Filling in the Gaps: What the CFO didn't tell us...
"The loss so far in the fourth quarter is driven by a 4.7% decline in revenue, a 1.3% increase in expenses, and a $329 million workers compensation adjustment. Extrapolating this trend through September would result in a quarterly loss of $2.168 billion and a fiscal year loss of $3.326 billion." Courier, Express, and Postal Observer
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PMG tells employee organizations that USPS financial condition is poor, action by Congress needed
"Potter added that the Postal Service would need the help of the unions and associations in working with the Congress as the Postal Service attempts to develop solutions to our problems that will involve discussions and Congressional approval. Specific plans were not discussed at the meeting." National Association of Postal Supervisors
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USPS plans to install cancellers on AFSM 100's
"This modification will eventually replace all of the existing flat cancellation operations within the 010 operations nationwide." Mailhandlers' Union web site
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Postal Service offers early retirements - FederalTimes.com
"[USPS HR Chief Tony] Vegliante said paying employees to retire early isn’t an option. 'There’s absolutely not going to be an incentive,' he said. 'Economically it doesn’t make any sense at this point. It would cost us too much money, and right now we’re not in the position.'" Federal Times
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