How bad is the outlook for the Postal Service? Ronald Stroman, deputy postmaster general, doesn’t hesitate.
We’re defaulting on our retiree health benefit obligations, he explains.
We owe the Treasury $15 billion, he says.
First class mail volume is declining about 4 percent a year, he notes.
The Post Office should spend about $10 billion to upgrade its fleet of delivery vehicles and improve its sorting equipment to reflect the growing importance of package delivery, he adds.
It’s not a pretty picture. It helps explain why the Postal Service is talking about unspecified new products it expects to roll out and upgrades such as next-generation postboxes, which could hold packages for customer pickup.
(To the question, “Will you deliver groceries?,” Stroman said he couldn’t say.)
The hulking problem that looms over the Postal Service is the Congressionally imposed requirement that it prepay its retirees’ pensions and health benefits. On paper, this is why the Postal Service reports quarterly losses in the $2 billion range.
go slow = more dough!
Troy McClure- PFP replaced COLA’s for EAS years ago under Potter and in fact your PFP pay increases far exceeded the fixed COLA’s and measly pay increases craft employees got and your salary differential vs.craft got bigger and you are already overpaid,so you have nothing to whine about!
Troy, don’t even try to argue with TSP. You see this type of employee every where you go. They whine about everything and produce little.
In another post TSP said he wasn’t even working…Out on Comp or something.
And he couldn’t make it out in the world working without a union. His complaining and work ethic would have him out on the street in a heartbeat. All his problems are management, couldn’t be anything to do with himself.
TSP
The pay freeze for EAS has NOT been lifted.
Well said TSP! Couldn’t have said it better myself!
Sorry Troy, try to keep up.
Bonuses were reinstated, AS REPORTED ON THIS SITE, some time ago.
And since you’re the typical cluess moronic mgmt. slug let me spell it out to you; I love my job.
I detest the stealing, corrupt, unethical scum that inhabit the mgmt. ranks.
If you can’t see the difference, have your folks explain it to you.
In response to the management posting above, after spending 35 years delivering mail,first on foot, then curbside and NDCBU’s, it was only after management started receiving bonuses or pay-for-performance,that the working atmosphere deteriorated so drastically. Despite the words that come out of the top executives about “service being top priority”, the number one goal of all managers is to make the numbers so you can get your pay-for-performance cash. I was able to provide better customer service in the early years when I was given the time to do so, whether it was making a second attempt at the end of the day to get that signature required on a package or letter, or taking a few minutes to listen to a customer concern about a package which never arrived. Today’s carriers can not deviate from a line of travel to do so without incurring the wrath of the supervisor upon returning to office. And to be late in returning today due to bad weather,such as a blinding thunderstorm that might require you to stop delivery for 10 minutes or so, you are told that is not an excuse for being late. It is such non-rational thinking from today’s managers that has created the workroom atmosphere that requires a union to protect those who do the work from those who like to harass, intimidate,and give threats of removal, all for doing the job the right way!. So for a manager to call those carriers and clerks “cry-babies” is showing how callous and inept he really is.
All the hype about pre-funding is a sorry excuse from top management because like we know, their bonuses are in effect even if we are losing billions! They also initiated an SAA (special achievement award) for the clerk crafts (their favorites) in order to justify their bonuses even with our losses! They also keep hiring their own relatives and friends for the top positions!! Talk about nepotism, this agency is probably the worst culprit of them all. Sad maybe the OIG should dig deeper here? hahaha
Troy McClure: Every web site needs a Troll who has no life.
2 billion loss include mgmt. BONUS ?
By law early outs cannot exceed $20k
ALL YOUR TSP….Do your homework!! Mgmt. bonuses have been frozen for 4 years now and we don’t receive COLA like you crybaby craft employees. If you hate your job (and mgmt) that much, find a different line of work making as much as you are now!
Sorry….you won’t do that!! You won’t have union protection in the private sector. It’s because of scum-bags like you that the PO is in the state their in.
Wouldn’t an early out of $25K eliminate quite a few postal workers? I know two people who’d jump. My wife and I. Use the prefund money to clear at least 50,000 employees from the payroll. Do it before fiscal year ends. Start next year in the black. Makes sense to me
The prefunding is just a way politicians steal from the Post office
good thing they restored the bonus program for management;
good thing they restored the bonus program for management; pay for performance
The only reason the Postal Service must pay for the health care in advance is because of a political decision! The Ratpublicans want the Postal Service to be taken over by their business bastard friends. the business thieves want to steal our retirement and health care funds! The funds belongs to us, not them. Just read the book “Retirement Heist”.
also congress ignores pmg because he cries wolf so much
Hey Ronny, if we’re so broke, how come:
– mgmt. bonuses are in effect.
– yours and your staff’s private gym hasn’t been shut down.
– your staff, the highest paid/do the least, (like yours) positions in the USPS, has grown over 8%.
Ya crook.