Keep up the good work. Photo: Alexi Rosenfeld/Getty Images The official explanation for the recent service changes at the U.S. Postal Service is that they are the result of ongoing financial problems at the USPS that have been compounded by the effects of the COVID-19 pandemic. Falling quantities of paper mail — including an especially precipitous drop in junk-mail volume — may lead the Postal Service to decide it doesn’t need as many sorting machines as it used to.
All told, the Postal Service reported a loss of $2.2 billion on revenues of $17.6 billion in the quarter. That loss is partly — but not entirely — attributable to the post office’s obligations to put money aside for retiree benefits that were awarded to employees in the past. If you subtract approximately $900 million in costs to amortize those unfunded liabilities , you are left with an adjusted net loss of about $1.3 billion for the quarter — or about 7 percent of revenues.
Retailers will be especially likely to invest in alternative delivery methods if the Postal Service listens to President Trump, who has demanded that the USPS raise it’s rates for delivering packages — a demand that is perhaps shaped by the fact that Amazon’s founder, Jeff Bezos, also owns the Washington Post .
jbarro Oh for crying out loud, it’s a government service, not a for profit operation.
jbarro Pay for EXTRA POSTAGE! Buy stamps and put an extra stamp on each article mailed...
jbarro It has both
jbarro Removing sorting machines that out performs humans is highly suspect , and removing mail boxes there is no good rationale or excuse to improve service with those acts
jbarro All made worse by a self-serving president.
Patbagley jbarro One thing that could be done is rescind the ridiculous requirement to pre-fund health insurance to 75 yrs in the future.
Patbagley jbarro Yeah, right!! Nothing at all suspicious about the timing. This is another attempt by the CorruptRussian GOP to give the USPS to the crooked Koch machine, and in the process, fuck up the election in Nov.
Patbagley jbarro First thing is to make Americans aware that the post office isn't a damn business. It's a service, like the military, that a 1st world nation provides its citizens. The military doesn't make a damn profit y'all. 🙄