Year: 2003

Unipost Plans Expansion in Spain

Posted by | Jul 16, 2003 | |

Spanish postal service group Unipost will invest 27.3 mln euro ($30.5 mln) in expansion through purchase of companies throughout Spain by 2005, it was reported on July 16, 2003. The company plans an extensive promotional campaign of its services in the next years. The objective of Unipost is to face its largest competitor, Spanish postal service group Correos. Unipost, which currently comprises 12 postal service operators, plans to integrate the 180 private companies existing in Spain in 2009, when the total liberalisation of the Spanish postal service is expected.

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RR Donnelley issues statement from CEO on postal commission

Posted by | Jul 16, 2003 | |

RR Donnelley today issued a statement by William L. Davis, chairman, president and chief executive officer, on the initial recommendations of the President’s Commission on the U.S. Postal Service (USPS) discussed today in a hearing held by the Commission on Capitol Hill. The official recommendations are due to be released in a formal report to the president later this month. RR Donnelley, based in Chicago, Ill., is the largest commercial user of the USPS. “These initial recommendations represent a serious and thoughtful effort to try to improve the USPS. The Commission and the Bush Administration deserve substantial credit for taking a monumental first step on the road to postal reform. Their work has provided a strong foundation for a vigorous debate on what changes need to be made to keep the USPS healthy and financially sound in the coming decades.”

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Panel says US Postal Services needs more flexibility

Posted by | Jul 16, 2003 | |

The U.S. Postal Service should remain part of the government but receive more flexibility to change rates and be operated by a corporate-style board of directors, a presidential commission concluded Wednesday. The President’s Commission on the United States Postal Service,formed by President Bush to study the agency and make recommendations for its future, is expected to issue a final report by the end of the month. However, commission members began going through their basic recommendations Wednesday, voting to approve several that could have a major impact on the future of the postal service.

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UK mail regulator Postcomm over budget after surprise rates bill

Posted by | Jul 16, 2003 | |

Postcomm, the Government body in charge of opening up the monopoly postal market, is heading for a second set of qualified accounts due to a pounds 67,000 rates bill, it was revealed yesterday. The unexpected bill pushes the organisation, which is funded by licence fees from Royal Mail, above its budget set by Parliament for the second time in succession – and in its three-year history.

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Canadian mail strike expected to be averted

Posted by | Jul 16, 2003 | |

Both sides in contract negotiations at Canada Post said a large scale mail strike will be averted Friday, according to Canada Post Wednesday.

“We’re anticipating that we’re going to get a deal,” John Caines, a spokesman for the post office, told local reporters.

The 45,000 members of the Canadian Union of Postal Workers have been without a contract since Jan. 31. Last month, 92 percent of postal workers voted in favor of a strike mandate over issues including salaries, subcontracting, retirement, work load and safety.

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UK Royal Mail Group in the middle of big changes

Posted by | Jul 16, 2003 | |

Royal Mail is delighted to be supporting the Young Business Entrepreneur North East Business Executive of the Year 2003 award for the third consecutive year.

It is common knowledge that successful businesses of all sizes need to change and adapt in order to remain in business.

Indeed, Royal Mail Group is now in the middle year of a radical three-year renewal plan aimed at returning our business back to profit, following record losses. We have already made excellent progress and recently announced the first improvement in trading performance for five years. Foundations have been laid for a turnaround and put the company at the start of the road to profitability and in a strong position to compete with our competitors.

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FedEx Corp. Announces Stock Repurchase Program

Posted by | Jul 16, 2003 | |

FedEx Corporation today announced that its Board of Directors has authorized the repurchase of up to 5 million shares of the company’s common stock. These shares augment the 3.1 million shares remaining under the existing repurchase authorization. “The authorization of this repurchase program reflects our continued confidence in the long-term growth and profitability of FedEx Corp.,” said Frederick W. Smith, chairman, president and chief executive officer. “FedEx has significantly improved its cash flow in recent years, and we believe that a repurchase of our stock is an excellent use of the company’s cash.” Purchases may be made in the open market and in negotiated or block transactions. FedEx currently has 298 million shares outstanding.

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Swiss Post International takes over EDS Export & Distribution Services AG

Posted by | Jul 16, 2003 | |

Swiss Post International (SPI), the international arm of Swiss Post, is buying EDS Export & Distribution Services AG. The Meilen-based company is a market leader in the distribution of newspapers and magazines from Switzerland to kiosks and sales outlets abroad. It will complement SPI which is the market leader in the international delivery of subscription newspapers. With the purchase of EDS, SPI will be able to offer its customers a complete international transport and distribution service for press products.

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