Web News Article #: 149-14
08/11/2014 – USPS management is doing its best to keep the good news quiet, but facts are facts.
According to reports released by the USPS on Aug. 11, as of June 30, three-quarters of the way through Fiscal Year 2014:
- Operating income was up by about $1 billion over the previous year;
- Revenue increased 2.1 percent due to a postage rate hike;
- Package volume continued to grow, and
- The decline in first-class mail volume was less than management predicted and first-class revenue was unchanged.
“Despite the good news, Postmaster General Donahoe continues to paint a desperate picture of postal finances to justify his push to privatize the U.S. Postal Service,” said APWU President Mark Dimondstein. “But USPS financial reports show the Postal Service is rebounding from the economic collapse of 2008 and can thrive as a public institution – if it is allowed to do so.”
A net loss of $4.2 billion for the first nine months of the year reported by the Postal Service is the result of a unique legislative pre-funding requirement the USPS will not actually pay.