CNF Transportation has asked the U.S. Postal Service to pay more for the
services CNF provides to manage Priority Mail deliveries in the eastern U.S.
CNF was awarded the $2 billion Priority Mail contract in 1997 and says
it needs the rate increase to meet profit margin goals.
CNF expects an answer to the recommendation within two months. An
increase would have no effect on mail prices, although it would have a
retroactive effect on CNF’s first quarter earnings.
CNF reported operating income of $3.5 million from the Priority Mail
contract, compared with a loss of $17.6 million in 1998’s first quarter.
Priority Mail revenue more than doubled to $118.2 million from $42.9
million.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
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The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
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Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now