USPS CFO Jim Corbett’s Quarterly Financial Review
Despite reduced work hours and increases in shipping and standard mail revenue, the economy, rising fuel prices and falling First-Class Mail volume continued to adversely affect revenue in the third quarter of the fiscal year.
In the latest segment of “Dollars and ¢hange,” Chief Financial Officer and Executive Vice President Joe Corbett said declines in mail — 1.6 billion pieces through June — led to operating losses of $1 billion for the quarter and a $5.7 billion year-to-date net loss.
Corbett said employees continue to do their share in helping USPS through tough economic times. Year-to-date work hours have been reduced by 25 million, a 2.8 percent decrease that exceeded the 1.7 percent loss in mail volume. And operating expenses have increased by a relatively modest $300 million.
As in his previous video messages, Corbett urges employees to do everything they can to help USPS meet PMG Pat Donahoe’s four core strategies:
- Strengthen the business-to-consumer channel
- Improve the customer experience
- Compete for the package business
- Become a leaner, faster and smarter organization
Corbett urges employees to become more active in selling USPS services and products. He cites Every Door Direct Mail (EDDM) as an example of how employees can convince neighborhood businesses to take advantage of the power of the mail. “You can help,” he says. “It’s important for each of us to be a salesperson for the Postal Service.”
Click here to view the latest segment of “Dollars and ¢hange.”
source: USPS News Link
If they weren’t so busy spending money every six months on re-adjusting routes(and not doing that very well) there might be some stability in the delivery sector. But when clerks neeed to learn new delivery schemes,carriers learning new parts of the routes, mail still being sent to the old routes(because publishers aren’t notified of changes in a timely fashion) you have a recipe for a S!#t sandwich on stale bread. Do you think the public is tired of the same old taste? When your the only game in town you shoudn’t keep screwing with the recipe, just make sure NOBODY can do it better than you. We recently got our new delivery schemes from the local waste hauling contractor!!!! And yes, it was garbage in / garbage out. What a mess!!! Can you hear me Washington????
You need to get RID of people who NEVER even touch a piece of mail in their workday. What other Company or Organization can have 1 Manager/Staff for every 3.8 Workers who actually work the product (mail in this example). We have people who sit ALL day getting FAT watching the computer screen so they can call 2 minutes after a Carier gets back from their route to tell another Manager that 1 scan out 100s was missed. Hell I wish got that kind of service any where I went. MUST BE NICE not to have ANYTHING else to do in your day, like maybe scan an F*ing a package yourself.
I got your challenging year hangin’, Donuthole.