Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

11/15/2013 (8 months 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 (8 months 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 July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Business & Economics

HAIL BRITANIA! Britain declared fastest growing economy in developed world Watch

Image of Britain is now

By CNA/EWTN News

There will always be an England, as the old song goes. While the United Kingdom has experienced highs and lows, it's always recovered - and prospered. This was born out by the recent news that Britain will be the best performing major economy in the developed ... continue reading


Amazon sits on slippery slope as investors pull out from company Watch

Image of Amazon, despite constant reinvestment into technology like smartphones and drones, continues to lose investors and profits.

By Catholic Online (NEWS CONSORTIUM)

Amazon lost over $16 billion in value on the night of July 26, a sign that investors were growing weary of the retail giant's repeated failures to make a consistent profit. LOS ANGELES, CA (Catholic Online) - This was Amazon's largest quarterly loss in two years, ... continue reading


The buck does stop here: Chinese currency set to close the gap between it and the dollar Watch

Image of A new study from China indicates that the Chinese yuan is likely to become the third most used international currency by 2019.

By Catholic Online (NEWS CONSORTIUM)

China's currency, the renminbi (RMB), is looking to become the third-largest international currency behind the U.S.'s dollar and the euro by 2019 said the Renmin University of China in a report published on July 20. LOS ANGELES, CA (Catholic Online) - Last year, ... continue reading


Financial consultant warns that U.S. is entering third largest stock bubble Watch

Image of A new study by financial consulting firm Smithers & Co. warns that the U.S. is entering another major stock bubble, the third largest in U.S. history.

By Catholic Online (NEWS CONSORTIUM)

A new research report by financial consultant Andrew Smithers, chairman of Smithers & Co., suggests that the U.S. is in the midst of another stock-market bubble, much like the bubbles in 1853, 1906, 1929, 1969 and 1999. LOS ANGELES, CA (Catholic Online) - ... continue reading


WARNING: The most important article you may ever read - We need a moral revolution at the top, before pitchforks appear in the street Watch

Image of In the game of plutocracy you start by owing money to the bank and as it progresses, you owe more.

By Marshall Connolly, Catholic Online (NEWS CONSORTIUM)

An article published in 2011 in Forbes is making the rounds again and people are talking, but despite the dust on the copy, it's a timely conversation. The article by Brendan Coffey reveals that there are four companies that control 147 other companies and those 147 ... continue reading


U.S. to shortly overtake Saudi Arabia, Russia in production of natural oil Watch

Image of In Texas and North Dakota, oil extraction is soaring at shale formations as companies split rocks using high-pressure liquid in a process known as fracking.

By Catholic Online (NEWS CONSORTIUM)

The United States has often found itself at the mercy of unstable nations for the majority of its oil imports. That day may soon be past after American begins the extraction of energy from shale rock, eventually overtaking both Saudi Arabia and Russia in oil ... continue reading


Unemployment among black Americans twice that among whites Watch

Image of The jobless rate among whites last month was 6.6 percent; among blacks, 12.6 percent. The unemployment rate for blacks has averaged about 2.2 times that for whites.

By Catholic Online (NEWS CONSORTIUM)

When African-Americans marched on Washington in 1963, it was under the banner of "Jobs and Freedom." There remains a great inequity with the former; the number of unemployed blacks in America remains twice as much as whites, and has remained that way for ... continue reading


Don't read this if you enjoy shrimp -- and hate slavery Watch

Image of Forced to work on old fishing boats, slaves work 20-hour days, often with drugs to keep them going. They are not paid, having been bought and sold into the industry.

By Catholic Online (NEWS CONSORTIUM)

A shocking investigative report from The Guardian reveal that virtually all shrimp harvested in Thailand is in some way a product of slave labor, and that much of this shrimp ends up in the mainstream food supply chain. If you eat shrimp, it is likely you are consuming ... continue reading


How bad is it? So bad even the capitalists are quoting Marx Watch

Image of IMF managing director Christine Lagarde gave a keynote address where she quoted Karl Marx.

By Catholic Online (NEWS CONSORTIUM)

The elites of the free world may be awakening to the fact that their unfettered pursuit of more is perhaps the single greatest existential threat to their existence. At a recent invitation-only conference in London, several billionaires as well as the head of the IMF ... continue reading


Yes, corporate tax havens cost you too! Watch

Image of It's common and it cheats millions of their due.

By Catholic Online (NEWS CONSORTIUM)

Surprise, surprise, surprise!  The same day Cardinal Maradiaga condemned unethical business practices that do nothing to help those at the bottom of society, a report was released that shows a majority of Fortune 500 companies stash their money offshore to avoid ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

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

Daily Readings

Reading 1, Sirach 44:1, 10-15
1 Next let us praise illustrious men, our ancestors ... Read More

Psalm, Psalms 132:11, 13-14, 17-18
11 Yahweh has sworn to David, and will always remain ... Read More

Gospel, Matthew 13:16-17
16 'But blessed are your eyes because they see, your ... Read More

Saint of the Day

Saint of the Day for July 26th, 2014 Image

Sts. Joachim and Anne
July 26: By tradition Joachim and Anne are considered to be the names of ... 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