The loss will leave the Washington-based service unable to make required payments to the federal government and puts it at risk of default as it reaches its $15 billion borrowing limit, Donahoe said in testimony prepared for the Homeland Security and Governmental Affairs Committee hearing today.
“We are at a critical juncture,” Donahoe, who is also the service’s chief executive officer, wrote in his testimony. “Action from Congress is sorely needed by the close of this fiscal year.”
The Postal Service, which Donahoe predicts may lose $9 billion next year, is asking Congress to let it break union contracts to fire workers, loosen a requirement to pay now for future retirees’ health-benefit costs and end mail delivery on Saturdays.
Mail volume will decrease 2 percent from last year, marking the fifth consecutive year of declines, Donahoe said in the testimony. Mail volume has dropped 22 percent since 2006. The service previously predicted a $9 billion annual loss.
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7 comments:
$9 billion annual loss can go away with a request for proposals from Congress to take over the letter carrying business, per our Constitution!
Goodbye, USPS!
So Sorry.
However, maybe it will get rid of all that junk mail.
And
Save and protect trees and the environment because people will use of less paper.
Seems like when an enterprise fails unions are in the mix somewhere.
Seems like when an enterprise fails unions are in the mix somewhere.
September 6, 2011 9:27 PM
Seems like it doesn't it? The union bosses benefit by getting paid by the members.
Political people benefit by getting money from union bosses who get it from members.
Members benefit by getting good wages and benefits which the employer pays and charges the customer, which is us.
Seems everyone benefits except the customer, which is us.
The members are brainwashed into believing and even telling us that they are benefiting us by helping the middle class get better wages, better benefits and better working conditions in general.
Um, they haven't noticed that the middle class is disappearing?
The middle class is starving for employment. The middle class is starving for benefits. The middle class is starving for wages, let alone better wages.
So, it seems to me, the only ones benefiting are the politicians, the union bosses and the union members.
I fail to see anything we get out of unions. Except higher prices, bailouts, and corrupt politicians and union bosses.
Tell me again how unions are a good thing?
Tell me again how they are helping us (the middle class).
Tell me again how we should be thankful to the unions for our better wages. Our better benefits. Our better working conditions.
I just don't see any of that.
If mail volume has dropped 22% , I wonder if the staff has dropped with it.
I don't think so. Nanticoke is a joke , setting at the desk on their cell phones most of the day.
Of course Bivalve and Tyaskin are about the same to say nothing of Quantico.Bivalve lady stands outside and smokes every 15 minutes.
Sooo it the usps ceases to be....how do we get mail? lol
Yet another example of the government at work! Surprised?!
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