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OT: Post Office reports record loss of 15.9 BILLION this year.

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In reply to an earlier post on Nov 15, 2012 9:32:14 PM PST
Last edited by the author on Nov 15, 2012 9:48:42 PM PST
Anthony says:
UPS, FedEx, USPS, they all suck.

Posted on Nov 15, 2012 10:05:29 PM PST
Last edited by the author on Nov 15, 2012 10:06:27 PM PST
Modern Bear says:
$20 an hour is not that great for pay in 2012. That would only be 41,600 a year if you worked 40 hours a week with no overtime, which is lower than median income. It's the benefits that really rock for postal employees. But even that is not the only problem with their finances. There is a lot of waste on services that are not needed that the Post Office has not been able to trim because Congress won't let them. They have had trouble closing redundant branches (two branches a few blocks from each other for example) because some Congressman blocks it, although they've made some progress on this in recent years. They've been wanting to cut back to 5 days a week delivery but have not been able to. Would anyone really care if Saturday delivery went away?

It would probably be better if the Post Office went completely independent of government control and oversight so they can make the changes necessary to stay in business but that's not going to happen. Any suggestion of such will bring all the government control freaks out of the woodwork, and they'll demagogue the issue to death with predictions of the universe exploding because something is fully privatized.

In reply to an earlier post on Nov 15, 2012 10:24:46 PM PST
And they call it 'Going Postal' for a reason. They have hard jobs for the most part IMO...I know I wouldn't want to be delivering GTA V to the roughest ghettos for anything less than $20/hour...

In reply to an earlier post on Nov 15, 2012 10:57:49 PM PST
Jawwaad says:
"$20 an hour is not that great for pay in 2012"

$40K a year is pretty damn good in my opinion as a starting salary to deliver mail.

In reply to an earlier post on Nov 15, 2012 11:07:23 PM PST
Last edited by the author on Nov 15, 2012 11:09:11 PM PST
Modern Bear says:
That is still 10k below the median income for the United States, so it's really not that good of pay. It's not an easy job either. They have to walk a heck of a lot, all day long, in all types of weather. They have to worry about being robbed by some nutcase (it does happen), attacked by dogs, hit by a car, or any number of things that can happen when delivering mail to some places that may not be the best environment for walking around. I would bet they get sick or hurt quite frequently.

Don't blame the workers for the Post Office's problems. It's gross mismanagement by Congress that has caused their issues. This tends to be the case in nearly every single instance when you put politicians in charge of something. You get incredible amounts of waste, bad decisions that make no sense, and a refusal to change things for the better because that might be admitting they were wrong, which simply cannot happen.

I would hate having the job of Postmaster General. He knows the problems they face, has ideas on how to fix it, but has no power to do anything about it.

In reply to an earlier post on Nov 15, 2012 11:25:37 PM PST
Last edited by the author on Nov 15, 2012 11:27:43 PM PST
Jawwaad says:
We might just come from 2 different worlds Bear because $40K a year is a lot where I'm from. I know many construction workers, HVAC workers, and other intense labor workers who don't start out at that much money a year. I don't really think it is as hard as some make it out to be. Although you posed some incidents where they might have a chance to get hurt, I don't think that is the norm as I see construction workers and others getting hurt on a more frequent basis, plus working harder for far less pay.

Posted on Nov 16, 2012 4:14:45 PM PST

Despite nearly $16 billion in annual losses announced by the U.S. Postal Service on Thursday, all but one of the top five executives for the nation's mail service had an overall compensation increase this year, records show.

Unlike past years, when the Postal Service's politically appointed, bipartisan board of governors awarded executives lucrative deferred compensation deals and incentive bonuses, this year's compensation increases came mostly in the form of pension plan earnings.

Postmaster General Patrick Donahoe , for instance, earned a base salary of $276,840, but even without a bonus or incentive payout, his overall compensation came to $512,093, compared with $384,229 in 2011, according to regulatory filings.

Fueling the rise was the fact that his retirement account grew by $186,536. A 37-year employee of the Postal Service, Mr. Donahoe was paid $4.76 per hour during his first job as a postal clerk.

Meanwhile, two other executives - Ellis Burgoyne , chief information officer, and Mary Anne Gibbons, general counsel - also received hefty increases in their retirement plans.

In fact, Mr. Burgoyne 's retirement plan grew by more than $270,000, bringing his total compensation to $510,505, slightly less than Mr. Donahoe `s.

Compensation for Joseph Corbett , the Postal Service's chief financial officer, rose from $310,483 in 2011 to $315,841 last year, though he earned more than $330,000 in 2010.

In addition, the Postal Service's chief human resources officer, Anthony J. Vegilante, received $60,000 in retention bonuses for fiscal 2011 and 2012 on top of his $240,000 annual salary, filings show. Nonetheless, Mr. Vegilante's overall compensation for 2012 dipped to $363,002, compared with $364,667 the previous year.

A sixth postal executive, acting Chief Financial Officer and Executive Vice President Stephen Masse, was not subject to compensation reporting requirements until this year, and he earned $222,919 overall.

Dave Partenheimer , a Postal Service spokesman, said the organization has more than a half-million workers and operates more than 32,000 locations. He said postal executive compensation lags compared with private-sector corporations.

"As we continue to adjust to a changing business environment, it's important that we recruit and retain the forward-thinking leadership we need to continue to remain viable," he said. "Compensation is important to that equation."

Unlike most private companies, however, the Postal Service has borrowed billions of dollars from the U.S. Treasury and has a legal monopoly over first-class mail service.

Total compensation for top postal executives is capped at $276,840, based on a rule that executives can't earn more than 120 percent of the salary of the vice president of the United States. But the board of governors, which approves executive compensation for the Postal Service, can authorize hundreds of thousands of dollars in deferred compensation payments.

The Washington Times reported last year, for instance, that retired Postmaster General John E. Potter, now chief executive of the Metropolitan Washington Airports Authority, was still owed more than $800,000 in deferred compensation payments with payouts scheduled over a decade.

In an annual financial report released Thursday, the board noted that no performance awards would be paid in 2012 because of the Postal Service's "dire financial condition."

In reply to an earlier post on Nov 16, 2012 4:21:39 PM PST
RJMacReady says:
I tend to be liberal, but I see no reason why they couldn't privatize the post office. There already are private shipping companies like UPS. Let them take over the mail business completely.

In reply to an earlier post on Nov 16, 2012 4:23:41 PM PST
RJMacReady says:
They retire young, too, don't they?

In reply to an earlier post on Nov 16, 2012 4:24:59 PM PST
RJMacReady says:
Yeah. That's what they START you at. For a job that doesn't require a degree.

Posted on Nov 16, 2012 4:31:07 PM PST
[Deleted by the author on Nov 16, 2012 4:31:46 PM PST]

In reply to an earlier post on Nov 16, 2012 4:53:52 PM PST
Anthony says:
i want those jobs.
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Discussion in:  Video Games forum
Participants:  20
Total posts:  37
Initial post:  Nov 15, 2012
Latest post:  Nov 16, 2012

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