Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

11/15/2013 (1 year ago)

Catholic Online (www.catholic.org)

Figure is still an improvement over 2012's figures

The United States Postal Service, or USPS reported a fiscal-year loss of $5 billion over the past 12 months. While that seems like an astronomical sum for money, it's actually far narrower than the $16 billion loss it posted in 2012.

In another dent on the agency's coffers, first-class mail, or stamped mail, its most profitable product, fell by 2.8 billion pieces in 2013.

In another dent on the agency's coffers, first-class mail, or stamped mail, its most profitable product, fell by 2.8 billion pieces in 2013.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

11/15/2013 (1 year ago)

Published in Business & Economics

Keywords: united States Postal Service, stmaps, Internet, deficit


LOS ANGELES, CA (Catholic Online) - The agency says that while its 2013 fiscal-year loss narrowed from nearly $16 billion in the prior year, it's the seventh straight year the agency has reported a net loss.

The federal agency did say it has benefited from growth in its shipping and packages business. In addition, an aggressive cost-cutting which included a drastic reduction in employee hours led to the lesser deficit.

AFTER THE UNSPEAKABLE, WE SPEAK HOPE. Support Catholic Online's response to Typhoon Haiyan in the Philippines. DONATE NOW ...

While the Internet has been blamed for "snail mail's" downfall, package services have remained a promising business as more people shop online and need carriers to deliver the goods. Package volumes grew by 210 million pieces this year.

The Postal Service has since announced a potentially lucrative partnership with online retail giant Amazon.com Inc. The two will be working to deliver packages on Sundays in larger cities such as New York and San Francisco.

Fin a further attempt to put a positive spin on things, for the first time since 2008 operating revenues rose. The USPS said that figures raised to $66 billion from $65.2 billion last year.

There was no denying that this was the seventh consecutive year of overall USPS losses as first-class mail volumes feel. The majority of Americans prefer communicating and paying bills electronically.

In another dent on the agency's coffers, first-class mail, or stamped mail, its most profitable product, fell by 2.8 billion pieces in 2013.

The USPS is also struggling to make massive payments into its future retirees' healthcare fund, which was mandated by Congress in 2006.

Seeking legislative relief from the healthcare pre-funding mandate, the USPS has also sought flexibility to innovate and find other ways to raise revenues. The "magic wand" for this crisis has yet to appear.

With few days left on the U.S. Congressional calendar, it was unlikely any bills addressing USPS issues will pass by year's end.

A birth foretold: click here to learn more!

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for December 2014
Christmas, hope for humanity:
That the birth of the Redeemer may bring peace and hope to all people of good will.
Parents: That parents may be true evangelizers, passing on to their children the precious gift of faith.



Comments


More Business & Economics

OPEC's bust is America's boom! Why cheap oil is a friend to America Watch

Image of Falling oil prices have caused a great deal of pain among OPEC countries, but the group won't cut production until three months after oil drops below $40 a barrel.

By Matt Waterson (NEWS CONSORTIUM)

The price of a barrel of oil continues to plunge, bringing with it an economic boon to motorists and headaches and potential layoffs to oil producers in the U.S. and around the world. LOS ANGELES, CA (Catholic Online) - Currently the price of a barrel of oil is ... continue reading


Is OPEC over and done with? Bank of America makes startling predictions Watch

Image of OPEC is

By Catholic Online (NEWS CONSORTIUM)

According to Bank of America, the OPEC oil cartel no longer exists in any meaningful sense. Furthermore, crude prices will drop to $50 a barrel over the coming months. This might mean relief at the pump - but this isn't necessarily a good thing, officials warn. ... continue reading


Sears no longer where America shops: 235 stores to close shortly Watch

Image of Analysts called the move a step in the right direction for the company, which has been tapping into its real estate in creative ways to compensate for downward-spiraling sales.

By Troy Dredge, Catholic Online

Few retailers are as American as Sears, one of its former and most popular taglines being "Where America Shops." That's no longer the case, as Wal-Mart has long seized that throne. It was a heavy heart that Sears announced that 235 under-performing stores would ... continue reading


36-year-low: Labor participation in the U.S. lowest since 1978 Watch

Image of The year 1978 was marked by the non-ironic use of disco music by Americans who blasted it on the radio to shake their groove things.

By Troy Dredge, Catholic Online

The year 1978 was marked by the non-ironic use of disco music by Americans who blasted it on the radio to shake their groove things. Another, far less nostalgic reminder of the year has been offered up by the Bureau of Labor Statistics: The labor force ... continue reading


Reflects very badly on U.S.: China is now world's largest economy Watch

Image of How did this happen? As recently as 2000, we produced nearly three times as much as the Chinese.

By Troy Dredge, Catholic Online

In the great car rental war that was between Hertz and Avis back in the 1960s, Avis took pride in the fact that they were behind Hertz with the saying: "We're Number Two - so we try harder!" It seems like the United States didn't try hard enough, as for the ... continue reading


Falling oil prices have helped the U.S. economy and revitalized the spending power of the American consumer Watch

Image of The continuing decline in the price of crude oil has brought numerous benefits to the American consumer and the U.S. economy.

By Catholic Online (NEWS CONSORTIUM)

The recent plummet of oil prices have drained hundreds of billions of dollars from oil-rich exporters and oil companies but has injected a critically needed boost to the faltering economies in Europe and parts of Asia, but more directly to the American consumer, ... continue reading


Internet retail giant Amazon switches to a ROBOT workforce of thousands Watch

Image of Before anyone accuses Amazon of laying off human workers in order to facilitate automation, it must be noted that the company is opening more shipping centers and hiring 80,000 seasonal workers.

By Catholic Online (NEWS CONSORTIUM)

Internet retail giant Amazon.com Inc. is handling "Cyber Monday" - the online shopping rush that usually occurs on the Monday following the Thanksgiving weekend - all in stride. Anticipating a new influx of customers, Amazon has upgraded and expanded its ... continue reading


Is Apple about to hit $1 trillion? Not if Google has anything to say about it Watch

Image of While Apple dominates the smartphone market, some suspect that its heavy reliance on products will lead to its downfall to companies who offer more services and software.

By Catholic Online (NEWS CONSORTIUM)

Silicon Valley tech giant Apple may one day be worth more than a trillion. Just for a second think about how massive that is. LOS ANGELES, CA (Catholic Online) - The maker of mac computers, iPods, iPhones and more is already worth more than $670 billion, and has a $260 ... continue reading


Feet on the desk - more and more Americans simply don't want to work anymore Watch

Image of Pew Research says that 39 percent of 16 to 24-year-olds don't want to work, up a substantial amount from 29 percent in 2000.

By Catholic Online (NEWS CONSORTIUM)

Nearly four in 10 Americans, or 92 million, are not in the labor force. Many are unemployed for no fault of their own. Many others have simply stopped looking for work. Why? The reasons are complex. LOS ANGELES, CA (Catholic Online) - The largest group of people ... continue reading


REAL INCOME INEQUITY: 85 richest people now have as much money as poorest 3.5 billion Watch

Image of Billionaire investor Warren Buffett remarked more than three years ago that

By Catholic Online (NEWS CONSORTIUM)

The very rich and the very poor just grew further apart. According to Oxfam, the broadening chasm between wealth and poverty has grown so wide that the 85 richest billionaires on the planet, such as Carlos Slim, Bill Gates and Mark Zuckerberg now have as much ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Saint of the Day

Saint of the Day for December 18th, 2014 Image

St. Rufus
December 18: Rufus and Zosimus were citizens of Antioch (or perhaps Philippi) ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter