LynnS Posted September 6, 2011 Share Posted September 6, 2011 My yahoo home page says the USPS is BROKE. If they don't make a payment of ? by such and such a date they will be possibly closing in the winter unless the US government steps in.Anyone else read this??? That was the first thing I opened with the latest news.LynnS Quote Link to comment Share on other sites More sharing options...
jluper7297 Posted September 6, 2011 Share Posted September 6, 2011 WTF? How are we going to get mail??? Of course that end that feeling of dread I get when I open my mailbox and there's nothing but bills in there. Quote Link to comment Share on other sites More sharing options...
JanetsCandles Posted September 6, 2011 Share Posted September 6, 2011 They have no current plans to close. USPS has been broke for quite some time. They're working on restructuring their retiree benefit payments and also possibly the number of days they will run. They are required by law to make that $5.5 billion payment, which according to CNN's version of the story is an overpayment. Congress is supposed to work on changing that. But that's a whole other kettle of fish right there. Quote Link to comment Share on other sites More sharing options...
NaturallyTru Posted September 6, 2011 Share Posted September 6, 2011 (edited) From our newspaper:"Despite facing $9 billion in losses this year, the U.S. Postal Service is paying out millions to thousands of workers doing nothing. However, the numbers are down from two years ago, The Washington Post reported.The payments are made under a labor agreement governing “standby time,” which prohibits layoffs or reassignments for employees during times when equipment is broken or there is low mail volume. Under the agreements, the workers must show up for work and spend their shift in a break room or cafeteria, the Post blog the Federal Eye reported.Standby time amounted to 170,666 hours in the first six months of 2011, according to a Postal Service Inspector General’s Office audit. The idle time cost $4.3 million. In 2009, 1.2 million hours were billed, costing $30.9 million, the Post reported. "Also, weren't they trying to get Saturday deliveries stopped a while ago? Wonder what happened with that.They already work with UPS (or is it FedX) to help deliver packages...seems to me that if they were to go under one of them would take on some of the other services. Edited September 6, 2011 by NaturallyTru Quote Link to comment Share on other sites More sharing options...
EricofAZ Posted September 7, 2011 Share Posted September 7, 2011 Part of the "broke" issue is not real dollars but pro-forma dollars. When USPS hires someone, they need to set aside and budget the medical and retirement. So that is what makes them broke on paper. It is probably a good idea to project out a future, but based on current dollars and current budget is probably not such a good idea. Quote Link to comment Share on other sites More sharing options...
annie123 Posted September 7, 2011 Share Posted September 7, 2011 From what I have hear USPS will default this Fall unless Congress steps in...I have nothing about people getting paid good wages and having medical and retirement but the quality of the service in my area goes from total incompetence to I couldn't care less so I think that USPS would greatly benefit from privatization. Quote Link to comment Share on other sites More sharing options...
beans Posted September 7, 2011 Share Posted September 7, 2011 Annie 123 please check your PM Quote Link to comment Share on other sites More sharing options...
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