The U.S. Postal Service intends to use $10 billion in retirement fund overpayments to set up a health benefit account for its more than 800,000 employees, the Postal Service’s chief financial officer said September 30, 2003.
Richard Strasser said the money would lay the foundation for a health benefit retirement program estimated to cost more than $40 billion.
Read MoreAlpha Bank, Greece’s second-largest bank, could take part in a tender for a stake in state-held Postal Savings Bank if the price is right, Alpha’s chief executive said in an interview on Sunday. Greece is set to launch an international tender for a 35 to 40% stake in Postal Savings after a principal shareholder in Bank of Attica, which the government hoped to merge with Post, failed to come up with a bid.
Read MoreThe Algerian government has invited Argentine companies to take part in the North African country’s privatization of public services, the Economy Ministry said. In a communique, the Ministry said Algerian government officials “were especially interested in the Argentine experience of the transfer and concession of public assets and the renegotiation of contracts with public service companies.”
Read MoreFrance is considering splitting La Poste in two, in exchange for approving the state-run post offices plans to widen the financial services it offers. The plan comes at a delicate time for the post office, which is facing increasing foreign competition as a result of the gradual pan-European deregulation of postal services. This week, the Cour des Comptes, Frances national accounts auditor, is expected to issue a warning that La Poste might not survive deregulation unless it reduces costs and increases productivity by 2009, when all national barriers will be removed.
Read MoreIf you order merchandise on the Internet or by catalog, you probably know that returning items can be more difficult than getting them in the first place.
USPS is set to launch a two-year test of Parcel Return Services (PRS) that will make it easier for consumers to return items at very competitive prices for merchants. PRS will work like drop-shipping in reverse.
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