USPS loses $16 billion. Raises all around!

[jillian]

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 USPS’s 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

 

[eflatminor]

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.

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...

 

[JoeB131]

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.

Two points-

One, if they don't like their union leaders or their union leaders aren't performing, they can vote them out.

Two, unions are required to go to bat for you, even if you don't necessarily deserve it.

Now, the latter point, I find some fault with. An employer should be able to fire a truly bad employee without going through trench warfare with the union. (Such as school boards who take three years to fire teachers who are caught abusing students.)

There should be a happy medium. Employers should be able to get rid of bad employees, but not abuse otherwise okay ones because they do so on a whim.

I'd have been more for the employer, until the last one I had, who fired employees when they got pregnant, had medical issues or family problems. Or just sometimes because he needed to remind himself that he was in charge.

 

[JoeB131]

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 USPS’s 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

Not to take anything away from your excellent point, but I thought, what do the CEO's of FedEx and UPS Make?


FedEx CEO gets pay package worth $13.7 million

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.

Ooooh.. Okay, what about UPS?

UPS chairman's total compensation rises to $13.1M - New Mexico Business Weekly

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.

Yup... nothing to see here.

 

[BallsBrunswick]

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...

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 ******* 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.

 

[eflatminor]

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 ******* 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.

I thought we were done. Now you're back repeating yourself...with another ad hominem to boot!

Good luck with all that.

 

[Care4all]

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

he's highly underpaid if you consider what the CEO of UPS is paid... and i thought gvt employees made more than the private sector equivalents? GUESS that is NOT true in this case???

NEW YORK -- The chairman and chief executive of United Parcel Service Inc. received total compensation last year valued at $9.5 million, a 73 percent jump from 2009, according to an analysis by the Associated Press.

 

[Rocko]

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.

Private secter is more efficient, but not cheaper.

 

[jillian]

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?

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.

 

[jillian]

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.

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.

 

[Care4all]

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....

 

[rightwinger]

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.

The President should make $1 million a year and Congress should get $250,000

 

[jillian]

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

probably about right.

 

[jillian]

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

 

[Samson]

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.

Agreed: public sector jobs should not operate for profit.

However, public sector jobs should not be created when their function can be satisfied in the private sector.

The USPS is obsolete.

 

[Samson]

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 would like to link also; would it be possible for you to share the mystery, O' Wise One?

 

[beretta304]

H.R. 6407 (109th): Postal Accountability and Enhancement Act



Postal Accountability and Enhancement Act (2006; 109th Congress H.R. 6407) - GovTrack.us



http://thomas.loc.gov/cgi-bin/bdquery/z?d109:H.R.6407:



"....a 2006 law that forced the USPS to become the only agency required to fund 75 years of retiree health benefits over just a 10-year span, and say the law’s requirements account for 100 percent of the service’s $20 billion in losses over the previous four years, without which the service would have turned a profit."


Shock Doctrine at US Postal Service: Is a Manufactured Crisis Behind Push Toward Privatization?

 

[eflatminor]

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 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.

 

[rightwinger]

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 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.

No private company wants to compete for the right to send a letter across the country for 45 cents

 

[Care4all]

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 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.

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.

and there is absolutely nothing that is stopping the private sector in competing with daily mail delivery to a customer's home....the reason they have not done it, is that they can not afford to do this and pay their ceos 9 million a year in compensation.....

UPS and FEDX decided to compete against the Post office with their packages, why NOT daily mail to every home in America? there is no law restricting them from competing right now....