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Search Tags: USPS
The U.S. Postal Service said Friday it lost $1.9 billion over the last three months and warned that losses would continue to mount without help from Congress. The loss for the financial quarter ending March 31 was narrower than a $3.2 billion loss for the same period last year, thanks to slightly higher revenues and lower payments towards health benefits for workers who will retire in the future.
If Congress doesn't pass comprehensive postal reform legislation soon, it could find itself forced to bail out the financially troubled U.S. Postal Service to the tune of billions of dollars, said Postmaster General Pat Donahoe. The postmaster general said in a speech at the National Press Club he's optimistic Congress will pass postal reform legislation this year.
Postmaster General Pat Donahoe told the House Oversight and Government Reform Committee Wednesday that the Postal Service is operating under a "broken business model." But cost-saving efforts, such as ending Saturday delivery and modifying a multibillion dollar requirement to prefund future retirees health care costs, garnered little agreement among lawmakers.
The U.S. Postal Service has reversed its decision to end Saturday mail delivery service, saying Congress gave it no choice when it passed a 2013 appropriations bill last month that continued a ban on five-day delivery.
Federal Employee Education and Assistance Fund Executive Director Steve Bauer, and Sean Reilly from the Federal Times, will discuss furloughs, and their impact on feds.
April 3, 2013
Bryan Jones, the director of the Counter Measures and Performance Evaluation (CAPE) team in the U.S. Postal Service's Office of the Inspector General, said the development of a dashboard to help investigators visualize data more easily helped overcome initial resistance to these kinds of tools.
March 28, 2013
AFGE's J. David Cox, and Federal Times Senior Writer Sean Reilly will talk about the impact of sequestration and the possiblity that federal workers will be furloughed.
March 27, 2013
The cash-strapped U.S. Postal Service announced last month it would end Saturday delivery of first-class mail. But a new legal decision from the Government Accountability Office seemed to offer more questions than answers.
The House voted today to approve a measure to fund federal agencies through the remainder of fiscal 2013. The bill averts a government shutdown but extends the freeze on federal employees' pay through the end of 2013. The bill now heads to President Barack Obama for his signature.
Real reform for the U.S. Postal Service may be gaining some steam in Congress. Rep. Blake Farenthold (R-Texas), the new chairman of the House subcommittee that oversees the Postal Service, tells Federal News Radio, House leadership sees room for compromise with Democrats when it comes to figuring out ways to get USPS back in the black. Farenthold supports the Postal Service's plan to eliminate Saturday mail delivery.