USPS hearing: Cash flow troubles
A subcommittee of the Senate Homeland Security and Governmental Affairs committee is holding a hearing on the financial crisis and the Postal Service. (You can watch it live here.)Â Steve Losey is at...
View ArticlePotter's pay package
Should the CEO of a company posting billions in annual losses receive a 50 percent raise and a six-figure bonus? And I’m not talking about the banks, or the crumbling auto companies. I’m talking about...
View ArticleShort-term fixes, long-term strategy
I’ve got a story up on the Web site about today’s marathon Postal Service hearing. It wasn’t very encouraging: As things stand now, the Postal Service faces a $6 billion deficit, and it will run out of...
View ArticleShould Potter get a bonus?
One other thought from today’s postal hearing. There was a lot of outrage over John Potter’s compensation package. It’s worth about $850,000, though that includes contributions to his retirement plan...
View ArticlePostal penalties? Nobody knows.
You’ll recall from this story yesterday that the Postal Service is in danger of running out of cash this year, barring new legislation from Congress. John Potter, the postmaster general, said he...
View ArticleUSPS offers incentives; will you take them?
Two questions for our readers at the Postal Service, following up on this afternoon’s announcement that USPS will offer buyouts to tens of thousands of employees. First, I’ve been getting e-mails for...
View ArticleUpdated list of possible USPS closures: 371 post offices
Here’s the updated list (pdf) of proposed post office closures from USPS. There are 371 post offices on the list, down from nearly 700 on the initial list released in July. Most of them are in major...
View Article241 post offices remain on updated closure list
The U.S. Postal Service issued another updated list of possible post office closures (pdf) on Friday, and just 241 facilities remain, down from more than 3,300 when the review process started this...
View ArticlePotter defends USPS health insurance policy
Postmaster General John Potter is standing by his agency’s policy of paying the full cost of health insurance premiums for senior executives. According to a recent audit, the U.S. Postal Service could...
View ArticlePostmaster General exiting with generous compensation package
The U.S. Postal Service may be struggling, but outgoing Postmaster General John Potter can count on a comfortable array of benefits to sustain him after he steps down Dec. 3, according to a rundown...
View ArticlePostal Service, IG at odds on whether top exec’s $306K compensation package...
A polite tiff has broken out between the U.S. Postal Service and its inspector general over whether a pension should count in determining whether a top officer’s compensation exceeded a legal pay cap....
View Article
