USPS preliminary net loss for June 2011 –$900 million
The US Postal Service announced certain preliminary financial results for the nine months of Fiscal Year 2011 on FORM 8-K filed with the Postal Regulatory Commission (PRC). USPS reported a net operating loss of $5.6 billion ending on June 30, 2011. After eight months into FY 2011 USPS reported a net loss of $4.7 billion ending in May 2011.In October 2010 USPS saw a net profit of $283 Million, November 2010 net loss $456 million, December 2010 net loss $156 million, January 2011, net loss $451 million, February 2011, net loss $1.1 billion, March 2011, $657 million, April 2011 net loss of $747 million.
Chart showing certain preliminary financial results for the nine months ending on June 30,2011.
USPS Preliminary Financial Results ending 6-30-2011
Who is paying to loose money? Financial crisis in this country and politicans and management unions and craft unions want to keep Post Offices open and
d elivering mail 6 days a week. Who is going to pay to keep on loosing money.? Deliver mail 3 days aweek and people that get monthly bills in the mail will get them. Country cannot afford to raise the postal debt ceiling to keep delivering mail 6 days aweek. 90% mail is junk mail thrown away and is never read. Do not clutter mailboxes with useless waste junk mail. Better yet give an early out and myself and many others will leave.
IT MIGHT BE TIME TO CLOSE THE HOOTERVILLE P.O. I THINK ARNOLD ZIFFEL MAY BE LOOKING FOR ONE OF THOSE VILLAGE POST OFFICES SOON!!
Look,Blockbuster is going out of buisiness due to Netflix and movie downloads,Tower records went out because of music downloads and Borders went out because of eBooks.Never mind newspapers that are losing out to electronic media and broadcast tv lost out to cable.We need to face the facts,the concept of what was once a viable model for getting information or paying bills to every household has changed irrevocably.We need to streamline the entire process,give incentives to civil servants and eligible FERS employees to retire and save the jobs of those not eligible,the savings in salaries and benefits will recoup the payouts,streamline the plant operations to where the mail we process is cost effective,2 tours maybe,consolidate plants,close non essential branch offices,rework our transportation networks afterward to save fuel costs,streamline management to reduce redundancies in responsablities,and move to a 5 day delivery.We lost our parcel delivery a long time ago when we decided that first class mail would pay the bills,those of us who were around remember the OPSM working 3 tours and we gave it away and built UPS and FedEx into the giants they are.Hard reality,I hate to say it but we need to do some hard things to save the service and keep as many people as we can who have time invested in it employed,otherwise no one will be working and the USPS will cease to exist.I am a 35 year employee and I can see the writing on the wall.It is a sad time for career postal employees,craft and management alike.When the ship sinks there will not be enough life rafts and we will all be fighting one another for a spot in one,work together now and keep it from sinking,there will be casualties but we can make it easier for them and save the USPS.Stop finger pointing and get it togethjer,soon it will be too late!
WELL IT LOOKS LIKE THIS PLAN OF ATTACK TO GET US OUT OF DEBT ISN’T WORKING. MAYBE IT IS TIME TO RAISE THE RATES ON STANDARD MAIL OR AT LEAST STOP GIVING DISCOUNTS TO PRESORT THE MAIL TO WALK SEQUENCE. WE ONLY NEED IT BROKEN DOWN TO 5 DIGIT. THE REASON IS , WE MIX IT ALL BACK WITH THE OTHER MAIL AGAIN AND THEN PUT IT ALL BACK TO WALK SEQUENCE! WHY GIVE A DISCOUNT? LET’S GET IN THE PARCEL BUSINESS!! WAKE UP POSTMASTER GENERAL!! THE CASH COW OF OVERCHARGING FOR FIRST CLASS TO COVER THE COST OF WORKING STANDARD IS OVER!!! NOW WE ARE STUCK WITH THE COST OF WORKING STANDARD FOR A DISCOUNTED RATE! MAYBE MORE PARCELS CAN HELP WITH THAT!!!
USPS financial condition will continue to deteroriate as revenue will continue to decline as demand for postal products and services will never regain demand to create revenue to cover cost. Congress must take necessary action to do what has to be done: reducing headquarters staph, eliminating area staffing that is a duplication of district task, reduce district staff. Close offices that are non essential in this age due to changing demographics. Concentrate delivery and box sections at offices that remain after closing small costly offices that had their place in history: office delivery area and box sections maybe maintained.
Reduce PM positions regardless of pressure management unions exert on politicans. Maximize automation; seclect officies with 2 pass DUBCS to DPS letter mail for OTHER OFFICIES. Reduce delivery days as move is to go PAPERLESS.
INTERNET connects individuals an businesss for whatever communication needs.
Idle 293,000 vehicles and delivery employees 1-2 days a week and recoupe some of the cost for delivering advertising mail reffered to as JUNK mail. EARLY OUT for craft employees and replace with less pay and benefits. Reduce overtime by assigining employees from closed office to a 25 mile work area radius; replace 204B acting supvs. with PMs and supvs. from closed offices as returing to craft would decrease overtime.CONGRESS MUST INTRODUCE CONSTITUTIONAL AMENDMENTS TO CLOSE OFFICES OR WHATEVER IS NECESSARY TO REDUCE COST. Delivering mail by horse and wagon is history; PMG Ben Franklin
and any needed Constitutional rights per USPS has no signifigance in todays means of keeping people connected.
Here in Northeast region, we have managers cover for another and so on . usps has no money? managers assigned or detailed to cover up their jobs and mailhandlers jobs are reverted not detailed.
It’s not the overpaid workers fault! 45K+ plus just to put a couple of advertisements in a mailbox along a designated route that they use to walk but no drive? I could train a bunch of chimps to do that! Workers answer: USPS just isn’t charging enough for mail!
Take it out of Congress franking priveleges !
Get rid of the pencil pushers coming up with these inflated numbers.
Another internal audit ,Fed LAW states that U.S.P.S is to have an outside audit once every three years , when is that going to happen NEVER Would the IRS let you make up your own numbers PEOPLE IN THIS COUNTRY BETTER WAKE UP SOON