Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double

Already up nearly 50% in the last 6 months this gold company has an analyst target nearly twice its current price. With 40+ investment banks and funds already invested it's no wonder this $1.3B company (trading under $2) is grabbing investor attention.

Georgia Sen. Jon Ossoff seeks more control over postmaster general after mail meltdown

CHARLOTTE KRAMON
September 18, 2024

ATLANTA (AP) -- Democratic U.S. Sen. Jon Ossoff of Georgia said Wednesday he wants Congress to have more control over selecting the U.S. postmaster general after a mail-service breakdown in his state.

Ossoff's proposed Postmaster General Reform Act would require the U.S. Senate to confirm a president's appointment to the role. Right now, the position is appointed by the U.S. Postal Service Board of Governors without confirmation from Congress. The legislation would also allow postmaster generals to stay in office for a maximum of two five-year terms. The position currently has no term limits.

"The execution debacle by the U.S. Postal Service in Georgia has been a failure of leadership and a failure of management, and it has reflected the incompetent leadership and the incompetent management of the postmaster general himself," Ossoff said at a news conference Wednesday.

Lawmakers across states have criticized DeJoy for his management of the Postal Service. The legislation comes as DeJoy has tried to squash concerns from election officials throughout the country that the postal system is not prepared to handle a rush of mail-in ballots ahead of the November election.

Georgia lawmakers have blamed operational issues at the postal facility in suburban Atlanta for many of the state's delivery hiccups. USPS consolidated multiple facilities into one in Palmetto, which was supposed to make the delivery process more efficient.

Similar hubs were created in Richmond, Virginia, and Portland, Oregon, as the Postal Service has tried to deal with nationwide slowdowns in delivery and financial losses. The volume of first-class mail has dropped 80% since 1997 as packaged shipments have grown, leading to $87 billion in losses from 2007 to 2020.

But Georgia was ranked as the worst-performing state in a Postal Service service performance report for the second quarter of 2024 that tracked transit time for mail delivery. Ossoff has regularly pressed DeJoy for updates on how he plans to improve the agency's operations, a concern that has also been echoed by a number of Georgia's Republican U.S. House members.

"This is about whether seniors are receiving their medication in the mail," Ossoff said Wednesday. "This is about whether citizens are receiving vital notices from the court -- notices to appear, notices of eviction. This is about whether small businesses can function. High quality postal service can't be a luxury. It is a necessity."

After the Palmetto facility opened, delivery rates slowed. Georgia saw a 90% on-time delivery rate for first-class mail for most of 2023. That rate dropped below 40% in March, but it has since rebounded above 80%.

Ossoff visited Palmetto in June. He called out DeJoy for poor management as employees from across the state had to move to the Palmetto location.

DeJoy told local leaders he planned to add staff and noted that mail service in the state was improving.

Ossoff said Wednesday that Georgians deserve better, saying he expects bipartisan support for the legislation.

"This is a job of such importance that there needs to be a real job interview with those the people elect to confirm the most important officials in the federal government," Ossoff said.

___

Charlotte Kramon is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Kramon on X: @charlottekramon

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