May 1, 2012
Canada Post showed an annual loss of $253 million. The crown corporation has had difficulty balancing its books since the Remembering Due South stamp collection. It also took a hit when the Mail Carrier Union’s demanded their new contract allow name brand insoles.
Unfortunately, decreasing mail volume is an problem directly tied directly to Canada’s older population. Currently, Canada Post make 25% of its money from Agnes McClintok of Revelstoke who continues to order products from her Eaton’s catalogue. In a recent survey, half of all young people though ‘Canada Post’ was a newspaper.
CEO Stewart Bacon said the company will modernize by expanding into the E-mail business. Bacon explained that if you email him a letter, he will print it and mail it the rest of the way.