Skip to comments.US Postal Service loses $1.9 billion in last quarter
Posted on 05/11/2014 2:55:30 AM PDT by Libloather
The US Postal Service announced Friday that it lost $1.9 billion over its most recent quarter, despite bringing in more revenue during that three-month span.
The red ink means the cash-strapped agency has now lost money in 20 of the last 22 quarters. In all, the agency lost some $2.2 billion in the first six months of fiscal 2014, through March 31.
Postal officials again cited the losses to press lawmakers to enact a comprehensive overhaul of the agency, which has now lost more than $23 billion over the last two and a half years.
(Excerpt) Read more at presstv.ir ...
Won't that hurt Husseincare as well?
“Postal officials again cited the losses to press lawmakers to enact a comprehensive overhaul of the agency, which has now lost more than $23 billion over the last two and a half years.”
Overhaul meaning “hey guys, we need a taxpayer funded bailout.”
They raised the rent on my PO box from $74 to $94. I gave it back to them.
I went to mail a package. There were a dozen forms with cute marketing names. I filled one out, stood in line, then found it was not the right one. So I went back and got another one. There was no way to determine what each of the forms would cost me and to find out I’d have to stand in line again to ask the question. I took my package to UPS. I was able to complete the transaction in about four minutes at a cost of $9. I was able to talk to somebody. She was polite and wanted my business. I’ve sent the last thing by USPS.
$23 billion, huh?
Obama to spend $20 BILLION on helicopter program to replace his private fleet of 23 choppers
I heard stats on how much the US Postal Service loses every time gasoline goes up. It’s a lot.
Having said this, taking the union out of the post office will improve it immeasurably.
The Post Office is like congress, they think if they are losing money all they have to do is raise rates (taxes) all that does is result if less business. Now you send mail via email and packages via UPS or FedEx. If you have something that has to be delivered in original form you overnight it.
What? They're not running on solar power, "clean" electric, wind and unicorn waste?
Not to worry they’re armed to the teeth
Socialism Is Legal Plunder - Bastiat
Close every post office in Palookaville, USA. Sell the buildings. Take every government employee (including CONgress) off their taxpayer supported retirement scheme.
Stop the plunder.
I’ve been seeing a substantial decrease in junk mail ,, especially junk mail from local businesses.
Postal Service Motto:
Give poor service: Raise the price of postage.
Give even poorer service: Raise the price of postage.
Repeat over and over again..................
Then wonder why you keep losing customers.
The post office is resorting to fraud to make money. I’m convinced that they do not have honest scales. When mailing an overseas package from an online sale, the clerk told me that the postage was insufficient. I had weighed the package on an accurate scale, but the PO scale had bumped up the weight to just over the next increment for a higher rate, about $3 more. I was disgusted, but what could I do?
“I was disgusted, but what could I do?”
I agree. But as to what? UPS, FedEx, DHL...
About the only thing I’ll ever send USPS are Christmas cards. I conduct all of my bill payments online.
Well, it probably wouldn't get you better service and might get you thrown out, but bring a calibrated brass scale weight and put it on their scale to check the reading...
I consider myself very fortunate. Being treated like a piece of crap for wanting to ship a package is something I don't need, especially on a daily basis.
Why don't they use those new fangled electric cars?
I sent a letter with my condolences, to a recent widow in Siloam Springs, Arkansas. The death of a very prominent figure in the city, well known to all, had recently stopped using his Post Office Box. I put 2 addresses, the P.O. Box and the address of the son of the deceased. My letter was returned. Couldn’t find the widow to deliver the letter. I live in Mexico, my surname and name is very unusual. My mother put my name on the envelope and addressed it MEXICO. I lived in a remote village 100 miles from MExico City. The letter my mother sent me with my name and MEXICO...arrived in my city and was delivered. U.S. Postal services are robotized and full of inept people who only knew how to game the system to get a job.
Go to a different PO. Do this a few times to see which is the honest one. Or, go to a different clerk - one who weighs less.
I’ve kept a UPS store small box for years and to me, it has been worth it.
It you buy your postage there it is cheaper too.
E-mail tracking will let you know where your package is at all times.
Well, sort of. I am convinced that I have a package stuck in a sorting machine and I am even sure of where that machine is. Can't get them to take the machine apart and look though.
Ive kept a UPS store small box for years and to me, it has been worth it.
The reason I got the box was shortly after I moved into the countryside someone from a mile away called me and told me that there was a pile of letters addressed to me in their ditch. I went and picked them up. (This was back in the olden days when I had a number listed in something called the white pages, which, surprisingly, had nothing to do with race.) At about that time I found Id missed a payment on my credit card for the first time ever. Id never received the bill. My neighbor had similar issues. I waited at the box to talk to the letter carrier who was a contractor. He arrived high as a kite with a young woman, also high, sitting (and giggling) on his lap with her pants down. I went to complain and the people at the local post office would not speak to me. (They did think it was funny, though.) Thats why I got the box.
But, now I have a different contractor and the service has been acceptable so far. But its too late for all the bills. Technology moved on and I became an early adopter. I havent missed a payment and even if the USPS is not delivering all my mail I dont care any longer as I no longer need them.
I send everything via USPS but you have to completely stay away from their post offices and do it all online. Online is simple.
Overhaul of the agency sell it UPS or FedEx can do the job.
Why can’t they open at 6:00 AM and have a split shift to 9:00 PM so that people with the few remaining jobs don’t have to take time off their work to mail a package. The mail is a service industry and as such should be CONVENIENT for the customer. The same for the DMV, tax office, zoning permits etc..
I’m sure there are plenty of people who would take the job from 2:00 to 9:00 on the split.
“Im sure there are plenty of people who would take the job from 2:00 to 9:00 on the split.”
The post office is ossified. The labor rules written probably 100 years or more ago can not be changed. The cost of the benefits decreed by Congress are so onerous as to make hiring more employees fiscally impossible.
The problem, in a nutshell, is that the post office does not exist to provide a service, but instead exists to provide benefits to the employees.
Someone robbing the joint doesn't constitute much of a threat as there's nothing much left worthwhile to steal.
They “lost” $1.9 bn in one quarter, but they could afford millions of rounds of ammunition?
I have a little online vintage/resale clothing business. I have shipped about 500 shipments this year, since August. I weight them all first, buy the postage on line and drop off at the post office. I have never had a problem.
Additionally, I hate to tout the post office but at this writing --they have only lost/misdelivered two packages. (knock on wood). One was found and delivered after I put a trace on it.
Cost wise? They are much cheaper than UPS or FedEx. That is why I use 'em.
While most businesses and individuals were adapting to electronic commerce the USPS kept sticking to the Pony Express method and continually raising their rates at the same time.
What did they think was going to happen?
“What did they think was going to happen? “
It doesn’t matter what the business picture is. It’s not a business it’s a method of dispensing benefits to workers. It can’t be done away with and the workers know it. But, I suspect at some point the postmaster general will be a ceremonial office and the post office will exist in name only. It will not be capable of delivering anything except advertising and franking letters from Congress. There will be darned few employees.
Got to use a room at the local post office for a while and was cautioned to be extremely careful on where I parked because if I parked in a mail-carrier’s spot and they had to walk a longer distance, they would get paid by the foot for their extra steps. OTOH, the staff at at least two of our local post offices are very, very good. They just work in a screwed-up unionized bureaucracy.
“Got to use a room at the local post office for a while and was cautioned to be extremely careful on where I parked because if I parked in a mail-carriers spot and they had to walk a longer distance, they would get paid by the foot for their extra steps”
Someone was pulling your leg very hard.
Where, oh where, is FR’s resident USPS expert, muawiyah?
Banned many moons ago.
Once upon a time, it is rumored, the USPS was competent.
E.g., to whom might you guess the following was delivered?
Hint: the relevant zipcode (zips didn't exist then) is 01810. (Hint 2: a couple of preppy presidents were educated there).
Until UPS or FedEx opens offices in remote Alaska they can kiss my ass.
I can’t tell you how many times I have filled up a cart in Amazon or WalMart and go to checkout only to have numerous items tagged “unable to deliver to PO Box”. If I enter a physical address they say it’s not a good address.
I like my Post Office.
I just went through this. I dropped my smart phone and trashed it. No problem, I had insurance on it. After about ten minutes of trying to explain to the lady that the post office does not deliver to my physical address I finally gave up. We will see if it makes it to the post office with out getting sent back.
Ah...it’s always been that way. You mail at a pound and one ounce, you pay the next higher rate. That has been standard since forever.
Unable to deliver is due to restrictions by the post office not UPS or FedEx the post office has out lived it’s usefulness due to unions over costs.
The suppliers are shipping UPS not USPS. That’s why I can’t get certain items. Since Amazon went to shipping direct from suppliers instead of from Amazon itself I can no longer get a lot of items.
At least with FedEx they transfer in Anchorage to the USPS and I can get items shipped that way but most Amazon clients are UPS shippers.
When I shipped model airplanes in California I had to stop using UPS because of damage. USPS beats them hands down. FedEx is too expensive.