What’s the Right Level of Financial Reporting?

If you’re reading this blog, you likely have an interest in the Postal Service and its financial welfare. How can the Postal Service provide you and other stakeholders with the most appropriate financial information? When the Postal Accountability and Enhancement Act (the Act) was enacted on December 20, 2006, it made significant changes to the Postal Service’s financial reporting responsibilities and governance.

 

Hollywood’s Take on the Postal Service

It takes a lot of digging to find a positive Hollywood portrayal of postal employees. From Cheers’ Cliff Clavin to Seinfeld’s Newman, TV and the movies have not always portrayed postal employees in the most favorable light. Even Mr. Rogers’ postman sidekick, Mr. McFeeley, was seldom seen actually delivering any mail.

 

Automation and the Life of the Letter Carrier

It’s 7:30 am and you’re a letter carrier . . . so take a moment and imagine the following as a typical workday. First, you walk into the office, clock in, and check in with the boss. Then, you load up the vehicle with the mail that is already prepared for your route. Finally, at 7:45 am, you jump into the vehicle, drive off and begin delivering the mail. At no point are you required to manually sort mail. Is that day far off in the future . . . or, is it just around the corner?

 

Use of Industry Best Practices in Processing Parcels

While the Postal Service leads the world in processing letter mail, private sector competitors have a higher market share for parcels. And while letter volumes are decreasing, parcel volumes are projected to increase. Although parcels represent less than 2 percent of mail volumes, the Postal Service parcel business makes up 13 percent of the market share in the U.S. The chart on the left depicts the market share for parcels. Just how do parcel industry giants keep their costs down and productivity up, even in today’s economic environment?

 

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