, from Brighton to Bangladesh or Shetland to South Africa, it’s never been easier to use the Post Office and MoneyGram service.

MoneyGram was previously available at around 3,500 Post Office branches, but now all branches are equipped with the latest technology meaning MoneyGram transfers can be sent to and received from all 14,000 Post Office branches. Unlike some other money transfer services it is not necessary to have a bank account to send or receive a MoneyGram transfer.

An estimated GBP 2.7 billion* is sent overseas from the UK through international money transfer services each year and this is continuing to grow. In many cases, cash is being sent to friends and family overseas to cover educational or medical fees, or emergency funds.

* Department for International Development – UK Remittance Report 2005

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Austria Post Q2 net income 25.1 mln eur, beating consensus

Posted by | Aug 9, 2007 | |

Oesterreichische Post AG (Austrian Post) said its net income for the second-quarter was up 72 pct year-on-year to 25.1 mln eur, beating analyst consensus of 21.0 mln eur, thanks to continued strong growth in the company’s packets and logistics segments.

Austrian Post’s EBIT for the quarter was up 72.8 pct year-on-year to 29.9 mln eur, while its EBITDA came in at 52.8 mln eur, 8.9 pct higher on the year.

Analysts polled by Thomson Financial News had forecast the company’s quarterly EBIT at 26.8 mln eur and its EBITDA at 54.9 mln eur.

The postal services group said its revenues for the quarter came in at 541.3 mln eur, compared to 417.1 during the same period a year earlier. Analysts had expected second-quarter revenues to reach 543.5 mln eur.

Negotiations regarding the acquisition of additional firms in the speciality logistics sector are in their final stages, according to the Austrian Post.

The company said the recent market entry of a new competitor will have a negative impact on earnings in its parcel and logistics division, but said it stands by its forecast of full-year EBIT rising by 20-25 pct year-on-year.

Looking ahead to 2008 and 2009, Austrian Post said it has left its medium-term target of sustaining an EBIT margin between 7-8 pct unchanged and aims to have a dividend payout ratio of at least 70 pct, assuming that the company’s continued business development and financial position remain favourable.

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FedEx Kinko’s to Introduce Locations in McCormick Place

Posted by | Aug 9, 2007 | |

FedEx Kinko’s and the Metropolitan Pier and Exhibition Authority (MPEA) today announced plans to open five office and print centers in the McCormick Place convention center and historic Navy Pier in Chicago. Detailed plans provide for four locations to open within the convention center facility and one in Navy Pier later this fall.

The presence of FedEx Kinko’s in McCormick Place will provide the convention center’s nearly three million annual visitors with convenient access to high-quality office, printing and shipping services all in one place, without leaving the facility. In addition, customers anywhere in the world may submit orders online for production at the new FedEx Kinko’s locations, saving the hassle of traveling with hefty materials and presentations.

The new FedEx Kinko’s centers will be located in the North, South, and West Buildings and Lakeside Center (formerly the East Building). Similar to stand-alone FedEx Kinko’s Office and Print Centers, these locations will offer copying and digital printing services, sign and banner production, FedEx Express and FedEx Ground shipping options, and more.

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