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peaceandlove · 03-29-2009, 11:42 AM

Post #19 Nation/world news briefs: U.S. Postal service weighs 5-day delivery 3/2/2010

Post #18 Postal Service Offers Employees Buyouts to Quit 1/12/2010
Post #17 USPS May Be Unable to Make Payroll in October and Retiree Health Plan Costs, Unions' Letter to White House Says 7/19/2009
Post #16 The Doctrine of Preemptive Bailouts and the Biggest Bailout you haven’t Heard about: The U.S. Treasury Plan C and the $3.5 Trillion You will be Paying.
Post #14 Post office cited by GAO as a troubled agency 7/28/2009
Post #9 U.S. government to buy 17,600 American-made autos 4/20/2009
Post #8 U.S. to Offer Aid to Life Insurers 4/8/2009
Post #7 The 'UNINTENDED' Bailout 4/2/2009
Post #4 Mainstream Media Bailout Bill Introduced 3/28/2009

Postal Chief Says Post Office Running Out of Money

Last week, the post office said it planned to offer early retirement to 150,000 workers and is eliminating 1,400 management positions and closing six of its 80 district offices in cost-cutting efforts. Potter said he expects 10,000 to 15,000 workers to accept the early retirement offer.

Mar 25 02:09 PM US/Eastern

WASHINGTON (AP) - The post office will run out of money this year unless it gets help, Postmaster General John Potter told Congress on Wednesday as he sought permission to cut delivery to five days a week.

"We are facing losses of historic proportion. Our situation is critical," Potter told a House panel.

The agency lost $2.8 billion last year and is looking at much larger losses this year. Reducing mail delivery from six days to five days a week could save $3.5 billion annually, Potter said.

Potter also urged changes in how the post office pre-pays for retiree health care to cut its annual costs by $2 billion.

If the Postal Service does run out of money, the lingering question, Potter told the House Oversight post office subcommittee, is which bills will be paid and which will not. Ensuring the payment of workers' salaries comes first, he said, but other bills may have to wait.

Article continues: http://www.breitbart.com/article.php...show_article=1

03-29-2009, 11:42 AM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Another Bailout Looming on the Horizon? Post #19 Nation/world news briefs: U.S. Postal service weighs 5-day delivery 3/2/2010 Post #18 Postal Service Offers Employees Buyouts to Quit 1/12/2010 Post #17 USPS May Be Unable to Make Payroll in October and Retiree Health Plan Costs, Unions' Letter to White House Says 7/19/2009 Post #16 The Doctrine of Preemptive Bailouts and the Biggest Bailout you haven’t Heard about: The U.S. Treasury Plan C and the $3.5 Trillion You will be Paying. Post #14 Post office cited by GAO as a troubled agency 7/28/2009 Post #9 U.S. government to buy 17,600 American-made autos 4/20/2009 Post #8 U.S. to Offer Aid to Life Insurers 4/8/2009 Post #7 The 'UNINTENDED' Bailout 4/2/2009 Post #4 Mainstream Media Bailout Bill Introduced 3/28/2009 Postal Chief Says Post Office Running Out of Money Last week, the post office said it planned to offer early retirement to 150,000 workers and is eliminating 1,400 management positions and closing six of its 80 district offices in cost-cutting efforts. Potter said he expects 10,000 to 15,000 workers to accept the early retirement offer. Mar 25 02:09 PM US/Eastern WASHINGTON (AP) - The post office will run out of money this year unless it gets help, Postmaster General John Potter told Congress on Wednesday as he sought permission to cut delivery to five days a week. "We are facing losses of historic proportion. Our situation is critical," Potter told a House panel. The agency lost $2.8 billion last year and is looking at much larger losses this year. Reducing mail delivery from six days to five days a week could save $3.5 billion annually, Potter said. Potter also urged changes in how the post office pre-pays for retiree health care to cut its annual costs by $2 billion. If the Postal Service does run out of money, the lingering question, Potter told the House Oversight post office subcommittee, is which bills will be paid and which will not. Ensuring the payment of workers' salaries comes first, he said, but other bills may have to wait. Article continues: http://www.breitbart.com/article.php...show_article=1 Last edited by peaceandlove; 03-03-2010 at 11:37 PM.