USPS loses 3.5 billion this quarter.

[sgreger1]

http://www.reuters.com/article/idUSN0517225620100805

USPS loses 3.5 billion in third quarter. This is the14'th (out of 16) quarters where they showed a net loss. And yet our politicians think PACT is somehow doing somebody some good somewhere. Talk about killing jobs, do you know how many people the US postal service employs? 700,000 as of 2006.



"It is uncertain whether sufficient liquidity will be in place for 2011 after the agency must make a $5.5 billion payment on Sept. 30 to prefund retiree health benefits.

Revenue in the third quarter that ended June 30 fell $294 million to $16 billion from a year ago, while expenses were $789 million higher at $19.5 billion, due largely to higher workers' compensation costs and retiree health benefits.
The agency, which delivers nearly half the world's mail, has reported net losses in 14 of the last 16 fiscal quarters."

[tom502]

This is Obama's way of creating jobs.

[c.nash]

THE USPS WILL GO DOWN!! Muahahahaha!!!@!!!~

[truthwolf1]

Out of habit I am still mailing bills but once they hike those stamps again and I am done.

[snusgetter]

http://www.reuters.com/article/idUSN0517225620100805

USPS loses 3.5 billion in third quarter. This is the14'th (out of 16) quarters where they showed a net loss. And yet our politicians think PACT is somehow doing somebody some good somewhere. Talk about killing jobs, do you know how many people the US postal service employs? 700,000 as of 2006.


"It is uncertain whether sufficient liquidity will be in place for 2011 after the agency must make a $5.5 billion payment on Sept. 30 to prefund retiree health benefits.

Revenue in the third quarter that ended June 30 fell $294 million to $16 billion from a year ago, while expenses were $789 million higher at $19.5 billion, due largely to higher workers' compensation costs and retiree health benefits.
The agency, which delivers nearly half the world's mail, has reported net losses in 14 of the last 16 fiscal quarters."

"$5.5 billion payment on Sept. 30 to prefund retiree health benefits."
USPS is the only federal agency that is forced to prefund retirement benefits.
Until this asinine legislation passed, effective 2006, USPS was in the black
while being self-sufficient (i.e., receiving NO tax dollars since 1972).

Remember: Politicians and bureaucrats are your best friends.
(Just don't drop that bar of soap!)

[kellindae]

And notice the money hungry politian in your cartoon pic is smoking a cigar...and cigars get free passes by them...hmmm

[snusgetter]

And notice the money hungry politian in your cartoon pic is smoking a cigar...and cigars get free passes by them...hmmm

Ah, c'mon, that's just a coincidence!

[snusgetter]

Out of habit I am still mailing bills but once they hike those stamps again and I am done.

I didn't realize everybody took online payments.

Probably should shred your credit cards now...

Imagine how many pennies you'll save over the course of a year.

[lxskllr]

I pay virtually everything online. Fake money is fake money. 1s and 0s are just as good as a bogus piece of paper, and it saves resources.

[sgreger1]

Yah, I don't use checks EVER, I deal in cash at brick and mortars and pay all of my bills online or over the phone. That's my part to reduce global warming via less paper consumption.

@ Federal Government: I'll PM you the address you can send the carbon offset check to later.

[snusgetter]

@ Federal Government: I'll PM you the address you can send the carbon offset check to later.

Somehow I think the feds already have your number ... that's all they need nowadays.

Just gotta hope your number's not up yet!!

[truthwolf1]

I didn't realize everybody took online payments.

Probably should shred your credit cards now...

Imagine how many pennies you'll save over the course of a year.

It looks like I spend about 40 bucks a year. Nothing that significant but that is a roll of snus if I sat down and took the time at the computer.

[snusgetter]

It looks like I spend about 40 bucks a year. Nothing that significant but that is a roll of snus if I sat down and took the time at the computer.

I've been checking snus prices lately and comparing them with pre-PACT prices. I've found many of them up by 35-50 cents a can ($3.50 - $5 a roll), before shipping (and UPS rates are climbing).

What I find interesting is that people will generally complain about those increases mostly in passing. Raise the price of a first-class stamp by a penny and you'd think the world was coming to an end, the discussion endless and sometimes confrontational.

I think it may be because the first instance (snus) concerns pleasure-seeking. Where's the pleasure in affixing a stamp to an envelope? Hell, you don't even have to lick them anymore!!

[lxskllr]

I don't complain about postal rates. It's cheaper than driving it there yourself. I also don't see the point in wasting fuel when it isn't necessary. I'll always pick the electronic option when given chance.

[bipolarbear1968]

People tend to forget how much the USPS lost by emails alone.