The U.S. Postal Service reported a fiscal second-quarter loss of $2 billion, primarily due to costs it said were out of its control.
When considering only its business operations, the post office said “controllable” earnings for the three months ending March 31 jumped 84% to $576 million from $313 million in the same period a year ago.
Revenue grew 4.7% to $17.7 billion, as 1.9% growth in standard mail, a 0.7% increase in first-class mail and an 11% jump in shipping and packages, offset a 5.6% decline in periodicals.
In comparison, United Parcel Service Inc. UPS, +0.93% reported revenue growth for the quarter ended March 31 of 3.2%, while FedEx Corp. FDX, +0.59% said revenue for the quarter ended Feb. 29 increased 8%.
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7 comments:
Does that surprise anyone ? They are so used to losing money that it's now become " state of the art " for this government. "Obama nation" , how many trillions are we in for now? Don't you just love that SOB !
When we get a businessman who has some understanding of basic economics in the White House, maybe it will be shut down. Until then, the taxpayers will continue to fund this losing entity just like we fund every other failed government program.
The Postal Service is financially strapped because Congress demanded that they fully fund their pension account for the next 30 years. This has never been required of any organization and is certainly not the way private business operates. Congress is trying very hard to make the USPS look like a failure.
For all of those who like to bash the PO, a quick question: If you have a legal document that MUST be delivered to a specific address by a specific date do you use UPS, FedEx or the USPS? Who can you hold legally accountable for mis-delivery?
its all about the Union Pensions. they cannot absorb them
8:21 what a friggin joke. They lost my package in Kansas and said oops.
So what good is a tracking number? So I know where it got lost. Because no one had done a thing to find it. The shipper has to file a claim, not me, not the PO who knows they lost it.
This isn't the first time either, so when I need it shipped overnight I pay for Fed Ex.
Sorry pal but you bumbling idiots didn't win my confidence.
how many packages have you not gotten lost?
Put the government in charge of anything and you know whats going to happen.
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