Year: 2003

American Realty Advisors funds loan for Fedex development

American Realty Advisors, an institutional real estate investment manager, announced today the funding of $13.3 million in construction and permanent loan financing to a California based developer for the construction of a truck terminal and maintenance building located in Los Angeles County, CA, fully pre-leased to FedEx Corporation. The loan investment was made on behalf of one of American’s pension fund clients.

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Deutsche Post to bid for Austrian postal service operator

Deutsche Post, Germany’s postal service operator, has revealed that it will bid for Austria’s postal service operator if the latter is privatised.

Chairman Klaus Zumwinkel has announced that he does not intend to close any of Deutsche Post’s current 5,000 post offices across Germany. He has not ruled out, however, that the group will close down some of its outlets at supermarkets and other retail businesses.

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Irish postal codes considered

The Irish Republic may introduced postal codes for the first time following blunders that led to the late delivery of as many as 1.5 million Christmas card and other mail earlier this week.

The possibility emerged after an inquest into the seasonal post hold-ups today by the Irish government`s Communications Minister, Dermot Ahern.

He called in John Hynes, the head of Ireland`s An Post postal company, to provide him with a first-hand explanation about the late cards.

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Chunghwa Post Company launched amidst protests

The Directorate General of Posts (DGP) changed to a state-run company amidst protest from postal workers who are concerned over losing their jobs to the private sector.

In the opening ceremony of the company, Chunghwa Post Company (CPC), some 300 employees showed up with banners to protest against the possible arrangement of giving postal delivery jobs over to private firms.CPC chairman Chang Chia-juch said the transformation into a state-owned firm is to help the postal organization survive against competition from the private sector.

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Taiwan takes step toward privatising postal system

The state-owned Chunghwa Post was officially established yesterday, under the supervision of Ministry of Transportation and Communications (MOTC), as the government transformed the postal service into a corporation.

MOTC Vice Minister Chang Chia-juch (Chang Chia-chu) was appointed as the corporation’s first chairman while Huang Shui-cheng, former deputy director general of the postal service, is the corporation’s general manager.

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Post Office defends 5c stamp price rise

The 45c stamp will be cancelled on January 13 when the cost of a basic stamp rises to 50c.

Australia Post spokesman Petros Kosmopoulos said it was the first time in 11 years the basic postage rate had increased.

“The 45c rate has not changed since January 1992, and during this period the consumer price index has risen by 30% ,” Mr Kosmopoulos said.

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