By HOPE YEN, Associated Press
WASHINGTON (AP) — The struggling U.S. Postal Service is reporting a record annual loss of $15.9 billion.
The financial losses for the fiscal year ending Sept. 30 were nearly $11 billion more than the previous year.
The numbers cap a tumultuous financial year in which the post office was forced for the first time to default on more than $11 billion in payments to avert bankruptcy.
The mail agency for months has been urging Congress to pass an overhaul bill to let it trim letter delivery to five days a week and reduce annual payments for future retiree health care.
Postmaster General Patrick Donahoe says the large losses cannot be sustained.
The mail agency forecasts billions in additional losses next year as it awaits financial relief from Congress.
Well, maybe they should stop paying for those expensive commercials on TV!
The post office loses so much money because they aren’t competitive with Fedx or UPS. They think they are invincible. You can ship packages for much cheaper other places. And the whole one price ships whatever fits in a certain box from them is a rip off.
that’s too bad. My fault
I pay most of my bills online.
Two words. Employee Concessions.
one word Unions.
They will be the next ones to get a government bailout.
What the hell is employee concessions what the hell you talking about brian I work there and we don’t have anything like that
and it’s not the unions
Time to Privatize it.
and the post office is the cheapest to ship and what you people don’t know is that ups and FedEx ship packages threw us because it’s cheaper for them
no they won’t romeny didn’t get in lol
And it not because I online bills . They have to pay into a account for future retries 75 years and the USPS is the only one that has to do congress made it. They where doing good when online came out an that when the bill came out. to do this
The volume is down but there is stil bulk mail Leyte mail has dropped
The post office should sell photo greeting cards around the holidays on their website. They could mail them for you too it would be so easy.
5 days a a week is the way to go. Obama even has suggested it. Give us weekends off!!
yea but congress won’t go for it
Oh a government run program being mis-managed? Just wait for Obamacare to kick in.
Simply union wages and benefits. It is over folks. Just have your Politicians promise the world and not be around to deliver the goods. You wait until the Teamsters and UAW have to pay out their boomer benefits.
Nothing to do with the USPS
Can anyone guess how much a letter carrier makes per year??
54,000
@richard: close.
I know I work for the USPS I’m a mechanic they make about what I make
56 or 57
I have clients that request we use FedEx or ups- I refuse. I love our post office employees – they will do anything to help me and their services are faster and cheaper!
wonder if the sold those million dollar homes yet . maintenance on those must be huge . and what is this idea on privatizing everything . there are more privet crooks then government crooks . turn off fux news losers
Hahahahha lol like you know
The only thing I ever get in my mailbox is a valuepac. The post office is obsolete.