The Postal Service’s financial stability is improving, but significant challenges remain, says PMG Pat Donahoe.
In his latest message to employees, Donahoe reviews the Postal Service’s financial results for the first half of the fiscal year (Oct. 1-Mar. 31) and discusses strategies for moving forward.
“From a financial standpoint, compared to last year, we’re about $1 billion ahead on net profit. That’s operating profit,” says Donahoe. “Our cash liquidity — the cash on hand — is better than last year. Revenue is better than the same period last year by about $700 million.”
http://youtu.be/2GDnluCmdEs
The results also show expenses are down when compared to last year, Donahoe says. “We need to continue controlling the things that we can, the operating expenses and the operating revenue,” he says.
Challenges remain, including the congressionally mandated prepayments to the Retiree Health Trust Fund. “When you add in the money that we’ve got to spend for retiree health benefits and some cash adjustments for worker’s compensation, we’re about $2.5 billion in the hole,” the PMG says.
The continuing decline of First-Class Mail volume is another concern. “We’re about 2 billion pieces short of where we were last year,” the PMG says.
The PMG also discusses other topics, including 3,900 recently hired city carrier assistants and the Postal Service’s Post Plan. He also encourages employees to remain focused on customer service and delivering and scanning packages properly. “We can’t lose the package business,” he says. “We’ve got to be perfect in what we do going forward.”
The PMG concludes by thanking for employees for their excellent work. “Keep doing a great job with scanning and delivering and we’ll continue to grow the package business and the mail business into the future for this organization,” he says.
Love you and your attitude Glorified Paper! You are so spot on about the 1st class mail and yes, let’s up the BBM price. It’s about time someone takes responsibility 🙂
Truck driver…maybe because there isn’t enough mail for 6 day???????
Who needs coupons and catalogs 6 days a week? No, the elderly will not suffer…No, Society will not suffer…and NO, the economy will not suffer with 5 day delivery. ALL my customers could care less about Saturday delivery, because they will still get their packages, which is all they care about anyway.
If I have 100 pieces of 1st Class mail IN A WHOLE WEEK, I would be amazed. It’s all junk.
Let us raise the price of this BBM, go to 5 day and see how much money we make. And please don’t respond that customers who mail this BBM will go somewhere else, because THEY WILL NEVER FIND SOMEONE TO DELIVER IT AS CHEAP,AND TO EVERY SINGLE HOUSE IN AMERICA, AND THEY CAN’T USE THE MAILBOX ANYWAY!!! So, if they do take their business elsewhere…they would be back in a week.
Put me in charge for a month and I would have this place running like a well oiled machine. I would treat the workers who actually work, like the golden employees that they are, and the ones milking the clock for overtime would be looking for new jobs.
Just my two cents…
Sad this job is starting to look like a high school job for high school kids that just graduated ….like a pizza delivery job lol….it’s get there slowly
Why would anyone but the very senior carriers want 5 day? Only thinking of yourself. Ot would mean more job losses.
No benefits and no good pay ….my ? Is starting to look ahead
Love this Job but they have turned it from a career to just a job
Ok you can stop slashing service, and hours and closing facilities now
Yeah and I have carried a route with 1400+ stops
The Post Office is like a family business to me since I come a Postal Family of carriers and are Civil Service ….Some retired and some still working hard and giving it their best which is still amazing.! The political games do need to stop ….All working class should stand up to both bs parties cause they both down what America stands for.
Okay not all old are lazy and slow on purpose. There are some that give it their best and are good. And there are some youngbloods that are slower than the old timers which is sad
Mrod, you do a route for 30 years or more, and let’s see how fast you are.
Typical mgmt. scum, who has never carried mail, and contributes nothing to it’s movement now.
I do believe Fed-X did offer their employees a buy-out.
So USPS should be at LEAST be able 2 match/ exceed their offer?
Right Mr Competition? By the way smart one? Do remember what that offer was?
Young Guns….LOL!!!
Yes mrod it is true as u 2 shall soon fine out for yourself. The power of nature/life gives you starting your young competition full of energy, head full of hair working life staying power which business love to suck the live out of. As time goes/wears on $hit starts to happen,the wheels start to fall off.
It’s life, you’ll slow down, till your dead, why do Republicans want to raise the retirement an Medicare age? They hope u die before u can get your benefits so they can keep them. Suck the life out the young working competition force for as cheep as u can.Then at the end? Issa final solution fired no severance pay of any kind, kick them back to the streets. The true business/Republican model NimRod way.
God Help America
Why would you not want to go to 5 day delivery??? This place blows!! I take off every weekend I can get!!! You people are nuts!! Look at the knuckle heads they are Hiring?? This place is doomed regardless…… So I’m headed to the beach. 1st weekend they give me!!!!!!! #5day4life
We have too many old employees that have these baby routes and takes them all day to do. Cause they want to be slow on purpose. …yeah talk about competition
If this clown spent as much time trying to improve the USPS, as he does these lame ass videos, imagine the improvement in things.
Is he a narcissism ?
Why am I asked, you going to retire soon? So much?
Like every week now somebody ask that.
So Mr PMG could you ask your curious little minded management who only care about getting rid of us So Called High Paid Employees that paid our dues/time to get where we are, to replace us with the new Walmart crews that WHEN IM GOSH DAMM READY!
For those on the HILL $50K and throw in a yr or 2. Or it’s the same responds as above.
The Ball is in my court.
I’m sure it’s purely coincidence, that at the same time the bonuses are due to start, the USPS magically starts showing a profit………………………..right ?
As usual, more lies, deceit, corruption, and sleaze from postal mgmt.
Since I started in the early 70s there has not been a single Postal management person so despised as Patrick Donahoe. Donahoe insults the employees and the American public that he takes us to be so stupid as to believe his lies. He embarrasses himself every time he opens his mouth. But, I suppose he will reap his rewards from the privateers when he has finally completed the dismantling of the Post Office.
Hey USPS, there’s technology out there called 3-d printing. Just letting you know since no one apparently ever explained the internet to you!
what ever you say pmg