October 6, 2015

The truth about the Postal Service's finances

Alternet

5 comments:

Anonymous said...

If their lips are moving,,, they are lying.... From the article


That year, the Congress passed the Postal Accountability and Enhancement Act of 2006 (PAEA). Under the terms of PAEA, the USPS was forced to “prefund its future health care benefit payments to retirees for the next 75 years in an astonishing ten-year time span” – meaning that it had to put aside billions of dollars to pay for the health benefits of employees it hasn't even hired yet, something that “no other government or private corporation is required to do.”

As consumer advocate Ralph Nader noted in 2011, if “the prepayments required under PAEA were never enacted into law, the USPS would not have a net deficiency of nearly $20 billion, but

Anonymous said...

The Postal system is one of the few things that actually ties the nation together as a whole. Out of greed some elites want to do away with it for a few dollars made or saved, and the end result is making it easier for the nation to be divided and break apart.

The elite's on the payroll lackeys are so in line that neither they or the elites can see or say it, that their actions usually out of greed are causing the gradual demise of the nation as a undivided whole.

Another similar situation are the free trade agreements, if these destroy the national economy..... out of greed, so the elites can ship more money(wealth) out of the nation, this is a form of treason against the nation and the end result is a divided nation more prone to civil war and breaking apart.

Some of the elites or most of them will be cause of the conditions of the next civil war and the breaking apart of the USA,,,, if it happens, a fairly good chance it will looking at the rattlings in Texas etc... Out of greed.

LarryC said...

It is true Bush cannibalized the Postal Service to pay for his illegal war, but that’s not the only problem with Postal. Postal senior executives have been conniving for years how to privative Postal for their personal gain. Marvin Runyon was the first Postmaster General to give it a try. He was too old and died before he could do it. William Henderson was next. He, along with his buddies tried to sell of the Expedited Package Service as a private company so he and his friends could own stock and make a fortune but the USPS Board of Governors stopped that. Then came Patrick Dohanoe who teamed up with Congressional Republicans to try and privatize Postal under the pretense it was out of step and could not function in today’s market. Doublespeak for the thieves in congress were planning a huge payday for themselves by selling off Postal.

Postal’s problem is mismanagement. They have been plagued by incompetent inbreeding for decades. The problem went really bad in 1992 when PMG Marvin Runyon changed job titles from Postmaster General to Chief Executive and all the Associate PMG’s to Vice Presidents. They really started believing they were executives with executive competencies.

Here is a little known factoid. Postal executive bypass federal law prohibiting more than 18% of base pay compensation in a calendar year by putting the excess in escrow. When they retire, they all have a golden parachute. I personally know a low level executive who was only with Postal a little over 10 years, and he retired in 2014 with over $800K from his escrow account. The account is shielded from FOIA because only a few people at the finance data center in Eagan MN know about it. You want to clean up Postal; clean up the corruption on the inside, make the executives pay back what they took illegally. Another place to save is make the executive pay for their own hospital insurance. A Postal executive, no matter how long they’ve been there, will have their families hospital insurance paid for life! One other little piece of unknown trivia. Look at the under the table deals between Postal IT and Hewlett Packard, Deloitte, Accenture and Northrup Grumman. These four companies alone had sweet heart deals totaling more than half a billion dollars in 2013 alone. If you were on the inside and saw what they did for the money, you would quickly realize why Postal is going broke.

Don’t stop there. Look at the net worth of the executives who have retired and figure out where their money came from on the salary they were making.

This is why Postal is in debt.

Anonymous said...

Some elites don't want to be honest, they just want to privatize for profit this may causes individual and nation poverty and often this divides the nation and leads to revolution and civil wars. Enough examples in today's world of failed republics.

Other hot issues are gun control, immigration, free trade, many others etc,, often these are linked to elite greed or divide and rule operations. All of these issues can lead to revolution and civil war in time as local people are somewhat powerless before the elites in control at the federal level.

The shrill scream of terrorism from the top down, is reflected by the grim desire for self determination from the bottom up in many places of the world. For example in Syria, Assad calls his opponents terrorists. Right???

I hope the current mess in the middle east and much of the rest of the world does not come home to the western republics

Anonymous said...

To put it more simply, to have conditions as like most of the world of failed republics in the western republics and have economic and social collapse then this leads to civil wars, revolutions etc.

To scream top down "terrorism" at this point in time at the starving desperate masses is not a wise direction to work toward,,, right?