The U.S. Postal Service’s Office of Inspector General (OIG) issued a report today on “The Road Ahead for Postal Financial Services.” Below is a statement from Fredric Rolando, president of the National Association of Letter Carriers: The OIG’s report contains interesting observations and recommendations on ways the Postal Service can begin to serve the needs […]
In fiscal 2015’s second quarter (Jan. 1-March 31), the Postal Service’s operating revenue increased $223 million, or 1.3 percent, when compared to the same period one year earlier. The net loss was $1.5 billion compared to $1.9 billion a year ago. The operating revenue increase was driven by 14.4 percent growth in shipping and package […]
Friday, May 8, 2015 WASHINGTON – Today, Senator Tom Carper (D-Del.), ranking member of the Homeland Security and Governmental Affairs Committee, released the following reaction to the announcement that the U.S. Postal Service reported a net loss of $1.5 billion in the second quarter of fiscal year 2015: “Today’s financial report shows that despite a […]
On Feb. 25, 2015, the U.S. Postal Service’s financial results for the month of January 2015 were posted on the Postal Regulatory Commission’s website. For the month of January 2015, the Postal Service reported a $195 million operating profit. For the fiscal year to date, USPS now has a $1.325 billion operating profit. The $195 […]
Postal News Recap OIG White Paper: USPS financial condition, higher postage rates due to prefunding In the past 8 years, the Postal Service’s financial condition has significantly worsened from making large prefunding payments for retiree health care. Postal Service customers were charged for increased postage, in part, because of these prefunding requirements. Video: Misstep or policy: […]
The U.S. Postal Service had a $1.1 billion operating profit in the first quarter of Fiscal Year 2015, up from $765 million in the same period last year and $144 million two years ago. (See pg. 17 of the Quarter I, 2015 Report on Form 10-Q.) In addition, USPS’ cash balance grew to $7 billion […]
From Fredric Rolando, president of the National Association of Letter Carriers: The Postal Service financial turnaround is continuing into its third year of operating profitability, never more evident than in this quarter with its $1.1 billion operating profit and the increase to $7 billion in available cash. The CFO called it “a fantastic quarter.” This […]
Postal Service 1st quarter financial results release date announced January 23, 2015 -Mark your calendars: The Postal Service will report its first fiscal quarter results (the period from Oct. 2014 through Dec. 2014) on Friday Feb. 6. The Temporary Emergency Committee of the Board of Governors session in Washington, DC, will begin at 8:30 a.m. […]
1/13/2015 – USPS November 2014 financial results: On Dec. 24, the Postal Service results for November and fiscal year-to-date 2015 were posted on the Postal Regulatory Commission website. For November, USPS reported a $59 million operating profit. Add that to the $633 million operating profit from October, and you see that, for the first two […]
National Association of Postal Supervisors (NAPS) Legislative Update -12.12.14 NAPS: Congress Urges USPS to Complete AMP Study Before Starting Plant Consolidations The $1.1 trillion omnibus spending bill winding its way through Congress impacts the Postal Service in several ways: — It preserves the longstanding mandate that the USPS deliver mail six days a week. — […]