Why do we continue to piss away money on the USPS?

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Why do we continue to piss away money on the USPS?

Post by Hokie CPA »

First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
Last edited by Hokie CPA on Tue Jan 07, 2014 5:41 pm, edited 1 time in total.
I don't care if you're a Democrat or a Republican... if you refuse to consider alternatives to the two parties, you support the Status Quo and you are a major part of the problem.

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HvilleHokie
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Re: Why do we continue to piss away money on the USPS?

Post by HvilleHokie »

wilford brimley disagrees.

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One4VT
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Re: Why do we continue to piss away money on the USPS?

Post by One4VT »

TBFT USPS- Some of the overhead is politically untouchable. Its very hard to close down post offices because Congress just overrules executive decisions to do so. Its very easy for a Rep to do that so that he gets a political win back home.

Hokie CPA wrote:
First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
Don't "Sub-Forum" my Thread Bro!
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Re: Why do we continue to piss away money on the USPS?

Post by Valencia Hokie »

I don't disagree that it's a struggling entity but I'm not at the point of saying snail mail is dead because of technology. It's still pretty viable, IMO. Advertizing via mail is a HUGE industry. So in some sense, it's becoming more vital with the growth of eCommerce. Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.

USPS had really upped their game lately, IMO. The pressure from UPS and FedEx has helped. All my USPS packages made it on time over Xmas. UPS and FedEx failed miserably. I agree that they need to get leaner and I don't know if that can be done because of the bureaucracy. It almost needs a complete collapse and a reset - like Twinkies. :o)

Hokie CPA wrote:
First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
One4VT
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Re: Why do we continue to piss away money on the USPS?

Post by One4VT »

You can check with your bank to see if they have counter checks that they will draw up for you and you can also use your bill pay service to pay the School. If Bill Pay doesn't find a way to send your payment electronically, it sends a paper check to the address you designate.

Valencia Hokie wrote:I don't disagree that it's a struggling entity but I'm not at the point of saying snail mail is dead because of technology. It's still pretty viable, IMO. Advertizing via mail is a HUGE industry. So in some sense, it's becoming more vital with the growth of eCommerce. Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.

USPS had really upped their game lately, IMO. The pressure from UPS and FedEx has helped. All my USPS packages made it on time over Xmas. UPS and FedEx failed miserably. I agree that they need to get leaner and I don't know if that can be done because of the bureaucracy. It almost needs a complete collapse and a reset - like Twinkies. :o)

Hokie CPA wrote:
First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
Don't "Sub-Forum" my Thread Bro!
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Re: Why do we continue to piss away money on the USPS?

Post by Hokie CPA »

Valencia Hokie wrote:Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.
I order checks for my business, but I haven't written a personal check in probably 7 or 8 years. I agree that the USPS shouldn't go completely away, but there really is no reason to deliver mail 6 days a week. They could operate M-W-F and honestly, people would hardly realize it.

By people I mean customers. Naturally postal workers would realize it... but then, it's all those people working so much and claiming so many benefits that we need to trim out, now isn't it?
I don't care if you're a Democrat or a Republican... if you refuse to consider alternatives to the two parties, you support the Status Quo and you are a major part of the problem.

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One4VT
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Re: Why do we continue to piss away money on the USPS?

Post by One4VT »

a M-W-F/T-Th-Sat rotation is also viable. But again, its all about Congressional Politics. The USPS often has its hands tied and many things they propose get shot down because so many Congress Critters get up in arms.

Hokie CPA wrote:
Valencia Hokie wrote:Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.
I order checks for my business, but I haven't written a personal check in probably 7 or 8 years. I agree that the USPS shouldn't go completely away, but there really is no reason to deliver mail 6 days a week. They could operate M-W-F and honestly, people would hardly realize it.

By people I mean customers. Naturally postal workers would realize it... but then, it's all those people working so much and claiming so many benefits that we need to trim out, now isn't it?
Don't "Sub-Forum" my Thread Bro!
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Re: Why do we continue to piss away money on the USPS?

Post by Valencia Hokie »

I do that when possible but normally it's a teacher asking for funds for a field trip or the local EMS at my door asking for a donation or the Girl Scouts asking for payment. There are just a lot of organizations that still prefer checks. My neighbor works for the Richmond Fed in the check processing side of the house. They saw a huge drop-off 8-10 years ago with online banking and EFTs. But he says it stabilized and has not decreased much since then. My guess is it will work out in time with iPhone card scanners and such, but for now, I still write 20-30 paper checks a year and it DRIVES ME CRAZY!
One4VT wrote:You can check with your bank to see if they have counter checks that they will draw up for you and you can also use your bill pay service to pay the School. If Bill Pay doesn't find a way to send your payment electronically, it sends a paper check to the address you designate.

Valencia Hokie wrote:I don't disagree that it's a struggling entity but I'm not at the point of saying snail mail is dead because of technology. It's still pretty viable, IMO. Advertizing via mail is a HUGE industry. So in some sense, it's becoming more vital with the growth of eCommerce. Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.

USPS had really upped their game lately, IMO. The pressure from UPS and FedEx has helped. All my USPS packages made it on time over Xmas. UPS and FedEx failed miserably. I agree that they need to get leaner and I don't know if that can be done because of the bureaucracy. It almost needs a complete collapse and a reset - like Twinkies. :o)

Hokie CPA wrote:
First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
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Re: Why do we continue to piss away money on the USPS?

Post by Bay_area_Hokie »

Valencia Hokie wrote:I do that when possible but normally it's a teacher asking for funds for a field trip or the local EMS at my door asking for a donation or the Girl Scouts asking for payment. There are just a lot of organizations that still prefer checks. My neighbor works for the Richmond Fed in the check processing side of the house. They saw a huge drop-off 8-10 years ago with online banking and EFTs. But he says it stabilized and has not decreased much since then. My guess is it will work out in time with iPhone card scanners and such, but for now, I still write 20-30 paper checks a year and it DRIVES ME CRAZY!
One4VT wrote:You can check with your bank to see if they have counter checks that they will draw up for you and you can also use your bill pay service to pay the School. If Bill Pay doesn't find a way to send your payment electronically, it sends a paper check to the address you designate.

Valencia Hokie wrote:I don't disagree that it's a struggling entity but I'm not at the point of saying snail mail is dead because of technology. It's still pretty viable, IMO. Advertizing via mail is a HUGE industry. So in some sense, it's becoming more vital with the growth of eCommerce. Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.

USPS had really upped their game lately, IMO. The pressure from UPS and FedEx has helped. All my USPS packages made it on time over Xmas. UPS and FedEx failed miserably. I agree that they need to get leaner and I don't know if that can be done because of the bureaucracy. It almost needs a complete collapse and a reset - like Twinkies. :o)

Hokie CPA wrote:
First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
Valencia

I work in the payments industry and checks are really going the way if the dodo bird. For consumers, they are only popular with older Americans. 20-something's don't use them at all really from the numbers I have seen. The younger folks are all debit card oriented.




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Re: Why do we continue to piss away money on the USPS?

Post by USN_Hokie »

One4VT wrote:a M-W-F/T-Th-Sat rotation is also viable.
That would confuse the ever-living shirt out of old people - I love it. I can just SEE old couples all across America bickering with each other over whether they're going to get mail today. :lol:
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Re: Why do we continue to piss away money on the USPS?

Post by USN_Hokie »

Bay_area_Hokie wrote:
I work in the payments industry and checks are really going the way if the dodo bird. For consumers, they are only popular with older Americans. 20-something's don't use them at all really from the numbers I have seen.
...just like USPS.
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Re: Why do we continue to piss away money on the USPS?

Post by nolanvt »

One4VT wrote:You can check with your bank to see if they have counter checks that they will draw up for you and you can also use your bill pay service to pay the School. If Bill Pay doesn't find a way to send your payment electronically, it sends a paper check to the address you designate.

Valencia Hokie wrote:I don't disagree that it's a struggling entity but I'm not at the point of saying snail mail is dead because of technology. It's still pretty viable, IMO. Advertizing via mail is a HUGE industry. So in some sense, it's becoming more vital with the growth of eCommerce. Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.

USPS had really upped their game lately, IMO. The pressure from UPS and FedEx has helped. All my USPS packages made it on time over Xmas. UPS and FedEx failed miserably. I agree that they need to get leaner and I don't know if that can be done because of the bureaucracy. It almost needs a complete collapse and a reset - like Twinkies. :o)

Hokie CPA wrote:
First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
Yup. I haven't written a paper check in years.
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Re: Why do we continue to piss away money on the USPS?

Post by Valencia Hokie »

I can't disagree with that as you have working knowledge. I used to be a consultant for the Fed a decade ago and I saw the impact of electronic payments hit them hard. I suspected checks would be a thing of the past by now. But I a shocked how often I still have to write them. I asked my neighbor about it recently and he said the drop off has slowed. He said he does not at all expect a turn around. Just that some people prefer checks and will continue to use/demand them as a means of payment.

As I noted, it's not just "old people" but businesses that prefer to do things "the old way." 2% CC fees on monies received makes a difference to people. And while many who take checks as away of revenue fail to see that bank fees level the cost playing field, they still prefer it. Additionally, personal transactions are required for many Debit transactions. So teachers planning field trips prefer to have it in hand, rather than come by your house to swipe a card. Cash is obviously an answer, but when "records" are required for such events, checks create that beautiful paper trail.

So I'm not totally convinced that checks will completely go away, much like the USPS. I would prefer it would go away as I hate reconciling checks and waiting for some dolt to remember to cash it, but my wishes keep getting interrupted by my reality.

Maybe I'm the only one still writing paper checks and keeping the industry afloat. If so, I repent.
Bay_area_Hokie wrote:
Valencia

I work in the payments industry and checks are really going the way if the dodo bird. For consumers, they are only popular with older Americans. 20-something's don't use them at all really from the numbers I have seen. The younger folks are all debit card oriented.
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Re: Why do we continue to piss away money on the USPS?

Post by 133743Hokie »

Two major things impacting the profitability of the USPS.

1) The mandate to provide service everywhere. It is a national system. They have to have the small rural post offices. They have to get mail to and from them. There is a huge cost here.

2) Congress mandated that they fully fund their retirement and benefits program. No other federal, or quasi-government entity is required to do this. They have been, and continue to be, severely penalized by having to put so much of their revenue into potential long term obligations.
Hokie CPA wrote:
First-Class Postage Rate Will Rise To 49 Cents Next Month

by
December 24, 2013 4:59 PM

You'll soon need some 3-cent stamps to go with those 46-cent ones.

Regulators on Tuesday authorized the increase, and beginning Jan. 26, it'll cost 49 cents to send a first-class letter. Bulk rate mail, periodicals and package service rates will go up 6 percent, The Associated Press says.

Regulators rejected a request to make the price hike permanent and say instead that it will last no longer than two years, by which time the U.S. Postal Service should have recouped $2.8 billion in losses.

The AP says:

"The independent Postal Regulatory Commission said the change was justified by severe mail volume decreases since 2008."

http://www.npr.org/blogs/thetwo-way/201 ... next-month
Why 49cents? Why not make it an even 50?

And another thing... The justification they give is declining volume... They can't cover overhead. Simple economics tells us when demand is falling, you don't RAISE prices! You need to cut costs! Stop Saturday deliveries!

Honestly you should probably stop Tuesday and Thursday deliveries too! The postal service is a dying industry and it's not their fault or anybody else'. New technology has made it obsolete! Mail is transmitted electronically now. We need to quit pissing so much money away on the postal service!
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Re: Why do we continue to piss away money on the USPS?

Post by cwtcr hokie »

I agree with you on the 50 cent thing and I agree stopping sat. delivery would be a good thing. but regular mail is not dead, most businesses still send checks for vendor payments and those businesses receiving those checks get them every day and rely on them for cash flow. I think we could probably just do a mon-wed-fri delivery schedule tho but it will never go away completely.

Hokie CPA wrote:
Valencia Hokie wrote:Along that reasoning, I keep wondering when I can stop ordering checks? - i pretty much do 90% of my financial transactions electronically. But there are still entities out there, like schools and PTA's and civic organizations that will only take checks for what seems like eons. It will lumber on for a while I'm afraid.
I order checks for my business, but I haven't written a personal check in probably 7 or 8 years. I agree that the USPS shouldn't go completely away, but there really is no reason to deliver mail 6 days a week. They could operate M-W-F and honestly, people would hardly realize it.

By people I mean customers. Naturally postal workers would realize it... but then, it's all those people working so much and claiming so many benefits that we need to trim out, now isn't it?
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Re: Why do we continue to piss away money on the USPS?

Post by Hokie CPA »

133743Hokie wrote:Two major things impacting the profitability of the USPS.

1) The mandate to provide service everywhere. It is a national system. They have to have the small rural post offices. They have to get mail to and from them. There is a huge cost here.

2) Congress mandated that they fully fund their retirement and benefits program. No other federal, or quasi-government entity is required to do this. They have been, and continue to be, severely penalized by having to put so much of their revenue into potential long term obligations.
3) The postal service is obsolete. People just don't need or use it like they used to. Why should I put a $0.50 stamp on an envelope to send a document across town for next-day delivery when I can go in the next room, scan it, and email it immediately at no additional cost above the monthly internet fees I already pay?

I really think, in the end, this is the main issue. The USPS should continue to operate as it does with respect to its Priority Mail service (next day, two-day, and "If it fits it ships") but for regular first-class mail, there simply is no reason to continue delivering six days per week. They can make major cost cuts by delivering advert flats and first class mail on M-W-F... and if, in the process, they can downgrade a bunch of their labor to part-time or no-time status, they'll cut back on those potential long-term obligations as well.
I don't care if you're a Democrat or a Republican... if you refuse to consider alternatives to the two parties, you support the Status Quo and you are a major part of the problem.

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Re: Why do we continue to piss away money on the USPS?

Post by 133743Hokie »

Hokie CPA wrote:
133743Hokie wrote:Two major things impacting the profitability of the USPS.

1) The mandate to provide service everywhere. It is a national system. They have to have the small rural post offices. They have to get mail to and from them. There is a huge cost here.

2) Congress mandated that they fully fund their retirement and benefits program. No other federal, or quasi-government entity is required to do this. They have been, and continue to be, severely penalized by having to put so much of their revenue into potential long term obligations.
3) The postal service is obsolete. People just don't need or use it like they used to. Why should I put a $0.50 stamp on an envelope to send a document across town for next-day delivery when I can go in the next room, scan it, and email it immediately at no additional cost above the monthly internet fees I already pay?

I really think, in the end, this is the main issue. The USPS should continue to operate as it does with respect to its Priority Mail service (next day, two-day, and "If it fits it ships") but for regular first-class mail, there simply is no reason to continue delivering six days per week. They can make major cost cuts by delivering advert flats and first class mail on M-W-F... and if, in the process, they can downgrade a bunch of their labor to part-time or no-time status, they'll cut back on those potential long-term obligations as well.
Most small businesses (majority of volume) don't do #3. And don't want to. Not obsolete at all.
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Re: Why do we continue to piss away money on the USPS?

Post by cwtcr hokie »

I still use them, I don't want a bunch of deductions from our account that are automatic, I want to control my personal cash flow. We also never use debit cards as we see with target it is not hard to get access to your bank account. I use c/c for most everything I buy when I am out at a store, the card gets scammed (it has happened to me at least 5 times in the last 10 years) it is easy to get it killed and cost me nothing. I use the debit card and it gets scammed and somebody screws with my bank account I have many more issues and much harder to deal with.
Valencia Hokie wrote:I can't disagree with that as you have working knowledge. I used to be a consultant for the Fed a decade ago and I saw the impact of electronic payments hit them hard. I suspected checks would be a thing of the past by now. But I a shocked how often I still have to write them. I asked my neighbor about it recently and he said the drop off has slowed. He said he does not at all expect a turn around. Just that some people prefer checks and will continue to use/demand them as a means of payment.

As I noted, it's not just "old people" but businesses that prefer to do things "the old way." 2% CC fees on monies received makes a difference to people. And while many who take checks as away of revenue fail to see that bank fees level the cost playing field, they still prefer it. Additionally, personal transactions are required for many Debit transactions. So teachers planning field trips prefer to have it in hand, rather than come by your house to swipe a card. Cash is obviously an answer, but when "records" are required for such events, checks create that beautiful paper trail.

So I'm not totally convinced that checks will completely go away, much like the USPS. I would prefer it would go away as I hate reconciling checks and waiting for some dolt to remember to cash it, but my wishes keep getting interrupted by my reality.

Maybe I'm the only one still writing paper checks and keeping the industry afloat. If so, I repent.
Bay_area_Hokie wrote:
Valencia

I work in the payments industry and checks are really going the way if the dodo bird. For consumers, they are only popular with older Americans. 20-something's don't use them at all really from the numbers I have seen. The younger folks are all debit card oriented.
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RiverguyVT
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Re: Why do we continue to piss away money on the USPS?

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49 cents is still a bargain
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