USPS Reports Net Loss Of $1.6 Billion For Month Of April –YTD Retirement Pre-Funding Expense Reaches $7.1 Billion

The USPS reported a net loss of $1.6 ($1.592) billion for April 2012 according to preliminary (unaudited) data submitted to the Postal Regulatory Commission (PRC). USPS is attributing $1.017 billion of that amount to the Postal Service’s Retiree Health Benefit pre-funding expense.  USPS is also reporting a year-to-date fiscal year loss of $8.1 billion ($8.056). […]

USPS YTD Loss of $5.7B–Retiree Health Benefit Pre-Funding Expense $5.1B

The USPS had a net loss of $1.108 billion for February 2012 according to preliminary (unaudited) data submitted to the Postal Regulatory Commission (PRC). USPS is attributing $1.017 billion of that amount to the Postal Service’s Retiree Health Benefit pre-funding expense. USPS is also reporting a year-to-date fiscal year loss of $5.669 billion. The same […]

USPS Reports $1.3 Billion Loss for January 2012

The USPS had a net loss of $1.262 billion in January 2012 according to preliminary (unaudited) data released by the Postal Regulatory Commission (PRC). USPS is attributing $1.017 billion of that amount to the Postal Service’s Retiree Health Benefit pre-funding expense. USPS is also reporting a year-to-date fiscal year loss of $4.5 billion (USPS reported […]

Congresswoman Maxine Waters’ introduces legislation to reform USPS’s profit-exhausting mandates

Washington, Feb 8 – Yesterday, Rep. Waters introduced H.R. 3916, the Protecting Post Offices Act, which would reduce the operating costs of the US Postal Service to provide continued service in urban and rural communities and save 28,000 American jobs. She is joined by American Postal Workers Union, AFL-CIO in support of this much needed […]

USPS Ends FY First Quarter 2012 With Net Loss Of $3.3 billion

Postal Service Losses Continue in First Quarter; Profitability Dependent on Comprehensive Legislation and Network Size Reductions Shipping Services Business Continues to Grow WASHINGTON — The U.S. Postal Service ended the first three months of its 2012 fiscal year (Oct. 1 – Dec. 31, 2011) with a net loss of $3.3 billion. Management expects large losses […]

2006 Postal Reform Law Continues to Drive Up USPS Net Losses For FY 2012

USPS Needs New Math to Explain November 2011 Net Loss of $1.8 Billion The US Postal Service filed its second month preliminary financial report of the 2012 fiscal year (unaudited) with the Postal Regulatory Commission (PRC) . USPS reported a net operating loss of $1.267 billion for the month of  November 2011. This same period […]

Editorial: USPS Financial Crisis, Self Inflicted?

Can USPS Management Be Trusted to Repair It’s Own Damage? The article below was written several months ago but it’s still a timely. There are some very simple factors and a deliberate unspoken agenda that explain everything that is going on with the financial “crisis” and proposed “cures” at the US Postal Service today. First […]

USPS Financial History Summary 2007-2011

Below is a summary of USPS’ Financial History from 2007-2011. The summary shows that USPS  net financial losses started after the “Postal Accountability and Enhancement Act”  (PAEA)  was passed into law  on December 20, 2006.  The PAEA  required USPS to pre-fund its Retiree Health Benefit Fund for current and future employees.  According to USPS, ” we […]

NY Congressman Condemns USPS Plan To Correct Financial Woes by Closing Post offices

and Slashing hundreds of  Thousands Of Jobs From the office of Congressman Eliot Engel (D-NY-17) POST OFFICE NEEDS OVERHAUL, NOT U-HAULS 11/18/11 Washington, DC — Congressman Eliot Engel (D-NY-17) issued the following statement condemning the U.S. Postal Service for singling out post offices for closure, and considering slashing hundreds of thousands of jobs, while failing […]

DOJ Advises USPS To Resume FERS Payments Despite Overfunding Of $11.4 Billion

According to USPS: In June 2011, both the Postal Service and OPM agreed to seek a resolution  surrounding the Postal Service’s’ decision to withhold payments of its FERS contributions by submitting a request for a legal opinion from the Office of Legal Counsel (OLC) at the Department of Justice. Based on advice received from the […]