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Fri Feb 8, 2013, 12:46 PM

Postal Service lost $14M a day in 1st quarter

Source: Atlanta Journal-Constitution

Maybe Saturday isn’t the only delivery day that needs to be considered by the U.S. Postal Service?

Days after the federal agency announced it was discontinuing Saturday deliveries to cut costs, its chief financial officer told the Postal Service Board of Governors that USPS lost $1.3 billion – about $14 million a day – in its first quarter. The good news is that the loss October to December was much smaller than the $3.3 billion in red ink during the same period a year ago.

The most recent first quarter was helped by extra mailings due to the November elections and Christmas holiday season, Reuters reported. Competition from UPS, FedEx and other shippers, and consumers’ increasing reliance on email and other online options, have greatly loosened the grip the USPS once had on mail deliveries.

Cutting back to five days a week will save the agency $2 billion a year, the USPS estimates. The halt to first-class mail deliveries on Saturday begins the first week of August. USPS lost almost $16 billion in its last fiscal year.

Read more: http://blogs.ajc.com/business-beat/2013/02/08/postal-service-14m-lost-daily-in-1st-quarter/

54 replies, 4585 views

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Arrow 54 replies Author Time Post
Reply Postal Service lost $14M a day in 1st quarter (Original post)
Redfairen Feb 2013 OP
montanacowboy Feb 2013 #1
Exultant Democracy Feb 2013 #9
grahamhgreen Feb 2013 #25
Historic NY Feb 2013 #31
Katashi_itto Feb 2013 #45
tularetom Feb 2013 #2
former9thward Feb 2013 #6
sketchy Feb 2013 #8
magellan Feb 2013 #15
roxy1234 Feb 2013 #19
magellan Feb 2013 #20
roxy1234 Feb 2013 #22
magellan Feb 2013 #20
DCBob Feb 2013 #26
sketchy Feb 2013 #24
gcomeau Feb 2013 #3
Travis_0004 Feb 2013 #36
Blue_Tires Feb 2013 #4
Ash_F Feb 2013 #44
elleng Feb 2013 #5
SoapBox Feb 2013 #12
elleng Feb 2013 #14
aquart Feb 2013 #28
elleng Feb 2013 #29
Historic NY Feb 2013 #32
alarimer Feb 2013 #41
thelordofhell Feb 2013 #7
freshwest Feb 2013 #10
devilgrrl Feb 2013 #11
neffernin Feb 2013 #13
They_Live Feb 2013 #35
neffernin Feb 2013 #37
groundloop Feb 2013 #16
AgingAmerican Feb 2013 #17
elleng Feb 2013 #18
librechik Feb 2013 #23
upaloopa Feb 2013 #27
Gentle-man Feb 2013 #30
They_Live Feb 2013 #33
olddad56 Feb 2013 #34
PSPS Feb 2013 #38
oberliner Feb 2013 #39
Occulus Feb 2013 #42
oberliner Feb 2013 #46
Occulus Feb 2013 #48
oberliner Feb 2013 #49
Occulus Feb 2013 #50
oberliner Feb 2013 #51
sketchy Feb 2013 #53
sketchy Feb 2013 #40
Occulus Feb 2013 #43
sketchy Feb 2013 #47
handmade34 Feb 2013 #52
sketchy Feb 2013 #54

Response to Redfairen (Original post)

Fri Feb 8, 2013, 12:50 PM

1. What a Crock of Shit

We all know why the post office is going tits up and it's not because of fucking email on online options

It's because of the bastards in Congress who make them fund 75 years worth of health care in a 10 year window

Atlanta Journal Constitution - shame on you

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Response to montanacowboy (Reply #1)

Fri Feb 8, 2013, 01:14 PM

9. +100

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Response to montanacowboy (Reply #1)

Fri Feb 8, 2013, 03:28 PM

25. Thanks!

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Response to montanacowboy (Reply #1)

Fri Feb 8, 2013, 05:09 PM

31. Exactly my cousin is the senior carrier in this part of the county...

his sons, grandsons, sons, would be able to retired if he decided to carry the mail. They cut their loss this last quarter by teaming up with major on-line purchasing sites to deliver the packages for Christmas with guaranteed delivery.

I wish people knew the PO also carries packages for Fed Ex and UPS, the PO goes where the other won't.

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Response to montanacowboy (Reply #1)

Sat Feb 9, 2013, 03:04 AM

45. With the 75 year funding. The post offices starts each fical year 8.5 billion in the hole.

So the OP is full of shit.

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Response to Redfairen (Original post)

Fri Feb 8, 2013, 12:51 PM

2. That's actually remarkable since the congressional mandated pre funding of health care

cost the USPS approximately $13.7 million per day. So what you're saying is that absent this punitive vengeful action by a republican congress, the Postal Service would have essentially broke even in the first quarter.

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Response to tularetom (Reply #2)

Fri Feb 8, 2013, 01:04 PM

6. Why did Democrats support the bill?

It passed the Senate unanimously. It passed the House with large bi-partisan support. Henry Waxman, a progressive, was sponsor of the bill in the House. It was supported by the Postal Union.

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Response to former9thward (Reply #6)

Fri Feb 8, 2013, 01:10 PM

8. Apparently what they supported prevented a COMPLETE PRIVATIZATION of USPS

in the House version of the 2006 bill. The onerous healtcare prefunding was tacked on in the Senate by Sen. Susan Collins.

Where is DUer Brentspeak to explain this?


I'm just paraphrasing what I remember he said. I can't find the posts right now.
That's the gist of it, and I hope more knowledgeable people will correct me/expand on this!

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Response to sketchy (Reply #8)

Fri Feb 8, 2013, 01:44 PM

15. They didn't have to support it unanimously in the Senate

They chose to. They were the minority yet not one dissent.

No effin' excuse.

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Response to magellan (Reply #15)

Fri Feb 8, 2013, 02:02 PM

19. Do you by any chance have a vote

 

call from the house and senate? I would like to see who exactly voted for it and who voted against it. Either way, we can now see the catastrophic result of the bill and people need to start repealing it. Mind you, I didn't say fixing it, it needs to be scratched.

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Response to roxy1234 (Reply #19)

Fri Feb 8, 2013, 02:18 PM

20. This thread discusses the votes, with links

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Response to magellan (Reply #20)

Fri Feb 8, 2013, 02:54 PM

22. Thanks for the link

 

Isnt it amazing that 20 house reps voted no to the bill while 0 house dems voted no for it. Saying dems should step up to the plate for this is one big understatement.

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Response to roxy1234 (Reply #19)


Response to magellan (Reply #15)

Fri Feb 8, 2013, 03:33 PM

26. Yeah, I dont get that either..

If it was such an obvious tactic by the Repukes to kill the USPS why would Democrats support it without a fight?

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Response to former9thward (Reply #6)

Fri Feb 8, 2013, 03:26 PM

24. Oh, here is the link I was looking for

the thread is: Postal service default appears likely
There is an extensive and edifying debate between brentspeak and former9thward. Enjoy.

http://www.democraticunderground.com/1014165360

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Response to Redfairen (Original post)

Fri Feb 8, 2013, 12:53 PM

3. ENTIRELY...

...because of advance funding SEVENTY FIVE YEARS of pension costs they should never have to fund.

Never lose sight of that fact. The Post Office fiscal issue is a deliberately manufactured one imposed by the GOP to MAKE the USPS fail, so they can then hold it up as an example of a failed government enterprise.

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Response to gcomeau (Reply #3)

Fri Feb 8, 2013, 06:12 PM

36. The democrats are equally at fault, so blame both parties.

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