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Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay
Postmaster General Patrick Donahoe, for instance, earned a base salary of $276,840, but even without a bonus or incentive payout, his overall compensation came to $512,093, compared with $384,229 in 2011, according to regulatory filings.'
Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay - Washington Times
Operationally speaking, the USPS nets profits every year. The financial problem it faces now comes from a 2006 Congressional mandate that requires the agency to pre-pay into a fund that covers health care costs for future retired employees. Under the mandate, the USPS is required to make an annual $5.5 billion payment over ten years, through 2016. These prepayments are largely responsible for the USPSs financial losses over the past four years and the threat of shutdown that looms ahead take the retirement fund out of the equation, and the postal service would have actually netted $1 billion in profits over this period.
Well once again the post office isn't a business...
Doesn't mean it shouldn't be replaced by many businesses.
Again, private companies are prevented by law from delivering letters. With regard to other packages, UPS, FedEX, DHL, etc would disagree. As would many of their customers.
I seriously do not understand why you're not getting this.
Such is the case with most people on the receiving end of a service made possible with other people's money.
I say it's time for you to pay for your own delivery service.
We're not going to agree on this and frankly I think you're a moron. Thankfully though your opinion means nothing and I'll continue to have a cheap efficient means to conduct my business. Thanks for your tax dollars asshole.
I would like to see the post office brought back into the government and ran as an enterprise fund. It's part of our Constitution and is the only legal way to send first class mail so keep it but bring it under the government and disband the union (no need for unions in government work). The way it is being ran now is irresponsible. Either make them a government department or change the postal laws and stop funding them with government money.
You need government unions for the same reason you need private sector unions.
To keep those in charge from abusing their authority.
Only to be abused by the union leaders? Great plan.
Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay
Postmaster General Patrick Donahoe, for instance, earned a base salary of $276,840, but even without a bonus or incentive payout, his overall compensation came to $512,093, compared with $384,229 in 2011, according to regulatory filings.'
Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay - Washington Times
why not? isn't that what private industry does, give golden parachutes to people who run the company into the ground... then take give-backs from employees? don't you love that?
but really... try to deal in fact:
Operationally speaking, the USPS nets profits every year. The financial problem it faces now comes from a 2006 Congressional mandate that requires the agency to pre-pay into a fund that covers health care costs for future retired employees. Under the mandate, the USPS is required to make an annual $5.5 billion payment over ten years, through 2016. These prepayments are largely responsible for the USPSs financial losses over the past four years and the threat of shutdown that looms ahead take the retirement fund out of the equation, and the postal service would have actually netted $1 billion in profits over this period.
The U.S. Postal Service | Need to Know | PBS
NEW YORK The founder and top executive at FedEx received a pay package worth $13.7 million in the most recent fiscal year, nearly double a year earlier.
That hike for CEO and Chairman Frederick W. Smith was due to the addition of long-term incentive pay, which rewards the company's top brass for meeting certain earnings thresholds over a three-year period. It was the first time in four years that FedEx executives got long-term incentive pay.
United Parcel Service Inc. in 2011 delivered a total compensation package to Chairman and CEO Scott Davis that was about 22 percent higher than in 2010.
In a proxy filing Monday with the Securities and Exchange Commission, the package shipper and logistics company said Davis total compensation rose to nearly $13.1 million last year, as its profit was up 14 percent to $3.8 billion.
Doesn't mean it shouldn't be replaced by many businesses.
Again, private companies are prevented by law from delivering letters. With regard to other packages, UPS, FedEX, DHL, etc would disagree. As would many of their customers.
Such is the case with most people on the receiving end of a service made possible with other people's money.
I say it's time for you to pay for your own delivery service.
We're not going to agree on this and frankly I think you're a moron. Thankfully though your opinion means nothing and I'll continue to have a cheap efficient means to conduct my business. Thanks for your tax dollars asshole.
Reverting to multiple ad hominem attacks in lieu of logic or reason...typical.
Anyway, good luck with all that. And good luck keeping your cheap delivery service made possible through theft. It's not like the country is running out of money or anything...
We're not going to agree on this and frankly I think you're a moron. Thankfully though your opinion means nothing and I'll continue to have a cheap efficient means to conduct my business. Thanks for your tax dollars asshole.
Reverting to multiple ad hominem attacks in lieu of logic or reason...typical.
Anyway, good luck with all that. And good luck keeping your cheap delivery service made possible through theft. It's not like the country is running out of money or anything...
If you don't understand why a government postal service that's efficient and cheap is necessary for a society to conduct business, then all I can do is call you a fucking moron and move on. When you move out of your parents' house maybe you'll understand.
And yeah, it's the post office that's bleeding this country dry. Not the wars, fucked up tax system, or a whole gang of corruption. Nope, it's actually the best, most beneficial and most efficient thing the government does.
he's highly underpaid if you consider what the CEO of UPS is paid...Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay
Postmaster General Patrick Donahoe, for instance, earned a base salary of $276,840, but even without a bonus or incentive payout, his overall compensation came to $512,093, compared with $384,229 in 2011, according to regulatory filings.'
Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay - Washington Times
and i thought gvt employees made more than the private sector equivalents? GUESS that is NOT true in this case??? Thanks for the laugh.
BTW, does that private company get to steal money from customers that aren't their customers? Probably why they'd be more expensive, eh?
So I guess by you spinning off-topic, you don't have an answer?
Uh, the PO has a legal monopoly on first class mail. It is therefore impossible to identify a competitor that could do it better, even though any rational person knows the private sector is always more efficient...competition and all forces that.
Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay
Postmaster General Patrick Donahoe, for instance, earned a base salary of $276,840, but even without a bonus or incentive payout, his overall compensation came to $512,093, compared with $384,229 in 2011, according to regulatory filings.'
Despite $15.9 billion loss, U.S. Postal Service execs see boost in pay - Washington Times
Given that it is a Washington (Moonie) Times article we can automatically assume that they are omitting key information
How did their Retirement Account grow? Was it through their own contributions? Was it from mandated matching contributions? Was it from increases in the stock market?
My Retirement Account grew last year....but it wasn't from compensation
I suspect another Washington Times propaganda piece
What are they going to do when Moon's heirs cash out the Cult and close down the paper?
The chief of the struggling U.S. Postal Service received $384,229 in compensation last year
So I guess by you spinning off-topic, you don't have an answer?
Uh, the PO has a legal monopoly on first class mail. It is therefore impossible to identify a competitor that could do it better, even though any rational person knows the private sector is always more efficient...competition and all forces that.
Private secter is more efficient, but not cheaper.
Given that it is a Washington (Moonie) Times article we can automatically assume that they are omitting key information
How did their Retirement Account grow? Was it through their own contributions? Was it from mandated matching contributions? Was it from increases in the stock market?
My Retirement Account grew last year....but it wasn't from compensation
I suspect another Washington Times propaganda piece
What are they going to do when Moon's heirs cash out the Cult and close down the paper?
i'm sure there will be many more places for them to get propaganda, lies and fauxrage. it's who they are.
reality:
The chief of the struggling U.S. Postal Service received $384,229 in compensation last year
Postal chief's pay under fire from lawmaker - Mar. 2, 2012
that said... the postmaster general still shouldn't earn almost what the president does.
What are they going to do when Moon's heirs cash out the Cult and close down the paper?
i'm sure there will be many more places for them to get propaganda, lies and fauxrage. it's who they are.
reality:
The chief of the struggling U.S. Postal Service received $384,229 in compensation last year
Postal chief's pay under fire from lawmaker - Mar. 2, 2012
that said... the postmaster general still shouldn't earn almost what the president does.
The President should make $1 million a year and Congress should get $250,000
I couldn't have my small business if I had to pay the inflated Private sector prices of UPS or Fedex to ship, and millions of small businesses just like me could not either....
And this is the fault of Republicans that introduced and passed a law that makes the USPS fund retirements of their employees out 75 years. There is ABSOLUTELY NO private sector business or gvt agency that is REQUIRED BY LAW to fund pensions upfront for the next 75 years and for employees that have not even been hired yet....it's typical bullcrap DONE BY THE Republicans to FORCE USPS in to bankruptcy so they can support their corporate masters at UPS and FEDX.
google is your friend, read up on it....
Uh, the PO has a legal monopoly on first class mail. It is therefore impossible to identify a competitor that could do it better, even though any rational person knows the private sector is always more efficient...competition and all forces that.
Private secter is more efficient, but not cheaper.
it isn't more efficient.
and things that operate in the public interest shouldn't be 'for profit'... there is no incentive to ACT in the public interest when profits are involved. that seems to be the part of the equation that the brainwashed right has a problem with.
I couldn't have my small business if I had to pay the inflated Private sector prices of UPS or Fedex to ship, and millions of small businesses just like me could not either....
And this is the fault of Republicans that introduced and passed a law that makes the USPS fund retirements of their employees out 75 years. There is ABSOLUTELY NO private sector business or gvt agency that is REQUIRED BY LAW to fund pensions upfront for the next 75 years and for employees that have not even been hired yet....it's typical bullcrap DONE BY THE Republicans to FORCE USPS in to bankruptcy so they can support their corporate masters at UPS and FEDX.
google is your friend, read up on it....
thanks. i just linked to that information. but you're 100% correct
I couldn't have my small business if I had to pay the inflated Private sector prices of UPS or Fedex to ship, and millions of small businesses just like me could not either....
And this is the fault of Republicans that introduced and passed a law that makes the USPS fund retirements of their employees...
I couldn't have my small business if I had to pay the inflated Private sector prices of UPS or Fedex to ship, and millions of small businesses just like me could not either....
What you fail to understand is that if the monopoly on first class mail were lifted, hundreds (if not thousands) of private concerns would enter the market to COMPETE for your business. That competition forces innovations and improvements in efficiency government agencies do not face. Now, because those private concerns cannot take money from non-customers (as the Post Office can), prices will better reflect the actual cost of mailing a letter.
And this is the fault of Republicans that introduced and passed a law that makes the USPS fund retirements of their employees...
First, that bill was co sponsored by Bernie Sanders...not exactly a Republican and it passed by a vote of 410 to 20. Clearly, there was bipartisan support.
Further, the PO's problem in prefunding the retirement benefits of its employees came about in the first place because it wasnt meeting those obligations before 2006. It was then that the Congress mandated that it follow the same accounting practices it requires of all other businesses in the United States.
So, I'd agree with you, but you're wrong.
Please show us all, that ANY business in the united states is required by law to fund their pension 75 years upfront for employees that have not even been born or hired yet.I couldn't have my small business if I had to pay the inflated Private sector prices of UPS or Fedex to ship, and millions of small businesses just like me could not either....
What you fail to understand is that if the monopoly on first class mail were lifted, hundreds (if not thousands) of private concerns would enter the market to COMPETE for your business. That competition forces innovations and improvements in efficiency government agencies do not face. Now, because those private concerns cannot take money from non-customers (as the Post Office can), prices will better reflect the actual cost of mailing a letter.
First, that bill was co sponsored by Bernie Sanders...not exactly a Republican and it passed by a vote of 410 to 20. Clearly, there was bipartisan support.And this is the fault of Republicans that introduced and passed a law that makes the USPS fund retirements of their employees...
Further, the PO's problem in prefunding the retirement benefits of its employees came about in the first place because it wasn’t meeting those obligations before 2006. It was then that the Congress mandated that it follow the same accounting practices it requires of all other businesses in the United States.
So, I'd agree with you, but you're wrong.
