There is no question that a country’s postal service is a valuable national asset. On one hand, it is a functional asset that supports commerce and binds the nation together. On the other, postal operations are capital assets, with distribution networks, vehicles, machinery, and labor resources that have some sort of value.
While the value of binding the nation together is difficult to put into monetary terms, the value of capital assets is easier to assess. In fact, some cash-strapped governments around the world are trying to raise money by selling parts of their postal operations. The most prominent example is Greece, who announced in June that it plans to sell 39 percent of the national postal service, Hellenic Post.
Safety is a key component of all Postal Service operations, activities, and facilities. Nonetheless, safety issues do occur in the Postal Service as in other organizations. Recently, Occupational Safety and Health Administration (OSHA) inspectors found electrical safety violations in several Postal Service Processing and Distribution Facilities (P&DCs).
Electrical Safety issues at Postal P&DCs identified by OSHA include:
• Electricity problems in facilities
• Failure to adequately lock out machines’ power sources to prevent unexpected start-ups
• Inadequate training for employees exposed to electrical hazards
• Failure to provide electrical protective equipment to protect employees from arc-flash hazards and electrical current
• Failure to use appropriate safety signs, safety symbols or accident prevent tags to warn employees about electrical hazards
Millions of people trust the Postal Service to mail their bills and cast their vote.
In our previous voting by mail blog, concerns about potential fraud were identified and whether their votes would reach their destination. Others identified the potential for the Postal Service to expand its role and expressed relief in avoiding long lines to cast their votes.
Various voting methods have been explored over the years to provide secure and convenient ways for citizens to cast their votes and provide municipalities with cost-cutting opportunities. One method under consideration is voting by mail. The Postal Service has repeatedly been ranked as one of the most trusted government agencies and has a significant role in today’s voting landscape. The Universal Right to Vote by Mail Act, introduced by California Representative Susan Davis, will provide all eligible voters the option to vote by absentee ballot in federal elections for any reason.
The Sarbanes-Oxley (SOX) Act of 2002 grew out of large corporate financial scandals. SOX aims to improve corporate governance and enhance the accuracy of financial reporting. While compliance is required by the Postal Act of 2006, the Postal Service believes it is a great way to make its business stronger. SOX helps target areas of improvement and strengthen financial accounting, making the Postal Service a better business. As a result, the Postal Service designed and implemented new business mail acceptance procedures and requirements in an effort to comply with SOX. The initiative includes new check-in, verification, recording, placarding, and induction procedures for processing business mail; daily certifications of SOX compliance by business mail entry units; an updated mail acceptance handbook; and enhanced customer use of the PostalOne! system.
The Postal Accountability and Enhancement Act of 2006 (PAEA) ushered in a new regulatory structure for the U.S. Postal Service. One key element was a price cap on market dominant products. (Most of the Postal Service’s products are market dominant.) This means that price increases for market dominant products are capped by the rate of inflation as measured by the Consumer Price Index (CPI). PAEA, however, does allow the Postal Service to increase its prices beyond the CPI cap under “extraordinary and exceptional circumstances.” The Postal Service makes the exception by filing an ‘exigent’ rate case to the Postal Regulatory Commission (PRC). Before the Postal Service can increase prices, the PRC must agree with the ‘exigent’ request and find it to be reasonable, equitable, and necessary.Read More