usps isnt in "business", its a service provided by the us government. they dont lose anything, its just the cost of running it.
Well 2 billion dollars of tax paying dollars..... Guess next your going to want a Bail Out from tax payers for your pension when you retire. Or you going tell me the pension not broke.....LOL
Postal Service Loses Almost $2 Billion
The government-backed mail carrier is still losing truckloads of money, despite cost-cutting efforts and recent delivery deals with Amazon. The Postal Service faces significant challenges as first-class mail and other sources of revenue
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The United States Postal Service netted a loss of
$1.9 billion in the second quarter of its 2014 fiscal year, it said Friday.
Despite cost-cutting and recent delivery deals with Amazon, the Postal Service faces significant challenges as first-class mail and other sources of revenue decline. The agency owes close to a $100 billion in benefit payments to its workers, the
New York Times reports. But the Postal Service says it has other major problems it needs to correct for it to stay afloat in the future. In March, Jeffrey C. Williamson, the Postal Service’s chief human resources officer, testified before a congressional committee and said it could not return to profitability without comprehensive reform legislation. Bills are pending in the House and Senate.
“Some comments in recent news reports suggest that all we need from Congress is help with restructuring our retiree health benefit plan,” Chief Financial Officer and Executive Vice President Joseph Corbett said Friday,
Reuters reports. “Nothing can be further from the truth. Our liabilities exceed our assets by $42 billion and we have a need for more than $10 billion to invest in new delivery vehicles, package sortation equipment, and other deferred investments.
“We haven’t been making the retiree health benefit prefunding payments because we can’t,” Corbett added. “If legislation reduced the required retiree health benefit prefunding payment, it doesn’t provide us with any more cash to pay down our debt or put much needed capital into our
business. Only comprehensive postal legislation that includes a smarter delivery schedule, greater control over our personnel and benefit costs, and more flexibility in pricing and products will provide the necessary cash flows.”
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