USPS Going broke by October 2011

[toyman]

It's not for profit because all the high pay going out to the employee's,it's time to remove the union and get all the people making the big bucks out of there.Put people in there that can do the job for half the pay,I know in the job market today they would be able to hand pick good people that take pride in a job done well and get rid of the ones that are there just for a check every two weeks and don't care about doing a good job.

[Hector]

i ran into a postal worker last week and he said they were going out of business soon.

If you mean out of business as in broke...then yes.

But out of business as in closing down shop?

No way, Jose.

The USPS is a different entity as opposed to something like Walmart.

The organization will be radically changed, yes...perhaps privatization.

But who else is going to deliver First Class Mail?

UPS, Fedex? No way in hell...their infrastructure is not set up to do that...it would take years and billions of dollars to establish a First Class mailing service.

The USPS delivered 170 billion pieces of mail in fiscal 2010.

You think both UPS and Fedex can handle that?

UPS delivers about 5 billion pieces a year, and Fedex a little over a billion.

Again, the USPS delivers a staggering 170 billion pieces...that's mainly due to its First Class Mail service.

First Class Mail is the key here...no other organization is remotely set up to handle that monumental monstrous task.

But I think we can all agree that something has to be done...the USPS keeps losing billions of the dollars every year.

[Hector]

That sucks! I think a lot of companies are using that as a loop whole these days to get out of paying benefits.

I think there should be a law created to protect the workers against this kind of scam.

The definition of part time should really be addressed. Part time to me should not be allowed to consist of a worker to be at the same place for two years. That is more like full time by my definition.

No, like Rallygirl said...the vast majority of Postal employees are unionized full-time workers...not part-time temporary workers.

USPS has 596,000 employees...second only to Walmart...but the difference ends there...while Walmart pays minimum wage (starting)...the average USPS salary is $51,000 a year.

That's seems to be one of the major issues on loss revenue...too many employees with high salaries.

That's why we are now seeing lots of part-time workers with much lower wages...and no benefits.

[Adam West]

The USPS is not partially privately owned. It is just partially self-sufficient by their revenue stream. There is probably an opportunity in here for a smart entrepreneur to jump in and take on some of the routes that USPS doesn't want as a subcontractor.

They'll figure out someday.