Post Office is Going Inslovent Aug 1

[Chuckiechan]

Post Office Might Miss Retirees' Payment - WSJ.com

Nothing will happen. As usual, they will just cut them a check from a bank account that is empty.

I think for starters they can get rid of Saturday and Wednesday delivery. And many rural post offices can be closed or licensed to a retail store.

Something has to give.

[brandon184]

I can imagine that it is difficult to remain solvent when you are having to pay billions in health benefits to retirees. Too bad there isn't a universal system to take care of that for them.

[sharder8]

I can imagine that it is difficult to remain solvent when you are having to pay billions in health benefits to retirees. Too bad there isn't a universal system to take care of that for them.

And who's to blame for their health benefits cost's going through the roof???

USPS - Self insured
Boeing - Self insured

USPS - going insolvent due to not being able to make plan payment.
Boeing - no problems.

Something is wrong with the equation . . .

Boeing employee's aren't on a universal plan brandon, they're on a company plan, same as USPS employee's. I bet you don't think or believe that even with a universal plan, the USPS wouldn't still be in trouble. Hate to tell ya', where there is abuse, switching to a universal plan would still include abuse.


Harder

[Chuckiechan]

Part of the problem is the USPS itself. They are stuck in a 1960 business model. If they can't change retirements, then the slim down, cut delivery days, to cut the pool of future retirees.

The biggest hit the P.O. is taking now is that junk mail is down along with the economy. Junk mail is the post office's bread and butter.

And if you want to do the P.O. a favor, make your biller mail you a bill. Opt out of "e mail billing". I don't do internet bills. I need to feed my shredder!

They need to quit acting like a government agency and hire some brains and streamline into the new century's needs.

[tony_j15]

Ya know, it's a funny thing. Instead of just assuming the PO is some sort of bloated government bureaucracy, I went out and did some reading. Apparently, they've continually come up with new ideas that could add to the revenue stream. And guess what? The corporations got Congress to restrict the PO's business model at each and every turn.

It's amazing what I discover when I read before posting. I'm so happy I just don't open my mouth and say whatever comes out first. That would be embarrassing and make me look silly.

[The Real Bingo]

I like the post office, but delivery six days a week doesn't make much sense considering how much information is received via the internet/e-mail. Trim it to five - or even four - days, and if someone wants a next-day mailer, then charge accordingly.

[brandon184]

Boeing employee's aren't on a universal plan brandon, they're on a company plan, same as USPS employee's.

Is Boeing required to pay many billions annually to pre-fund retiree health benefits for the next 75 years, as the USPS is?

[sharder8]

Is Boeing required to pay many billions annually to pre-fund retiree health benefits for the next 75 years, as the USPS is?

I don't know how far out Boeing is required or paid forward. I do know that they plan on percentages of employees facing catastrophic medical expenses and they plan on employee's being with the company for 25+ years.

I vested with Boeing back in '99. I will have to decide when I want to take my retirement from them. Choices are 62, 65, or 67. My wife, who never worked for Boeing, will be able to draw half of whatever my months pension is.


Harder

[The Real Bingo]

Is Boeing required to pay many billions annually to pre-fund retiree health benefits for the next 75 years, as the USPS is?

If they hire union they do. And ironically they tried to move out of a unionized state for that very reason and received nothing but harsh criticism from the union lackeys and their puppets in congress.

[pickel]

I use the Post Office to pay my bills that I cannot pay locally. I do not have online banking as I do not trust some one else to have my banking info and pay my bills.
I have PayPal and hope that it gets widely accepted in the future.