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Management Reportback - it had to be expensive
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<blockquote data-quote="pretzel_man" data-source="post: 977229" data-attributes="member: 927"><p>Of course money and profits are an important and necessary piece of the puzzle.</p><p></p><p>I thought report back was good and worthwhile to review.</p><p></p><p>From memory:</p><p></p><p>Kuehn discussed our financial picture. That although profits are up (record profit), we did not improve leverage. In essence the goal is to have profits grow as fast or faster than revenue. This is important and Wall Street looks for this as an investment indicator.</p><p></p><p>He discussed that we have been fortunate that we have been fairly price insensitive (rate increases) make up a lot of increased profit.</p><p></p><p>Brutto talked about International and SCS. He discussed that we also did not hit targets with growth and leverage.</p><p></p><p>Gershenhorn discussed that Basic was originally a defensive product (to answer FedEx Smartpost). He mentioned that Sureport was meant as an offensive product. To take volume from FedEx and help with residential profitability. He also mentioned that "tag along" volume has come with Surepost.</p><p></p><p>My Choice was also mentioned many times. That it was built to provide value added services to residential consignees where there is much growth.</p><p></p><p>Multiple times the impact of operational technology was mentioned. How things like Package Flow, Keyless, NGSS, and Telematics have resulted in reduced operating cost and helped improve financials. (sites with this technology is measured against sites without it.)</p><p></p><p>The customer was mentioned many times. There was a great segment about a customer who left UPS because we were arrogant. We (management) made him feel like we were doing him a favor. He left and went to fedex. </p><p></p><p>A number of years later, he gave us another change. He says we were much different today. That we cared about servicing him. BTW, the only reason he gave us another chance is because his driver was excellent in the past. The driver made an impression on him.</p><p></p><p>Anyway, I learned a lot. You can agree or not, but report back is good to get a sense of where the company stands and priorities.....</p></blockquote><p></p>
[QUOTE="pretzel_man, post: 977229, member: 927"] Of course money and profits are an important and necessary piece of the puzzle. I thought report back was good and worthwhile to review. From memory: Kuehn discussed our financial picture. That although profits are up (record profit), we did not improve leverage. In essence the goal is to have profits grow as fast or faster than revenue. This is important and Wall Street looks for this as an investment indicator. He discussed that we have been fortunate that we have been fairly price insensitive (rate increases) make up a lot of increased profit. Brutto talked about International and SCS. He discussed that we also did not hit targets with growth and leverage. Gershenhorn discussed that Basic was originally a defensive product (to answer FedEx Smartpost). He mentioned that Sureport was meant as an offensive product. To take volume from FedEx and help with residential profitability. He also mentioned that "tag along" volume has come with Surepost. My Choice was also mentioned many times. That it was built to provide value added services to residential consignees where there is much growth. Multiple times the impact of operational technology was mentioned. How things like Package Flow, Keyless, NGSS, and Telematics have resulted in reduced operating cost and helped improve financials. (sites with this technology is measured against sites without it.) The customer was mentioned many times. There was a great segment about a customer who left UPS because we were arrogant. We (management) made him feel like we were doing him a favor. He left and went to fedex. A number of years later, he gave us another change. He says we were much different today. That we cared about servicing him. BTW, the only reason he gave us another chance is because his driver was excellent in the past. The driver made an impression on him. Anyway, I learned a lot. You can agree or not, but report back is good to get a sense of where the company stands and priorities..... [/QUOTE]
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