The USPS had a net loss of $1.108 billion for February 2012 according to preliminary (unaudited) data submitted to the Postal Regulatory Commission (PRC). USPS is attributing $1.017 billion of that amount to the Postal Service’s Retiree Health Benefit pre-funding expense. USPS is also reporting a year-to-date fiscal year loss of $5.669 billion. The same period last year (SPLY) USPS reported a net operating loss of $1.887 billion. (USPS reported a loss $1.262 billion in January 2012; $1.422 billion for the month of December 2011, Nov. $1.267 billion and Oct. $139 million).
see full USPS financials for Feb. 2012
UP YOURS! I’M GETTING MINE!!
It is for sure, if a company is loosing money at such a rate the CEO would definitely be fired. That is what should definitely happen to the PMG Patrick Donahoue. He was definitely the SCROOGE for many hard working postal employees. When he announced the consolidations and closings of many Post Offices and Processing & Distribution Centers throughout our great nation. This will just make more customers like myself to switch to emails and electronic bill payments. ARE YOU LISTENING PMG. Your stupid plan will not help save you money, it will cost you more money and more decline in mail volume. Especially, since it will delay mail delivery to more than 4 to 5 days. Talking about SNAIL MAIL. HAH.
Here’s a thought. You, PMG Continue and your cronies accepted a job with a set salary to do a job. WHY IN THE HELL SHOULD YOU AND YOUR CRONIES EXECUTIVES GET A BONUS FOR THE JOB YOU WERE HIRED TO DO? AND ESPECIALLY WHEN YOU CLAIM THAT THE USPS IS LOOSING MONEY AND YOU WANT TO CLOSING POST OFFICES AND CONSOLIDATE PROCESSING CENTERS? YOU DON’T DESERVE EVEN A PENNY BONUS, YOU DESERVE TO BE FIRE!!!
PMG Salary + Bonus is over $500,000. That’s more than the Vice President of the United States.
And another thing, you say no one will be layoff. But what you don’t admit is that you will excess employees up to 50 miles away for starters, and I’ve heard people being excesses OVER 100 – 200 miles away, when forces the employee to resign there position. Yes, you didn’t layoff anyone, you just broke the contract with a TAKE IT OR LEAVE IT ATTITUDE. People just can’t pick up and move that easily. Maybe you can (making over $500,000 salary + bonuses), but not the low salary and no bonus employees. PMG DONAHOUE YOU SHOULD BE A SHAME OF YOURSELF. HOW CAN YOU LIVE WITH YOURSELF? DO YOU HAVE A CONSCIENCE?
Bin; excellent point. PMG has no authority to deal with retirees earned benefits.
He is grasping at every means possible to preserve high salaries of headquarters positions regardless of financial results that affect all employees. He is paid to operate on a budget to breakeven which he evidently lacks knowledge as well skill to operate cost effective operations. PMG job should be a cabinet position and not a so called CEO for a government operated service which is to perform a dedicated service on a pre determined budget based on revenue generation.
Postmaster salaries for small communities officies must be reduced and positions eliminated.
PMG has no authority to propose any actions that affect USPS retirees insurance.
This is not in his rane of authority and has nothing to do what he is paid to do and that is devise and institute means to operate delivery, retail, workhours, existing post office need and to close if no longer provides a service need, salary restructing for management levels and deal with management and craft labor issues.
usps management don’t know how to run business, all they know is stressing, harassing workers, all they care about is bonus.
the harder we work, the more money we lose, this is the plan?
Fuck it.
really we have lost 5 billion so far not including the 5.5 billion we did not pay for prefunding? Yet we are stuck at borrowing 12.9 billion from treasury. How do we manage not borrowing any more money yet we loose 1 billion a month on average for 5 straight months in the new fiscal year and we do not exceed the same balance we have had for the same amount of time in borrowing.
On top of that incredible feat, if you were to add in the 5.5 billion from last year to the 5.6 billion this year it equal 11.1 billion. We still have 7 months to add to that total and the usps says we will only loose about 14 billion this year. 7 months at current average of 1 billion a month lose. according to the usps this will only total 14 billion. Remarkable. I thought 11.1 billion plus 7 billion would add up to 18 billion and that does not include the next 5 billion in prefund for 2012. But don’t worry we will still have enough money to pay wages. Oh yeah work harder with a better attitude! would yah?
Time for a FISH-FRY, mofos!
po continues to lose money,management continues to thrive and the crafts think they are going to get incentives, be real people, we ain,t getting anything but booted out the door. if you don’t like it, oh well.
There is only one fix for this sky is falling scam implemented by management. A nationwide lock-out of every inbred weasel manager that slithers to work every day to pretend that they actually do or micro-manage anything. The 6 most senior WORKERS would rotate daily operations at plants and stations Monday to Saturday. Every postal worker needs to put the spotlight on our real enemy which is postal management. Here is a simple math problem. “If you lined up the 6 foot desks of the 110,000 management slots in a line. How long would it be?” Answer: 125 miles. I say send those desk jockeys to line the California/ Mexico border and deduct their worthless salaries from the PO and drop a dime off of a stamp. One, it won’t affect the mail stream at all and 2 management is only good at taking workers jobs away. So line them all up on our southern borders to keep the illegals from taking away American jobs. 2 birds 1 stone.
I invite any legislator to walk with a carrier and we will prove to you that management is reporting fraudulent figures to preserve their job slots. Walk (sit) with a manager and you will be shocked to see that all they do is make-work to make it appear they manage anything. FIRE THEM!
USPS management is definitely creating a deliberate cash crisis. They are painting facilities in Illinois that have not had the interior done in 20 years. They have managers that have nothing to do nit pick about managers they are observing giving carriers 2 extra minutes for casing throw backs. The FSS was amd is a giant money loser, heads should roll over that one. How about casual and te managers that get paid half the current rate. The USPS should have evaluated routes for city and rural.
Just do the math! This is proof that postal management is HELL bent on bankrupting the service. If this were the private sector that they are trying to emulate then the stock holders would have canned the CEO long before he wasted any more dividends. I am a 27 year postal worker. Are you listening? Every postal worker from coast to coast can see it. Why can’t the media? Management is wasting more money in their effort to save money. Here is our example. 44 foot routes here in Seattle are being converted to park and loop routes in the downtown area. This means 44 new $27000 ford vans we are ordered to illegally park and bring back the $38 tickets for the postage rate payers to cover. Before the conversion our routes were inside mail rooms provided by the HI rise buildings at no cost to the service. 100 percent of the downtown customers were against this insane plan including the mayor, the chief of police and even senator Patty Murray. This is happening nationwide so tell us again how much more money will it cost to save money. FIRE ALL MANAGEMENT BEFORE IT’S TOO LATE! DECLARE MARSHAL LAW ON THE POSTAL SERVICE IF YOU HAVE TO. MANAGEMENT IS DELIBERATLY DESTROYING THE SERVICE BEFORE CONGRESS CAN ACT OR THE ELECTION IN NOVEMBER TAKES THE CONTROL AWAY FROM THE TEABAGGERS.