logo
Postal Service picks FedEx board member as next leader

Postal Service picks FedEx board member as next leader

E&E News09-05-2025
The U.S. Postal Service picked the former head of Waste Management Inc., who currently serves on the board of Federal Express, as its next postmaster general Friday, months after the Trump administration forced out the service's former head.
David Steiner led Waste Management, the nation's largest trash hauler, from 2004 to 2016.
The Postal Service's unions have questioned whether President Donald Trump influenced the decision, according to the Associated Press. Trump has repeatedly floated the idea of privatizing the Postal Service or folding it into the Commerce Department.
Advertisement
The decision to hire Steiner 'rests solely' with the Postal Service's board of governors, whose members are approved by presidents of both parties and approved by the Senate, the Postal Service said in the statement. Steiner will likely start in July and will leave the FedEx board, the statement said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump crypto firm plans launch of public company that will hold family token
Trump crypto firm plans launch of public company that will hold family token

Yahoo

time25 minutes ago

  • Yahoo

Trump crypto firm plans launch of public company that will hold family token

The Trump family business World Liberty Financial is planning to announce a crypto treasury company, say three investors who have seen parts of the deal. The plan, according to details shopped around to investors and viewed by Fortune, revolves around a publicly traded company that would hold a combination of World Liberty's proprietary token WLFI and cash. The proposal also calls for Eric Trump and Donald Trump Jr. to serve on the board, and hopes to raise $1.5 billion to fund the new company. If the plan goes forward, it would be the latest addition to the Trump family's fast-growing crypto empire. The Trump family first announced the World Liberty crypto project last fall, launching a series of products including the WLFI token, which has netted $550 million in sales, as well as its own stablecoin, USD1. A spokesperson for World Liberty declined to comment. Spokespeople for Eric Trump and Donald Trump Jr. did not respond to requests for comment. The planned treasury company comes amid a boom in so-called 'digital asset treasury companies,' or publicly traded firms that hold large stashes of cryptocurrency on their balance sheets. According to details shared with investors, the planned treasury company for World Liberty's token is a shell firm that is already listed on the NASDAQ, and that it has already acquired. The concept of crypto treasury companies was pioneered by billionaire Michael Saylor, who remade his software company MicroStrategy into a vehicle to acquire Bitcoin in 2020 then renamed it Strategy in 2025. Traders soon saw the company's stock as a proxy for the world's largest cryptocurrency, and bought up its shares as Bitcoin's price increased. For Strategy, the tactic proved so successful that it went on to accumulate more than $72 billion worth of the cryptocurrency and reached a market capitalization of almost $113 billion, despite reporting only $115 million in revenue in the second quarter of 2025. Crypto investors saw the boom in Strategy's valuation and followed suit. Early copycats included a budget hotel company in Japan, which began adding Bitcoin in 2024, as well as a handful of other companies that joined the trend later that year. But this year, the practice has accelerated. There are now treasury companies for Ethereum, the world's second-largest cryptocurrency. There are also others for a growing number of cryptocurrencies, including Litecoin, Sui, and Ethena. Meanwhile, another Trump family venture, Trump Media, bought $2 billion of Bitcoin earlier this summer for its own treasury. Advocates say the treasury companies let traditional investors, who may be constrained by what they can trade through brokerages like Vanguard, trade cryptocurrencies and gain exposure to the digital assets market. But an increasing number of investors have warned that the trend is a fad and say many of these companies may be at risk of collapse as the current crypto boom subsides. Aside from World Liberty Financial, which promises to launch different decentralized financial applications built around its token and stablecoin, President Donald Trump and First Lady Melania Trump have both launched their own memecoins. Eric and Donald Jr. are also deeply involved in the blockchain industry, including their backing of a Bitcoin mining company. This story was originally featured on

Primo Brands Second Quarter 2025 Earnings: Misses Expectations
Primo Brands Second Quarter 2025 Earnings: Misses Expectations

Yahoo

time26 minutes ago

  • Yahoo

Primo Brands Second Quarter 2025 Earnings: Misses Expectations

Explore Primo Brands's Fair Values from the Community and select yours Primo Brands (NYSE:PRMB) Second Quarter 2025 Results Key Financial Results Revenue: US$1.73b (up 32% from 2Q 2024). Net income: US$30.5m (down 44% from 2Q 2024). Profit margin: 1.8% (down from 4.1% in 2Q 2024). EPS: US$0.081 (down from US$52.89 in 2Q 2024). We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Primo Brands Revenues and Earnings Miss Expectations Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 83%. Looking ahead, revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Beverage industry in the US. Performance of the American Beverage industry. The company's shares are down 12% from a week ago. Risk Analysis We should say that we've discovered 2 warning signs for Primo Brands (1 shouldn't be ignored!) that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store