Postal Service Reports More Than $2 Billion in Losses

[JBeukema]

The Postal Service is continuing to hemorrhage money, reporting a loss Tuesday of more than $2 billion over the first three months of the year and warning it could be forced to default on federal payments.

Postal Service Reports More Than $2 Billion in Losses - FoxNews.com

[ame=http://www.youtube.com/watch?v=qbn_R8zdlko]YouTube - Nick Gillespie Discusses the Broken U.S. Postal Service with Judge Napolitano[/ame]

 

[B. Kidd]

One of the few agencies authorized by the Constitution.

 

[Rozman]

And the left's ultimate goal is to get the government to run Health Care....How to you think that will work out.

 

[waltky]

Uncle Ferd hope dey don't close the post office - the clerk is real cute...

Post office closures: What happens if a town has no post office?
July 26, 2011 - The Postal Service announced Tuesday that it will consider closing more than 3,600 post offices. Does that mean people in small towns won't be able to send mail? Not necessarily.

Postmaster General Patrick Donahoe on Tuesday painted a picture of what the post office of the future might look like. And for many Americans, he said, it might not even be a post office at all. With the United States Postal Service facing a potential $8 billion deficit this year as mail volume declines, Mr. Donahoe said the agency will consider closing 3,653 of its 31,871 post offices. Particulaly in rural areas, that could leave a town without a post office – but not necessarily without the Postal Service, he said.

The Postal Service network already includes some 70,000 locations in drug stores, grocery stores, or self-service kiosks. In communities where retail post offices might close, a potential replacement would be this so-called Village Post Office model, which operates in a local business to offer equivalent services. “By working with third-party retailers, we’re creating easier, more convenient access to our products and services when and where our customers want them,” Donahoe said in a statement. “The Village Post Office will offer another way for us to meet our customers’ needs.”

The question of which post offices on the Post Office Study List will survive and which will be closed will be answered in the coming months, with the first closures starting in January. Once closures are announced, customers can file an appeal with the Postal Regulatory Commission. The commission will then allow the closing to occur or have the Postal Service conduct further evaluation. But Donahoe noted Tuesday that a large percentage of Americans no longer use post offices.

“Our customers' habits have made it clear that they no longer require a physical post office to conduct most of their postal business,” he said, noting that more than 35 percent of the Postal Service’s revenue is generated from usps.com, iPhone or Android mobile applications, self-service kiosks, and other stores like supermarkets and pharmacies. Indeed, of the nearly 3,700 locations on the list, 3,061 have annual revenue of less than $27,500 and a daily workload of less than two hours. Many of these locations are in rural areas, which presents a conundrum, says Ruth Goldway, chairwoman of the commission, an independent agency that oversees and advises the Postal Service.

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[blastoff]

$2 billion a quarter loss? Peanuts compared to how Amtrak could skyrocket its losses with the addition of high speed rail.

 

[editec]

Ultimately the USPO seems doomed.

It is sitting on a hell of a lot of valuable real estate though.