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Post Office loses $3.8 Billion. (1 Viewer)

Andy Dufresne

Andy Dufresne

Footballguy
Link

Postal Service reports $3.8 billion loss

Agency continues to lose money despite $10 billion in cost-cutting measures. Mail volume drops by 25 billion pieces in the fiscal year.

NEW YORK (CNNMoney.com) -- The U.S. Postal Service reported a $3.8 billion loss in the 2009 fiscal year, despite $10 billion in cost-cutting measures.

During the year ended Sept. 30, the cash-strapped agency cut 40,000 jobs, but still employs over 712,000 people. Those cuts, combined with reduced overtime hours and lower transportation-related costs, shaved $6 billion in expenses.

Additionally, the USPS reduced the payments it made for retiree health benefits by $4 billion.

This is the third year in a row that the agency has posted a loss. The USPS, which lost $2.8 billion in fiscal 2008, and $5 billion in 2007, is a self-supporting government agency that receives no tax dollars. It relies solely on the sale of postage and products and services to generate sales.

The Postal Service reported operating revenue of $68.1 billion, down 9% from last year, while its operating expenses fell to $71.8 billion, down 7% from 2008.

The service's total mail volume plunged by more than 25 billion pieces, or 12.7%, to 177.1 billion pieces.

Due to a continuing decline in mail volume, the agency has been considering a slew of cost-cutting measures, including temporarily reducing mail delivery to five days a week, effectively ending Saturday delivery.
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Last edited by a moderator:
How much did the military lose? They also need to up the revenue side, I say they moonlight in piracy.

 
Yeah, like Obama would have the courage to throw 700,000 unionized employees out of work.

More likely he'll give them a raise.

 
Andy Dufresne said:
Link

Postal Service reports $3.8 billion loss

Agency continues to lose money despite $10 billion in cost-cutting measures. Mail volume drops by 25 billion pieces in the fiscal year.

NEW YORK (CNNMoney.com) -- The U.S. Postal Service reported a $3.8 billion loss in the 2009 fiscal year, despite $10 billion in cost-cutting measures.

During the year ended Sept. 30, the cash-strapped agency cut 40,000 jobs, but still employs over 712,000 people. Those cuts, combined with reduced overtime hours and lower transportation-related costs, shaved $6 billion in expenses.

Additionally, the USPS reduced the payments it made for retiree health benefits by $4 billion.

This is the third year in a row that the agency has posted a loss. The USPS, which lost $2.8 billion in fiscal 2008, and $5 billion in 2007, is a self-supporting government agency that receives no tax dollars. It relies solely on the sale of postage and products and services to generate sales.

The Postal Service reported operating revenue of $68.1 billion, down 9% from last year, while its operating expenses fell to $71.8 billion, down 7% from 2008.

The service's total mail volume plunged by more than 25 billion pieces, or 12.7%, to 177.1 billion pieces.

Due to a continuing decline in mail volume, the agency has been considering a slew of cost-cutting measures, including temporarily reducing mail delivery to five days a week, effectively ending Saturday delivery.
Click to expand...
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Now imagine they were black owned sub-prime CDOs.
 
Shut it down. The only things I ever get are...

bills - send via email instead

junk mail - just stop sending

magazines - send via private carrier

 
Andy Dufresne said:
If you're not going to shut it down, at least end its monopoly.
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Had a professor in college that told us about an assignment he gave out one time to come up with a business idea. A group of students actually created a business in town to deliver advertisements for local businesses. Within 3 days the Post Office came in and threatened them with jail time. Total thugs.
 
Yankee23Fan said:
Andy Dufresne said:
Fennis said:
Shut it down
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Why do you hate the Constitution?
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Good point. Hmmm....Edit: I guess I would say that just because it has the right do do it doesn't mandate that they have to do it.
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Nah, there will always be a post office. Doesn't mean it can't be run more effectively though.
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The Post Office is a big money suck, and needs reform. I am not sure that opening up to competition is the right answer. Otherwise the government will end up only delivering to rural areas and lose the more profitable urban business to UPS or FedEx or whoever.Six day delivery is ridiculous.

 
Fennis said:
Yankee23Fan said:
Andy Dufresne said:
Fennis said:
Shut it down
Click to expand...
Why do you hate the Constitution?
Click to expand...
Good point. Hmmm....Edit: I guess I would say that just because it has the right do do it doesn't mandate that they have to do it.
Click to expand...
Nah, there will always be a post office. Doesn't mean it can't be run more effectively though.
Click to expand...
The Post Office is a big money suck, and needs reform. I am not sure that opening up to competition is the right answer. Otherwise the government will end up only delivering to rural areas and lose the more profitable urban business to UPS or FedEx or whoever.Six day delivery is ridiculous.
Click to expand...
A little more competition wouldn't hurt it, but that is always my fall back position. They should have gone to a 5 day delievery schedule a long time ago.
 
I know it's tradition to rag on the Post Office, but don't they actually do a good job most of the time nowadays? I pay almost all my bills online, but it's pretty amazing that I can leave an envelope in my mailbox in Maryland on Monday and have it show up anywhere in the country I want it to go in 2 or 3 days, for 42 cents. I can't remember the last time I had a big problem with the Post Office.

 
The_Man said:
I know it's tradition to rag on the Post Office, but don't they actually do a good job most of the time nowadays? I pay almost all my bills online, but it's pretty amazing that I can leave an envelope in my mailbox in Maryland on Monday and have it show up anywhere in the country I want it to go in 2 or 3 days, for 42 cents. I can't remember the last time I had a big problem with the Post Office.
Click to expand...
I really don't have a problem with the service they do. They've done a good job of, well, doing a good job.But at what price?
 
Andy Dufresne said:
The_Man said:
I know it's tradition to rag on the Post Office, but don't they actually do a good job most of the time nowadays? I pay almost all my bills online, but it's pretty amazing that I can leave an envelope in my mailbox in Maryland on Monday and have it show up anywhere in the country I want it to go in 2 or 3 days, for 42 cents. I can't remember the last time I had a big problem with the Post Office.
Click to expand...
I really don't have a problem with the service they do. They've done a good job of, well, doing a good job.But at what price?
Click to expand...
42 cents.
 
Andy Dufresne said:
The_Man said:
I know it's tradition to rag on the Post Office, but don't they actually do a good job most of the time nowadays? I pay almost all my bills online, but it's pretty amazing that I can leave an envelope in my mailbox in Maryland on Monday and have it show up anywhere in the country I want it to go in 2 or 3 days, for 42 cents. I can't remember the last time I had a big problem with the Post Office.
Click to expand...
I really don't have a problem with the service they do. They've done a good job of, well, doing a good job.But at what price?
Click to expand...
.42 cents. Didn't you read? But seriously. If volume is down cut the number of post offices and enlarge routes for carriers. I mean, you adjust to the size of your market. I know they're considering some of these things but I don't think they've happened yet.
 
The post office isn't run to well, we live in a small village and have to get our mail from a P.O. Box in the village as they won't do local delivery, this department will then drive to all houses in a 20 mile radius to deliver their mail since they are part of the outskirts of the village. I mentioned to the postmaster that it would make more sense financially to make the people 20 miles out have P.O. boxes and then do local delivery since it would be a walking route and they could save a fortune on gas. She told me that she had requested that when she first took over the office and they informed her that this is way they have done it for over 100 years and they don't want to change something that works.

huh.

d

 
Homer J Simpson said:
Andy Dufresne said:
The_Man said:
I know it's tradition to rag on the Post Office, but don't they actually do a good job most of the time nowadays? I pay almost all my bills online, but it's pretty amazing that I can leave an envelope in my mailbox in Maryland on Monday and have it show up anywhere in the country I want it to go in 2 or 3 days, for 42 cents. I can't remember the last time I had a big problem with the Post Office.
Click to expand...
I really don't have a problem with the service they do. They've done a good job of, well, doing a good job.But at what price?
Click to expand...
42 cents.
Click to expand...
Apparently, it's actually $3,800,000,000.42.
 
bahamallama said:
The post office isn't run to well, we live in a small village and have to get our mail from a P.O. Box in the village as they won't do local delivery, this department will then drive to all houses in a 20 mile radius to deliver their mail since they are part of the outskirts of the village. I mentioned to the postmaster that it would make more sense financially to make the people 20 miles out have P.O. boxes and then do local delivery since it would be a walking route and they could save a fortune on gas. She told me that she had requested that when she first took over the office and they informed her that this is way they have done it for over 100 years and they don't want to change something that works.huh.d
Click to expand...
Why do you sign your posts with a "d" when there is no "d" in bahamallama?
 
The problem is that the average postal worker salary is in the area of $50,000 a year. No offense to the postal workers out there but a postal worker shouldn't make more than $10 - $12 an hour......

 
Leroy Hoard said:
bahamallama said:
The post office isn't run to well, we live in a small village and have to get our mail from a P.O. Box in the village as they won't do local delivery, this department will then drive to all houses in a 20 mile radius to deliver their mail since they are part of the outskirts of the village. I mentioned to the postmaster that it would make more sense financially to make the people 20 miles out have P.O. boxes and then do local delivery since it would be a walking route and they could save a fortune on gas. She told me that she had requested that when she first took over the office and they informed her that this is way they have done it for over 100 years and they don't want to change something that works.huh.d
Click to expand...
Why do you sign your posts with a "d" when there is no "d" in bahamallama?
Click to expand...
because I'm a dolphins fan and we don't have a d!Seriously though, it's the initial of my first name. I tend to sign my posts with it.d
 
HERBERT THE HIPPO said:
The problem is that the average postal worker salary is in the area of $50,000 a year. No offense to the postal workers out there but a postal worker shouldn't make more than $10 - $12 an hour......
Click to expand...
reminded me of the Cheers episode where Norm gets the chimp to come into the bar and deliver the mail :)Woody signs for it :lmao:
 
HERBERT THE HIPPO said:
The problem is that the average postal worker salary is in the area of $50,000 a year. No offense to the postal workers out there but a postal worker shouldn't make more than $10 - $12 an hour......
Click to expand...
Yeah, then a lower quality of worker would be in charge of my mail.G'luck with that.
 
RedmondLonghorn said:
MaddHatter said:
HERBERT THE HIPPO said:
The problem is that the average postal worker salary is in the area of $50,000 a year. No offense to the postal workers out there but a postal worker shouldn't make more than $10 - $12 an hour......
Click to expand...
Yeah, then a lower quality of worker would be in charge of my mail.G'luck with that.
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:shrug:Have you been in a post office?
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LOL--nice. That certainly works as an example of every post office I have been in. Besides for repetition, why is their job so stressful? I don't get why they would snap. Seems like pretty easy, mind numbing work to me for a good wage and good benefits. Weather might be a big downside, but tell that to the construction guys etc.
 
Andy Dufresne said:
Link

Postal Service reports $3.8 billion loss

Agency continues to lose money despite $10 billion in cost-cutting measures. Mail volume drops by 25 billion pieces in the fiscal year.

NEW YORK (CNNMoney.com) -- The U.S. Postal Service reported a $3.8 billion loss in the 2009 fiscal year, despite $10 billion in cost-cutting measures.

During the year ended Sept. 30, the cash-strapped agency cut 40,000 jobs, but still employs over 712,000 people. Those cuts, combined with reduced overtime hours and lower transportation-related costs, shaved $6 billion in expenses.

Additionally, the USPS reduced the payments it made for retiree health benefits by $4 billion.

This is the third year in a row that the agency has posted a loss. The USPS, which lost $2.8 billion in fiscal 2008, and $5 billion in 2007, is a self-supporting government agency that receives no tax dollars. It relies solely on the sale of postage and products and services to generate sales.

The Postal Service reported operating revenue of $68.1 billion, down 9% from last year, while its operating expenses fell to $71.8 billion, down 7% from 2008.

The service's total mail volume plunged by more than 25 billion pieces, or 12.7%, to 177.1 billion pieces.

Due to a continuing decline in mail volume, the agency has been considering a slew of cost-cutting measures, including temporarily reducing mail delivery to five days a week, effectively ending Saturday delivery.
Click to expand...
Click to expand...
How much profit was the US Mail making in its heyday?
 
Last edited by a moderator:
GroveDiesel said:
Andy Dufresne said:
If you're not going to shut it down, at least end its monopoly.
Click to expand...
Had a professor in college that told us about an assignment he gave out one time to come up with a business idea. A group of students actually created a business in town to deliver advertisements for local businesses. Within 3 days the Post Office came in and threatened them with jail time. Total thugs.
Click to expand...
Lysander Spooner teaching this class?
 
Leroy Hoard said:
bahamallama said:
The post office isn't run to well, we live in a small village and have to get our mail from a P.O. Box in the village as they won't do local delivery, this department will then drive to all houses in a 20 mile radius to deliver their mail since they are part of the outskirts of the village. I mentioned to the postmaster that it would make more sense financially to make the people 20 miles out have P.O. boxes and then do local delivery since it would be a walking route and they could save a fortune on gas. She told me that she had requested that when she first took over the office and they informed her that this is way they have done it for over 100 years and they don't want to change something that works.huh.d
Click to expand...
Why do you sign your posts with a "d" when there is no "d" in bahamallama?
Click to expand...
he is dracula
 
Da Guru said:
Andy Dufresne said:
Link

Postal Service reports $3.8 billion loss

Agency continues to lose money despite $10 billion in cost-cutting measures. Mail volume drops by 25 billion pieces in the fiscal year.

NEW YORK (CNNMoney.com) -- The U.S. Postal Service reported a $3.8 billion loss in the 2009 fiscal year, despite $10 billion in cost-cutting measures.

During the year ended Sept. 30, the cash-strapped agency cut 40,000 jobs, but still employs over 712,000 people. Those cuts, combined with reduced overtime hours and lower transportation-related costs, shaved $6 billion in expenses.

Additionally, the USPS reduced the payments it made for retiree health benefits by $4 billion.

This is the third year in a row that the agency has posted a loss. The USPS, which lost $2.8 billion in fiscal 2008, and $5 billion in 2007, is a self-supporting government agency that receives no tax dollars. It relies solely on the sale of postage and products and services to generate sales.

The Postal Service reported operating revenue of $68.1 billion, down 9% from last year, while its operating expenses fell to $71.8 billion, down 7% from 2008.

The service's total mail volume plunged by more than 25 billion pieces, or 12.7%, to 177.1 billion pieces.

Due to a continuing decline in mail volume, the agency has been considering a slew of cost-cutting measures, including temporarily reducing mail delivery to five days a week, effectively ending Saturday delivery.
Click to expand...
Click to expand...
How much profit was the US Mail making in its heyday?
Click to expand...
They almost broke even once quarter in the late 1700s.
 
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