Record Efficiency Levels and Work Hour Reductions Cannot Offset Falling Volumes — Fundamental Changes Needed WASHINGTON — The U.S. Postal Service today reported its 2010 financial results, showing a net loss of $8.5 billion for the fiscal year ended Sept. 30. Excluding charges to income primarily resulting from changes to interest rates that impact the […]
eNAPUS Legislative and Political Bulletin As the days before the election recess ebbs, partisan politics seems to be overtaking Congress’ ability to permit the Postal Service to defer the $5.6 billion payment into the Postal Retiree Health Benefits Fund. The plan was to attach the deferment onto a must-pass stop-gap appropriations bill that needs to […]
The US Postal Service today filed its July 2010 (unaudited) preliminary financial report with the Postal Regulatory Commission. USPS reported a net income/loss of $764 million. The total Fiscal Year to Date loss is $6.1 billion (June, $2.5 Billion; May $642;$382 lost for April; $381 lost for month of March; $611 Million lost in February; […]
The fiscal 2010 year-to-date net loss is $5.4 billion Cash Shortfall Likely in 2011; Customer Service Scores Remain High WASHINGTON — The U.S. Postal Service ended the third quarter of fiscal year 2010 (April 1 – June 30) with a net loss of $3.5 billion, compared with a net loss of $2.4 billion for the […]
Aug. 5 (Bloomberg) — The U.S. Postal Service, which has predicted it may lose $7 billion this year, posted a loss of $3.5 billion in its fiscal third quarter alone. The net loss in the quarter ended June 30 widened from a year-earlier $2.4 billion, the agency said today in Washington. An $800 million adjustment to […]
This report presents the results of our audit of the fiscal year (FY) 2009 Standard Mail® Volume Incentive Program (Project Number 10BO008FF000). The report responds to a request from the Postal Regulatory Commission (PRC). Our objectives were to evaluate the Standard Mail Volume Incentive Program (Summer Sale) to determine whether the Postal Service achieved its […]
Recent audit report from the USPS Office of Inspector General : Most Postal Service bargaining unit employees are represented by one of the four major unions. The national agreements signed by senior-level management and the four union presidents include grievance-arbitration procedures that Postal Service management, bargaining unit employees (also referred to as craft employees), and union […]
The US Postal Service filed its May 2010 (unaudited) preliminary financial report on Friday, June 24, 2010 with the Postal Regulatory Commission. USPS reported a net income/ loss of $642 million. The total Fiscal Year to year loss is $2.9 billion ($382 lost for April; $381 lost for month of March; $611 lost in February; $592 […]
Documents submitted by PostalReporter reader shows the Postal Service’s History of requesting 5-day delivery to relieve its financial woes. The 94th and 95th Congresses Representative Tom Corcoran stated at a congressional hearing that the Postal Service took its first formal step toward eliminating one delivery day per week in 1976 when it conducted a study […]
The US Postal Service filed its February 2010 (unaudited) preliminary financial report yesterday with the Postal Regulatory Commission. USPS reported a net income/ loss of $382 million. The total Fiscal Year to year loss is $2.3 billion ($592 million lost for the month of January, $179 Million gain the month of December; $255 million lost […]