The USPS reported a net loss of $1.026 billion for January 2014 according to preliminary (unaudited) data submitted to the Postal Regulatory Commission (PRC). Same time last year USPS reported a net loss of $437 million. After four months into FY 2014 USPS reports a net loss of $1.4 billion. The same period last year (SPLY) USPS reported a net operating loss of $1.7 billion.
Mail Volume and Revenue for January 2014
http://prc.gov/prc-docs/home/whatsnew/USPS%20January%202014%20financials_3481.pdf
OPM owes us 120 billion over payment. That’s our money!! The postmaster general and his cronies only worry how much of a bonus they will get. We lose money every year and these p.. take bonuses. A bonus is for a job that makes money, you .. in Washington. They are the one’s ruining the Service. Now they are buying a new generation scanners for the third time. That’s 10s of millions of our money wasted by management who don’t have the brains they were born with, if the have any at all. They should all be put in jail for impersonating federal employees!!
What on earth does a monopoly on first class mail have to do with health benefit funding? Mail was set up by Congress to be a non-profit service to the public at a reasonable cost. It was never meant for profiteering.
That’s cool….. Only a billion? Nobody wants to do anything about it…. Screw it!!
The retirement health benefit funding requirement seems reasonable to me given the monopoly granted the agency on first class mail. No private company enjoys that protection.