Friday, November 12, 2010

Post Office Loses 8.5 Billion

The post office had an even larger loss than expected last year — $8.5 billion.
The agency said Friday it was in the red for 2010. Earlier estimates had put the loss at $6 billion to $7 billion.
It comes despite elimination of more than 100,000 jobs and other cutbacks over recent years.
The post office has seen a sharp decline in mail because of increased use of the Internet and the recession which cut advertising and other business mail.
For the year that ended Sept. 30, the post office had income of $67.1 billion, down $1 billion from the previous year. Expenses totaled $70 billion, a decline of about $400 million. It also was required to make a $5.5 billion payment for future retiree health benefits.

20 comments:

  1. driving from buildings cost drivers money. we are not in a rich world, like abba. we are commoners. When people get jobs working as drivers money is spent on gas. Gas creates driving ability. Workers like post office men and women go from buildings to others delivering materials. It is certaint they will lose objects, money, directions. This causes money to be lost more. Every driver reports to a ups post office building which brings in like gravity all incoming stuff. This stuff is given to the drivers to go out like stuff from blowing up stars to give to other people. this is central to atom theory. economy works like atoms. it gets and sends out, it gives and then takes. At some point it is errored by bad things called black holes. Money was lost because of false moves that added up.

    - Sam

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  2. just print up some MO Money and give it to the Pension fund...
    you don't want to piss off these people..they may go postal

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  3. Sam wtf are you talking about? Stop posting you're an imbecile

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  4. Sam, did you take your meds today?

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  5. Sam: Meth or Smack? Which is it you are hooked on.Ill take a guess Both!!.Imbecile.

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  6. Sam, you make a valid point. Thank you for your enlightening input.



    Go stand in line at the Post Office for some stamps and it will all make sense. If they moved any slower they would going backwards.

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  7. hahahahhahh lol sam ive had a few beers and i am reading this stuff ,gosh sam i am getting high just reading what yu wrot ,lets get this patented isnstant high just read my lolaby hahahahahahahahaahayou are atrip .okay seriously sam what this means is we are gonna be paying alot more for postage in the near future ,

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  8. gov institutions always lose money. bring on gov health care! lol

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  9. i get the point this Sam person wants to put in observation,but the paragraph needs restructuring.

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  10. cut 105,000 jobs since 2009..still lose money...wonder if pensions have some cost input, something needs to give. perhaps if people stopped being consumers and started saving alittle for their future and maybe alittle for retirement, maybe realize a day might come when pension promises grandious won't pan out fully and so be better prepared..course to stop spending would crash a consumer society..LOL
    this may get ugly...

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  11. Sam your really a shill for Ups arent you?

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  12. Where does the idea come from that a service to all americans and that employs many americans MUST make a profit?

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  13. The military costs a trillion $ .
    big business and the military industrial complex of Empire think the military serves them and that it is good business to waste that trillion $ every year by creating government deficits .
    The few billion the PO 'lost" is only a pittance in comparison.

    Because the bill for the dividends on the war bonds of the national debt (A.K.A. treasury bonds) has mounted up ,for that wars that have bankrupted america.
    Propagandist for private enterprise /corporate welfare bailouts recipients like to make a song and dance about government 'waste" of government revenues $ they are themselves are not collecting.
    This is government 'ineficiency" they say.

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  14. The military costs well under a trillion. If you remove the war from that budget the military costs about $400 billion. Welfare in all it's forms costs over a trillion. Welfare is a scam and needs to be ended. If you read the constitution the military is one of the very few things that our federal government is required to do. It is not coincidental that the total amount of debt since 1964 is equal to the total amount of welfare we have paid out over that same period. We have borrowed $14 trillion to give away to people who refuse to work. I say eliminate welfare and fire all the workers who work in the welfare offices. That will cut our debt to zero overnight.

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  15. As a former truck driver, I hauled mail for the
    USPS. They send out dozens of trucks, daily, from
    their 'postal hubs'. These trucks run from, say,
    Denver to Kansas City, every day, one trip out, one trip back the next day. Over and over, 6 days
    a week. Often, the trailers have maybe 2 to 4
    pallets of mail.....empty, otherwise. It is an
    unsustainable business model.

    I have great respect for UPS and FED EX, however, these companies do everything they can
    to keep costs in line and are surviving, even
    in today's depression...

    The Post Office hires only Affirmative Action
    idiots who wouldn't otherwise be qualified to
    sell apples on the street corner...the just sit
    around all day, don't want to lift a finger
    unless absolutely necessary, and ride out 20
    years, then collect their 150,000/year pension.

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  16. my point of observation is that for a government and its people to progress we cant depend on a system that works with ups & downs and that only a few benefit. our current forms of government are unsustainable and due to fail sooner or later.

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  17. So, with the mindset of the corporate welfare beneficiaries of the necessity of Empire wars against the third World peoples ,any criticism of militarism and the cost of the war economy to American Empire is immediately attacked in a song and dance diversion to a criticism of "welfare" jobs as the main thing that bankrupted America ,not militarism and corporate welfare for the bankster run finance sector of the money power.

    Ignoring the hidden costs of subsidies and job creation by government in the military
    industrial complex that supplies the military by cost plus contracts and other scams ,as in the old degenerated Soviet Union ,
    7.05 shows he can "count" just the same as the official figures of central planning departments in the Corporate State who count their budgets by only counting the strictly direct military costs .
    But not the wars and subsidies to the military industrial complex as 'defence" .
    This is said to be a constitutional necessity by claiming that the constitution supported ‘military” standing armies for foreign wars ,thus support for the “military” is confused with the constitutional need for government to provide for the national self defense against aggressors ,for the common good.
    The state militias and federal reserves get rolled into these foreign wars and into a Homelans security Dept and more costs of militarism can be hidden.
    yes ,The military costs officialy well under a trillion. acording to your counting. If you first remove the costs of wars war from that budget the military costs about $400 billion.
    Yeh, right!

    Just don’t count the wars and hidden subsidies of Corporate State central planning
    Military keynesianist spending is necessary right?
    While also jumping on this anti- welfare bandwagon ,7.05 presumably a now retired baby boomer, a former truck driver from the past easy employment good times for the USPS, who is no doubt getting his claimed “$150,000” a year welfare pension now, says:
    “The Post Office hires only Affirmative Action
    idiots who wouldn't otherwise be qualified to
    sell apples on the street corner.”
    So we can assume that this former USPS driver had the same qualifications to get his past job?
    But now feels his retirement pension is threatened by the cost of government deficits to pay for others also not qualified like himself to sell apples on a St. corner.

    And He also doesn’t want to talk about the cost of corporate welfare for Empire militarism
    Perhaps he/she has some of his own claimed “idiot” affirmative action $150,000 a year pension invested in the shares of military industrial complex and government war bonds. A.K.A. treasury bills?

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  18. If in the event most do not know, there was a time, not that far distant, the UPS would give priority hiring to the VETS, in otherwords, double dipping. I am not a majorly opposes to it but just a thought.

    I have been in industry for 45 of my 65 yrs., and bing a Mgr., if my finiancial numbers were like the UPS reporting, my A** would be out the door within miinutes of theses staggering loses.WTF?

    Either the system is run by MAJOR saps/idiots or criminals. Everyone talks about a bank holiday? Well, have a PO holiday, terminate the piss poor mgr's and staff accordingly.

    As far as the retirement package, I don't feel that the American people show be subsidizing their retirement. At an early age, I put money away and set up my own retirement and contributed to it as I hade the money.

    Why should I or any American be paying a pension to the PO's firemen, teachers, state workers and federal workers?

    It does not suprise me this country of ours is in the finiancial turd bowl it is!

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  19. some got rich and some did not .
    some Vets got double pensions and could afford set up a better private pension arrangement .
    One poster above apparently a "Whitey" complained about affimative actions for minorities , actualy letting 'idiots" get jobs with pension priviledges too.
    And ,Ah, ell off satisfied middle class says:


    'As far as the retirement package, I don't feel that the American people show be subsidizing their retirement. At an early age, I put money away and set up my own retirement and contributed to it as I had the money.
    "Why should I or any American be paying a pension to the PO's firemen, teachers, state workers and federal workers?
    Well perhaps because ,they paid their taxes and social security deductions as best they could as perhaps they did not "have the money" to afford a private pension.
    Now just what subsidies and tax consessions from government did your own private pension recieve over the past many years?

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  20. all they do is lose mail, I hope they go bankrupt like this whole lousy greedy country

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