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INTRO:
Faced with projected deficits totaling more than $30 (B)illion over the next decade, the United States Postal Service today outlined a number of actions it will take to ensure mail service to every American for decades to come. Postmaster General John Potter says aggressive and immediate steps are necessary.
John E. Potter, Postmaster General/CEO:
The United States Postal Service faces a financial crisis because technology is altering the way Americans communicate. The crisis can be met by changing the Postal Service business model and making that model more flexible. There are opportunities to bring costs in line with expected revenues by adjusting our delivery networks, retail networks and the financing structure of our legacy costs, greater flexibility in the law and a support of regulatory process will enable these much needed changes
CLOSING:
Potter said the Postal Service will continue to work with Congress on legislative changes to change delivery frequency and eliminate prepayment of retiree health benefits, a requirement unique to the Postal Service among all federal agencies and every private sector company in the country.
Preceding audio courtesy of the U.S. Postal Service
ADDITIONAL SOUNDBITES:
- Postmaster General John E. Potter
Cut #1 :34
THE POSTAL SERVICE HAS BEEN QUIETLY EVOLVING TO BETTER MEET CUSTOMER NEEDS. IN THE LAST DECADE ALONE, THE POSTAL SERVICE REACHED RECORD LEVELS OF END TO END SERVICE AS WELL AS CUSTOMER SATISFACTION WHILE KEEPING A SHARP EYE ON COSTS AND REDUCING OUR WORKFORCE BY 25%. HOWEVER IN TODAY’S RAPIDLY CHANGING WORLD, THESE EFFORTS ARE SIMPLY NOT ENOUGH. THE POSTAL SERVICE MUST NOW MAKE CHANGES TO ITS BUSINESS MODEL SUCH AS DELIVERY FREQUENCY AND RETAL NETWORKS TO SECURE AFFORDABLE UNIVERSAL SERVICE FOR ALL AMERICANS INTO THE FUTURE.
- Patrick R. Donahoe, Deputy Postmaster General
Cut #1 :17
WE VALUE THE CONTRIBUTIONS AND SERVICES OF OUR EMPLOYEES. WE HAVE A GREAT HISTORY OF WORKING WITH EMPLOYEES TO MAKE NECESSARY CHANGE. THAT PARTNERSHIP WILL BECOME EVEN MORE IMPORTANT AS WE WORK TO CREATE A VIABLE POSTAL SERVICE FOR THE FUTURE FOR BOTH OUR CONSUMERS AND OUR EMPLOYEES.
Cut #2 :16
EVERY SEGMENT OF OUR INDUSTRY AND EVERY ONE OF CUSTOMERS WILL BE AFFECTED BY CHANGING OUR BUSINESS MODEL. THERE ARE TRADE OFFS FOR EVERYONE, BUT WE ARE SEEKING A BALANCED AND MODERATE CHANGE TO BE ABLE TO CONTINUE THE FIRST CLASS SERVICE AMERICANS HAVE COME TO EXPECT.
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CHANGING DELIVERY FREQUENCY IS ONE PIECE OF THE SOLUTION BUT ONE THAT COULD SAVE AS MUCH AS FIVE (B)ILLION DOLLARS BY THE YEAR 2020. SURVEYS SHOW THAT AMERICANS SUPPORT ONE LESS DAY OF DELIVERY AS LONG AS IT HELPS TO KEEP POSTAGE RATES DOWN. THIS IS ONE AREA WHERE EVERYONE WINS.
- Robert F. Bernstock, President, Mailing and Shipping Services
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SUCCESS IN THE MARKETPLACE DEMANDS SPEED AND FLEXIBILITY. WE NEED THE FLEXIBILITY TO PERSUE OPPORTUNITIES AND THE SPEED TO BE A MARKET MAKER.
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WE NEED THE FLEXIBILITY TO DEVELOP PRODUCTS AND SERVICES THAT MEET THE CHANGING NEEDS OF OUR CUSTOMERS, WITHOUT EXCESSIVE REGULATORY OR LEGISLATIVE HANDCUFFS.
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DON’T LOOK AT THE POSTAL SERVICE AND SEE ONLY BRICK AND MORTAR POST OFFICES. LOOK ONLINE. LOOK AT YOUR MOBILE DEVICE. LOOK AT OTHER RETAIL OUTLETS, GROCERY STORES, OFFICE SUPPLY STORES AND PHARMACIES. THE POSTAL SERVICE OF THE FUTURE WILL BE SMALLER, LEANER, MORE COMPETITIVE. BUT IT WILL CONTINUE TO DRIVE COMMERCE, SERVE COMMUNITIES AND DELIVER VALUE.
- Joseph Corbett, Chief Financial Officer
Cut #1 :11
DESPITE AGGRESSIVE EFFORTS TO CUT COSTS, THE POSTAL SERVICE CANNOT PRICE ITSELF OUT OF A $33 (B)ILLION DEFICIT. LEGISLATIVE AND REGULATORY ACTIONS DEFINATELY NEEDED.
Cut #2 :13
THE POSTAL SERVICE NEEDS THE POWER TO ADJUST ITS PRICING TO BETTER REACT MARKET DYNAMICS AND TO OFFSET FUTURE VOLUME AND REVENUE DECLINES. CURRENT LAW DOES NOT PROVIDE THE NECESSARY FLEXIBILITY.
Cut #2 :13
THE POSTAL SERVICE CANNOT USE PRICING ALONE TO CORRECT ITS CURRENT FINANCIAL SITUATION. PRICING IS ONE PART OF A COMPREHENSIVE STRATEGY THAT INCLUDES NEEDED LEGISLATIVE AND REGULATORY CHANGES.
Preceding audio courtesy of the U.S. Postal Service
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Please Note: For broadcast quality video and audio, photo stills and other media resources, visit the USPS Newsroom at www.usps.com/news.
A self-supporting government enterprise, the U.S. Postal Service is the only delivery service that reaches every address in the nation, 150 million residences, businesses and Post Office Boxes. The Postal Service receives no tax dollars. With 36,000 retail locations and the most frequently visited website in the federal government, the Postal Service relies on the sale of postage, products and services to pay for operating expenses. Named the Most Trusted Government Agency five consecutive years and the sixth Most Trusted Business in the nation by the Ponemon Institute, the Postal Service has annual revenue of more than $68 billion and delivers nearly half the world’s mail. If it were a private sector company, the U.S. Postal Service would rank 26th in the 2008 Fortune 500.
