The Governors of the United States Postal Service have selected David C. Williams to be the second Inspector General of the United States Postal Service. The incumbent InspectorGeneral, Karla W. Corcoran, has expressed her intention to retire immediately and will do so with the thanks of the Governors for her service. Mr. Williams will assume his new duties immediately.
Read MoreThe U.S. Senate Governmental Affairs Committee may hold a hearing Sept 3 to discuss the recommendations of the presidential postal reform commission.
A hearing has been discussed but will not be officially scheduled until all members of the committee are served with notice of the proposed date, a committee representative said yesterday. Although the Senate is in its summer recess and returns to session Sept 2.
The presidential postal commission sent its recommendations to the White House at the end of July. Proposed reforms in the report called for increased automation, fewer employees, changes to the collective bargaining process and increased power to close unprofitable post offices.
Read MoreDHL, the world’s leading express and logistics company, has announced the completion of its acquisition of Airborne Inc’s ground operations for approximately USD1.05 billion in cash, bringing increased competition to the U.S. express delivery market. The transaction was announced on March 25, 2003.
The company also announced that Uwe Doerken, CEO of DHL Worldwide and a member of DHL parent company Deutsche Post World Net’s Executive Board, has appointed Carl Donaway, formerly Chairman and CEO of Airborne, as Executive Chairman of DHL Holdings Inc. John Fellows will remain CEO of DHL Holdings Inc.
Read MoreThe Board of Directors of UPS has approved a second increase in six months in the company’s quarterly dividend, raising the cash payout from 21-cents to 25-cents per share on all outstanding Class A and Class B shares.
The latest increase amounts to a 19% boost. Since the beginning of 2003, the Board has increased the quarterly dividend by 32%, up from 19-cents per share.
The dividend is payable Sept. 9, 2003, to shareholders of record on Aug. 25, 2003.
Read MoreAirborne Inc has said that shareholders at its annual meeting voted to approve its USD1.05 billion takeover by DHL. Airborne said that at least 30.9 million, or 88.4%, of the votes were cast in favor of the transaction. Germany’s Deutsche Post owns DHL, the world’s biggest overnight shipper, which has agreed to buy Airborne, the nation’s third-largest airfreight shipper.
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