Banking on the Postal Service?

Imagine an economic collapse in which millions of people lose half of their life savings and their trust in the country’s largest financial institutions is severely shaken. To help restore trust in the financial sector, the government creates a savings system operated by its postal administration. Sound unrealistic? Maybe so, until you remember that the U.S. Post Office Department offered a government-backed savings system to Americans for more than half the twentieth century.

 

The OIG Wants to Know How You Feel about Sick Leave

Career employees earn 4 hours of sick leave for a full pay period (80 hours), or at a rate of 5 percent. Some career employees are currently taking sick leave at approximately the same rate, liquidating their leave bank. The Postal Service’s sick leave absence rate (absenteeism) was 4.3 percent in 2008. This seems high compared to the 1.1 percent rate the Bureau of Labor Statistics reports for employees in the private sector and 1.7 percent rate for employees in the federal sector. So why was the Postal Service’s rate higher?

 

Leveraging Postal Service Purchasing Power to Generate Revenue

The Postal Service spends approximately $13 billion each year with contractors, most of whom are also customers of the Postal Service. Meanwhile, the Postal Service has experienced the most significant mail decline in its history. Mail volume fell by 9.5 billion pieces in fiscal year (FY) 2008. The economic stress of current times is a major factor in this decline, and additional Postal Service revenue is lost when major businesses merge and combine their customer mail base.

 

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  • 1 day 14 hours ago
    Ricky, I'm having the same issue. I mailed out about 20 or more vendor bill payments on April 10th, all are missing and have not cleared the bank. The post office said they are having major...
  • 1 day 14 hours ago
    I mailed about 20 to 30 vendor bill payments (checks) out on April 10, 2017. None of them have processed the bank, a second vendor had called today looking for a very important check we mailed out...

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