Here’s How The Post Office Lost $5 Billion In 2011 (And Will Lose Almost Three Times That Next Year)

mail truck

[credit provider=”Morristechnology.com”]

The United States Postal Service lost $5.1 billion in the fiscal year that ended in October, and is on track to lose $14.1 billion this year.Total 2011 mail volume declined by 3 billion pieces, or 1.7 per cent, from 2010, according to a report from postal service CFO Joe Corbett to the agency’s board of governors.

Other 2011 financial results include:

  • Operating revenue of $65.7 billion compared to $67.1 billion the year before
  • Operating expenses of $70.6 billion compared to $75.4 in 2010
  • The retiree health benefit pre-funding payment postponed by Congress and the President is now due by Nov. 18. Unless additional legislation is enacted, the Postal Service will be forced to default on this payment.

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permalink=”the-2011-loss-was-actually-106-billion-when-you-include-the-deferred-retiree-benefits-1″
title=”The 2011 loss was actually $10.6 billion when you include the deferred retiree benefits:”
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permalink=”first-class-mail-revenue-is-down-because-more-people-are-using-email-for-letters-and-bills-2″
title=”First Class mail revenue is down because more people are using email for letters and bills.”
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[slide
permalink=”fuel-prices-and-benefits-brought-expenses-up-slightly-in-2011-3″
title=”Fuel prices and benefits brought expenses up slightly in 2011:”
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[slide
permalink=”the-post-office-cut-workhours-in-an-attempt-to-wring-out-as-much-waste-as-possible-4″
title=”The Post Office cut workhours in an attempt to wring out as much waste as possible:”
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[slide
permalink=”and-total-productivity-increased-5″
title=”And total productivity increased”
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[slide
permalink=”but-that-did-little-to-stem-the-financial-problems-6″
title=”But that did little to stem the financial problems:”
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[slide
permalink=”for-2012-the-outlook-is-much-much-worse-7″
title=”For 2012, the outlook is much, much worse:”
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[slide
permalink=”the-economy-isnt-growing-fast-enough-to-grow-mail-volume-8″
title=”The economy isn’t growing fast enough to grow mail volume:”
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[slide
permalink=”the-post-office-will-have-to-pay-the-55-billion-for-retirees-deferred-from-2011-in-addition-to-benefits-for-2012–bringing-total-projected-losses-to-141-billion-9″
title=”The Post Office will have to pay the $5.5 billion for retirees deferred from 2011, in addition to benefits for 2012 — bringing total projected losses to $14.1 billion:”
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[slide
permalink=”packages-are-the-only-class-of-mail-expected-to-grow–as-more-people-shop-online-10″
title=”Packages are the only class of mail expected to grow – as more people shop online:”
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[slide
permalink=”the-post-office-wants-to-keep-cutting-employees-saving-25-billion-in-2012-11″
title=”The Post Office wants to keep cutting employees, saving $2.5 billion in 2012:”
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[slide
permalink=”but-unless-congress-acts–and-fast–the-post-office-may-not-make-it-through-the-year-12″
title=”But unless Congress acts — and fast — the Post Office may not make it through the year”
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[slide
permalink=”now-read-about-how-lawmakers-make-big-bucks-while-in-public-office-13″
title=”Now read about how lawmakers make big bucks while in public office:”
content=”BEYOND INSIDER TRADING: Here’s How Members Of Congress Get Rich Off Earmarks >
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