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Bull of the Woods

Trump said Amazon cost the USPS ‘billions.’ But the post office has a different explanation.

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Bull of the Woods

Business

Trump said Amazon cost the USPS ‘billions.’ But the post office has a different explanation.

By Eli Rosenberg

May 11, 2018 at 8:11 PM

UK4EB3OMFA5ITDHMJVYKSFRMHA.jpg&w=600 After weeks of railing against online shopping giant Amazon.com, President Trump signed an executive order April 12, creating a task force to study the U.S. Postal Service. (AP Photo/David Goldman)
"While we are on the subject, it is reported that the U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars. The Failing N.Y. Times reports that “the size of the company’s lobbying staff has ballooned,” and that...

 

The U.S. Postal Service says that its large financial losses are caused by market forces and governmental constraints but not Amazon.com, in a release of its quarterly statistics that stood in contrast to pointed statements made by President Trump.

Trump made waves in March when he declared that the Postal Service was losing money on every package it delivered for Amazon and falsely asserted that The Washington Post was a lobbyist for the company, before ordering a review of the service’s finances.

The Post is owned by Jeffrey P. Bezos, who is the founder and chief executive of Amazon, but the two firms are independent of each other.

But the Postal Service’s second-quarter results, which were released Friday, note that increases in shipping and package volume remained areas of strong revenue growth amid other declines and economic pressures, which added up to a $1.3 billion net loss in the quarter.

Though mail was down by 700 million pieces, or 2.1 percent, package volume grew by some 70 million pieces, about 5 percent, the report said.

While revenue overall had grown slightly to $17.5 billion, due in part to these increases, operating costs had surged up 5.7 percent, driven by rising costs connected to retiree health benefits, employee compensation and transportation expenses from increased fuel rates and contractual issues.

 
Officials also cited declining letter volumes, and in particular the decline of the use of First Class and marketing mail, as a challenge faced by the business.

“Despite growth in our package business, our financial results reflect systemic trends in the marketplace and the effects of an inflexible, legislatively mandated business model that limits our ability to generate sufficient revenue and imposes costs upon us that we cannot afford,” Postmaster General Megan J. Brennan said in a statement. “With continued aggressive management and greater legal authority to respond to changes in our marketplace and to control our costs, the Postal Service can return to financial sustainability.”

The Postal Service has petitioned the Postal Regulatory Commission, the independent body that regulates it, to give it the ability to raise stamp prices beyond inflation, according to the Associated Press.

“Congress and the commission need to act now,” Brennan said.

The Postal Service did note that the “labor-intensive” package business had raised employee-compensation expenses by $364 million.

Amazon uses the Postal Service for about 40 percent of its shipping needs, analysts have estimated, with a per-package cost of about $2, which is significantly lower than the rates charged by other major shippers, according to Post business writer Steve Pearlstein. Amazon shipped more than 1.2 billion packages in the United States last year, according to statistics cited by the Wall Street Journal.

The agency’s regulator has disputed the idea that Amazon is hurting its business. The Wall Street Journal reported that former postmaster general Patrick Donahoe told analysts last week that the contract with Amazon had been profitable for the Postal Service.

 

Pearlstein, who acknowledged the complex economic issues at play in the contract, wrote that the arrangement is likely a win for both Amazon and the Postal Service, which is getting additional business for something it is already set up to do: stop at every home, business, and rural post box six days a week, though it now provides the service on Sundays for Amazon.

Related: [Is the post office making or losing money delivering Amazon packages?]

“Looked at from the standpoint of incremental revenue (huge) minus these incremental expenses (modest), the Postal Service could very easily have come to the conclusion that, even at $2 a package, the Amazon contract was likely to be highly profitable,” Pearlstein wrote.

Ultimately, the complexities of the Postal Service’s modern financial picture is “a reality that is way too complicated for our president to understand,” he wrote.

On Friday, Postal Service Chief Financial Officer Joseph Corbett pointed to the “decline in First Class mail, rising costs and legislative and regulatory constraints,” for the quarter’s losses.

Trump’s executive order for a reviewof Postal Services finances requires it to identify potential changes so it can operate under a “sustainable business model.” The order does not single out Amazon by name, and notes economic pressures similar to the ones cited Friday by Postal Service officials: declining volume of First Class mail, legal mandates that give it inflexible costs and challenges balancing its books in the face of its pension liabilities and retiree health obligations.

Read more: 

Dentists apologize for wearing cultural costumes in ‘ignorant and offensive’ teeth whitening ad

 

Video shows Georgia officer shouting, cursing at 65-year-old grandmother during a traffic stop

‘It’s just horrifying’: Seven killed in Australia’s deadliest mass shooting in 22 years

 

Eli Rosenberg is a reporter on The Washington Post's General Assignment team. He has worked at the New York Times and the New York Daily News.

    
 
Edited by Bull of the Woods

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Civilwarbuff
6 hours ago, Bull of the Woods said:

“Looked at from the standpoint of incremental revenue (huge) minus these incremental expenses (modest), the Postal Service could very easily have come to the conclusion that, even at $2 a package, the Amazon contract was likely to be highly profitable,” Pearlstein wrote.

So, IOW they have not got the faintest idea whether they are making or losing money on Amazon.  Now that's a business model to live by!

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Uncle Siggy

The Horrific New Marriage Between Your Post Office and Amazon Sunday

https://www.alternet.org/labor/horrific-new-marriage-between-your-post-office-and-amazon-sunday

 

(Sounds kinda like slave labor something the Regressives love)..

 

Amazon Sabotages Its Own Black Friday Sales?

https://www.wallstreetdaily.com/2014/11/26/amazon-ups-usps/

 

 

 

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Uncle Siggy
1 hour ago, Civilwarbuff said:

So, IOW they have not got the faintest idea whether they are making or losing money on Amazon.  Now that's a business model to live by!

Ever notice that if you live further out of town FedEx, UPS and DHL won't deliver there? It's because is isn't profitable for them to go that far out so they farm that out to the USPS. Which means you might send the package by FedEx but it ends up being delivered by the USPS...

 

Since the average profit margin for the other three companies falls in the 5% or so range the USPS margin is probably razor thin if not non existent...

 

If you're a career/full time employee of the USPS your retirement fund is fully funded thru 2056 (Congress seen to that 10 years ago) but if you're one of the CCAs (to make the Amazon deal "profitable") who make at least $10 less per hr life ain't so sweet...

Edited by Uncle Siggy

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godsquadgeek
9 hours ago, Bull of the Woods said:

Business

Trump said Amazon cost the USPS ‘billions.’ But the post office has a different explanation.

By Eli Rosenberg

May 11, 2018 at 8:11 PM

UK4EB3OMFA5ITDHMJVYKSFRMHA.jpg&w=600 After weeks of railing against online shopping giant Amazon.com, President Trump signed an executive order April 12, creating a task force to study the U.S. Postal Service. (AP Photo/David Goldman)
"While we are on the subject, it is reported that the U.S. Post Office will lose $1.50 on average for each package it delivers for Amazon. That amounts to Billions of Dollars. The Failing N.Y. Times reports that “the size of the company’s lobbying staff has ballooned,” and that...

 

The U.S. Postal Service says that its large financial losses are caused by market forces and governmental constraints but not Amazon.com, in a release of its quarterly statistics that stood in contrast to pointed statements made by President Trump.

Trump made waves in March when he declared that the Postal Service was losing money on every package it delivered for Amazon and falsely asserted that The Washington Post was a lobbyist for the company, before ordering a review of the service’s finances.

The Post is owned by Jeffrey P. Bezos, who is the founder and chief executive of Amazon, but the two firms are independent of each other.

But the Postal Service’s second-quarter results, which were released Friday, note that increases in shipping and package volume remained areas of strong revenue growth amid other declines and economic pressures, which added up to a $1.3 billion net loss in the quarter.

Though mail was down by 700 million pieces, or 2.1 percent, package volume grew by some 70 million pieces, about 5 percent, the report said.

While revenue overall had grown slightly to $17.5 billion, due in part to these increases, operating costs had surged up 5.7 percent, driven by rising costs connected to retiree health benefits, employee compensation and transportation expenses from increased fuel rates and contractual issues.

 
Officials also cited declining letter volumes, and in particular the decline of the use of First Class and marketing mail, as a challenge faced by the business.

“Despite growth in our package business, our financial results reflect systemic trends in the marketplace and the effects of an inflexible, legislatively mandated business model that limits our ability to generate sufficient revenue and imposes costs upon us that we cannot afford,” Postmaster General Megan J. Brennan said in a statement. “With continued aggressive management and greater legal authority to respond to changes in our marketplace and to control our costs, the Postal Service can return to financial sustainability.”

The Postal Service has petitioned the Postal Regulatory Commission, the independent body that regulates it, to give it the ability to raise stamp prices beyond inflation, according to the Associated Press.

“Congress and the commission need to act now,” Brennan said.

The Postal Service did note that the “labor-intensive” package business had raised employee-compensation expenses by $364 million.

Amazon uses the Postal Service for about 40 percent of its shipping needs, analysts have estimated, with a per-package cost of about $2, which is significantly lower than the rates charged by other major shippers, according to Post business writer Steve Pearlstein. Amazon shipped more than 1.2 billion packages in the United States last year, according to statistics cited by the Wall Street Journal.

The agency’s regulator has disputed the idea that Amazon is hurting its business. The Wall Street Journal reported that former postmaster general Patrick Donahoe told analysts last week that the contract with Amazon had been profitable for the Postal Service.

 

Pearlstein, who acknowledged the complex economic issues at play in the contract, wrote that the arrangement is likely a win for both Amazon and the Postal Service, which is getting additional business for something it is already set up to do: stop at every home, business, and rural post box six days a week, though it now provides the service on Sundays for Amazon.

Related: [Is the post office making or losing money delivering Amazon packages?]

“Looked at from the standpoint of incremental revenue (huge) minus these incremental expenses (modest), the Postal Service could very easily have come to the conclusion that, even at $2 a package, the Amazon contract was likely to be highly profitable,” Pearlstein wrote.

Ultimately, the complexities of the Postal Service’s modern financial picture is “a reality that is way too complicated for our president to understand,” he wrote.

On Friday, Postal Service Chief Financial Officer Joseph Corbett pointed to the “decline in First Class mail, rising costs and legislative and regulatory constraints,” for the quarter’s losses.

Trump’s executive order for a reviewof Postal Services finances requires it to identify potential changes so it can operate under a “sustainable business model.” The order does not single out Amazon by name, and notes economic pressures similar to the ones cited Friday by Postal Service officials: declining volume of First Class mail, legal mandates that give it inflexible costs and challenges balancing its books in the face of its pension liabilities and retiree health obligations.

Read more: 

Dentists apologize for wearing cultural costumes in ‘ignorant and offensive’ teeth whitening ad

 

Video shows Georgia officer shouting, cursing at 65-year-old grandmother during a traffic stop

‘It’s just horrifying’: Seven killed in Australia’s deadliest mass shooting in 22 years

 

Eli Rosenberg is a reporter on The Washington Post's General Assignment team. He has worked at the New York Times and the New York Daily News.

    
 

amazon is a big customer, of course they will defend it.  

 

wouldn't you?  

 

trump is not wrong. 

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Bull of the Woods
4 minutes ago, godsquadgeek said:

amazon is a big customer, of course they will defend it.  

 

wouldn't you?  

 

trump is not wrong. 

Of course Trump is right. Even if the postal service and the regulators disagree. Trump is right. 

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godsquadgeek
4 hours ago, Bull of the Woods said:

Of course Trump is right. Even if the postal service and the regulators disagree. Trump is right. 

Who do you believe ?  The people who get paid more based on how negative the story is or trump?

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Civilwarbuff
42 minutes ago, godsquadgeek said:

Who do you believe ?  The people who get paid more based on how negative the story is or trump?

You really have to ask that?

waving smiley
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Uncle Siggy
57 minutes ago, Civilwarbuff said:

You really have to ask that?

waving smiley

Some folks are just a glutton for punishment...

 

 

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Civilwarbuff
9 hours ago, Bull of the Woods said:

Of course Trump is right. Even if the postal service and the regulators disagree. Trump is right. 

Where did they disagree with Trump?  Did they state that they are making money on the Amazon deal?.....if so, I didn't see it.

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Pouty Puppy
12 hours ago, Civilwarbuff said:

So, IOW they have not got the faintest idea whether they are making or losing money on Amazon.  Now that's a business model to live by!

 It's Trump's fault. Wait, I have a hangnail! Dang it! It's Trump's fault. :classic_laugh:

 

Oh, wait! Here's a February 2018 article before anyone started whining about Amazon's issues and the USPS being .....TRUMP'S FAULT! office-basketball-smiley-emoticon.gif

 

The Nation

 Postal-Service Workers Are

Shouldering the Burden for Amazon   

 

 

The tech giant’s rise has pushed mail clerks and carriers to the breaking point.

By Jake BittleTwitter

FEBRUARY 21, 2018

 

 

"Around one-third of the packages Amanda handles are shipped by Amazon. As the Seattle-based tech giant commands an ever greater share of the retail market, the number of packages handled by the USPS keeps increasing. But employees say Postal Service management hasn’t responded to the surge in heavy items by investing in staffing or infrastructure. Instead, its leadership has cut costs and resorted to what union leaders call “management by stress.”   "

 

(SIC)

"...Amazon was able to make a deal to ship its packages through USPS at cut-rate prices, because the company preemptively sorts and labels packages by postal route. But transporting and distributing these packages still takes clerks like Amanda much longer than sorting letters, which can be fed through a machine. If the clerks are delayed, the station’s carriers will be delayed in starting routes, which are already longer than ever thanks to the packages filling up their satchels and trucks. Many won’t deliver their final box until well after the sun has set.

“If there’s a lot of Amazon, it just gums up the works,” Amanda said. “Things get backed up by two, three hours.”

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Bull of the Woods
1 hour ago, Civilwarbuff said:

Where did they disagree with Trump?  Did they state that they are making money on the Amazon deal?.....if so, I didn't see it.

The agency’s regulator has disputed the idea that Amazon is hurting its business. The Wall Street Journal reported that former postmaster general Patrick Donahoe told analysts last week that the contract with Amazon had been profitable for the Postal Service.

 
 Pearlstein, who acknowledged the complex economic issues at play in the contract, wrote that the arrangement is likely a win for both Amazon and the Postal Service, which is getting additional business for something it is already set up to do: stop at every home, business, and rural post box six days a week, though it now provides the service on Sundays for Amazon.

Related: [Is the post office making or losing money delivering Amazon packages?]

“Looked at from the standpoint of incremental revenue (huge) minus these incremental expenses (modest), the Postal Service could very easily have come to the conclusion that, even at $2 a package, the Amazon contract was likely to be highly profitable,” Pearlstein wrote.

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Civilwarbuff

And yet no one can say for certain that the Amazon deal is profitable or otherwise they would have stated so.  They are simply making assumptions as shown by your post above.  And we all know what making assumptions make people look like.

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Bull of the Woods
31 minutes ago, Civilwarbuff said:

And yet no one can say for certain that the Amazon deal is profitable or otherwise they would have stated so.  They are simply making assumptions as shown by your post above.  And we all know what making assumptions make people look like.

A President?!?!?

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Civilwarbuff
36 minutes ago, Bull of the Woods said:

A President?!?!?

Actually I was thinking of someone who owns a Maryland farm.  You know, from your posts I kinda thought you were a farmer; if so would you plant and harvest a crop if you weren't reasonably certain you could sell for a profit?....of course this should apply to any business venture.....except a US gov entity that figures they can always go to the public teat and get fed. 

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Bull of the Woods

They do make money on Amazon. Maybe they would or should want more. They do lose money on a lot of other stuff though.

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Civilwarbuff
8 hours ago, Bull of the Woods said:

They do make money on Amazon.

What you have quoted above does not say that.....do you have something that does?  I mean, surely the USPS has broken down cost/revenue on this deal as any business would before entering such an agreement so I would think there should be a chart out there somewhere.

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