Tag: USA

USPS new five-year plan builds on success

Posted by | Sep 27, 2005 | |

The US Postal Service Board of Governors Tuesday approved the “Strategic Transformation Plan 2006-2010,” initiating the agency’s next strategic phase, building on the successes of the original Transformation Plan, introduced in 2002. “Transformation became the watchword of the Postal Service in 2002,” said Postmaster General John E. Potter. “Our goal was to position the Postal Service to navigate a dynamic market environment and communications landscape successfully. The results speak for themselves.” He noted that postal product and service offerings are marked by innovation, ease-of-use, and accessibility.
Potter said, “We have reduced costs and increased productivity. Our people, the men and women of the Postal Service, have brought service performance and customer satisfaction to record levels.” During the next five years, the Postal Service will remain focused on its core business and those strategies that produce results, he said.

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DHL Moves to Wilmington Hub

Posted by | Sep 26, 2005 | |

Last week DHL moved its Greater Cincinnati/Northern Kentucky operations to a new one million-square-foot facility in Wilmington, Ohio, despite a continuing lawsuit over who has the right to finance the project. Nearly a year ago DHL struck a deal with the Dayton-Montgomery County Port Authority in which the state of Ohio guaranteed a bond financing deal and tax exemptions. But neighboring Clinton County Port Authority sued and two weeks ago a Clinton County judge ruled that the Dayton port authority cannot legally finance the deal. The expanded hub is in Clinton County’s Wilmington Airpark.

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FedEx raises earning hopes

Posted by | Sep 22, 2005 | |

FedEx yesterday increased its full-year earnings forecast following a stronger-than-expected first fiscal quarter. The upbeat announcement erased much of the concern sparked among investors by more sluggish results in the fourth quarter of last year. Shares in the company rose nearly 8 per cent to Dollars 83.15 in response. Fred Smith, chairman and chief executive, said he remained optimistic about the US and world economy despite the impact of record fuel prices and Hurricane Katrina. FedEx and other logistics companies are considered economic bellwethers because of theircentral role in global trade. “We see continued improvement in the global economy. Trade is deepening and global trade is growing faster than (US) gross domestic product,” he said. First-quarter net profit increased by a modest 3 per cent to Dollars 339m, or Dollars 1.10 a share. However, those figures were depressed by a Dollars 79m one-off charge related to accounting changes.

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Deutsche Post denies pounds 3.7bn is too much to pay for Exel

Posted by | Sep 20, 2005 | |

The head of Germany’s Deutsche Post yesterday defended his decision to launch a GBP 3.7bn agreed bid for Britain’s Exel in a deal that will mark a further round of consolidation in the global logistics business. Deutsche Post is offering GBP 2.44 a share, 24% above the Exel closing price before announcement of the initial approach from the German company and 48% higher than the price at which Exel shares were changing hands before the UK company found itself at the centre of bid speculation in July. Klaus Zumwinkel, Deutsche Post’s chief executive, shrugged off some analysts’ concerns that his company had paid a stiff price for the British concern, arguing that the combination of the two businesses would create the world’s biggest logistics company. Rejecting criticism over the price, which is more than twice the pounds 1.6bn the group paid to acquire DHL two years ago, Mr Zumwinkel said the combined logistics business and parcels operation would provide growing earnings to offset stagnant profits from the core mail division. “We can expect attractive growth rates in the future . . . driven by global trade and increased outsourcing.”

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