The Postal Service ended its third fiscal quarter (April 1 – June 30) with a net loss of $5.2 billion, compared to a net loss of $3.1 billion for the same period last year.
Contributing significantly to the loss was $3.1 billion of expenses for the legislatively mandated prefunding of retiree health care plan. Despite positive news such as the 9 percent increase in revenue from shipping services and package delivery, losses are expected to continue until legislative changes are made in line with the Postal Service Business Plan to return to financial stability.
These changes include:
- Refund of $11 billion of pension plan overfunding.
- Transition to five-day delivery.
- Elimination of prefunding retiree benefits and the introduction of a postal health insurance program independent of federal programs.
“Moving forward with our business plan will make the Postal Service financially self-sustaining, provide a platform for future growth and preserve our mission to provide secure, reliable and affordable universal delivery services for generations to come,” said PMG Pat Donahoe.
How does 5.2 billion 3rd quarter loss get paid? Who pay for 2012 year loss in the bilions? New VP Bryan will eliiminate USPS excessive services which are wasted cost. 6 day strret delivery is needless as communication technology has advance to the point that using the mail purchasing a postage stamp and awaiting a 1-3 day delivery is a primitive communication method used in the 20th century. Revenue will continue to decrease as ist class mail volume the main source of revenue will continue to decline as instant messaging APPS are continually be introduced. USPS must close small community offices that are in 5-6 mile radius and a higher level office in the town surrounding these neighborhood surban offices that lost their need 35 years ago. Many of these officies have no delivery, some have 2-3 and POSTMASTERS WITH SALARIES FROM $63000.-$72000. HIGH SALARY TO SELL STAMPS AND BOX MAIL. A total waste as the return is a minus and whatever postal service is needed could be provided cost effective. Fuel cost for 195,000 postal vehicles and HCR must be reduced. 5 day street delivery would contribute to major cost reduction in vehicle and delivery operation cost and results would not impede postal services.
Landrover on Mars sending pictures of the red planet and USPS delivering advertising junk mail on Sat. in the red. WHAT A WASTE!
No Incentive for Thee, but 40 Grand for Me !!!
At a time when the Union leadership is holding up incentives for members, they have the nerve to even think about this…
Calling it a “Ponzi scheme”, former APWU President Bill Burrus has attacked what he claims are plans to offer some of the union’s many officers sizable incentives to retire. Burrus had previously criticized the union for having too many officers:
Elected positions throughout the union, including Business Agents and Resident Officers would be cherry picked for retirement incentives and would receive an amount determined by the executive board or president. This amount is expected to exceed $40,000 per incentive, sufficient to encourage the officer to retire. So for each officer who earns in the range of $100,000 or more per year, a postal retirement, plus 30 days severance pay, and unused annual leave will also be paid an incentive that is targeted on a personal level, while union members who want to retire cannot get a letter answered or a phone call returned. It would be nice if the Postal Service offered union members $40,000 or more when their positions are being abolished
This intricate plan is being developed and pursued at a time that the members whose dues will be used for this Ponzi scheme who are eligible to retire are being denied a postal incentive because of unrelated disputes; forty thousand or more for officers, and zip for the members.
via BurrusJournal.org – PLAN B.
when will the early outs for clerks come???/
make it NOW……. save the postal service…
donahue/guffey…… are you listening????
EARLY OUTS/INCENTIVES…..MAKE IT HAPPEN !!!!!!!!!!!
Is the Pig Guffey, afraid to talk, because he will lie and arrogantly tell you that you could have been out of here like the Mail Handlers?, yes , ask Burrus, ask your NBA, the APWU was offered the VER and Incentives in May, it was turned down under a premise it would not be paid or something to that effect, this came from reliable management sources in those “negotiations”, now King Guffey heads for the feast in LA, the APWU had a plan to thwart the VER-VSIP, to keep the dues rolling in until some of the National could bail out now, this 40k that Burrus talks about was part of the plan, in order to gather the monies to pay as a parting bonus with sick leave and vacation leave and you name it!, the denial in May was intentional, what Burrus talks about is the reason, the National is gathering in the dollars in order to bailout so many National officers at a time, tells you what is coming, all that work back is crap from the mouth of Guffey to mask the bailout by the national, just wait till the feast in LA.
PMG Donuthole needs to be fired immediately.
God help us if this MORON is successful getting a postal ran health care. If congress votes this in, then I say get rid of all congress memebers and get new ones. Oh we did that, and now look where they all are,…..on their tenth vacation of the year. As for 5 day delivery??? Mondays would be hell, and they would never have enough time to deliver all the mail on that day. We do not have enough clerks to work through all that mail in just 4 hours. Oh paper it looks good, as for in real life it doesn’t. I can see it now…..6 hrs later, and we still have not gotten our breaks.
Lost Patriot is a moron. It isn’t a business, stupid, it is a government service.
Postal ran health care. Be afraid, be very afraid!!
Shame Shame on the Civil Aviation Administration of Vietnam, CEO’s the world over could all learn from VietJetAir, “make our customers happy and to improve our customer service,” Nobody wants a loser.
“Judging by the amount of photos and videos that were taken by the delighted passengers on this VietJetAir flight, they weren’t offended at all by a performance mid-flight by bikini-clad beauty pageant contestants. Unfortunately, the Civil Aviation Administration of Vietnam wasn’t so amused by the aisle antics and has slapped the budget airline with a $1,000 fine for holding an “unapproved show” during a flight. An official from the airline said the display was to “make our customers happy and to improve our customer service,” and indeed, they do look very happy.”
Me So Very Happy 🙂
Lol at all the morons claiming we are understaffed with 80% of revenue going to payroll and a retirement fund that is already overstretched. If you are on the street for 10-12 hours a day you need an on vehicle camera keeping track of your exact location and time wasting practices with images of the entire cabin and vehicle surroundings. It is people like you that have brought this company to it’s knees with your daily three hour lunches.
80% of revenue is spent on labor! No bussiness on the planet can stay afloat with this disparity in spending. It is time to make the hard decisions and go to five day delivery.
The PMG always seems to want to balance the budget through cuts in employee benefits. It is time he admitted that the job he has is far beyond his scope of ability to perform. In corporate America any CEO reporting losses as such would be out the door. Management needs to be DRASTICALLY cut as it is clear given such a shortfall they are incapable of doing their jobs. Even if you subtract the payment to pre-fund health care you are still down 2.1 billion dollars for the quarter alone! As for The Tea Party,they are really “closet Republicans” who couch their agenda in patriotic rhetoric. It would not surprise me if the USPS becomes subject to ISSA – ROSS that the PMG and many of his area VP’s obtain lucrative positions in a new organization!
Just what i need . A postal run health care program . Leave it the F>>> alone , you a..holes cant do the job that you have now..
OUR CARRIERS ARE ALREADY ON THE STREETS 10 TO 12 HOURS A DAY. WE NEED CARRIERS AND CANNOT HIRE ANY. GOING TO 5 DAY DELIVERY WILL ONLY MAKE IT WORSE. PMG HAS NO CLUE. MANAGMENT HAS NO CLUE. IF YOU DO NOT TOUCH THE MAIL (CARRIER, CLERK OR MAILHANDLER) YOU ARE THE PROBLEM.
JUST WHEN YOU THINK IT COULDN’T GET ANY WORSE THE NEXT DAY SHOWS UP.
I HONESTLY THINK THE PMG HAS MADE A DEAL TO PRIVATIZE AND HE WILL PLAY A HUGE PART IN GETTING IT DONE. WHAT AN ASSHOLE.
WE COULD SAVE SOME MONEY BY NOT ADVERTISING IN THE OLYMPICS!! BUSINESS AS USUAL AT THE P.O. SPEND, SPEND, SPEND. NOW CRY, CRY,CRY.
Donuthole is a moron.
The problem now is that Congress (the House) has left town and done nothing, this was a deliberate attempt by the Republicans and the Tea Party to destroy the USPS. They knew the USPS was not going to make these payments without them doing their jobs. It’s sad, I thought the Tea Party was for the Constitution, but it appears they place vacationing ahead of a constitutionally mandated governmental entity. It is sad, really sad, maybe the USPS should shut down like the FAA did and we still report and get paid later. It is something that might need to happen because the House appears to not want to have anything to do with aiding the United States Postal Service soon to be the Postal Company.
Moving to 5 day delivery is stupid when we don’t have the clerks in our office to handle 6 day. Plus no business makes money when is cut back on service. Get rid of 60% of management and the post office would be fine.