Appearing on "America's Newsroom" with host Sandra Smith, Fredric Rolando said that the Postal Service is projected to lose about 50 percent of their revenue as a result of the coronavirus pandemic by the end of the fiscal year in September.
"And so, my message is: It's really vitally important to the American people that the next stimulus package provides funding to the Postal Service so that they can maintain their revenue stream to continue their operation through the pandemic crisis," he stated.
Democratic lawmakers were on the same page. New York Congresswoman Carolyn Maloney and Virginia Congressman Gerry Connolly sent a letter to Senate Majority Leader Mitch McConnell, R-Ky., in late March urging the Senate to pass a stimulus package with emergency funds to help save the Postal Service from bankruptcy.
More
https://www.foxnews.com/media/postal-service-on-verge-of-shutting-down-without-funding
36 comments:
Let it die.
With the age of email and other delivery options, they are no longer necessary.
Maybe they could cut expenses by stopping the shipment of junk mail.
BULLSHIT!! Take a ride through the post office on route 50. The parking lot is full of Mercedes SUV, range rivers, 40-60,000 dollar pickups. Something is just not right with the WHOLE picture
As a gray beard all these changes over the last 20 years in society just makes me say DAMN.
Not knocking change, we are in the 21st century and change is important.
But I still think DAMN.
FIRE ALL OF EM.
Delivering Amazon packages on Easter is all you need to know.
Stop Amazon deliveries on Sunday and stop delivering for Amazon and UPS below market rates.
In addition stop Sat. deliveries like they have been talking about for 20 years.
Like we are told all the time should have kept up with the times and been all digital.
Working for the Federal Government since 1965 I have seen many changes - employees paid enormous salaries; perform less duties. The Post Office was always separate from the Federal Government. Postal workers Health insurance through the Government had separate health insurance polices - better benefits. Believe the pay was better - now they want a hand out - NOT.
Everyone is so quick to judge. The issues are not with the foot soldiers who deliver mail in the snow, wind, rain, tropical storms etc...just so you can get your monthly check for sitting home, and so you can get your groceries delivered to your door because you are either to lazy or to good to shop like everyone else. Especially during this pandemic while you sit safely in your house and wait for the carrier to deliver right to your doorstep even while they are selflessly putting themselves in harms way to get your “essentials.” Think twice before you speak, these are people’s sons, daughters, husbands, wives and mothers and fathers risking their health and well being for YOU! The issue is with the management and the redundancy in upper levels who do very little and collect huge bonuses even when they do not show a profit. Very few other work as hard as these you take for granted!!! Stop the pre funding requirement and thin the upper management and you would see big changes in profitability.
*too good. Not to.
Do some research. They lose money because UPS and FedEx lobbyists snuck an insidious requirement into the law requiring accounting NO OTHER ENTERPRISE has to use. And because their competition cherry-picks the most lucrative routes. USPS goes to every house.
Everyone else who is essential is doing it 12:29 and some of us don't have cushy pensions. We are not sitting on our butts collecting a check ! We are going to the grocery store to buy things also. Some of us are making minimum wage and are DIRECTLY in contact with people all day. Hand to hand contact with people's merchandise and money. We work hard too but we are still required to be there !
It’s a government run “business.” Just remember this along with the VA hospitals when they want more control over industries, because, after all, they know what’s best.......
1229-They chose to work for a government enforced monopoly that can't figure out how to make ends meet and keeps having to come back to the taxpayers for more $$$. No thanks. Let the archaic monopoly die already. One less quasi-public sector union to worry about fleecing the taxpayers in seedy backroom deals with elected officials.
"these are people’s sons, daughters, husbands, wives and mothers and fathers risking their health and well being for YOU!"
I can hear the world's tiniest violin already. The purposes of USPS was. to provide a SERVICE to American's at a reasonable cost. That service USED to be first class mail (letters). Then came along Parcels and before USPS could respond, this need was provided by FEDEX, UPS, & others. The success that these privately run companies built were because of people’s sons, daughters, husbands, wives and mothers and fathers risking their health and well being for YOU! Are we saying that the family members who staff the private service providers should be put out on the street instead of USPS?
USPS has had more than enough time to re-engineer their business model while the private sector has succeeded. The Federal Government needs to start planning the transition so USPS can wind down. USPS can't and never will win. Stop trying to resist progress. It would not surprise me if USPS still maintains horses for the Pony Express in the basement of some downtown Washington building.
absolutely 12:29, my husband works contractual for post office, no benefits, yet he works all holidays to deliver your F*ing packages. Try to get your packages through email A*holes.
"They lose money because UPS and FedEx lobbyists snuck an insidious requirement into the law requiring accounting NO OTHER ENTERPRISE has to use."
Insidious? Requiring USPS to fund their own retirement plan is Insidous?
USPS charges about 50 cents to deliver a 1st Class letter. Before the 1st class business dropped off, they decided it was a good idea to deliver STD Class (junk) for 25 cents since they were going to every house anyway. When the First Class business dropped off and there wasn't' enough STD revenue to cover the total operating costs, did they raise to cost of STD service? No.... and they still kept delivering to every house.
How many know that, if a USPS employee takes employment (even part time) with a private business that competes with USPS, they can be fired on the spot. This isn't a labor. law, it's a Union policy.
Me trust the post office to oversee the voting process for the 2020 elections? You. gotta be kidding. Can you tell me why anyone would?
It's time to privatize the Post Office and Amtrak. They've been mooching off the taxpayers for way too long.
What f'ing packages are you all referring to?? I might get 10 the whole year. The post office used to cry about how ESSENTIAL they were because of first class mail. Now their crying being ESSENTIAL because of packages?? Remember this: the postal service had ALL delivery monopolized: first class letters/magazines, packages and overnight express mail. Guess what happened: they screwed it up so bad that Fed Ex and UPS just blew up, Fed ex even creating Fed ex ground. The ONLY REASON the postal service has Amazon and government medications to deliver is because they lose money doing it and the other companies aren't in the business of losing money!! Since 2007 the postal service has LOST 63 BILLION DOLLARS. It doesn't have anything to do with funding retirements either
The postal service isn't a government entity and hasn't been since 1985. As far as all this other garbage anybody DB enough to work for this outfit today getting hired for 90 days at a time with no retirement or health insurance is just a dumbass. The place has/is one of the most backstabbing two faced operations going.
@12:29 your preaching to the choir and I know first hand just how hard postal employees work at getting out of work.
You can go over to the office on route 50 ANY weekday I I guarantee you'll find up to 5-6 people sitting around doing NOTHING making 60 grand or better a year. They had two idiots over there that were the building maintenance mechanics one weighed a good 350 and all he did was worry about where to order lunch from and the other did crossword puzzles all day
NOT TRUE!! It literally takes an act of God to get fired from the a postal service. They might try to screw you over but you'll always get your job back or just retire with better benefits if you know what you're doing and have the time in
Who has more loafers than Kenny Shoes?
The postal service does!! A good days work and a glass of water would kill 2/3 of them working there. Time to close some more offices, cut the workforce by a 1/3 and got to a 10 hour four day work week
You know you have a bunch of dumbasses running the postal service when ALL you have to do is break even and you can't even get that right. I'll give it to them, like Pelosi herself they didn't let this crisis go to waste. They might squeeze by this go round but their days are definitely numbered
Lucrative businesses don't fail if managed properly
This article is about USPS 12:56. It's not about your job, but I do thank you for staying on the job in these tough times and think workers like you deserve more than minimum wage.
So if the USPS is desolved, where will the extra money go?
EVERY TIME THIS HAPPENS WITH THEM THEY "IMMEDIATELY" HAND OUT 200-300 MILLION DOLLAR IN BONUSES. THE MONEY WILL IMMEDIATELY EVAPORATE
Stop Wed. deliveries not Sat. That way there is no 2 consecutive days of no mail delivery
To ALL of you crying how difficult and hazardous delivering mail is give me a f'ing break. To the ones crying about loved ones and spouses that chose to take employment there knowing how bad off financially they were that's your own damn fault. And to those of you that have been riding that gravy train for the last 10,15,20 years thinking you were going to waltz right into retirement, HAHAHA. All those day of mail trucks hiding behind Johnny's on east main or mail trucks just sitting parked for over an hour are long gone. Time to tighten up those belts and pull yourselves up by the bootstraps cause it's about to get bumpy
For the fiscal year ending in Sept 2006, the USPS ran a profit of $900 million.
Then, in Dec 2006, Republicans mandated that the USPS pre-fund all of its retirements for the next 75 years, at a cost of $5 billion a year.
When was it you said the USPS started losing money? Oh, it was 2007.
I'm generally pleased with the mail. I send less since bills are paid online, like many others.
A big part of their money crunch is the funds they have to set aside for benefits that won't be payable for many years from now. As an example, what if you had to salt away the mortgage payments due 8 years from now, in addition to paying the mortgage each month in the present? Would kind of crimp your cash flow, wouldn't it? That's what USPS has to contend with; pay current healthcare benefits while paying for but not using funds for years way down the road.
If Congress removed this provision, it's found money and the cash flow picture brightens.
Just a customer; no other axe to grind.
@11:51 they've had ALL that 11 BILLION debt of non payment into the treasury department for these benefits wiped clean. They literally are starting fresh with a 10 billion dollar 0% interest loan to work with and you can't figure out how to restructure and at least break even? There problem IS their providing a service for less than it actually costs to do the job. They've been doing this for the last 20 years and now it's time to face the music
Post a Comment