Tag: USPS

US Postal Service records a $1B profit

Posted by | Jan 7, 2003 | |

The Postal Service recorded a $1 billion profit in the first quarter of the fiscal year, topping expectations by $200 million, the agency said Tuesday. The busy three-month period before Christmas meant a heavy mail volume for the post office, producing income to help balance slower periods. Richard J. Strasser Jr., the agency’s chief financial officer, said the post office had revenue of $16.1 billion during the period covering Sept. 7 to Nov. 29.

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USPS Trims Customs Fees for Parcels to EU

Posted by | Dec 16, 2002 | |

The U.S. Postal Service said Friday that parcels delivered in the European Union that are subject to Customs duties and taxes will be assessed an administrative fee of only 9.50 euros ($9.44) for customs clearance. This is a reduction from the 17 Euros ($16.88) that was previously charged.

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Commission to review US Post Office

Posted by | Dec 11, 2002 | |

The postal system, whose last overhaul was in the 1970s, could face major changes in the future as its mission and operations come under review from a commission set up Wednesday by President Bush.

The U.S. Postal Service is in tough competition from private companies and technology, including electronic commerce and e-mail, over the Internet.

The commission will consider ways to make the postal system more efficient and financially viable. A report, including recommendations, must go to the president by July 31.

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