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Postmaster General

All articles tagged with #postmaster general

business23 days ago•3 min saved

USPS Faces Cash Crunch: A One-Year Countdown Without Congressional Aid

USPS Chief David Steiner warned lawmakers that without Congress raising borrowing authority or allowing higher stamp prices, the agency could run out of cash within about a year amid a long-term decline in mail volume and a potential loss of Amazon shipping volume. The agency has not posted a profit since 2006, recorded a $9 billion loss last year, and carries a $15 billion debt limit while continuing six-day universal delivery.

via Business Insider|

#amazon #business #cash-flow

business23 days ago•2 min saved

USPS Warns It Could Stop Delivering Mail in a Year Without Congress Action

USPS warns it could run out of money and may stop delivering mail within a year unless Congress intervenes, citing declining traditional mail revenue, six-day delivery mandates, and mounting losses. The Postmaster General says proposed options include reducing delivery days or raising prices, but legislative action is needed to avoid insolvency.

via WSB-TV|

#business #congress #financial-crisis

business8 months ago•4 min saved

New USPS Postmaster General Supports Agency's Independence and Stability

The new USPS Postmaster General, David Steiner, has stated he opposes privatizing the postal service and supports maintaining its current independent, self-financing structure, despite ongoing political and union concerns about potential privatization efforts.

via NPR|

#business #congress #mail-service

politics8 months ago•1 min saved

New US Postmaster General Steiner Assures Independence Amid Privatization Concerns

The new postmaster general, Steiner, downplays concerns about privatizing the USPS amid Trump's suggestions of a government takeover, emphasizing his commitment to the agency's role in democracy and the economy, despite criticism from postal unions and concerns over privatization risks.

via Politico|

#politics #postal-service #postmaster-general

politics2 years ago•3 min saved

"Congress Grills Postmaster General DeJoy Over USPS Mail Delays"

Postmaster General Louis DeJoy will testify before the U.S. Senate committee on Homeland Security and Governmental Affairs following scathing inspection reports revealing significant volumes of undelivered mail at processing centers. The reports highlight failures in Richmond, Va., Houston, Texas, and potentially Atlanta, Ga. DeJoy's reorganization plan, which includes consolidating mail processing into mega centers, has been criticized for causing mail delays and increasing costs. The Senate committee will also question other USPS officials, and President Biden has the authority to remove DeJoy from his position if there is good cause.

via The North Platte Bulletin|

#inspection-reports #mail-delays #politics

business2 years ago•3 min saved

USPS Chief DeJoy Vows to Cut Costs Amidst Mounting Financial Losses

The U.S. Postal Service reported a loss of $1.7 billion in the second quarter of this year, with revenue dropping by 1% and operating costs increasing by 10%. Postmaster General Louis DeJoy acknowledged the agency's financial challenges and pledged to accelerate reforms, including reducing work hours by closing facilities and eliminating inefficiencies. DeJoy attributed the losses to factors such as reduced advertising spending, inflation costs, and overpayment into the pension fund. He also mentioned plans to cut costs further, increase revenue through initiatives like higher mail rates, and invest in existing facilities and new electric vehicles. Despite setbacks, the Postal Service has eliminated $90 billion from projected 10-year losses through the passage of the Postal Service Reform Act.

via GovExec.com|

#business #cost-reduction #efficiency