Thank you for that question. I appreciate that.
Really, as I mentioned in my opening remarks, our delivery costs have been going up substantially and addresses have been added as we've been growing as a country. The costs on that are very significant. As you know, we deliver to every address every day. We're proud of that. We're pleased to do that, but the cost of being everywhere every day is getting higher every day.
At the same time, our revenues have been falling in terms of lettermail, which is our most profitable line of business. It's put us in a tough position financially in terms of our having adequate funding over the long term to make the kind of changes we need to make to modernize this company.
It needs to be modernized. It needs to be more agile. It needs to be more flexible. When I say “flexibility”, I mean regulatory flexibility, but also in areas of investment and decision-making.
We're in a category against some of the best competitors in the world and we have to be moving fast. I'm confident we can compete with them, but it needs to be a different model to do that.