Submission for OMB Review; Comment Request, 6222 [E8-1840]

Download as PDF 6222 Federal Register / Vol. 73, No. 22 / Friday, February 1, 2008 / Notices A $12.50 premium also provides protection in the event that Sunday delivery costs do not decrease quickly in response to a change in volume. Although there is currently a $5.50 cost difference between a Sunday delivery and a Monday–Saturday delivery, a reduction in Sunday deliveries may not result in short-term cost reductions, as staffing plans cannot be changed immediately, and because minimum staffing will need to be maintained. A premium of $12.50 provides additional margin to cover those costs. Using data from the FY 2007 Cost and Revenue Analysis, and elasticities from the Docket No. R2006–1 omnibus rate case, a premium of $12.50 on non-manifest Express Mail pieces guaranteed for Sunday or holiday delivery will likely yield a pro-forma contribution increase between $3.1 million and $3.8 million. This increase results from additional revenue generated by the premium plus net cost savings from pieces that move out of Sunday delivery. Manifest pieces are exempt from the premium because the small number of these pieces does not justify changing the manifest system at this time. mstockstill on PROD1PC66 with NOTICES Analysis of Sunday Delivery Demand and Contribution Applying the system-wide Express Mail own-price elasticity implies a volume loss of slightly less than 250,000 Express Mail pieces; rather than disappear, however, the vast majority of these pieces will move into Express Mail guaranteed for Monday (or day after holiday) delivery or into Priority Mail. Express Mail pieces that move to Monday still increase contribution despite the lack of a premium, because of the extra cost of Sunday delivery. Contribution from pieces that migrate into Priority Mail will decrease only about 78 cents per piece, on average. There is some risk to these projections. Assuming that 90 percent of the volume lost from Express Mail on Sunday will migrate to Monday delivery (about two-thirds) or Priority Mail (about 23 percent), and therefore stay within the Postal system. It will provide at least some contribution. It is possible, however, that these pieces might either switch to another carrier or disappear altogether (for instance, through electronic diversion of bill payments). To the extent that this possibility is underestimated, the net contribution increase resulting from the premium would be overestimated. If no lost volume migrates to Monday delivery, contribution gain will nonetheless be about half of the estimate, assuming that this Express Mail volume has an own-price elasticity of demand equal to or lower than that of Express Mail as a whole. If that assumption is not valid, contribution gain from the premium will be lower, though the price response would have to be more than twice that of the product as a whole before we would be at risk of a net loss of contribution. These factors support the conclusion that a $12.50 premium on non-manifest Express Mail presented for Sunday or holiday delivery will result in a net gain in contribution for both Express Mail and for competitive products as a whole. VerDate Aug<31>2005 18:22 Jan 31, 2008 Jkt 214001 Compliance With Relevant Law Because the premium will likely increase contribution for both Express Mail and for competitive products as a whole, this new premium will not raise an issue of subsidization of competitive products by market dominant products, (39 U.S.C. 3633(a)(1)), or have a negative effect on the ability of Express Mail to cover its attributable costs (39 U.S.C. 3633(a)(2)), or for competitive products as a whole to comply with 39 U.S.C. 3633(a)(3), which, as implemented by 39 CFR 3015.7 (c), requires competitive products to cover a minimum of 5.5 percent to the Postal Service’s total institutional costs. Certification of Governors’ Vote in the Governors’ Decision No. 08–2 I hereby certify that the following Governors voted by paper ballot on adopting Governors’ Decision No. 08–2: Mickey D. Barnett James H. Bilbray Carolyn Lewis Gallagher Louis J. Giuliano Alan C. Kessler Thurgood Marshall, Jr. James C. Miller III Katherine C. Tobin Ellen C. Williams The vote was 9–0 in favor. Dated: January 17, 2008. Wendy A. Hocking, Secretary of the Board of Governors. [FR Doc. E8–1781 Filed 1–31–08; 8:45 am] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 206(4)–4; SEC File No. 270–304; OMB Control No. 3235–0345. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget a request for extension of the previously approved collections of information discussed below. The title for the collection of information is ‘‘Rule 206(4)–4’’ (17 CFR 275.206(4)–4) under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.). Rule 206(4)–4 requires advisers to disclose certain financial and disciplinary information to clients. The disclosure requirements in rule 206(4)– 4 are designed so that a client will have PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 information about an adviser’s financial condition and disciplinary events that may be material to an evaluation of the adviser’s integrity or ability to meet contractual commitments to clients. Respondents are registered investment advisers with certain disciplinary history or a financial condition that is reasonably likely to affect contractual commitments. We estimate that approximately 1,839 advisers are subject to this rule. The rule requires approximately 7.5 burden hours per year per adviser and amounts to approximately 13,793 total burden hours (7.5 × 1,839) for all advisers. The disclosure requirements of rule 206(4)–4 do not require recordkeeping or record retention. The collection of information requirements under the rule are mandatory. Information subject to the disclosure requirements of rule 206(4)–4 is not submitted to the Commission. Accordingly, the disclosures pursuant to the rules are not kept confidential. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Please direct general comments regarding the above information to the following persons: (i) Desk Officer for the Securities and Exchange Commission, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or e-mail to: Alexander_T._Hunt@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days of this notice. Dated: January 28, 2008. Nancy M. Morris, Secretary. [FR Doc. E8–1840 Filed 1–31–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of Investor Education and Advocacy, Washington, DC 20549–0213. Extension: Rule 17e–1; SEC File No. 270–224; OMB Control No. 3235–0217. E:\FR\FM\01FEN1.SGM 01FEN1

Agencies

[Federal Register Volume 73, Number 22 (Friday, February 1, 2008)]
[Notices]
[Page 6222]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-1840]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Rule 206(4)-4; SEC File No. 270-304; OMB Control No. 3235-0345.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (``Commission'') has submitted to the Office of Management 
and Budget a request for extension of the previously approved 
collections of information discussed below.
    The title for the collection of information is ``Rule 206(4)-4'' 
(17 CFR 275.206(4)-4) under the Investment Advisers Act of 1940 (15 
U.S.C. 80b-1 et seq.). Rule 206(4)-4 requires advisers to disclose 
certain financial and disciplinary information to clients. The 
disclosure requirements in rule 206(4)-4 are designed so that a client 
will have information about an adviser's financial condition and 
disciplinary events that may be material to an evaluation of the 
adviser's integrity or ability to meet contractual commitments to 
clients. Respondents are registered investment advisers with certain 
disciplinary history or a financial condition that is reasonably likely 
to affect contractual commitments. We estimate that approximately 1,839 
advisers are subject to this rule. The rule requires approximately 7.5 
burden hours per year per adviser and amounts to approximately 13,793 
total burden hours (7.5 x 1,839) for all advisers.
    The disclosure requirements of rule 206(4)-4 do not require 
recordkeeping or record retention. The collection of information 
requirements under the rule are mandatory. Information subject to the 
disclosure requirements of rule 206(4)-4 is not submitted to the 
Commission. Accordingly, the disclosures pursuant to the rules are not 
kept confidential. An agency may not conduct or sponsor, and a person 
is not required to respond to, a collection of information unless it 
displays a currently valid control number.
    Please direct general comments regarding the above information to 
the following persons: (i) Desk Officer for the Securities and Exchange 
Commission, Office of Management and Budget, Room 10102, New Executive 
Office Building, Washington, DC 20503 or e-mail to: Alexander--T.--
Hunt@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information 
Officer, Securities and Exchange Commission, C/O Shirley Martinson, 
6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: 
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30 days 
of this notice.

    Dated: January 28, 2008.
Nancy M. Morris,
Secretary.
 [FR Doc. E8-1840 Filed 1-31-08; 8:45 am]
BILLING CODE 8011-01-P