USPS reports $586 million net loss in Q3

Press Release – August 10, 2015 • Operating revenue of $16.5 billion is level with the same quarter last year • Shipping and package revenue increase of 10.6 percent • Productivity improvements continue, somewhat offsetting inflationary cost pressures WASHINGTON — The U.S. Postal Service reported a net loss of $586 million for the third quarter…

 Continue reading

Postal Service pleads to Congress for help

The Hill - Opinion

Top U.S. Postal Service officials are increasing pressure on Congress to deliver legislation to overhaul the agency, saying that recent improvements in its bottom line will fade away over the coming year. Postmaster General Patrick Donahoe and other agency officials on Friday called the Postal Service’s last quarter its best in six years, and the…

 Continue reading

USPS has 2% revenue increase, $2 billion loss in quarter 3

Shipping and Package Services Revenue Up 6.6 Percent January Price Increase Offsets Continued Volume Loss in First-Class Mail, Driving All Mail Revenue Up $424 Million Need for Comprehensive Legislation Remains Urgent WASHINGTON — The U.S. Postal Service ended the June 30, 2014, quarter with a net loss of $2.0 billion, compared to a net loss…

 Continue reading

Say it ain’t so, Joe: USPS CFO tries to bamboozle the WSJ

“The situation now, as you can see, is fairly precarious. When you have roughly $4 billion of cash, and over $100 billion in liabilities, it doesn’t take a genius to figure out we’re in a financial crisis.” —USPS Chief Financial Officer Joseph Corbett, Wall Street Journal online edition, June 18, 2014 June 18, 2014—Poor Joe…

 Continue reading

USPS lost $1.9 billion; UPS makes $1.5 billion. What’s wrong with this picture?

Through rain, sleet, snow, the mail is delivered and I am truly grateful for the men and women of the US Postal Service (USPS). However, I must admit to being alarmed at the fiscal management of the organization. According to The Hill, “The USPS lost $1.9 billion over its most recent quarter, despite bringing in…

 Continue reading

Postal finances: the numbers tell the truth, but not the whole story

Where you stand on the U.S. Postal Service’s financial situation depends on where you walk. “U.S. Postal Service Records Second Quarter Loss of $1.9 Billion” was the headline of a USPS press release issued Friday. But if you are a letter carrier walking city streets and believe your union leaders, Postal Service finances don’t look…

 Continue reading

Postal Service, lawmakers clash over improving finances

The Postal Service’s improving financial situation is fueling a debate between the agency, lawmakers and unions over what kind of legislation is needed to save the struggling agency. At stake are billions of dollars, tens of thousands of jobs and the future of the agency. The debate centers on which income best represents the Postal…

 Continue reading