U.S. Postal Service Faces $7 Billion Net Loss in 2009

[Chris_]

With Fewer Customers and Fixed Labor Costs, U.S. Postal Service Faces $7 Billion Net Loss in 2009

CNSNews.com) - The U.S Postal Service faces a net loss of $7 billion in fiscal year 2009 even if it succeeds in cutting its costs by $6 billion, according to testimony provided to a Senate subcommittee last week by the Government Accountability Office.
 
The Postal Service is expected to end the year with $10.2 billion in outstanding debt.
 
Meanwhile, USPS faces continuing high overhead in the form of employee wages and benefits fixed by collective bargaining agreements, as well as declining use of the service by its customers.
 
“It is safer to say that they are bordering on insolvency,” Kate Siggerud, Managing Director of Fiscal Infrastructure at the GAO told CNSNews.com.

...and idiots believe that the gubmint can run a healthcare plan better than the private sector.   

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[The Village Idiot]

How stupid you gotta be to believe that?

[Chris_]

How stupid you gotta be to believe that?

DUmb enough to vote for Uncle Zer0 and boast about it at the DUmp.

[Thor]

I prefer to use the USPS moreso than UPS or Fed-Ex. Mainly because they are more convenient. I'm surprised that the USPS is failing so badly. They don't have a fleet of aircraft to transport their parcels/ letters. I guess that they have failed to adapt to a competitive environment because they have been stuck in their old ways. I will say that every Post Office has a severe lack of customer service and that might be the basis of their financial issues.

[thundley4]

I prefer to use the USPS moreso than UPS or Fed-Ex. Mainly because they are more convenient. I'm surprised that the USPS is failing so badly. They don't have a fleet of aircraft to transport their parcels/ letters. I guess that they have failed to adapt to a competitive environment because they have been stuck in their old ways. I will say that every Post Office has a severe lack of customer service and that might be the basis of their financial issues.

I use the USPS for packages going out of state for convenience, also.  I think the USPS contracts with FedEx for air freight, (I think I read that), but I could be wrong.

[Chris_]

...I'm surprised that the USPS is failing so badly. They don't have a fleet of aircraft to transport their parcels/ letters...

You were saying?  

Although, for the sake of complete honesty, I do have to add:

They used to have a Boeing 727, but now they have mail carried on commercial flights, in the cargo hold under the cabin.
LINK

 

[zeitgeist]

You were saying?  

Although, for the sake of complete honesty, I do have to add:
 

Ah the good old days.  When I left for college my girlfriend gave me a bundle of pre-addressed airmail envelopes in a red ribbon. (She knew me well )  Anybody seen an airmail envelope lately??

[The Village Idiot]

Ah the good old days.  When I left for college my girlfriend gave me a bundle of pre-addressed airmail envelopes in a red ribbon. (She knew me well )  Anybody seen an airmail envelope lately??

I remember reading about the colonial period when people who traveled were deluged with letters to carry to their destination and given pennies or whatever to deliver it for them.

[Chris_]

I remember reading about the colonial period when people who traveled were deluged with letters to carry to their destination and given pennies or whatever to deliver it for them.

Some of us didn't have to read about it.  Ain't that right Undies? 



 

[Thor]

When I worked for Delta Airlines back in 1995, the mail was contracted through all of the air carriers. Never ONCE saw a USPS aircraft at MSP. We handled our share of the mail at Delta. Northwest was the absolute worst. They always left mail laying on the ramp.