Hestia Proposes 7 New Pitney Bowes Directors, Setting Up Proxy Fight

| Mike O'Brien

Activist investor Hestia Capital has proposed a majority slate of seven directors to replace current board members at Pitney Bowes, citing poor performance and what it termed strategic missteps over the past decade, with the company responding that Hestia is not interested in a good faith discussion.

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Major Parcel Carriers Perform Well During Peak

| Mike O'Brien

The three major parcel carriers had a decent peak holiday season in terms of on-time performance, with service levels comparable to 2019, according to ShipMatrix, not surprising as volumes were lighter even though holiday sales increased, as many shoppers returned to stores. FedEx saw a significant improvement over its 2021 showing.

Pitney Bowes Investor Calls for Board Takeover, New CEO

| Mike O'Brien

Pitney Bowes will get a board makeover with an installed majority and a new interim CEO, if investor Hestia Capital has its way, actions that have led management to take defensive measures. The hedge fund said it’s taking these hardball measures after the company refused its offer last month to bring in three new outside directors.

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Pitney Bowes Investor Looking for Changes

| Mike O'Brien

A hedge fund which made millions with its stake in GameStop before the struggling retailer became a Reddit-fueled stock phenomenon has invested in Pitney Bowes, believing its assets are undervalued, and suggesting its ecommerce unit could be sold. Hestia Capital may put forward a former Stamps.com executive as a director.

USPS old mailboxes

USPS Sees Revenue Gain, Net Loss, Parcel Drop

| Mike O'Brien

The U.S. Postal Service reported a revenue gain for the year but an income loss, while parcel volume continued to drop relative to the 2021 pandemic surge, as the USPS like other shippers has experienced a slowdown in ecommerce-related business due to challenging economic conditions.

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Parcel Volume in 13 Markets Up 21% in 2021, Revenue Grows Slower

| Mike O'Brien

Global parcel volume increased 21% in 2021 to 159 billion pieces, according to an annual Pitney Bowes shipping index that tracks activity in 13 markets, but revenue increased at a slightly lower rate of 17% as declines in per-piece yield in China acted as a check on that growth.

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The Parcel Industry in the Age of Disruption

| Bill Knasinski

The situation in the parcel industry — high shipping rates, increased surcharges and shipping delays — is a convergence of many complex issues, including supply/demand imbalance, a rough economy and geopolitical woes. Let’s take a closer look at how ecommerce and government laws have disrupted supply chains. 

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USPS Syncs Service Levels for Package Delivery

| Mike O'Brien

The U.S. Postal Service is shortening the promised service levels for two of its ground delivery products, syncing them with its First-Class Package Service (FCPS), a move the USPS says will drive efficiency by consolidating processing and transportation of volume from all three products.

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DeJoy Outlines Drastic USPS Network Overhaul

| Mike O'Brien

U.S. Postmaster General Louis DeJoy outlined plans to streamline facilities and delivery networks to make them more efficient by significantly reducing the number of processing plants and delivery units, eliminating redundancies in an effort to improve performance.

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Domestic Parcel Growth Much Slower in 2021

| Mike O'Brien

While U.S. parcel volume rose nearly 6% to 21.5B pieces in 2021, it was the slowest growth in five years, and considerably less than the massive 31.5% gain in a pandemic-driven 2020, according to Pitney Bowes’ annual index. It also showed smaller carriers growing rapidly but still holding a tiny percentage of the overall pie.