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U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion

 
Carshy McCarsh
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11/15/2012 10:22 AM
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U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
[link to www.bloomberg.com]

Holy shit. They can't even make a monopoly profitable, and the idiots of America gave them control of healthcare?

The U.S. Postal Service said its net loss last year widened to $15.9 billion, more than the $15 billion it had projected, as mail volume continued to drop, falling 5 percent.

Without action by Congress, the service will run out of cash on Oct. 15, 2013, after it makes a required workers compensation payment to the U.S. Labor Department and before revenue typically jumps with holiday season mailing, Chief Financial Officer Joe Corbett said.

The service, whose fiscal year ended Sept. 30, lost $5.1 billion a year earlier. It announced the net loss today at a meeting at its Washington headquarters.
Tell me what this tastes like...
Anonymous Coward
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11/15/2012 10:26 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
Cliff Claven won't be able to afford beer anymore if he loses his job....
Anonymous Coward
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11/15/2012 10:27 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
Once again, the union is the problem. A friend of mine is retired from USPS. He gets full healthcare and dental benefits along with his large retirement check. They've got to get rid of that union....
Anonymous Coward
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11/15/2012 10:28 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
[link to www.bloomberg.com]

Holy shit. They can't even make a monopoly profitable, and the idiots of America gave them control of healthcare?

The U.S. Postal Service said its net loss last year widened to $15.9 billion, more than the $15 billion it had projected, as mail volume continued to drop, falling 5 percent.

Without action by Congress, the service will run out of cash on Oct. 15, 2013, after it makes a required workers compensation payment to the U.S. Labor Department and before revenue typically jumps with holiday season mailing, Chief Financial Officer Joe Corbett said.

The service, whose fiscal year ended Sept. 30, lost $5.1 billion a year earlier. It announced the net loss today at a meeting at its Washington headquarters.
 Quoting: Carshy McCarsh


They keep raising the price of postage and stamps till its not even worth delivering anymore. I see more and more goods where the shipping is more than the goods themselves

It costs over ten bucks now to mail a piece of clothing.

Why do they keep saturday deliveries>????????

Why dont they deliver at least 4 days a week instead of 6

Its too mammoth a operation with a growing population. If people have packages, they want the mail, However its not worth it driving up a winding dirt road everyday to deliver a sales flier...
Anonymous Coward
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11/15/2012 10:42 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
ohhhhh, we are so screwed.
Laura Bow

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11/15/2012 10:43 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
[link to www.bloomberg.com]

Holy shit. They can't even make a monopoly profitable, and the idiots of America gave them control of healthcare?

The U.S. Postal Service said its net loss last year widened to $15.9 billion, more than the $15 billion it had projected, as mail volume continued to drop, falling 5 percent.

Without action by Congress, the service will run out of cash on Oct. 15, 2013, after it makes a required workers compensation payment to the U.S. Labor Department and before revenue typically jumps with holiday season mailing, Chief Financial Officer Joe Corbett said.

The service, whose fiscal year ended Sept. 30, lost $5.1 billion a year earlier. It announced the net loss today at a meeting at its Washington headquarters.
 Quoting: Carshy McCarsh


WOW! Just wow.
Sleeping Giant
Army of the Chosen One

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11/15/2012 10:47 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
God help us if we need good medical treatment...
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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11/15/2012 10:49 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
No worries, keep printing Islamic topic new stamps and our commander in chief will take care their financial needs
XSlyOneX

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11/15/2012 10:49 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
Lol UPS and/or FEDEX would love to jump on the opportunity to take over the mailing system... All you doomtards calm down. Besides all mail does is bring me bills anyway... If i want something delivered I go elsewhere
Ron Paul or Bust
Sleeping Giant
Army of the Chosen One

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11/15/2012 10:50 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
Lol UPS and/or FEDEX would love to jump on the opportunity to take over the mailing system... All you doomtards calm down. Besides all mail does is bring me bills anyway... If i want something delivered I go elsewhere
 Quoting: XSlyOneX


They already have with smartpost and surepost.
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
The Phoenix

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Malaysia
11/15/2012 11:00 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
It always amazes me how you can run up such a huge loss (and you could even predict it) but not doing anything about it.

As long as teleport is not invented, there's always money in logistics.

Somebody better check the accounts.
Judethz
Israel is Eternal

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11/15/2012 11:19 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
[link to www.bloomberg.com]

Holy shit. They can't even make a monopoly profitable, and the idiots of America gave them control of healthcare?
 Quoting: Carshy McCarsh


9teen It was deliberately set up to fail by our so called leaders, most likely Fed Ex and UPS are behind it. How can any organisation fully fund every workers pension for 80 year out.
XSlyOneX

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United States
11/15/2012 11:26 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
It always amazes me how you can run up such a huge loss (and you could even predict it) but not doing anything about it.

As long as teleport is not invented, there's always money in logistics.

Somebody better check the accounts.
 Quoting: The Phoenix


As soon as email got popular they should of known the eventual future. It's their fault they didn't plan accordingly.

This is one of the biggest CONS of being conservative in a rapidly evolving technological world... If your unwilling to change your stance then you deserve to be run out... That's exactly what is happening to Post Service and exactly what is wrong with the government...

Honestly Conservative needs to be put next to stupidity in the dictionary.
Ron Paul or Bust
Anonymous Coward
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11/15/2012 11:30 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
It always amazes me how you can run up such a huge loss (and you could even predict it) but not doing anything about it.

As long as teleport is not invented, there's always money in logistics.

Somebody better check the accounts.
 Quoting: The Phoenix


As soon as email got popular they should of known the eventual future. It's their fault they didn't plan accordingly.

This is one of the biggest CONS of being conservative in a rapidly evolving technological world... If your unwilling to change your stance then you deserve to be run out... That's exactly what is happening to Post Service and exactly what is wrong with the government...

Honestly Conservative needs to be put next to stupidity in the dictionary.
 Quoting: XSlyOneX


Letters is a minority of all mail. Most of it is used for bills, advertising etc, and mail order.

I like my coupons, esp for Mcdonalds and Arbys that they send in the mail. I use them during my lunchbreak

I order ALOT of books etc from Amazon and Ebay...I get packages weekly..

Only a minority of our packages are UPS

We do pay our bills online, but it still helps to get a physical reminder in the mail..and something we can file away in case something happens to the net.
XSlyOneX

User ID: 1446631
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11/15/2012 11:45 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
It always amazes me how you can run up such a huge loss (and you could even predict it) but not doing anything about it.

As long as teleport is not invented, there's always money in logistics.

Somebody better check the accounts.
 Quoting: The Phoenix


As soon as email got popular they should of known the eventual future. It's their fault they didn't plan accordingly.

This is one of the biggest CONS of being conservative in a rapidly evolving technological world... If your unwilling to change your stance then you deserve to be run out... That's exactly what is happening to Post Service and exactly what is wrong with the government...

Honestly Conservative needs to be put next to stupidity in the dictionary.
 Quoting: XSlyOneX


Letters is a minority of all mail. Most of it is used for bills, advertising etc, and mail order.

I like my coupons, esp for Mcdonalds and Arbys that they send in the mail. I use them during my lunchbreak

I order ALOT of books etc from Amazon and Ebay...I get packages weekly..

Only a minority of our packages are UPS

We do pay our bills online, but it still helps to get a physical reminder in the mail..and something we can file away in case something happens to the net.
 Quoting: APOLLO ILLUMINIST


I suppose in hind-site the digital world is susceptible to being broken on a mass scale but I work in technology and it's getting easier and easier to back things up. I think paper should always be used for major contracts because a signature is still total rule in this world. Just got to find a balance and the USPS did not do that.
Ron Paul or Bust
Anonymous Coward
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11/15/2012 12:01 PM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
If it's not already bad enough, next year anybody who gets a federal check will have to switch to direct deposit or get one of their debit cards, they are fucking their own, now you won't get a check, sound like a better way to track and control?
Zedakah

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11/15/2012 12:13 PM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
At $385,000 salary, the postmaster general is the highest paid federal government employee. Anyone else find this odd? Over generals, scientists, heck even this p"resident." I think I just found a spending cut that would save everybody stamp money.
If you can justify killing one man, you can justify killing every man.

The Greatest Lie is the one never told, but assumed.

History isn't a measure of our successes, but the compilation of our mistakes.
Anonymous Coward
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11/15/2012 01:03 PM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
The biggest problem is all worthless, lazy Affirmative Action employees the P.O. has. Like all the other REALLY FUCKED UP government agencies, it has WAY too many blacks that don't work and are impossible to fire.

I hope the Congress defaults on the retirement payments on those worthless bastards! Let them find a real job!
Judethz
Israel is Eternal

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11/15/2012 01:04 PM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
The biggest problem is all worthless, lazy Affirmative Action employees the P.O. has. Like all the other REALLY FUCKED UP government agencies, it has WAY too many blacks that don't work and are impossible to fire.

 Quoting: Anonymous Coward 27803841


thatsracist
Carshy McCarsh (OP)

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Germany
12/03/2012 12:55 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
FYI, it's because of the ridiculous USPS pensions bump
Tell me what this tastes like...
Truthache
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12/03/2012 01:25 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
You can see the bailout three-thousand miles away.
in warm pursuit...
Carshy McCarsh (OP)

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Germany
12/03/2012 02:03 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
You can see the bailout three-thousand miles away.
 Quoting: Truthache


cruise

Yes, you can.
Probably "paid for" by an extra tax on UPS and FexEx.

suicide
Tell me what this tastes like...
Anonymous Coward
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12/03/2012 02:14 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
[link to www.bloomberg.com]

Holy shit. They can't even make a monopoly profitable, and the idiots of America gave them control of healthcare?

The U.S. Postal Service said its net loss last year widened to $15.9 billion, more than the $15 billion it had projected, as mail volume continued to drop, falling 5 percent.

Without action by Congress, the service will run out of cash on Oct. 15, 2013, after it makes a required workers compensation payment to the U.S. Labor Department and before revenue typically jumps with holiday season mailing, Chief Financial Officer Joe Corbett said.

The service, whose fiscal year ended Sept. 30, lost $5.1 billion a year earlier. It announced the net loss today at a meeting at its Washington headquarters.
 Quoting: Carshy McCarsh

When the Postal service makes a profit they don't get to keep it. Washington takes it and and puts it into the general fund. when it loses money then they don't get their profits back. The whole ideal is to keep them in the red so Washington can keep sucking off their profits and claim they lost money.

.
Anonymous Coward
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12/03/2012 02:17 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
the problem is the union. they've got to get rid of it.......
Anonymous Coward
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12/03/2012 02:55 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
I just bought something off of ebay. It was shipped from New York to Washington state and then to me in Wisconsin by air. How does it make sense to send it across the country first?
Anonymous Coward
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12/03/2012 02:58 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
It's not just the union, the prefunding of benefits for employees that aren't even born yet, the profit neutral stance of general funding, the benefits package or the large number of workers who don't contribute to transporting,, sorting, or delivering mail. It's all of those things combined.
Carshy McCarsh (OP)

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12/03/2012 10:40 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
It's not just the union, the prefunding of benefits for employees that aren't even born yet, the profit neutral stance of general funding, the benefits package or the large number of workers who don't contribute to transporting,, sorting, or delivering mail. It's all of those things combined.
 Quoting: Anonymous Coward 28760025


Yes, those are the details.
The general problem is government unions, period.
Tell me what this tastes like...
Anonymous Coward
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12/03/2012 11:12 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion


:9teen: It was deliberately set up to fail by our so called leaders, most likely Fed Ex and UPS are behind it. How can any organisation fully fund every workers pension for 80 year out.


You just won the thread, congrats.

USPS can't work while paying no fuel tax and having free land for their operations? Thats got to be FedEx and UPS's two biggest expenses.
MuayThai

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Philippines
12/04/2012 02:24 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
I worked in the place for a long time and I can honestly say that the only thing people care about is how much overtime they will be getting or why they aren't getting any.

As far as the job itself goes, it's amazing that you get your mail in your box most days. Cavalier attitude among the workers prevails.

"that's not my job" -- heard employees cussing out their supervisor many times using this phrase when asked to do something other than stand around bullshitting.

The whole works should be auctioned off to the highest bidder to pay down the national debt.
Carshy McCarsh (OP)

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12/04/2012 09:47 AM
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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
I worked in the place for a long time and I can honestly say that the only thing people care about is how much overtime they will be getting or why they aren't getting any.

As far as the job itself goes, it's amazing that you get your mail in your box most days. Cavalier attitude among the workers prevails.

"that's not my job" -- heard employees cussing out their supervisor many times using this phrase when asked to do something other than stand around bullshitting.

The whole works should be auctioned off to the highest bidder to pay down the national debt.
 Quoting: MuayThai


clappa
Tell me what this tastes like...
Rabid Wolf
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12/04/2012 09:50 AM

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Re: U.S. Postal Service on a ‘Tightrope’ Lost $15.9 Billion
So.... Does this mean I can expect a reduction in the junk mail I get every week? (so far, I haven't seen any reduction)

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