4 ms·
1.) http://fortune.com/2017/12/29/trump-amazon-post-office/ http://fortune.com/2017/12/29/trump-amazon-post-office/ 2.) http://fortune.com/2015/03/27/us-postal-
by ethanwillis 9y ago
1.) http://fortune.com/2017/12/29/trump-amazon-post-office/ http://fortune.com/2017/12/29/trump-amazon-post-office/
2.) http://fortune.com/2015/03/27/us-postal-service/ http://fortune.com/2015/03/27/us-postal-service/
3.) http://www.govexec.com/management/2017/09/usps-defaults-billions-mandatory-payments-despite-scheduled-relief/141404/ http://www.govexec.com/management/2017/09/usps-defaults-bill...
- "He estimated at the time that Amazon pays the USPS $2 per package, which is about half what it would pay United Parcel Service (UPS, +1.95%) and Fedex" [1]
- "The Postal Service reported a net loss of $2.1 billion in the third quarter of 2017, and has $15 billion in outstanding debt. The service has lost $62 billion over the last decade." [1]
- "USPS’s chief financial officer, Joseph Corbett, wrote in a post for PostalReporter.com in August that the service is required by law to charge retailers at least enough to cover its delivery costs. ... He said Congress should pass provisions of legislation introduced last year by former Representative Jason Chaffetz, a Utah Republican, that would allow the postal service to raise some rates and discontinue direct delivery to business customers’ doors." [1]
- "The Postal Service, writes Shapiro, “can borrow from the U.S. Treasury through the Federal Financing Bank, at highly-subsidized interest rates.” It currently borrows the legal limit of $15.2 billion at a rate of 1.2%. Without this access, it would be paying somewhere between $415 million and $490 million per year more in interest." [2]
- "The worst of it came in 2012, when the USPS lost a whopping $15.9 billion dollars, followed by $4.8 billion and $5.3 billion in 2013 and 2014, respectively." [2]
- "From 2012 through 2016, the agency failed to deliver nearly $34 billion toward its pool for retirees’ health care." [3]
- "“Given that the Postal Service is now unable to pay money it owes to the federal retirement system and to the retiree health care system,” Cummings said, “it is more urgent than ever that Congress take action to ensure that the Postal Service continues to be able to serve the American people.”" [3]