WASHINGTON — The U.S. Postal Service will post a net loss of $1.9 billion on declining volumes of 88.1 billion pieces of mail for the six months ended March 31, 2010, further evidence that the Postal Service continues to face incredible challenges, Postmaster General John Potter said today. Potter reinforced the need for legislative and […]
The U.S. Postal Service, which has said it may lose $7 billion this year, narrowed its fiscal second quarter loss to $1.6 billion. The net loss in the quarter ended March 31 shrank from $1.9 billion a year earlier, the agency said today in Washington. Mail volume dropped 6.3 percent in the past six months, […]
From Postcom.org: PRC Chair Ruth Goldway today told attendees of the IDEAlliance Print Distribution conference that the Postal Service’s proclamation that it will lose $238 billion over the next 10 years if nothing changes is an “unsubstantiated figure with no connection to reality.” Goldway said the USPS is presenting dire forecasts to scare Congress into […]
Canada Post Corporation tabled its 2009 annual report today in Parliament, reporting a profit for the15th consecutive year. The Corporation recorded consolidated net income of $281 million on revenue of $7.3 billion, and reported an operating margin of 4.9 per cent. The profit in 2009 does not truly reflect the underlying weakness in Canada Post […]
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 $611 million. The total Fiscal Year to year loss is $1.5 billion ($592 million lost for the month of January, $179 Million gain the month of December; $255 million lost […]
STATEMENT OF JOHN E. POTTER POSTMASTER GENERAL/CEO BEFORE THE SUBCOMMITTEE ON FINANCIAL SERVICES AND GENERAL GOVERNMENT OF THE COMMITTEE ON APPROPRIATIONS UNITED STATES SENATE MARCH 18, 2010 Good afternoon, Chairman Durbin, Ranking Member Collins, and members of the Subcommittee. I appreciate the opportunity to discuss the serious financial situation facing the United States Postal Service […]
Who is Kidding Who? ( Mar 9, 2010) Lets get real. For the past many months we have been hearing how the Postal Service is going down the toilet financially. The people at USPS headquarters continue to put much of the blame on the cost of labor and the need to reduce expenses. They brag […]
The US Postal Service filed its January 2010 (unaudited) preliminary financial report today with the Postal Regulatory Commission. USPS reported a net income/ loss of $592 million. The total Fiscal Year to year loss is $887 million ($255 million for lost for November and $179 Million gain the month of December) . Mail volume was […]
The US Postal Service filed its November 2009 (unaudited) preliminary financial report yesterday with the Postal Regulatory Commission. USPS reported a net income/ loss of $255 million. The total Fiscal Year to year loss is $476 million ($221 million for the month of October) . Mail volume was down across all classes except shipping services […]
The U.S. Postal Service filed its October 2009 (unaudited) preliminary financial report today with the Postal Regulatory Commission. USPS reported a net income loss of $221 million. Mail volume was down across all classes with an overall total decrease of 17.3%. The Postal Service continues to reduce its workhours with reduction of 10.0%. see full […]