Revenues are up modestly for the US Postal Service as First-class Mail volumes continue to tumble "extremely" but package volumes are rising; however, USPS records a $1.9 billion loss in the last quarter, despite efforts to streamline efficiency and cut costs. The rise in package volumes appears related to a "Sunday delivery" deal with Amazon.com who "found a great fit with USPS' capability and desire." However, USPS says it needs $10 billion for deferred investments (i.e. Capex) and warns if it does not get its bailout:
*USPS SEES UNABLE TO MAKE $5.7B RETIREE PAYMENT W/OUT REFORM
Given USPS says no new employees have been hired and flexible scheduling used for Sunday delivery, we wondered who exactly is benefiting from the taxpayer funded desperation of the USPS to do anything for even loss-making revenues?
USPS is set to deliver Amazon packages on a Sunday...
Starting this week, the postal service will bring Amazon packages on Sundays to shoppers' doors in the Los Angeles and New York metropolitan areas at no extra charge. Next year, it plans to roll out year-round Sunday delivery to Dallas, New Orleans, Phoenix and other cities.
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Let them go!!! No more bailouts, which will be filled with pork spending.
ReplyDeleteMaybe if they weren't selling off buildings at such giant losses through Nancy Pelosi's husband, the gap wouldn't be so bad.
ReplyDeleteEnough is enough... shut them down. They have done to little to late.
ReplyDeleteI agree....let them go out of business....
ReplyDeletePrivatize it!!!!
ReplyDeleteEliminate pensions and eliminate new trainees.Problem solved.
ReplyDeletethe post office actually does a great job at what thye do, they have been forced to absorb other peoples pensions. this is the problem
ReplyDeleteThe post office = non productive people for the last 20 years.
ReplyDeleteNanticoke Post office = non productive people for the past 2 years. this a real joke of a place.
Every time I visit the post office the people there are talking on their cell phones or asleep.