By David Yao – March 4, 2015 Without telling you, the U.S. Postal Service (USPS) has slowed down the mail. New service standards went into effect on Jan. 5, ending overnight delivery of local first-class mail. The slower delivery schedules mean that the public will now see a delay in the delivery of bill payments,…
Postmaster General Patrick Donahoe claimed in a May 9 press release that the Postal Service had its “third straight quarter of revenue increase.” Actually, the Postal Service has been reporting revenue increases for five straight quarters. Why is Donahoe minimizing the winning streak? Perhaps someone in Postal HQ’s statistics department was snoozing that day. But…
By David Yao In a May 9, 2014 press release, the Postal Service issued another quarterly press release turning an operating profit (of $261 million) into a loss. The supposed loss, an accounting fiction, was caused entirely by the 2006 law which generates a long-term loan to the Federal treasury, under the guise of “pre-funding”…
