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US Postal Service Reports Second Quarter 2018 Results

 
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Posted 05/22/2018   4:45 pm  Show Profile Bookmark this topic Add Walkman82 to your friends list Get a Link to this Message
"Net loss for the second quarter totaled $1.3 billion, compared to a net loss of $562 million for the same period last year."




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Posted 05/22/2018   5:07 pm  Show Profile Bookmark this reply Add txstamp to your friends list  Get a Link to this Reply
I can't decide if the USPO has been hurt more by the shift to the internet, third party shippers (UPS, etal) or just plain old mis-management.

Being the giant government bureaucracy that they are, there is just no way that they are able to re-make their business quickly and effectively for the modern era...

The one thing that they have going for them is our tax money. If that's to be considered good.
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Posted 05/22/2018   6:10 pm  Show Profile Bookmark this reply Add angore to your friends list  Get a Link to this Reply
The USPS has lots of challenges: labor costs and work rules, bureaucracy, Congress, mismanagement, declining first class mailings.
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Al
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Posted 05/22/2018   6:22 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
The biggest problem for the USPS is their pension and retiree health plan obligations. It is an enormous load that has buried them. 80 billion dollars in unfunded obligations.
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Posted 05/22/2018   6:57 pm  Show Profile Bookmark this reply Add Stampman2002 to your friends list  Get a Link to this Reply
My understanding is that the USPS gets NO funding from the Federal government and must make what it needs through sales of stamps and services. Since they became a quasi-governmental agency in 1971, that has been the problem.

There are some things which the government SHOULD do, and handling the mail is near the top of my list.
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Posted 05/22/2018   7:25 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Tax money is always the answer. Problem is the US is 20 trillion dollars in debt.
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Posted 05/22/2018   7:57 pm  Show Profile Bookmark this reply Add angore to your friends list  Get a Link to this Reply
USPS woes got worse when they were forced to prepay health care expenses.
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Al
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Posted 05/22/2018   8:00 pm  Show Profile Bookmark this reply Add kirks to your friends list  Get a Link to this Reply
I fail to see why you find this funny?
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Posted 05/22/2018   8:06 pm  Show Profile Check 51studebaker's eBay Listings Bookmark this reply Add 51studebaker to your friends list  Get a Link to this Reply
I have made a couple posts about the USPS 'ePacket' program. Here was one of them...

Quote:
Perhaps they will be able to get to the bottom of how Amazon has China and Hong Kong sellers who can ship parcels through USPS for less than the rest of us can mail a first class letter.

ePacket is a USPS program which gives some countries a deep discount for 'volume'. Frankly, I do not understand why a 'volume' principal applies to USPS. While it may be able to receive a container of parcels from off-shore, it still has to sort and distribute them through the entire USPS system. It is not like the entire container flows through the USPS system as one large shipment.

Even uglier, the ePacket discount is 'one-way'. This allows sellers in China and Hong Kong to dump bad products into USA with little worry that the product will ever be returned. The return postage often is 50% or more of the price paid for the product.

Washington has been 'looking into' the ePacket deal for years. In 2015 the USPS reported they lost $75 million thanks to ePacket (according to testimony of David Williams, inspector general of the USPS). He also reported that in 2012 USPS received 27 million ePackets and they lost an average of $1.10 on each one.


ePacket is still bleeding red badly. Hopefully this will be a part of the current trade discussions with China. There is also noise about USPS needing to address the discounts being handled to Amazon. But like all politics there is no telling what might come of it.
Don
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Posted 05/24/2018   09:25 am  Show Profile Bookmark this reply Add modernstamps to your friends list  Get a Link to this Reply
Last year the USPS had it's 11th straight year of losses.

https://www.pbs.org/newshour/nation...nancial-loss

I guess it is continuing.
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Posted 10/17/2018   5:35 pm  Show Profile Check revenuecollector's eBay Listings Bookmark this reply Add revenuecollector to your friends list  Get a Link to this Reply
There may be some movement forthcoming on the whole ePacket arrangement:

https://www.govexec.com/management/..._today_pm_nl

Apparently the current president and the USPS are on the same page on an issue for a change...
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