Posted on 08/05/2009 10:29:45 AM PDT by Oldeconomybuyer
A double-digit drop in mail volume helped pushed down third-quarter earnings at the U.S. Postal Service, which posted a loss of $2.4 billion for the quarter ended June 30.
The service, which has lost $4.7 billion so far this year, compared to a loss in the same period last year of $1.1 billion, said it expects to lose more than $7 billion by fiscal year’s end on Sept. 30.
(Excerpt) Read more at bizjournals.com ...
7B for the year? Isn’t that what the USPS pays in executive bonuses? And speaking of bonuses why isn’t Zero vilifying the USPS execs lie he did Wall St?
Oh, for the good ol’ USPS, which keeps on raising rates for increasingly sparse, spotty, and incompetent service. Yes, by all means, let’s let the same sorts of people who run the USPS run our healthcare services. Sign up for an appendectomy, wait several weeks for the operation, and wake up without a gall bladder.
$5 for a postage stamp — coming soon?
Little B.S. here, several years back I read an article that money that the P.O. collects goes to the general fund.At that time the total revenue was around 50 billion. Congress then appropiated say, 25 billion for the P.O. budget for one year. IF the PO. an extra 2 billion to make it till the next years’ ‘’appropiation’’ they would say the P.O. lost’’ 2 billion that year. If it had 2 billion left over they said it ‘’made a profit’’ of 2 billion that year. That’s why keep raising rates so often, it’s more bucks for the treasury.
I’ll predict by 2011...75-cent stamps, most rural route runs will be three days a week, and most air transport of mail will halt.
It was lost in the mail................
Did they check their sofa cushions or their other pants for the lost money?
Another well run government program.
Need to check the Cayman Islands, Luxembourg, Switzerland, Bahamas and South Africa..................
Courtesy ping. :)
>> I’ll predict by 2011...75-cent stamps, most rural route runs will be three days a week, and most air transport of mail will halt. <<
I would have no issue if they cut their workforce and changed their delivery schedule. They could just cut Residential deliveries by 1/2. Deliver to 1/2 of the city on Monday Wednesday and Friday, the other half Tuesday Thursday and Saturday. They could do that now and become solvent and not have to raise rates for years. but no it is a government employment project so they will keep tons of people employed for no good reason.
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