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September 26, 2007-
USPS Reports
$5.4 Billion Deficit for FY 2007
Projects
net loss of $600 million in 2008
- For
fiscal 2007, the Postal Service projects revenues of $75.0
billion and expenses of $80.4 billion for a projected net
loss of $5.4 billion. The net loss of $5.4 billion includes
operating income of $1.5 billion and a $6.9 billion negative
financial impact from the Postal Act of 2006 — which includes
a $3.0 billion one-time escrow expense, which was required
under the previous law, an additional $5.4 billion payment
into the Retiree Health Benefit Fund for 2007, and $1.5 billion
in savings from the Civil Service Retirement System (CSRS)
relief.
Postal Service
racks up $5.4B deficit in ’07
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NALC
Contract Implementation Dates Set
$686
cash payment on Oct. 19, back pay on Nov. 30 -
"President
William H. Young announced on September 26 that the lump sum
payment of $686 to cash out the COLA from November 2006 through
May 2007 will be included in carriers' October 19 paychecks.
The back pay for active carriers related to the 1.4% general
wage increase covering the period between November 25, 2006
and the end of Pay Period 20 (September 28) will be paid in
their regular paychecks on November 30."
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It's back in
line for post office users
"The U.S. Postal Service joined
the "self-service" bandwagon a few years ago by installing
thousands of free-standing kiosks known as APCs. Similar to
an ATM, many are available 24 hours a day, seven days a week,
to enable customers to weigh and mail letters and purchase
stamps quickly. The U.S. Post Office on Route 50 decided to
remove their ACP because customers weren't using the machine
enough to meet the standard $400 a day income, said Freda
Sauter, U.S. Postal Service spokeswoman for the Baltimore
district."
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Postal Clerk guilty in $65,000
heist
A postal clerk was convicted
yesterday of masterminding a $65,000 armed heist at the Brooklyn
post office where he worked. Derrek Pannell, 33, faces more
than 30 years in prison when he's sentenced Jan. 25, postal
authorities said. Pannell and two accomplices entered the
James E. Davis Post Office in Crown Heights in the early hours
of Nov. 15, 2005, tied up six employees and forced the station
manager to open a safe at gunpoint. Archive:
Clerk's Delivery Aided Heist
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Postal Supervisor Gets Probation
for Stealing from the Mail
A former employee at Peoria's
post office was sentenced Monday to federal probation for
removing greeting and birthday cards from the mail and taking
money that was inside. Jerry Redshaw had waived indictment
by a federal grand jury in May and pleaded guilty to one count
of theft by a postal employee. In addition to the probation,
he was sentenced to four months home confinement and two months
work release, said his attorney Kevin Sullivan. Beginning
in 2006 and lasting until March, Red |