New chairman of the House Oversight and Government Reform Committee Jason Chaffetz (R-UT) was not happy as he faced down the biggest perpetrators of governmental abuse in a hearing yesterday. “You can try to put lipstick on this pig, but the reality is, it is ugly. To get on this list, you have to be engaged in waste, fraud, and abuse in excess of a billion dollars a year,” he said to Gene Dodaro, comptroller general of the Government Accountability Office, which compiles the “High-Risk” list, and representatives from the top five agencies on it. The U.S. Postal Service was not one of those ugly, chosen few, but it was one of 30 governmental entities on the list nonetheless because, said the GAO report released this week, it "continues to be in a serious financial crisis, with insufficient revenues to cover its expenses and financial obligations." Here are the risk factors named by GAO, a succinct portrait of the Postal Service's sorry situation: •A 27% decline in mail volume to 155 billion pieces from a peak of 213 billion in 2006; •An even steeper, 35%, nose-dive for USPS's most profitable product, First-Class Mail; •Unfunded liabilities of about $102 billion—$87 billion of it for payments in pension and retiree health benefits and workers' compensation liabilities, the rest in outstanding debt to the U.S. Treasury; •Statutory limitations on taking action to reduce its financial pressures, such as moving to five-day delivery;
Meredith Corporation (NYSE: MDP; www.meredith.com), the nation’s largest brand-powered food, lifestyle and entertainment media company, engaging over 175 million unduplicated American consumers every month, today announced new senior publishing roles and responsibilities at its SHAPE, Family Circle and Health brands, effective immediately. They are:
•VP/Group Publisher Lee Slattery is adding oversight of SHAPE to her responsibilities, in addition to overseeing Family Circle and Health. Beginning immediately, Slattery also serves as Publisher of SHAPE. She continues to report to Doug Olson, President, Meredith Magazines.
• Brendan Smyth is promoted to Publisher of Family Circle, reporting to Slattery. He was most recently Publisher of Health.
• Maria Jakubek is promoted to Publisher of Health, reporting to Slattery. She was most recently Advertising Director of SHAPE.
“I’m thrilled to elevate Lee, Brendan, and Maria for their outstanding leadership and teamwork on these brands,” said Olson. “We look forward to their continued success as they increase momentum and help us build integrated solutions for our advertisers on behalf of SHAPE, Family Circle and Health.”
Meredith has been committed to service journalism for 115 years. Today, Meredith uses multiple distribution platforms — including broadcast television, print, digital, mobile and video — to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.
Meredith’s National Media Group reaches more than 175 million unduplicated American consumers every month, including over 80 percent of U.S. Millennial women. Meredith is a leader in creating content across media platforms and life stages in key consumer interest areas such as entertainment, food, lifestyle, parenting and home. Meredith is the No. 1 magazine operator in the U.S., and owner of the largest premium content digital network for American consumers. Meredith’s leading national brands include PEOPLE, Better Homes & Gardens, InStyle, Allrecipes, REAL SIMPLE, SHAPE, Southern Living and Martha Stewart Living. Meredith also features robust brand licensing activities including more than 3,000 SKUs of branded products at 4,000 Walmart stores across the U.S. and at walmart.com. Meredith’s National Media Group also includes leading affinity marketer Synapse, and The Foundry, the company’s state-of-the-art creative lab and content studio.