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TOP NEWS STORIES |
Bloomberg: The U.S. Postal Service Nears Collapse
Delivery of first-class mail is falling at a staggering rate.
Facing insolvency, can the USPS reinvent itself like European
services have -- or will it implode?
"The
implosion could happen this year because of the stalemate in
D.C. Maybe that's what it will take for Americans to get a
modern mail service. Even Donahoe, who advocates something
less, sounds as if he would welcome it because there's no
other way out. "Some people say if you crash the system," he
says, "then people will pay attention to you." -
The End of Mail - A Picture Says it All
- Is Email Killing the Post Office?
- The Post Office Is About To Go Bust -
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What does Postal Service-APWU contract mean for other postal
unions?
"We
expect to see the same type of framework in those contracts
that we've been able to negotiate with the APWU," Donahoe
said. Asked later if Donahoe sees a similar wage fork as part
of that framework, USPS spokesman Mark Saunders said only that
"we're looking into negotiating contracts that are in the best
interests of our customers, our employees and the future
flexibility of the Postal Service." -
New Labor Contract Saves $3.8 Billion -
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Senate Hearing:
PMG Seeks Pre-Funding Relief, Five-Day Delivery
PMG
Donahoe warned of a dire scenario if Congress fails to enact
measures in FY 2011, a scenario that includes defaults on
payments to the Federal government, not making payroll, and
the mail delivery system grinding to a halt. -
Postal Service Faces Financial Shortfall
Unless Congress Addresses Mandates -
Sen. Carper Introduces Comprehensive Postal
Service Act - Lawmaker proposes fixes to
ease USPS fiscal crisis -
Postal Service threatens again not to pay
retiree benefits -
APWU: Legislators Must Apply Pension
Overpayments to Pre-funding Bill -
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Michigan: Five
USPS Supervisors Indicted for Taking Bribes
"Five
indictments were issued by a federal grand
jury in Detroit, separately charging five U.S. Postal
Service supervisors with conspiring with a private
contractor to take bribes in exchange for directing over
$13 million in maintenance work on Postal Service
vehicles to a private contractor in Ohio and Michigan,
United States Attorney Barbara L. McQuade announced."
- Charges don't stop USPS contractor -
Postal manager accused in bribe scam
shot in '93 Dearborn postal rampage (some say he provoked it) -
Postal Playboys (Prostitutes, Levitra) -
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APWU: Union Members Ratify Contract
"APWU
members approved a new contract May 11, with more than 75
percent of those casting ballots voting in favor of
ratification. The final tally was 69,451 to 22,351 in
balloting that ended May 10. The agreement will expire May 20,
2015. "The new contract is an important achievement for the
APWU," said President Cliff Guffey. "We were able to retain
protection against layoffs, bring back thousands of jobs in
each craft, and limit excessing." -
Postal workers ratify contract with 3.5 percent raise -
Union members ratify USPS cost-cutting wage deal -
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Postal Service Loss Widens as Mail Volumes Fall
"The
U.S. Postal Service, which says it will be insolvent by
September without congressional permission to delay a required
payment, reported a widening second-quarter loss as
first-class mail volume declined. The loss expanded to $2.6
billion in the three months ended March 31 from $1.9 billion a
year earlier, Louis Giuliano, the chairman of the Postal
Service's board, said today at a meeting in Washington.
Revenue declined 2.8 percent to $34.1 billion. First-class
mail volume fell 7.6 percent." - USPS
reports $2.2 billion loss - USPS Loss
Widens in Second Quarter - USPS Report on
Financial Performance - USPS losses
continue to spiral in "sluggish" US economy -
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USPS has work to do as postal reform returns to US Senate
"The
Deputy Postmaster General of the United States said yesterday
he was "cautiously optimistic" that Congress will act to
respond to US Postal Service budget problems. Ron Stroman told
the National Postal Forum he was under no illusions about
success, and that it was going to be a "tough challenge" to
get the required legislation enacted before the USPS runs out
of cash in September." -
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