The Post Office Is Getting a New CEO. Here’s What Could Change.
Megan Brennan is retiring after a 33-year career that she launched as a mail carrier in Pennsylvania, and capped with five years as CEO of the United States Postal Service. A new postmaster general will take over in 2020.
Investors may want to think about who picks that person and what changes the new boss might pursue. Any change in strategic direction at the Post Office has implications for parcel shippers—such as United Parcel Service (ticker: UPS) and FedEx (FDX)—as well as e-commerce and maybe even banking.
Global postal group reaches deal to avoid US withdrawal
The Universal Postal Union agreed to a compromise Wednesday that would allow the United States to set its own inbound postage rates and remain within the organization the Trump administration had previously threatened to leave.
Jean-Paul Forceville, the chief negotiator for France’s La Poste, told CNBC earlier that the probability was “pretty high” that a compromise would be reached this week to reform the 144 year-old organization along some of the lines the United States has proposed.
Court Rules Postal Service's Largest-Ever Stamp Price Increase Is Illegal
federal court dealt a major blow to the U.S. Postal Service on Friday, ruling that the mailing agency’s five-cent price increase for stamps that went into effect earlier this year is illegal.
Letter Carriers Sue Postal Service Over Push to 'Radically Refashion' Their Jobs
A union representing 200,000 U.S. Postal Service employees is suing the mailing agency over an initiative to change the structure of their jobs, saying it is causing workers physical harm and is in violation of a negotiated contract.
Bipartisan legislation introduced to repeal USPS pre-funding mandate
On April 28, Reps. Peter DeFazio (D-OR), Tom Reed (R-NY), Xochitl Torres Small (D-NM), and Brian Fitzpatrick (R-PA) introduced the USPS Fairness Act (H.R. 2382) which would repeal the mandate that USPS “pre-fund” decades’ worth of health benefits for its future retirees, enacted through the Postal Accountability and Enhancement Act (PAEA) of 2006.