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US Postal Service Asks Regulator For Permission To Slow Mail Speed (Even More); Sees Revenues Sliding
In yet another piece of news that somehow will be seen as largely bullish for risk, if not so bullish for the USPS's 600,000 thousand workers, we learn that the United States Postal Service, long on the verge of insolvency, has decided to take its already snail-pace speed... and make it even slower.
Per Bloomberg:
- U.S. POSTAL SERVICE ASKS REGULATOR FOR PERMISSION TO SLOW MAIL DELIVERY SPEED
- POSTAL SERVICE SEES $2.1 BILLION IN SAVINGS FROM CLOSING PLANTS
- SLOWING MAIL DELIVERY WOULD ALLOW FOR CLOSING PROCESSING PLANTS
- POSTAL SERVICE SEES $14B LESS REV. FROM 1ST-CLASS MAIL BY 2020
- U.S. POSTAL SERVICE COMMENTS IN STATEMENT
Note: "savings", means job cuts. Yet in some parallel universe the ISM's Nieves is telling those gullible enough to listen, that the sharply contracting ISm Services employment index will rebound in December, on something or another. And as a reminder in August we learned that "in an attempt to avoid bankruptcy, [the USPS] is now seeking to reduce its total overhead by 20%, or a whopping 120,000 workers (a number which would amount to roughly an increase of 0.1% in the national unemployment rate)." In other words, the can kicking for America's postmen is about over.
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I like the USPS. I send packages Priority and it is cheap and reliable, but I have already delivered Adobe PDFs of the docments anyway. Mail delivery service should be on Monday and Thursday.
Fuck you! Tuesdays and Fridays only, asshole.
Junker,
I assume you prefer Wednesdays and Saturdays. Thanks for the feedback.
the USPS will not go away..it is needed by HLS, FBI, all law agencies..
most likely outcome is HLS will pick up the tab and even run it.
The post office gets the rap with all the checks that were never in the mail to begin with. I use USPS all the time. Not every package needs to be there overnight. I think they should go into banking. They handle money all the time anyway, let them take utilities payments, handle personal accounts, provide the service of millions who are getting ripped off with those pre paid cards etc. Heck, why not small loans? like pay day lenders? They'll always know where you're at, they can find you. They have branches everywhere already. The market for small time banking is infested with shysters, time to change that.
How about Panda Mail.....Panda bitches are "in da mood" only three days a year....and the bitches make their bears beg for it every day ! SNAFU ! Monedas 2011 Comedy Jihad Cut Cost With Compassionate Genocide !
600,000 thousand? No wonder they need more cash.
600,000,000 workers is a LOT. ~200% the number of people in the US.
Worth mentioning is the comparison of government overreach and overpromising relating to current health reform law, promising "universal coverage".
In the beginning, US post office legislation promised "universal coverage" and put all the independent carriers out of business by legislated monopoly.
Government killed off the competition, then reduces services, raises prices and goes bankrupt. Same story over and over. It worked so well.
Now turn our health care over to government and watch the same train wreck of failed promises.
This is an opening for politicians to demonstrate "universal government" monopolies always fail. The US post office law shows us the future of the health law, and health care. There is no incentive to evolve and improve or be efficient. Just another government department choking on its own fat, and unable to serve the people, after putting all for profit businesses out of business.
I would rather see the members of the fed and congress meet the savings goal of 100% than the post office-- these folks aren't the problem with the over bloat of government as much as those who continue to destroy our economy from the top down.
Remind me again why the USPS needs to make money. Am I the only one who thinks that the last thing the US gov't needs is profit centers? (Yes, let's give them a surplus, because they're doing so very well with our taxes.) How about just essential funding (and no more) for essential services?
I had always understood that the USPS had two purposes:
Our toleration for the businessization of the USPS is a sure sign that we're slipping away from democracy. Does it really need saying that democracy isn't free? Do we really need reminding that it's good to pay for public services that benefit everyone?
They should unionize Netflix and make it part of the government also.
It seems like a lot of 'on disabilility' or 'paid leave' mailmen read ZH also. The service is great, we should be paid 2x what our work would get us in the real world.
Jews are criminally under represented in USPS ranks in violation of all norms of common respect for the opinions of mankind ! Don't fuck wit' my Netflix....new subscriber walkin' here ! How do I get season two of Alfred Hitchcock Presents ? Maybe embarrassing them on this influencial blog will get some results ! Monedas 2011 Comedy Jihad Kickin' One Liberal Butt At A Time ! Will you please hold your liberal butt while I kick it ?
With the economy imploding, of course the mail service is having problems. Especially with the pension to be 75 years funded. While a pension is fine, 75 years funded is extreme, and with higher fuel costs, and less of an ability to pass on the costs, needing congressional approval, plus less volume (or less of an increase), as President Camacho says, 'shit's bad'.
USPS packages are much faster than UPS/Fedex here.
The USPS has been hogtied and is being thrown to the wolves for the benefit of UPS/Fedex. Corporatacracy rears it's head again.
As said above in another light, canary in the coal mine.
USPS is being sacrificed FOR NO GOOD REASON. It's another screwjob for the people. That's it. (besides of course the workers laid off, where it's a much bigger screwjob).
All unnecessary, and we let the banksters do it to us....along with the captured legislative.
Benjamin Franklin is rolling in his grave. Another american tradition trashed for our imperial monetarist's scumbag world. Our country has just about abandoned everything that once made it great. Chalk up another one for the fascists. Even those that claim they are against all of the bankster shit, still are for alot of bankster shit. Wake up. You're being pissed on in more ways than you know. Check your cup.
Glass-Steagall
I hear that most other buggy whip manufacturers are having the same problems for the same reasons.
I WANT TO OPT OUT OF THE MAIL!
I do a lot of business throught the mail, and I don't know what you guys are talking about with mail delays. Priority mail is cheap and fast, I can get a small package coast-to-coast in 3-4 days for $6. I've also found that the USPS will actually pay up for insurance claims, unlike my experiences with FEDEX or UPS, whose company policy is to stonewall all claims until you get a lawyer.