The US Postal Service filed its seventh month preliminary financial report of the 2011 fiscal year (unaudited) with the Postal Regulatory Commission (PRC) . USPS reported a net operating loss of $747 million for the month of April 2011. This same period last year saw a $382 million net loss. In October 2010 USPS saw […]
Default on federal payments looming U.S. Postal Service Loss Widens in Second Quarter WASHINGTON — The U.S. Postal Service ended the second quarter of this fiscal year (Jan. 1 – March 31, 2011) with a net loss of $2.2 billion, compared to a net loss of $1.6 billion for the same period in FY 2010. […]
Rep. Dennis Ross, (R-Fla.), on what steps need to be taken to tackle the U.S. Postal Service’s growing debt crisis. One of Ross’ comments deals with the exaggerated claim that postal workers pay as little as $32 per month for health care benefits compared to other Federal Workers paying $125. Rep. Ross was on Fox News […]
The US Postal Service released its fourth month preliminary financial report of the 2011 fiscal year (unaudited) . USPS reported a net operating loss of $451 million for the month of January 2011. This same period last year saw a $592 million net loss. In October USPS saw a net profit of $283 Million, November […]
Postal Service Begins 2011 with $329 Million Loss in First Quarter. Recession eases, but First-Class Mail volume continues to decline The U.S. Postal Service (USPS) ended the first quarter of this fiscal year (Oct. 1 – Dec. 31, 2010) with a net loss of $329 million, compared to a net loss of $297 million for […]
$173 Million Net Loss for FY 2011 The US Postal Service yesterday filed with PRC its second month preliminary financial report of the 2011 fiscal year (unaudited) . USPS reported a net loss of $456 million for the month of November. This same period last year saw a $255 million net loss. In October USPS […]
The US Postal Service yesterday filed its first month of the 2011 fiscal year (unaudited) preliminary financial report with the Postal Regulatory Commission. USPS reported a net profit of $283 million. This same period last year saw a $221 million net loss. Total Mail Services Volume was up 5.0%, revenue down 1.7% Total Shipping Services […]
Despite aggressive management actions to increase revenue and reduce expenses, the fiscal year 2011 Integrated Financial Plan (IFP) results in an Operating Plan with a net loss of $6.4 billion and a cash shortfall of $2.7 billion. The 2011 IFP also includes a Capital Plan that commits $1.4 billion toward projects that focus mostly on […]
Not $8.5 Billion On November 12, the U.S. Postal Service released a report that stated it had lost a staggering $8.5 billion in Fiscal Year 2010, which ended September 30. Media coverage of the report predictably focused on its negatives—the historically high figure is undeniably a headline-grabber—and news stories, shying away from the somewhat harder […]
WASHINGTON – Today, Sen. Carper (D-Del.), chairman of the Senate Subcommittee on Federal Financial Management, Government Information, Federal Services and International Security which oversees the U.S. Postal Service, released the following statement in response to the Postal Service’s announcement earlier today that it lost $8.5 billion in the last fiscal year. Sen. Carper is a […]