The Postal Service continues its downward spiral, announcing a $354 million loss over the last three months. That's much better than previous quarters. The Postal Service credits cost-cutting combined with growth in package delivery. But Postmaster General Pat Donahoe rejects the idea that the agency has turned a corner. He says Congress has to pass a reform measure. A Senate panel last week approved a bill. It would end Saturday mail delivery, trim workers' compensation and make permanent a temporary hike in the cost of a first-class stamp.
the reason they are losing money is because they are now forced by new law to contribute into the federal workers union pension funds, beyond there own workers pension. if this regulation was removed they would be profitable
This is bogus -The USPS is today financing the retirement funds of future employees 18 years from now. This is a scam and I bet the money vanishes like everything Obama touches
They need a government bailout, like the banks got.
ReplyDeleteWhat they need is to separate themselves from the government!Ups and Fedx make millions you would think they could at least break even
ReplyDeletefunny how it worked when postage was cheap. every time they increase postage, they lose more revenue.
ReplyDeletehmmmmm.
1:04-Agreed,but the USPS is seriously top heavy.UPS and FedEx have streamlined their operations.
ReplyDeletethe reason they are losing money is because they are now forced by new law to contribute into the federal workers union pension funds, beyond there own workers pension. if this regulation was removed they would be profitable
ReplyDeleteStop the bleeding... pull the plug.
ReplyDeleteThis is bogus -The USPS is today financing the retirement funds of future employees 18 years from now. This is a scam and I bet the money vanishes like everything Obama touches
ReplyDelete321, they said that about my social security, Where is the money I put in there? Gone and spent. No principle, no interest, no cash.
ReplyDeleteThanks, FED.