Thursday, February 07, 2013

US Postal Service losing more money per day than Illinois pension funds

How bad is the hemorrhaging of cash by the United States Postal Service? It is losing $25 million per day--which is even more than what Illinois' funds are underfunded by on a daily basis--which is 'only' $17 million..

Hey, at least the USPS is doing something about its problems--such as moving to delivery to five days a week.

Whereas Illinois has done almost nothing to confront its underfunded pension crisis.

Related post:

Where's my certified letter? My telephone conversation from hell with a postal supervisor

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1 comment:

Andy Sommers said...

Being a former resident of Illinois, and seeing the struggles in government there, I can't even imagine how much the USPS is struggling on a daily basis. The USPS has already announced plans to discontinue delivery of first class mail on Saturdays later this year.

Two other industries come to mind that will immediately be affected by this change: utilities providers, and the marketing industry. Utilities companies may have to wait for payments for longer periods. Marketers, on the other hand, have utilized direct-mail marketing for years as one of their most effective strategies. How will they respond to this environmental change?