They say that 60 is the new 50 and 40 is the new 30. I hesitate to write that 30 is the new 20, as I appreciate the intellectual maturity and emotional intelligence I gained during that 10-year window in early adulthood. With the September/October issue, our biggest issue in over a decade, as VERANDA celebrates its 30th anniversary, it’s safe to say that the magazine, too, has earned a certain level of circumspection and discernment, but with an unjaded, spirited vigor that helps us see the best the world has to offer. It’s our hope to bring gravitas and authority to the subject of living well, while still approaching the topic with childlike wonder and bridging the two viewpoints. There’s nothing worse than a blasé, I’ve-seen-it-all editor. An anniversary shouldn’t be about wallowing in the past. A healthy bit of reflection is good for anyone, but the occasion should be about taking stock and focusing on the future and new opportunities that await. This issue features a larger dynamic logo, Oprah’s private rose garden, as well as the very first person to appear on a VERANDA cover (and it’s actually three people: Atlanta homeowner Taylea Fowler and her two adorable twins). Fine jewelry coverage has been a hallmark of the magazine for 20 years, and we expanded it for this issue, featuring 17 pieces of the most beautiful pearl jewels in the marketplace. Click Read More below for more of the story.
The U.S. Postal Service reported total revenue of $17.1 billion for the third quarter of 2018 (April 1, 2018 – June 30, 2018), an increase of $402 million, or 2.4 percent, compared to the same quarter last year.
First-Class Mail revenue declined by $134 million, or 2.2 percent, and Marketing Mail revenue increased by $63 million, or 1.6 percent. Total mail volume declined by a combined 397 million pieces, or 1.2 percent, compared to the same quarter last year. Shipping and Packages revenue increased by $475 million, or 10.2 percent, on volume growth of 102 million pieces, or 7.5 percent.
The net loss for the quarter totaled $1.5 billion, a decline in net loss of $651 million compared to the same period last year, the result of nonrecurring adjustments to retirement and retiree health benefit plans to account for revised actuarial assumptions. Excluding the effects of these adjustments, the net loss for the quarter increased by $507 million.
“The root cause of our financial instability is a flawed business model that is imposed by law. We encourage the Congress to engage in a broad public policy discussion and pass postal reform legislation,” said Postmaster General and CEO Megan J. Brennan. “We support legislation under consideration in the current Congress which would provide immediate flexibility to the organization, allow the Postal Service to invest in our future and continue to provide the prompt, reliable, efficient and universal service the public expects.”
Brennan added that in addition to enactment of postal reform legislation, continued aggressive postal management action and regulatory changes, including a less rigid and more responsive pricing system, are required.
Total operating expenses were $18.5 billion for the quarter, a decline of $240 million, or 1.3 percent, compared to the same quarter last year. Inflationary pressures on salaries and benefits, as well as fuel and transportation costs were offset by the actuarial changes referred to above.
“After adjusting for actuarial changes related to retirement and retiree health benefit plans, the quarter results reflect ongoing trends. The secular declines in mail are somewhat offset by package growth, and labor productivity continues to improve,” said Chief Financial Officer Joseph Corbett. “However, absent changes to our business model, net losses are expected to continue.”
details at: http://about.usps.com/news/national-releases/2018/pr18_062.htm