US Postal Service 2010 Annual Report Download
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Table of contents
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... the Board of Governors Foundation For The Future Overview of the 10-year Plan Progress Against the Plan: Our Checklist Retiree Health Beneï¬ts Prefunding Delivery Frequency Expand Access Workforce Pricing Expand Products and Services Oversight The Board of Governors The Executive Committee Message...
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Page 4
... the U.S. economy and the Postal Service. As the economy weakened, mail volumes and revenue continued to decline. The Postal Service met the challenge with focused cost reductions and increased efï¬ciency.
Years ended September 30
2010 2009 2008
Percent change from preceding year
2010 2009 2008...
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Page 5
... of the Two Largest Mail Classes
Global Bargain
2010 First-Class Mail Letter Equivalent Prices in U.S. Dollars
78
83
88
1.50 .97
Norway Japan France Germany Great Britain Canada United States
52
.79
2010 2020 2010 2020
.75
.66 .57 .44
2010 Annual Report United States Postal Service 3
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Page 6
..., seeking an advisory ruling on a ï¬ve-day delivery schedule to better reï¬,ect current mail volumes and customer usage. Survey data show that the public supports a ï¬ve-day delivery schedule to strengthen the ï¬nances of the Postal Service.
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4 2010 Annual Report United States Postal Service
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Page 7
... of the Postal Act of 2006. Although the request was denied, we will continue to seek the authority to price our products appropriately in the marketplace.
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We expanded our array of products and services. We continued to build on the success of our Priority Mail Flat Rate shipping campaign by...
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Page 8
... General John E. Potter's keynote presentation at "Envisioning America's Future Postal Service," a stakeholder policy conference held March 2, 2010 in Washington, DC.
Postal Service of the Future
TODAY LIMITED ABILITY TO RESPOND TO MARKET CHANGES Retiree health beneï¬ts Delivery frequency Access...
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Page 9
... sound, and market responsive Postal Service for the future. â-
Delivering the Future
BUSINESS PLAN: PROPOSED ACTIONS Actions Within USPS Control Retiree Health Beneï¬ts Delivery Frequency Expanded Access Workforce Revenue (Pricing & Products) REMAINING GAP (from $238B) CUMULATIVE VALUE 2010-2020...
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Page 10
...Postal Service took many positive steps to implement its Action Plan. The next pages describe this important progress
Retiree Health Beneï¬ts Prefunding Delivery Frequency
Expand Access
Workforce
Pricing
Expand Products and Services
Oversight
8 2010 Annual Report United States Postal Service
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Page 11
... an average of $5.65 billion in additional cash ï¬,ow per year through 2016.
USPS is experiencing unprecedented losses
POSTAL SERVICE NET PROFIT/LOSS $ Billions No price increase 2003-06 3.9 3.1 1.4 0.9 Net income without RHB 3.3 2.8 -2.4 Retiree health beneï¬ts prefunding is driving losses 02...
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Page 12
... feedback from our customers and analysis of impacts to the Postal Service, we submitted a ï¬ling to the Postal Regulatory Commission (PRC) regarding plans to make this important transition. Mail volumes are generally at their lowest on Saturdays and more than a third of U.S. businesses are closed...
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Page 13
... Flat Rate boxes and envelopes, Express Mail, Parcel Post and stamps. This is just one way in which we are modernizing the existing retail network to better match the changing needs of our customers, while efï¬ciently managing costs. In the past year, we have also improved and expanded our online...
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Page 14
... on these important goals. While we prefer in all cases to manage these changes through collective bargaining, under existing law arbitration is always a possibility. Our ï¬rst priority in any arbitration ruling must always be the ï¬nancial health of the Postal Service and the affordability...
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Page 15
...pricing to better reï¬,ect market dynamics and to offset current and future volume and revenue declines. In 2010, pursuant to the tenets of our March 2 Ensuring a Viable Postal Service for America: An Action Plan for the Future, we have actively pursued a number of initiatives to address our pricing...
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Page 16
... ï¬,at rate box required. We also continued sale promotions, offering pricing incentives of 30 percent on Standard Mail volumes above a certain threshold, and a First-Class Mail Incentive Many Post Ofï¬ce lobbies are offering new products and services - including holiday and gift cards.
I
Program...
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Page 17
... speed to market and quick decision making.
SOLUTION
Streamline oversight by redeï¬ning regulatory roles and processes.
The Postal Service is working with Congress to establish a more ï¬,exible business model to better meet the evolving mailing needs of the American people.
2010 Annual Report...
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Page 18
... General and the Deputy Postmaster General. The Governors appoint the Postmaster General, who serves at their pleasure without a speciï¬c term of ofï¬ce. The Governors, together with the Postmaster General, appoint the Deputy Postmaster General.
16 2010 Annual Report United States Postal Service
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Page 19
... Tax-Exempt Series I, the JP Morgan Value Opportunities Fund and Clean Energy Fuels Corp. Former Director, U.S. Ofï¬ce of Management and Budget, 1985 to 1988. Former Chairman, U.S. Federal Trade Commission, 1981 to 1985. Dennis J. Toner Appointed September 2010. Term expires December 2012. Member...
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Page 20
...the Postal Service.
Joseph Corbett Chief Financial Ofï¬cer and Executive Vice President Marie Therese Dominguez Vice President, Government Relations and Public Policy Paul Vogel President, Mailing and Shipping Services Linda A. Kingsley Senior Vice President, Strategy and Transition John E. Potter...
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Page 21
... of Governors Susan M. Plonkey Vice President, Sales Samuel M. Pulcrano Vice President, Sustainability Gary C. Reblin Vice President, Shipping Services Maura Robinson Vice President, Pricing Tom A. Samra Vice President, Facilities Pranab Shah Vice President and Managing Director, Global Business...
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Page 22
... contributed to the development of our ten-year action plan, Ensuring a Viable Postal Service for America: An Action Plan for the Future.
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The Committee closely reviewed ï¬nancial results, forecasts and cash ï¬,ow projections at each meeting and advised the full Board as to its...
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Page 23
..., the Committee recommended, and the Board approved, the ï¬nancial statements for 2010.
"The Postal Service not only completed its third full ï¬scal year in compliance with SEC reporting rules but also achieved the signiï¬cant milestone of successfully implementing full SOX compliance."
James...
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Page 24
... mailers, seasonal sales, widespread promotion of our ï¬,at-rate shipping options and a reorganized sales force. Despite impressive cost-cutting to right-size and realign Postal Service operations with lower mail volume and revenue levels, we recorded a loss of $8.5 billion for the ï¬scal year. Of...
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Page 25
... required both internal change and changes by our customers, suppliers, business partners and others in the mailing industry. I thank our staff and the entire industry for helping reach this important milestone. Although we anticipate continued ï¬nancial challenges in ï¬scal year 2011 and beyond...
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Page 26
Stamps By Design
PIONEERS OF AMERICAN INDUSTRIAL DESIGN
THE 2011 COMMEMORATIVE
STAMP PROGRAM
AMERICAN TREASURES
EDWARD HOPPER
ROMARE BEARDEN
LATIN MUSIC LEGENDS
JAZZ APPRECIATION
24 2010 Annual Report United States Postal Service
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Page 27
HELEN HAYES
LEGENDS OF HOLLYWOOD
LITERARY ARTS
GREGORY PECK
MARK TWAIN
AMERICAN SCIENTISTS
MERCURY/MESSENGER
LOVE
GARDEN OF LOVE
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BLACK HERITAGE
U.S. MERCHANT MARINE
BARBARA JORDAN
CIVIL WAR: 1861
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FLAGS OF OUR NATION
KANSAS STATEHOOD
OWNEY THE POSTAL DOG
INDIANAPOLIS 500
HOLIDAY STAMPS
HOLIDAY BAUBLES
MADONNA OF THE CANDELABRA BY RAPHAEL
LUNAR NEW YEAR
YEAR OF THE RABBIT
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Page 30
.... This was one of the largest successful SOX implementations on record and the ï¬rst within the federal government. In the following section, please ï¬nd the annual ï¬nancial statement of the United States Postal Service for ï¬scal year 2010.
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... published by: United States Postal Service Corporate Communications 475 L'Enfant Plaza, SW Washington, DC 20260-3100 Read our Annual Report online at: www.usps.com/ï¬nancials/_pdf/annual_ report_2010.pdf © 2010 United States Postal Service. All rights reserved.
Trademarks The following are among...
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Page 92
... in war zones. In fact, between the Thanksgiving and Christmas holidays this year, nearly 30 million pounds of mail will be delivered to troops in Afghanistan and Iraq. Every day nearly half a million pounds of mail is shipped from the U.S. to service men and women stationed around the world. That...
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