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Thursday, July 12, 2007

FederalNewsRadio - Ask the CFO - Glen Walker (USPS)

United States Postal Service

Glen Walker - Chief Financial Officer and Executive Vice President

The Postal Service as you knew it is on the way out and the biggest change isn't the latest round of rate hikes, but the Postal Accountability and Enhancement Act which will allow USPS to go after profits. Mr. Walker says part of his challenge is to make sure the financial systems, and even the financial culture, are ready for this new era. He is also taking a close look at the ratio between the Postal Service's two product lines, which is currently 90-percent for market dominant products like the mail and compared to 10-percent for competitive products like packaging. Then, there are also concerns about keeping debt under control and the impact of rising fuel prices on the cost of delivering the mail.

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