USPS posts 2 billion quarterly loss

[pphilfran]

Sooner or later our brilliant minds in DC will have to address this situation...

Annual losses
2007 5.1 billion loss
2008 2.8 billion loss
2009 3.8 billion loss
2010 8.5 billion loss
2011 5.1 billion loss
2012 15.9 billion loss
2013 5.0 billion loss
Last quarter 2 billion loss

Plus they expect to miss the mandated retirement plan payments for this year....4th year...5.5 billion (in that range) a shot...

so....since 2007 the USPS has about 70 billion in losses or missed payments...

Quite a business plan....

[stoopified]

Using the USPS as a measuring stick does not bode well for Obamacare.

[badger]

At least they're doing something. Tulsa's losing it's distribution center (everyone's going through OKC now), for example.

They definitely need to do more, but it may involve some rural-ites and union-ites howling, kicking and screaming. Residents will lose door to door service, postal workers will lose future pension earnings... either by legislation or bankruptcy

[REDREX]

They need to privatize it while it still has some value-----90% of the mail I receive everyday goes right to the recycle-----Why do I want to subsidize advertising by mail

[TAFBSooner]

Bull $h!t!

They need to cancel the requirement that USPS pre-pay its retirement costs for the next 75 years. That's a requirement that no other entity - government or corporation - has ever faced, and one that has put an impossible drag on the sustainability of the postal service.

Although I too would love for them to stop subsidizing corporate advertising.

And badj, the R's will definitely work on cutting back or cutting out rural service. Universal service has knit the country together since postal service was included in the Constitution. Killing that idea is part of the 1%'s plan to kill off all parts of government that don't serve them directly.

[pphilfran]

Bull $h!t!

They need to cancel the requirement that USPS pre-pay its retirement costs for the next 75 years. That's a requirement that no other entity - government or corporation - has ever faced, and one that has put an impossible drag on the sustainability of the postal service.

Although I too would love for them to stop subsidizing corporate advertising.

And badj, the R's will definitely work on cutting back or cutting out rural service. Universal service has knit the country together since postal service was included in the Constitution. Killing that idea is part of the 1%'s plan to kill off all parts of government that don't serve them directly.

They haven't been paying the retirement cost for three years and still lost billions...at this point the requirement is not costing them a penny...they lost 5 billion last year and nearly 16 billion the prior year and didn't make the prepayment...add 5 billion to each years red ink if the make the payment

USPS has a plan that Congress refuses to approve...

They are not planning on cutting rural service...they want to cut some of the rural stations but not home delivery to rural areas...

Off the top of my head there are Post Offices in Marlow, Duncan, Comanche, Addington, Waurika, Hastings, Temple, and Walters, ...it would seem we could shut down a office or two and not severely impact the residents in outlying areas...

They want to also eliminate delivery one day of the week...


I don't think those plans are so terrible considering the billions being flushed down the toilet...

[pphilfran]

How is the USPS subsidizing advertising? They charge for the delivery and make a ton off of it....they are going to drive by your house on their daily route and stopping for seconds to place the junk mail in your mailbox is only a small part of the route overhead...

USPS has never received a penny of taxpayer dollars...though that may change in the future...

Mail revenue has tanked...see Email
Package revenue has risen...see Amazon

[pphilfran]

The prefunding they are required to make is ridicules....if they do get the rest of the business in the black the prefunding will drag them into the red...

[REDREX]

How is the USPS subsidizing advertising? They charge for the delivery and make a ton off of it....they are going to drive by your house on their daily route and stopping for seconds to place the junk mail in your mailbox is only a small part of the route overhead...

USPS has never received a penny of taxpayer dollars...though that may change in the future...

Mail revenue has tanked...see Email
Package revenue has risen...see Amazon---I am talking about the cost of a first class letter v. the bulk mail rates