The U.S. Postal Service didn’t celebrate its rare $307 million first-quarter profit in February, after Postmaster General Megan Brennan warned of strong “headwinds” that were projected to undo the agency’s optimism for the rest of the fiscal year.
On April 10, the Postal Regulatory Commission mandated that USPS reduce its postal rates for the first time in more than 100 years, a move that could cost the organization more than $2 billion in annual revenue.
The PRC allowed for the temporary increase in January 2014, in order for USPS to recoup losses sustained during the 2008 national recession. Following the change, the standard postal rate for letters is now 47 cents per ounce, down from 49 cents.
“Given our precarious financial condition and ongoing business needs, the price reduction required by the PRC exacerbates our losses,” said Brennan said in a statement ahead of the postal rate change.
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4 comments:
They showed a profit because of business as usual a bailout, one of many they've received over the last 30 years. There is no way for them to operate sis ally sound, IT WON'T ever be allowed.
That poor poor John Kasich,having to grow up with his father being a mail carrier and all.But seriously,those jobs always paid really good.Around here people would be glad to have a job like that.What would cause a person to belittle being a mail carrier? There is nothing "humble" about his beginnings.I call that attitude out of touch with the average US family.
gov't employees should be paid on a sliding scale according to the median wage of the area, employees of a post office serving 100 people should not be entitled to the same wages as someone dealing with hundreds of people a day like most unions they are overpaid and underworked if someone would care to check, with my 5 points veteran,s points i scored 103 on the post office test never seen or heard of anyone's over exerting themselves like the verizon employees, 47.98 overpaid blue collar employees for the region i have worked both,union and non-union and you can usually get more,and better quality work from a scab foe equal wages the unions are like politicians,the good ol boy club you scratch my back,i will return the favor bet to get some replies to this have a nice day
Just jack it up to 50 cents per ounce and leave us alone for five years.
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