It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

USPS posts $3.5 billion loss as mail volume plunges

page: 1
1

log in

join
share:

posted on Aug, 5 2010 @ 02:09 PM
link   

USPS posts $3.5 billion loss as mail volume plunges


money.cnn.com

NEW YORK (CNNMoney.com) -- The U.S. Postal Service reported a $3.5 billion loss in its most recent quarter Thursday, as mail volume plummets and retiree health care costs mount.

The quarterly loss was the fourteenth in the last sixteen quarters, the postal service said.

"A significant portion of USPS losses in the past few years has been due to an unprecedented decline in mail volume -- down more than 20% since 2007,"

(visit the link for the full news article)




posted on Aug, 5 2010 @ 02:09 PM
link   
Keep in mind that these are quarterly losses.

This is only going to get worse. Increases in on-line shopping have dramatically cut down on catalogs and on-line billing have cut down on paper bills and other corespondence.

The model of the post office is unsustainable and has been for years.

The rubbish that the post office is a non-government entity is also rubbish. If they decided to cut back mail they would not be allowed to do so, as was evidenced a few weeks ago when they discussed cutting Saturday delivery and congress put the kibosh to that with some foolish statements such as "the post office is a symbol of the US government".

Time to kibosh the Post Office and place it in private hands. Mail only needs to be delivered two or three times a week and there are millions of people who only collect their mail that often or less. The challenge with that is that the labor is so entrenched via union rules and the like that they would be unable to move to that model.

The only way to fix this problem without causing massive problems is for the government to eliminate its quasi role in mail delivery and create more competetion or at least open the business up to the same pressures as the private sector.

That won't happen. You will soon be seeing a congressional push for a public bailout of the US postal service.

money.cnn.com
(visit the link for the full news article)



posted on Aug, 5 2010 @ 02:33 PM
link   
I think it is pretty funny that this is released a week after the PACT Act took effect, which makes it illegal to ship cigarettes by the US Postal Service. Maybe they should have left us smokers alone, for more reasons than our rotten attitudes when we don't have our smokes!!

I say let the post office go down and viva la revolucion!!!!!!!!!



posted on Aug, 5 2010 @ 02:37 PM
link   
I'm sure Congress is hard at work on some bailout/healthcare hybrid bill that simultaneously hands the post office more of our money and forces under threat of fines and imprisonment to send no less than 5 articles of mail each month.

If they can force us to buy insurance they can certainly force us to buy stamps.



new topics

top topics
 
1

log in

join