NALC President Rolando’s statement on USPS’ Fiscal 2016 report

Statement from Fredric Rolando, president of the National Association of Letter Carriers, on USPS’ annual financial report: Today’s Postal Service financial report shows a $610 million operating profit for Fiscal Year 2016, demonstrating the strength of the postal turnaround. USPS now has three straight years of operating in the black, with a total operating profit…

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PMG’s Salary is $286,000 – one tenth of what UPS and FedEx counterparts receive

The chief executive of the U.S. Postal Service was paid less than one tenth of what her counterparts at competitors UPS and FedEx received last year. Postmaster General Megan Brennan’s salary during Fiscal Year 2016 was $286,137, the USPS revealed today in a financial statement (Page 72 of this PDF). The total value of her…

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USPS Reports $5.6 billion net loss in Fiscal Year 2016 

The Postal Service has reported a net loss of approximately $5.6 billion for fiscal 2016 (Oct. 1, 2015-Sept. 30, 2016), compared to a $5.1 billion loss for the previous fiscal year. The fiscal 2016 loss was driven by mandated retiree health benefits expenses. If this prefunding obligation was excluded, USPS would have recorded net income…

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PRC Recommends the President and Congress Address Financial Condition of USPS

Press Release – November 14, 2016 Washington, DC – The Postal Regulatory Commission (Commission) today made its recommendations to the President and Congress to address the volatile financial condition of the U.S. Postal Service. The Commission is required every five years under Section 701 of the Postal Accountability and Enhancement Act of 2006 (PAEA) to…

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USPS releases holiday delivery estimates

The Postal Service will deliver about 16 billion cards, letters and packages this holiday season, according to projections released Nov. 14. The deliveries will include 750 million packages, a 12 percent increase from last year’s volumes. “Our customers can count on the entire Postal Service workforce to deliver their holiday gifts, cards and letters,” said…

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CBO Cost Estimate of H.R. 5714 – Postal Service Reform Act of 2016

As ordered reported by the House Committee on Oversight and Government Reform on July 12, 2016: H.R. 5714 would change the laws that govern the operation of the Postal Service (USPS), restructure how the federal government pays for health benefits for federal employees and annuitants, and alter how the federal government calculates the contributions that…

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OIG Report: Governance of the U.S. Postal Service

November 10, 2016 (RARC-WP-17-002) The Board of Governors provides the Postal Service with strategic direction, similar to a corporate board of directors. As of October 2016, only one of the nine governor positions was filled. In December 2016, there will be no remaining governors, unless more are confirmed. This unprecedented situation could have broad ramifications…

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