Tag: USA

'USPS in search of bigger slice'

Posted by | May 28, 2007 | |

With a new structure to tackle the international market, the US Postal Service aims to get a bigger slice through co-operation rather than acquisitions. Last year, the USPS handled over 793 million pieces of international mail, which translated into USD 1.9 billion in revenues.

To lay the foundations of the international expansion drive, Paul Vogel, who was appointed managing director of international business and senior vice-president of the USPS last summer, has restructured the postal agency’s international activities, consolidating the separate elements into one global business unit.

The new organisation, which was recently unveiled, consists of five divisions. Besides the operations and global business management groups (the latter covers sales and account management), there are units for global finance and business analysis, global network strategy and technologies, and international postal services/partners (which manages international relations and Customs and liaises with the Universal Postal Union).

Yvonne Yoerger, a spokesperson for the USPS, said that the various elements existed previously, but they are now brought together under one umbrella to form a full, self-sustaining profit centre.

Other postal agencies have steered clear of the integrated express carriers, whom they regard as major competitors. In Yoerger’s eyes, the likes of FedEx and UPS are competitors as well as customers and service providers.

Vogel also sees room for growth in a number of markets, such as Eastern Europe and Latin America, but he is most bullish about Asia.

In terms of partnering with Asian postal agencies, the new USPS managing director sees a host of opportunities, ranging from helping postal authorities in less developed economies with infrastructure development and providing and exchanging advice and counsel to joint development of services.

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TNT to delist from New York Stock Exchange

Posted by | May 25, 2007 | |

TNT announced that its Board of Management, approved by its Supervisory Board, has decided to apply for deregistration of the company and termination of its reporting obligations under the U.S. Securities Exchange Act of 1934 (the “Exchange Act”) and the delisting of its American Depositary Receipts (“ADRs”) from the New York Stock Exchange (the “NYSE”)

TNT intends to file a Form 15F with the SEC to deregister and terminate its reporting obligations under the Exchange Act as soon as practicable following June 4, 2007, the date when the revised SEC rules on deregistration become effective. By operation of law, the deregistration will be effective 90 days after the filing, unless the Form 15F is earlier withdrawn. TNT reserves the right to delay the filing of the Form 15F or withdraw the Form 15F for any reason prior to its effectiveness.

TNT intends to file a Form 25 with the SEC to effect the delisting as soon as practicable following June 4, 2007.

The company intends to maintain its American Depositary Receipt facility as a Level I programme. This means that TNT’s ADRs will be traded on the over-the-counter market. TNT’s ordinary shares will continue to be traded on Euronext Amsterdam.

TNT will continue to publish its Annual Report, Accounts and communications in accordance with the Exchange Act on its website http://group.tnt.com.

TNT’s Board of Management has established that the benefits of U.S. registration and a NYSE listing for TNT have declined over time. TNT’s ADR programme is small and the majority of shares in TNT held by U.S. domiciled investors are acquired through Euronext Amsterdam. The average ADR trading business volume is less than five percent of the total volume in the recent twelve month period. TNT furthermore has limited business presence in the U.S. after the recent sale of its logistics and freight management activities.

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Post office seeking to increase its market share in the financial services sector

Posted by | May 25, 2007 | |

A collaborative venture with a United States-based cash transfer entity and a new local money transfer service are just two of the initiatives that the Guyana Post Office Corporation (GPOC) has taken in recent years in an effort to “re-invent” itself, broaden the base of its revenue and enhance its competitiveness in the financial services sector.

Deputy Post Master General Mayglen Adams is acutely aware of the antiquated image of the local postal service and makes no secret of her support for the changes that are taking place.

Two months ago the Corporation joined two local commercial banks in introducing an “outbound” money transfer service. The service, which is being run in collaboration with Post Cash, a United States-based service allows users to deposit up to USD 2,500 on their Post Cash cards and to have those amounts available to them for business transactions overseas. The facility is valid for both direct cash purchases abroad as well as on-line shopping.

“The advantage of the new “outbound” Post Cash Service compared with similar services currently being offered is that card holders are not required to spend all their cash at the same time. Balances can be held on the card,” Ms. Adams told Stabroek Business.

The new outbound Post Cash Service comes just over a year after the GPOC introduced its inbound money transfer service but several months after the introduction of similar services by Republic Bank and the Guyana Bank for Trade and Industry. And according to the Deputy Post Master General the fact that both services were not introduced simultaneously may have allowed the Corporation’s “competitors” to get ahead of the GPOC in implementing outbound services. She feels that both services ought to have been implemented simultaneously.

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FedEx and Kinko's meet

Posted by | May 24, 2007 | |

Kinko’s has long been known for making things larger or smaller; FedEx for delivering — so it’s not a surprise that FedEx Kinko’s has opened a store to enlarge its services from less space.

FedEx Kinko’s aims to provide more services and products in a smaller space with its redesigned stores, one of which opened May 7 on Atlanta Highway.

Pearlie Cross, who manages the new store, has worked for FedEx since 1996. She said the Kinko’s part of the chain, once centered on college campuses, has changed its focus.

The new format debuted nationally late last summer with expectations of opening 200 stores by the end of this month.

Cross said the store carries about 700 items, including paper, writing instruments and digital storage media.

The expanded retail presence complements traditional services offered by FedEx and Kinko’s, she said.

Kinko’s has grown to more than a self-service copy center for college students scrambling to finish a term paper at some wee hour of the morning.

FedEx Kinko’s offers document services including finishing and presentation, Web-based printing and document management.

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