Benjamins, dough, cabbage, coin, greenbacks. Most of us could rattle off a dozen or more slang words that mean money. But we might be unsure what certain financial terms -- operating income, liquidity -- mean. When you follow the U.S. Postal Service, this might put you at a disadvantage, especially when it’s quarterly financial statement time.
Canada Post shares a number of similarities with the U.S. Postal Service, including its founding by Benjamin Franklin in 1753 when both Canada and the 13 colonies were under British rule. Both posts are self-supporting, meaning they pay for their operations through the sale of postage and services. And Canada Post, like the Postal Service, has suffered volume losses the past few years.
Postal customers took fewer trips to the Post Office this past holiday season but that doesn’t mean they spent less on postal products. They just conducted more business through alternative channels, such as online at USPS.com and self-service kiosks. Over the 2013 holiday season, transactions at brick-and-mortar post offices were down 8 percent compared to last year, but transactions through alternative access were up 17 percent, postal officials reported.
There’s no lack of opinions in Washington about what the U.S. Postal Service should do to get out of its precarious financial situation. Cut this, add that, restructure these, and so on. But what about the public? What do Americans want - expect - from the Postal Service?
Hold everything, folks. That’s the recent message from the U.S. Postal Service on phase two of its network consolidation plan and associated changes to service standards. The Postal Service has delayed the second phase, which was set to take effect this month.