GAO: USPS Facing ‘Critical Shortage of Liquidity’
According to a new GAO report, the Postal Service now faces a “critical shortage of liquidity that threatens its financial solvency and ability to finance needed capital investment.”
According to a new GAO report, the Postal Service now faces a “critical shortage of liquidity that threatens its financial solvency and ability to finance needed capital investment.”
The Postal Service announced that it ended the first quarter of its fiscal year with a net loss of $1.3 billion.
Two Postal Service unions are unhappy about the Postal Service’s decision to eliminate Saturday mail delivery with one even going so far as to call for the Postmaster General’s dismissal.
The U.S. Postal Service saved more than $52 million in 2012 by reducing energy, water, consumables, petroleum fuel use and solid waste to landfills, and generated nearly $24 million in revenue by recycling. Together, these actions to save costs and generate revenue surpassed $76 million.
Postal employees represented by the American Postal Workers Union are about to get their first pay increase in three years.
Just how bad are the Postal Service’s losses? According to a real-time loss counter on Senator Tom Carper’s (D-DE) Web site, they are mounting by the thousands every second and amount to $25 million per day.
Boyle Station Letter Carrier Sadao Nakasone achieved 50 years of service with the Postal Service.
Capitola Letter Carrier Cris Mariani delivers mail every day to her customers and she keeps a look out for everyone on her route. When one of her elderly customers did not pick up her mail for two days, Mariani sensed something was awry.
Rep. Kathy Hochul (D-NY) has introduced legislation to limit pay of executive officers of the Postal Service to the same level of pay as members of the President’s Cabinet.
Which Postal Service employees make the most money and where do they work? Here is the answer in data retrieved from FedsDataCenter.com.