The nation’s largest retail bookseller has formed a new partnership with Maker Media, publisher of Make: magazine and producer of Maker Faire, to launch the first-ever Mini Maker Faire in stores nationwide. The retailer is asking shoppers to participate at their local Barnes & Noble store the weekend of Nov. 6-8 to share their inventions, ideas and more. “We are thrilled to host the first-ever retail Mini Maker Faire in partnership with Maker Media,” said Kathleen Campisano, VP, Toys & Games at Barnes & Noble. “Literacy is at the core of what we do, and rolling out the first-ever Mini Maker Faire in stores nationwide signals our commitment to what we believe it means to be literate in the 21st century. Tech literacy and being tech literate is a huge part of engaging in everyday life and remaining connected to the world. No other retailer is more poised to serve the community in this endeavor. It is both a privilege and responsibility, which is why this partnership and hosting this Mini Maker Faire in stores across the country is so important to us.”
The U.S. Postal Service reported revenue of $69.6 billion for fiscal year 2017 (Oct. 1, 2016 – Sept. 30, 2017), a decrease of $1.8 billion compared to the prior year. The lower revenues were driven largely by accelerated declines in First-Class and Marketing Mail volumes.
In 2017, mail volumes declined by approximately 5.0 billion pieces, or 3.6%, while package volumes grew by 589 million pieces, or 11.4%, continuing a multi-year trend of declining mail volumes and increasing package volume. While mail volume declines for the year were somewhat offset by growth in package volume, overall volume has declined by 4.9 billion pieces.
The growth in our Shipping and Packages business provided some help to the financial picture of the Postal Service as revenue increased $2.1 billion, or 11.8%. However, that growth was offset in our financials by the decline in mail volumes discussed above, as well as a $1.1 billion 2016 noncash change in accounting estimate and the 2016 roll-back of the exigent surcharge mandated by the Postal Regulatory Commission which further reduced revenue by $1.1 billion from what it otherwise would have been.
“Our financial situation is serious, though solvable,” says Postmaster General and CEO Megan J. Brennan. “There is a path to profitability and long-term financial stability. We are taking actions to control costs and compete effectively for revenues in addition to legislative and regulatory reform. We continue to optimize our network, enhance our products and services, and invest to better serve the American public.”
Brennan stressed that the path forward for a financially stable future must also include urgent actions needed outside of the Postal Service’s control. They include advancement and passage of the postal reform provisions contained in H.R. 756 in the 115th Congress and the adoption by the Postal Regulatory Commission of a new pricing system as part of its 10-year pricing review, enabling the Postal Service to generate sufficient revenues to cover our costs.
Operating expenses for the year were $72.2 billion, a decrease of $4.7 billion, or 6.1%, compared to the prior year, although this net reduction was largely attributable to changes in actuarially determined expenses outside of management’s control. Expenses for retiree health benefits and workers compensation declined by $4.8 billion and $3.5 billion, respectively, but were partially offset by $2.4 billion in higher expenses for the amortization of unfunded retirement benefits, the result of statutory mandates effective for 2017 and changes in Office of Personnel Management actuarial assumptions. Expenses for compensation and benefits and transportation also added $667 million and $246 million, respectively, to 2017 operating expenses.
The Postal Service reported a net loss for the year of $2.7 billion, a decrease in net loss of $2.8 billion compared to 2016. Of this decline in net loss, $2.4 billion was the result of changes in interest rates, outside of management’s control, that reduced workers’ compensation expense compared to last year.
more at: http://www.piworld.com/article/u-s-postal-service-reports-fiscal-year-2017-results/#ne=d7f0e6e16b0d037f71fc050491da5623&utm_source=today-on-piworld&utm_medium=newsletter&utm_campaign=2017-11-15&utm_content=usps+calls+for+postal+reform%2C+new+pricing+system+for+declining+volumes-6