Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Daily Archives: February 7, 2015

US Postal Service Losses $754 Million

UNITED STATES POSTAL REGULATORY COMMISSION Washington, D.C. 20268 – 0001 FORM 10-Q, For the Quarterly Period Ended DECEMBER 31, 2014.

Liquidity Concerns – The Postal Service continues to suffer from a lack of liquidity. Cash balances remain insufficient to support an organization with approximately $73 billion in annual operating expenses. The Postal Service’s average daily cash and cash equivalents balances during the three months ended December 31, 2014 were $5.7 billion, which represents only 21 days of operating cash. The Postal Service does not have the ability to borrow additional funds under its existing borrowing arrangements, and this level of cash balances could be insufficient to support operations in the event of another significant downturn in the U.S. economy. The Postal Service incurred a net loss of $754 million for the three months ended December 31, 2014. The loss included $1.4 billion of expense accrued for the prefunding payment for the Postal Service Retiree Health Benefits Fund (“PSRHBF”) mandated by the PAEA. This requirement to prefund retiree health benefit obligations is not imposed on most other federal agencies or private sector businesses. In addition to the requirement to prefund $5.7 billion of retiree health benefits in 2015, the Postal Service continues to pay its employer share of health insurance premiums for its retirees, which was $759 million during the three months ended December 31, 2014.”

The Politics of Group Targeting in Presidential Campaign Advertisements: A Preliminary Investigation

Rhodes, Jesse H. and Johnson, Kaylee, The Politics of Group Targeting in Presidential Campaign Advertisements: A Preliminary Investigation (February 5, 2015). Available for download at SSRN: http://ssrn.com/abstract=2560998 “This paper develops a theory of the frequency and tone of group appeals in presidential campaign advertisements. Using data from the 2008 presidential election campaign, it provides a… Continue Reading

Role of Debt in Developing Resolution Strategies in U.S., U.K., and European Union

Krimminger, Michael, Shadows and Mirrors: The Role of Debt in the Developing Resolution Strategies in the U.S., U.K., and European Union (December 30, 2014). Available for download at SSRN: http://ssrn.com/abstract=2560982 “In response to the 2008-10 financial crisis, international standard setters and national authorities have sought to create a more resilient financial system while fashioning statutory… Continue Reading

President Obama – National Security Strategy in 2015

Fact Sheet:  The 2015 National Security Strategy – “Today, the United States is stronger and better positioned to seize the opportunities of a still new century and safeguard our interests against the risks of an insecure world.  The President’s new National Security Strategy provides a vision and strategy for advancing the nation’s interests, universal values,… Continue Reading

Anthem breach Shows Risks of “Big Data”

EPIC – “One of the largest health insurers in the country has lost millions of medical records of American consumers. The most recent breach of sensitive medical information shows the dangers of “Big Data” and the mistaken conclusion of the report of the Presidents Science Advisors, which simply assumed the benefits of data collection. EPIC… Continue Reading

FTC Report on Internet of Things

Report Recognizes Rapid Growth of Connected Devices Offers Societal Benefits, But Also Risks That Could Undermine Consumer Confidence In a detailed report on the Internet of Things, released today, the staff of the Federal Trade Commission recommend a series of concrete steps that businesses can take to enhance and protect consumers’ privacy and security, as… Continue Reading

UK Tribunal Rules Secret Surveillance Unlawful

The Intercept: “The United Kingdom’s top surveillance agency has acted unlawfully by keeping details about the scope of its Internet spying operations secret, a British court ruled in an unprecedented judgment issued on Friday. Government Communications Headquarters, or GCHQ, was found to have breached human rights laws by concealing information about how it accesses surveillance… Continue Reading