USPS preliminary net loss for July 2011 –$1.327 Billion, year to date nearly $2 Billion more than planned.
The US Postal Service filed its preliminary financial results for ten months of Fiscal Year 2011 with the Postal Regulatory Commission (PRC). USPS reported a net operating loss of $1.327 billion ending on July 31, 2011. After ten months into FY 2011 USPS reported a net loss of $7 Billion ($6.985) ending in July 2011 (same time last year USPS had a net loss of $6.143, the plan was $5.004 Billion .In October 2010 USPS saw a net profit of $283 Million, November 2010 net loss $456 million, December 2010 net loss $156 million, January 2011, net loss $451 million, February 2011, net loss $1.1 billion, March 2011, $657 million, April 2011 net loss of $747 million, May 2011 net loss $1.3 Billion, June 2011 net loss $900 million.
USPS saw a jump in year to date Vehicle Maintenance Service expenses of $112 million, Transportation YTD expenses rose to $426 million in FY 2011.
Preliminary financial results for the ten months ending on July 31,2011 via PRC.
Mail Volume and Mail Revenue
Employees must be reduced either forced retirements or buyouts are a must or USPS can keep on posting losses. Politics cannot pay the cost to keep Postal Service as it now exist. Start at top and reduce managers. Close offices not needed and place Postmasters at nearby larger offices as spervisors. This would reduce cost and reduce 204B acting supervisors. Reduce delivery days as this would reduce petroleum cost for 292,000 delivery vehicles as well as HCR cost.
Sell postal realestate. Small offices in suburban area good location for convience store as immigrants from India are buying due to special interest rates.
I still don’t believe any USPS figures. These guys lie.
Thee end is nigh!
The USPS will continue to loose money as the demand for Postal products will continue to decline resulting in revenue decline. The failure to increase revenue to cover increasing cost result in continuing to operate at mounting losses.
Contracts with unions and management agreements as to pay should be voided as the USPS is no longer a viable entity to be able to financially meet monatary agreements. Wasted cost such as Sat. street delivery must be eliminated. Post officies that are no longer needed or provide a duplication of services within a 5 mile radius should be closed. Eliminate levels of management that are duplications and are non essentials to meet cost effective operations.
CONGRESS MUST DO WHAT IT HAS TO DO OR CONTINUE TO POST MASSIVE LOSSES.
feed up. In our small office, the so-called old timers can run circles around the 30 something crowd. At least the old timers show up for work. One rookie uses or abuses more sick leave than all the old timers combined.
Small parcels are heavy on a daily basis first class mail still looks pretty heavy also. maybe its the useless management walking and driving around. Oh yeah driving govt vehicles not their own. Carriers that are past their prime and carriers that can’t do the job need to go.
I’m sorry folks. It’s a contract year and I just can’t beleive the horse manuer that these folks are trying to spread. We’ve cut routes, we’ve cut whol entire area management offices, we’ve reduced plants and still the numbers are negative? I’m not buying into the propoganda. Show me the carfax!