{"id":7559,"date":"2014-05-14T16:19:28","date_gmt":"2014-05-14T21:19:28","guid":{"rendered":"http:\/\/postalemployeenetwork.com\/news\/?p=7559"},"modified":"2014-05-14T16:19:28","modified_gmt":"2014-05-14T21:19:28","slug":"pmg-state-of-the-business-may-14-2014","status":"publish","type":"post","link":"https:\/\/postalemployeenetwork.com\/news\/2014\/05\/14\/pmg-state-of-the-business-may-14-2014\/","title":{"rendered":"PMG: State of The Business &#8211; May 14, 2014"},"content":{"rendered":"<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">The Postal Service\u2019s financial stability is improving, but significant challenges remain, says PMG Pat Donahoe.<\/p>\n<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">In his<span class=\"Apple-converted-space\">\u00a0<\/span>latest message to employees, Donahoe reviews the Postal Service\u2019s financial results for the first half of the fiscal year (Oct. 1-Mar. 31) and discusses strategies for moving forward.<\/p>\n<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">\u201cFrom a financial standpoint, compared to last year, we\u2019re about $1 billion ahead on net profit. That\u2019s operating profit,\u201d says Donahoe. \u201cOur cash liquidity \u2014 the cash on hand \u2014 is better than last year. Revenue is better than the same period last year by about $700 million.\u201d <a href=\"https:\/\/postalemployeenetwork.com\/news\/wp-content\/uploads\/2014\/03\/1aa-USPS-small.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-7270\" src=\"https:\/\/postalemployeenetwork.com\/news\/wp-content\/uploads\/2014\/03\/1aa-USPS-small.gif\" alt=\"1aa-USPS-small\" width=\"250\" height=\"200\" \/><\/a><\/p>\n<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">The results also show expenses are down when compared to last year, Donahoe says. \u201cWe need to continue controlling the things that we can, the operating expenses and the operating revenue,\u201d he says.<\/p>\n<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">Challenges remain, including the congressionally mandated prepayments to the Retiree Health Trust Fund. \u201cWhen you add in the money that we\u2019ve got to spend for retiree health benefits and some cash adjustments for worker\u2019s compensation, we\u2019re about $2.5 billion in the hole,\u201d the PMG says.<\/p>\n<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">The continuing decline of First-Class Mail volume is another concern. \u201cWe\u2019re about 2 billion pieces short of where we were last year,\u201d the PMG says.<\/p>\n<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">The PMG also discusses other topics, including 3,900 recently hired city carrier assistants and the Postal Service\u2019s<span class=\"Apple-converted-space\">\u00a0<\/span><a href=\"https:\/\/liteblue.usps.gov\/news\/link\/2012\/08aug\/news29s1.htm\" target=\"_blank\"><em>Post Plan<\/em><\/a>. He also encourages employees to remain focused on customer service and delivering and scanning packages properly. \u201cWe can\u2019t lose the package business,\u201d he says. \u201cWe\u2019ve got to be perfect in what we do going forward.\u201d<\/p>\n<p style=\"font: 13px\/16px sans-serif; margin: 0.5em 0px; color: #222222; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; background-color: #ffffff; -webkit-text-stroke-width: 0px;\">The PMG concludes by thanking for employees for their excellent work. \u201cKeep doing a great job with scanning and delivering and we\u2019ll continue to grow the package business and the mail business into the future for this organization,\u201d he says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Postal Service\u2019s financial stability is improving, but significant challenges remain, says PMG Pat Donahoe. In his\u00a0latest message to employees, Donahoe reviews the Postal Service\u2019s financial results for the first half of the fiscal year (Oct. 1-Mar. 31) and discusses strategies for moving forward. \u201cFrom a financial standpoint, compared to last year, we\u2019re about $1 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-7559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","last_archivepost"],"_links":{"self":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/7559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/comments?post=7559"}],"version-history":[{"count":1,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/7559\/revisions"}],"predecessor-version":[{"id":7560,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/posts\/7559\/revisions\/7560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media\/7270"}],"wp:attachment":[{"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/media?parent=7559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/categories?post=7559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/postalemployeenetwork.com\/news\/wp-json\/wp\/v2\/tags?post=7559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}