* DC - USPS Loses $3.3 Billion in First Quarter
Washington,DC,USA -The Journal of Commerce Online -Feb 9, 2012: -- More large losses loom unless Congress acts, postmaster general says... The U.S. Postal Service fell deeper into a financial hole in its fiscal first quarter, losing $3.3 billion forecasting “large losses” will continue until a broad restructuring plan is put in place... The latest loss came despite what the USPS called strong holiday shipping that kept the year-over-year decline in overall operating revenue to just 1.1 percent. But the loss in the quarter ending Dec. 31, 2011 means the USPS has lost $20.7 billion since 2009... Basic operating expenses increased 1 percent, partly from higher fuel costs that increased transportation expenses. Overall mail volume fell 6 percent, while package services revenue actually increased slightly. But the USPS also had to “pre-pay” nearly $3.7 billion in retiree health benefits in the first fiscal quarter, nearly double what the Postal Service had to pay a year ago...
* Tennessee - OHL to Pay $1 Million Cargo Security Violation Fine
Tennessee ,USA -The Journal of Commerce Online, by R.G. Edmonson -Feb 9, 2012: -- Justice Department said air forwarder failed to properly screen packages for explosives.. A Tennessee air forwarder agreed to pay a $1 million fine to settle charges of violating air cargo security regulations at the Indianapolis airport, the Associated Press reported Wednesday... The Justice Department said that employees of OHL Solutions, formerly Activair, failed to screen packages for explosives that were to be transported aboard passenger aircraft... The investigation started in December 2010. The facility closed in February 2011...Labels: transport and logistics news
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