Oops! Correction: In November 2008, Postalreporter reported that Postmaster General John Potter received $867,459 in compensation. Other Postal Executives such as USPS Deputy Postmaster General & COO Patrick Donohoe received $600,026. Now almost two months the right-wing leaning Washington Times has written a lengthy article on the same issue. My question is how in the world can the Washington Times call it an exclusive when this piece of news was reported over two months ago? Here is an excerpt from the article:
Postmaster General John E. Potter recently warned that economic times are so dire that the U.S. Postal Service may end mail delivery one day a week and freeze executive salaries. But his personal fortunes are nonetheless rising thanks to 40 percent in pay raises since 2006, a $135,000 bonus last year and several perks usually reserved for corporate CEOs.
The changes, approved by the Postal Board of Governors and contained in a little-noticed regulatory filing in December, brought Mr. Potter’s total compensation and retirement benefits to more than $800,000 in 2008. That is more than double the salary for President Obama.
The new compensation package, much of it deferred to later years, goes beyond a newly beefed-up salary, now $263,575, that Congress arranged for him as part of a 2006 law to make top postal salaries more competitive with those in the private sector. At least four other postal officials got more than a quarter-million dollars in total compensation in 2008, according to Postal Service records reviewed by The Washington Times.
Lawmakers, already trying to limit compensation of Wall Street executives, have taken notice of Mr. Potter’s good fortune when the Postal Service is posting nearly $3 billion a year in losses and now wants to raise the price of a stamp by 2 cents.