The US Postal Service filed its eighth month preliminary financial report of the 2013 fiscal year (unaudited) with the Postal Regulatory Commission (PRC) . USPS reported a net operating profit of $202 million for the month of May 2013 (PDF). This same period last year saw a $2.041 billion net loss. After eight months into FY 2013 USPS reports a net loss of $3.842 billion (same time last year it was $10.097 billion).
Mail Volume and Mail Revenue
USPS Preliminary Expenses (Unaudited)
mrod don’t count on the postal service saving jobs. They are working with big mailers to keep giving those big discounts. Standard mail accounts for just over 50% of volume but only 30% of revenue. That means the average price for junk mail is under 20 cents a letter. I started with the P.O. in 1978, when a 1st class stamp was 13 cents and bulk postage was 9 cents at most. That means 1st class mail has tripled in price but bulk mail has only doubled. All that is happening at the P.O. now is to get rid of well paid union workers and replace them with low paid non union workers.
This would keep rates low for a few years for the large mailers. Then greed would kick in when the private company would start raising rates with no congressional control of prices. This happened before in the early 1800’s. It is why the postal service today has a monopoly on letters, to keep rates low for all customers.
Postal management has been taught for years that revenue comes from bulk mail, even though annual reports say otherwise. Yet most supervisors and low level managers never read these reports.
Management is trying so hard to make the Postal Plan work, that mail is being stored in trucks in at least one facility, Denver, CO. We just heard one of the many trailers in the parking lot was opened and the mail had been there since Christmas! Some kids got there presents very late!
Yay!!! Finally they stop spending our revenue that we make on machines and technology. We can now save it to get back on Top of business and care for the employees!!!
Manipulating numbers? Buyouts paying dividends. 5 day delivery should make break even point if parcel revenue continues to increase and small community offices are closed or consolidated as from a service stand point they are useless and only provide salaries for postmaster which is a total waste. Cost effective operations must be employed and higher level STAPH positions that exist only for name sake should be eliminated.
I think they should give the money to Darrell Issa.
Are we talking about going to 5 day delivery? Then…. BORING!!!
Mr Issa is a known criminal. That man can see a profit for himself and is willing to ruin an age old institution for personal gain. This is all very sad in the grand scheme of things.
That’s why Issa want to privatize it.
Right on SA Jones. What they’re doing is outright robbery and theft of funds, plain and simple.
You or I did the same, we’d be fired and prosecuted.
But not in the postal mgmt. world. They get promoted instead.
Now ain’t this just the cat’s meow ! No wonder Congress drags it’s feet , just follow the money ! !
Profit because in our office they are not paying us for hours worked. Liars and thieves is actually correct as well in mgmt at all levels. We worked overtime and were not paid for all of it. People watch your hours worked. The Union loves to file grievances but will not pursue the Supv who cheated us. I think a trip to the Labor Board to file charges is in order. I used to love working for the USPS but they have made it so hard to just come to work and do your job. It is a sad commentary that a company would cheat employees time and again to save money. Please just give the City Carriers a VERA and go about your spiral down the drain without the “old ones” that actually care about how we do our jobs.
Take out workman’s comp and the prepaid bs….then real numbers appear.
Last year income 5.282billion..expenses 5.623 billion loss 341 million.
This year income5.357 billion..expenses 5.490 billion loss 133 million.
Now if we can get rid of all the sweetheart non verifiable deals, we’ll be profitable.
BONUS TIME AGAIN, BABE!
Anyone who believes anything, especially financial numbers, good or bad, that comes from USPS mgmt. is a fool.
USPS mgmt at all levels = liars and thieves.
What? make money? Then must pay the default money. Don’t share the bonus!