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Saturday, May 12, 2012
USPS Loses $3.2 Billion In Second Quarter Of 2012
The Postal Service lost $3.2 billion in the second quarter of the fiscal year. While that was no surprise, the agency was hoping the bad news would persuade Congress to help it. The Postal Service blamed most of the losses on a requirement to prepay retirees' health benefits and asked Congress to repeal the law. Without lawmakers' help, officials said they would default on payments of about $11 billion this year. The news came a day after the Postal Service announced it had backed off a plan to close thousands of post offices. The proposal angered many rural lawmakers.
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5 comments:
Can someone explain this to me? Why is it Fed-ex and UPS seem to make money, while the postal service does nothing but lose money? Well I say eliminated it, or truley privatize it....get the government out of the management business, its pretty apparent they couldn't manage a thing!
The government couldn't run a lemonade stand and break even.
344 and 443 : Try reading the article. Maybe it will keep you from making stupid remarks. The USPS doesn't run at a loss. The Republicans in Congress have crippled the USPS through the pre-pay requirement. Fed-Ex and UPS don't have to meet that requirement.
One more time: The Republicans in Congress, in their attempt to destroy the USPS passed a law (google PAEA) which requires that the Post Office fund its retirement and healthcare for the next 75 years. No company does this.
But thanks for playing. - David Hearne
Fiscal responsibility is something that doesn't make sense to a government agency.At a time when the postal service is swinging toward obsolensence, the government will not allow necessary budget cuts to be made.The government couldn't run a lemonade stand and break even.
David Hearne,
If you read the article, they are PLANNING to have a 21 Billion loss by 2016! Ah, with absolutely NO suggestion to reverse it except reducing it by 1/2 billion a year! Most companies would see this and work on making another PLAN! But, nooooo! they're sticking to it.
I repeat 12:37, the government couldn't run a lemonade stand and break even.
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