End Times and Current Events
March 29, 2024, 05:02:04 am
Welcome, Guest. Please login or register.

Login with username, password and session length
News: Welcome To End Times and Current Events.
 
  Home Help Search Gallery Staff List Login Register  

USPS closings making small businesses nervous

Shoutbox
March 27, 2024, 12:55:24 pm Mark says: Shocked Shocked Shocked Shocked  When Hamas spokesman Abu Ubaida began a speech marking the 100th day of the war in Gaza, one confounding yet eye-opening proclamation escaped the headlines. Listing the motives for the Palestinian militant group's Oct. 7 massacre in Israel, he accused Jews of "bringing red cows" to the Holy Land.
December 31, 2022, 10:08:58 am NilsFor1611 says: blessings
August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
View Shout History
Pages: [1]   Go Down
  Print  
Author Topic: USPS closings making small businesses nervous  (Read 3638 times)
Psalm 51:17
Global Moderator
Hero Member
*****
Offline Offline

Posts: 28357


View Profile
« on: August 09, 2013, 05:15:31 pm »

http://finance.yahoo.com/news/postal-had-740-million-third-180723369.html
Postal Service had $740 million third-quarter loss

Postal service reports $740 million third-quarter loss, asks Congress for help to rebound

8/9/13

WASHINGTON (AP) -- The Postal Service has trimmed its losses to $740 million over the last three months by consolidating processing facilities, cutting hours for workers and post offices and reducing workers' compensation costs, the agency said Friday.

Still, year-to-date, the Postal Service had losses totaling $3.9 billion, and the agency said that without help from Congress its financial woes will worsen.

The report for the financial quarter ending June 30 comes as Congress considers proposals to fix the agency's finances. The agency lost $16 billion last year and is trying to restructure its retail, delivery and mail-processing operations.

Over the first nine months of its fiscal year, the Postal Service said 104 mail processing facilities were consolidated, career employee work hours were reduced by about 41 million and operating hours at 7,397 post offices were reduced.

The service wants to end most Saturday and door-to-door mail delivery. It also is seeking to reduce its congressionally mandated $5.6 billion annual payment for future retiree health benefits. The agency says ending Saturday mail delivery would save $2 billion each year.

Joe Corbett, the agency's chief financial officer, said in a statement that "without comprehensive postal reform legislation signed into law, our hands are tied and we expect multibillion dollar annual losses to continue."

The third-quarter loss was far less than its $5.2 billion loss for the same period last year. Postal officials said its cost-cutting and efficiency moves helped lower losses, along with a $918 million decrease to its workers' compensation expenses due to interest rates.

Shipping and package revenue continued to be a bright spot for the agency, increasing 8.8 percent compared to the same period last year. That helped operating revenue rise 3.6 percent to $16.2 billion in the third quarter, compared to last year's third quarter.

First-class mail revenue, the Postal Service's most profitable category, declined by 0.9 percent compared to the same period last year. Total mail volume was 37.9 billion pieces, down from 38.3 billion pieces for the third quarter last year.

The Postal Service for years has been wrestling with declining mail volume and a 2006 congressional requirement that it make advance payments to cover expected health care costs for future retirees, something no federal agency does. The agency expects to miss a $5.6 billion health care payment next month at the end of its fiscal year. It defaulted on two similar payments last year.

The pre-funding requirement for future retiree health benefits accounts for the brunt of the agency's red ink and underscores the urgency for Congress to end the mandate, postal officials say. About $11.1 billion of last year's $16 billion agency losses were due to the annual health care payments.

Earlier this year, the agency backpedaled on its plan to end Saturday mail delivery after running into opposition in Congress.

The National Association of Letter Carriers says ending Saturday delivery would hurt small businesses along with rural residents and the elderly, who depend more heavily on the mail for prescription drugs and other goods.

Postal officials also want permission to ship beer, wine and spirits to compete with private shippers such as FedEx, saying it could bring in as much as $50 million a year. The service also favors gradually ending most door-to-door deliveries in favor of curbside and cluster box service to save money.

Congress is beginning to tackle plans to help the Postal Service.

A Senate bipartisan proposal would let the agency end Saturday delivery in a year and make changes in how pensions and retiree health care costs are calculated in an attempt to stabilize the agency's finances.

It also would impose a two-year moratorium on closing mail processing plants. The agency also would be allowed to ship alcohol. Hearings on the bill are expected after Congress returns from its summer break next month.

The House Oversight and Government Reform Committee recently approved a bill to end Saturday delivery and to change how pension and retiree health costs are calculated to curb the agency's losses. The GOP measure did not win any Democratic votes. The bill also directs the agency to gradually shift from door-to-door delivery to cluster box and curbside delivery as a cost-cutting move over the next decade, something which many House Democrats oppose.

The Postal Service is an independent agency that receives no tax dollars for its day-to-day operations but is subject to congressional control.
Report Spam   Logged
Pages: [1]   Go Up
  Print  
 
Jump to:  

Powered by EzPortal
Bookmark this site! | Upgrade This Forum
Free SMF Hosting - Create your own Forum

Powered by SMF | SMF © 2016, Simple Machines
Privacy Policy