Friday, April 16, 2010

How about putting the Post Office up for auction?

US Postal Service (USPS) decline in mail volume 2007-09: 36 billion pieces (17%)

USPS losses, 2007-2009: $12 billion

USPS career workforce reductions, 2007-2009: 84,000

USPS unfunded pensions and retiree health obligations and other liabilities: $90 billion

Potential cumulative USPS losses: $238 billion

Employee compensation and benefits as percentage of USPS costs: 80%

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