Wednesday, November 16, 2011

Yikes! The U.S. Postal Service shows $5.1 billion loss!

Have you seen this story yet? The U.S. Postal Service looks to be in serious trouble.

According to the U.S.P.S. website, the Postal Service ended its 2011 fiscal year (Oct. 1, 2010 – Sept. 30, 2011) with a net loss of $5.1 billion. 

A big part of the problem is that people aren't mailing letters and other First Class mail:

Total 2011 mail volume declined by 3 billion pieces, or 1.7 percent, from 2010. The Postal Service’s largest and most profitable product, First-Class Mail, continued its year-over-year decline, from $34.2 billion in 2010 to $32.2 billion in 2011 (5.8 percent), which dwarfed continued growth in its more competitive products, packages and Standard Mail.
There's a news release on the website, if you want to read all the details here.


Bev Sykes said...

Well, it certainly isn't MY fault (or yours either!)

limner said...

I don't get it. Our post offices are always crowded. People from Asia, Mexico, S America, India--to name a few--are always mailing large boxes, numbers of packages, money (money orders), and everything except livestock. So, maybe some of the small, out of the way post offices are slow, so I'm not buying it. Have you seen some of the commercials the USPS is running?

Oh! And let's not forget the small businesses that pull out enough mail from their boxes. It's enough to support a small town post office. Even Cut 'N Shoot's cute little post office does business. Then there's the Mailbox Etc., and other mail stores in strip malls.

Am willing to bet almost every postal employee would be willing to take a pay cut to keep from losing their jobs. And those excellent benefits.

What a mess.

Andrea Rouda said...

Here's what happens when you try to use the USPS, and why it should be shut down.

Related Posts Plugin for WordPress, Blogger...