Government Operations committee  Certainly on banking we looked at banking over the years. We had a couple of pilots on banking many years ago. The second one ended in 2006. Coming out of the 2008 economic recession we lost almost 20% of our assets in our pension plan; it was a general worldwide economic recessi

Government Operations committee  We looked nationally across the country and it was retail banking. What we found when we looked at the analysis, what we realized, was that the risks from a financial and reputational view were not worth looking after the potential benefits. On a cost-benefit—

Government Operations committee  The profit for dollar, what we call the contribution margin, would be much higher for transaction mail than parcels.

Government Operations committee  First of all, I would say it's very challenging to do forecasting at Canada Post when you have $6 billion of revenue, $6 billion of costs, so you have $12 billion; and you're trying to put a needle in, do I make $50 million a year, $100 million a year, or have a $50-million loss?

Government Operations committee  What I've said is that I think now, using my crystal ball, we could be in the range of $50 million profitable, $50 million loss.

Government Operations committee  A $50-million loss would mean that we would move from $45 million to.... For the back half of the year, we would be $100 million. I don't know what's going to happen to discount rates—

Government Operations committee  Not to get into too much detail, but there are obligations that we have on our balance sheet, obligations where the valuations depend on discount rates. If the discount rate is low at the end of the year, it's decided on one day, December 31, and whatever the rate is, it impacts

Government Operations committee  We successfully transitioned our management employees in 2010. A number of our unions have transitioned. There is no significant cost to changing over. We're not saying that moving to a DC for new employees is the total solution. We think there needs to be a very comprehensive so

Government Operations committee  We looked at and conducted our review of banking in 2010, and when we looked at it and considered a number of pieces of data, we felt that the risk that was involved in the corporation in terms of getting into banking could not be justified by the potential benefits, if there wer

Government Operations committee  Yes, the task force independent experts had access to all of the reports and analysis that we had conducted in 2010 on the banking analysis.