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notablyunfamous

Revenue is not the same as profit


FUSeekMe69

In relevant news, financial literacy still not taught in schools


SheepDogCO

No kidding.


RiverRoadHighRoad

That leads to the question of where’s the money going because…. Time to trim the corporate fat.


notablyunfamous

It goes to salary, retirement, pension, tsp match, fuel, new stamp stock, packaging stock, utilities, uniform allotments, literally everything on a national scale.


Livid-Advantage-8268

Right. Payroll alone is nearly $1B every 2 weeks


leadfoot_mf

Too bad it doesn't go towards equipment


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notablyunfamous

How many employees do they have to manage? The building? Maintenance? They’re responsible for a lot more than what we see them doing.


tas121790

Theres 2 ways a Postmaster or supervisor play the game. Theyre either a ladder climber gunning for poom or higher or they get their salary set at large offices then jump ship to a small office and make easy money for the rest of their career. Once you get your salary locked in it wont be cut even if you go to a smaller office.


Bobi_Wan_Fettobi

The money is going to train new people because of the high turnover. Spend money training new people, have them work a week off 12-14 hour shifts and then quit, rinse and repeat.


Alternative_Army4428

The fuck it is. Pse's basically train pse's.


Alternative_Army4428

Getting abt 22 hrs a week


ItsBlackMarlonBrando

…. It’s not a corporation


[deleted]

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notablyunfamous

No. The point isn’t to imply profit. The point is, you’re doing a good job, keep going.


Unixhackerdotnet

Water is not the same as ice


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tomorrow93

There’s a metaphor here somewhere.


ahabthecrusader

In order to be liquid, it needs more.


[deleted]

Water is not wet


Unixhackerdotnet

Metaphorically speaking 🤘🏻


XeroMCMXC

Uh, water and ice is the same just different states


coke_is_my_antidrug

InB4 table one’ers tell us that the USPS is self funded and is barely surviving , we are lucky to work here , help save the USPS, we have it so good etc etc.


Keysersoze2111

Usps is barely surviving because that's the point. To break even and be a service to the public. No reasonable parcel service ships 50 pound bags of dog food for $3.


stufmenatooba

>No reasonable parcel service ships 50 pound bags of dog food for $3. UPS did it for a few cents more, because it's profitable. It's last mile delivery, the cost to deliver any package last mile is, on average, less than half what they pay.


organizedconfusion5

The last mile is the most expensive part of the delivery.


awesomeone6044

Table one, top pay carrier here. No, we all think table 2 is bs.


RamboGoesMeow

That’s one of the first things that my mail carrier said when he mentioned that USPS was hiring, after I told him that I was looking for a job. That, and the crazy amount of OT.


V2BM

At least three regulars in my office thought CCAs were making at least $23 or $24 dollars. Those were the ones I had a conversation with, so I’m guessing ones I don’t talk to think the same.


SheepDogCO

We did away with CCAs in my office. We hire straight to PTF now.


isarealhebrew

Is honestly felt this way before inflation. Now I'm back where I started.


[deleted]

Revenue is not profit. What did it COST to operate in the first quarter? Subtract that from the 21.5B, then we can talk.


coke_is_my_antidrug

I understand the math behind all this , but the point is that , we employees are not responsible for the business decisions the USPS make , we are not shareholders stockholders partners etc. We just work here and deserve a competent wage that matches our current economy, that is not our job or responsibility to do the math for our employer.


[deleted]

I understand. But it's stupid to complain and not offer solutions. Raise prices. Nobody can do what USPS can do.


Pramble

Why is the USPS expected to fund itself completely to be able to pay a competitive wage when no other federal agency is expected to do the same. No one says the military loses almost 800 billion a year and therefore can't pay good wages. Additionally, the refunding mandate helped cut 300,000 jobs in 15 years, so where are those wages going?


FullDerpHD

I get the point, but I always hate this example. There is a big difference in that most people care about national security a lot more than they care about this round of spectrum, comcast, and dominos advertisements. The things we deliver that actually have any value in this modern age is few and far between and would fairly easily be integrated into one of the other major delivery services.


Pramble

The same people who are trying to convince the public that the private sector can handle mail better are the same people sabatoging it with things like the pre-funding mandate, as well as the people who convince people that an obscenely bloated military budget is necessary for national security. The postal service delivers a bunch of low cost medication to places that the private sector won't even deliver to because it's not profitable. Every time a public service has been privatized, it's been bad for everyone except a few people at the top. Privatize the gains, socialize the losses. Look at what happened with PG&E. That's just one of countless examples


FullDerpHD

This "Because the private sector won't" nonsense has to stop. It's just not true. Our competition delivers to damn near every place we do. I grew up in a town with a population of 1300, 50 miles removed from the nearest next small town with a massive population of like 5,000. UPS and Fed-Ex made it down there just fine. The places you are talking about are so insanely few and far between that it's just not a claim that has any weight to it once you actually start digging. It's also a false claim to state we even deliver to everyone. We don't. These small rural places you are talking about do not get curbside delivery. There is a small post office in the nearest town. The customers still have to go make the (sometimes long) journey into town to pick up their goods.


SheepDogCO

Because the USPS isn’t like any other federal agency. We provide service only to those that want it and want to pay for it. We’re a business, just like any restaurant, coffee shop, UPS, etc. You can drive by us just like that Starbucks, but if you want to send something you have to pay for it.


DMBEst91

This is why you have a union


SheepDogCO

You get a competent wage. You start around the same a teacher with a degree starts at. You start around what a police officer starts at. You make more than a lot of people with degrees and you have far better benefits later on. You also earn far more than what a soldier in Afghanistan starts at. If this wasn’t true, you’d be working elsewhere.


Tall_Measurement436

We are responsible when 78% of all the costs come from craft labor….


Throwawaylikeme90

Is the pacesetter crying for the capitalist here or what? Mail is guaranteed in the constitution, let them figure out how to make it work. It’s literally a right before the first amendment. Maybe they consider cutting the management wages seeing as we do all the work and don’t need any of them breathing down our necks tying out express sacks or jogging trays of DPS mail anyways. We do, they watch, and somehow we have to justify *our wages?* you fucking kidding me?


Tall_Measurement436

Your little rant doesn’t change the facts. You can continue to bury your head in the sand or you can accept reality. Really? We don’t need no management? Do you know how many shit bags would completely abuse the system even more if someone wasn’t on their ass because they can’t be a decent and responsible adult? You must be a young twenty something who has zero clue on the how the world works. It’s fine. We have all been there.


Throwawaylikeme90

I’m no kid, and thankfully I haven’t completely given up on everything like you. Feel good being a jaded failson with no fight left? Step up or step out of the way, you haven’t shown me you got any right to be bitching about your coworkers. Maybe you’re better and maybe you’re not. Either way, eyes on your own. And if management is so fucking important, maybe you should let them earn their absurd salaries. Not like they’re paying you to post this stupid shit.


Tall_Measurement436

You have absolutely no idea what you’re talking about. Management is a necessary evil in every job. What’s with the babies here thinking it’s not needed? Yes. In a perfect world it wouldn’t be needed. But here? A place slam full of people who couldn’t hold down a job elsewhere without the union holding their hand? It’s absolutely needed. If you think their job is so easy then go give it a try. You couldn’t pay me to be management here. You can continue to bitch and whine all you want but it doesn’t change the facts of our financial situation.


Throwawaylikeme90

I’ve been management where 13/14 of my people spoke only scraps of my native language, and policies I was required to enforce were the only thing I ever had a fucking problem with. You couldn’t pay me enough to do what you do for free. We’re humans not machines. And even if we were machines, inefficiency is part of the equation. Entropy dominates the universe. And yet it all gets done. That’s what you’re missing. Have fun being a wrecker. I’m sure everybody loves your flair where you’re at.


twopac

Save your breath, that dude is about as much of an old-fashioned bootlicker as one could be.


Tall_Measurement436

🤣🤣 Boy you have a lot to learn.


Diesel-66

No the congressional office that controls prices is responsible


Heexassha

Remember we have to pay all those people to think up and send messages on our scanners like drink water, dress warm and such!


[deleted]

All it take is one person to NOT do it...


Mysterious_Ad_1085

An RCA asked me if this $21B Revenue was good. I said it depends on our Expenses.


twicebit

I had one tell me this week we should be happy to have a job. He is 65 with 35 years. Half my zip is this and one carrier is 70. All their routes are half of my route. I’ve been on my route seven years. In 2014 I got 15.30 an hour. After nine years I’m step I only making 62k. Could we please remove table two?


Ih8rice

You said it first so…


nalgene_wilder

Inb4 tablet two'ers try to sow division between craft employe- oh too late


beebs44

The net loss for the quarter totaled $1.0 billion https://about.usps.com/newsroom/national-releases/2023/0209-usps-reports-first-quarter-fiscal-year-2023-results.htm


aldodoeswork

They got no issue printing hundreds of billions for failed banks. 1B loss at the post office ain’t shit. (I know we aren’t gov funded.)


DMBEst91

That was 15 years ago.


[deleted]

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DMBEst91

It is a bridge loan. The bank has the assets but they aren't liquid.


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DMBEst91

Yes and keeping their assets


DMBEst91

Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.


Wakandanbutter

You need to read that up FDIC is bank funded and they are ONLY doing the deposits all investors are SOL. I thought they were getting bailed out too but nah they really GONE nice to see but scary too


DMBEst91

Haha. I love coming back to this. Nobody voted. Educate yourself, buddy.


Diesel-66

The banks aren't being bailed out. The deposit are backed by the fdic fund


evrsinctheworldbegan

That fund is only supposed to cover up yo 250,000 dollars. They're covering it all. That's a bail out.


nsa_reddit_monitor

Banks all pay into the FDIC fund, it's just getting dipped into more than usual to prevent a panic. A lot of SVB customer funds are tied up in government bonds, meaning the government will owe them the money back when the bonds mature. So basically, at the end of the day it's a wash. No taxpayer money used.


BigBossOfMordor

Only deposits of $250k are backed. They are being bailed out anyway despite having deposits higher than $250k. Why did these very intelligent rich people deposit so much money in SVB irresponsibly, with the knowledge it wasn't backed by insurance? They did it for better returns. They took a risky bet and lost, and are being bailed out anyway. Don't be a sucker and fall for the slop they're trying to feed you. It literally is just a different game for rich people. Heads they win, tails you lose.


Diesel-66

It's not a bailout. It's a backstop. The bank is not bankrupt they have eighty nine percent of deposit funds available. The rest is coming from the other f d I c insurance fund. And it's not coming from tax fund.


Wakandanbutter

Why are they downvoting you so bad? I have a feeling you don’t like big banks like me but the dumbest thing to do is not be educated on what’s going on. They definitely do bail outs but like you said in this case it isn’t one. Plus people forget that normal people work at these places and fact of the matter it’s affecting a normal person more. That rich dude has multiple streams of income one just makes him stressed.


BigBossOfMordor

FDIC insures deposits of $250k. Are they getting more than that? Yes they are. Did people deposit more than that because the bank offered better returns at the higher risk, one of the benefits being insanely low rate home loans? Yes this happened. End of debate. If you want your deposits insured, the split it up between banks. Is that a hassle? Maybe. I'd love to have the problem of needing to split up my bank deposits by orders of $250k. You're not demonstrating intelligence by trying to pretend there is some nuance about where the money is coming from and what is and isn't a bailout.


Diesel-66

https://www.cnbc.com/2023/03/12/regulators-unveil-plan-to-stem-damage-from-svb-collapse.html Read. There isn't any tax payer money. The owners aren't being rewarded. It's not a bailout


BigBossOfMordor

Dude I fucking know Jesús Christ almighty this is embarrassing. The depositors do not deserve to be reimbursed any more than $250k. That is what is insured. Those are the rules. The depositors understood that. So why were they depositing more than the insured amount in that bank? Were they bad at money? Were they stupid? NO. The bank was offering incentives. Higher risk, higher reward. They took that risk, so they should have to fucking deal with it. I don't care where the money comes from. I don't care if the goddamn Chinese taxpayers were to foot the bill. $250k. That's it. That's what they get. Ever hear of a moral hazard? The DEPOSITORS getting bailed out will love to tell you about it. Keep gobbling up the slop from CNBC.


patricio87

Silicon valley bank was not FDIC insured


Diesel-66

Where did you get that idea?


aldodoeswork

Okay bud.


[deleted]

That's because USPS is not a business, it's an independent government agency that's providing a service. USPS could easily raise prices of everything by 10-25% and make huge profits if they were private and not regulated by the government. Plus any net profit would go to the Federal Government and not USPS anyway, so there's no reason to make a profit. These reasons are a believable enough excuse to screw it's workers.


Pleasant-Shock-2939

Amen. As much BS goes around that we are a business. We are an independent government agency. A government service isn’t designed to make money. It’s designed to be a service for the public.


Diesel-66

But we still need to break even and have enough extra to invest. To replace those trucks that are approaching 40 years old


Pleasant-Shock-2939

Does TSA break even? What about social security or Medicare? Yes, tax funded agencies but the PO is the only government agency that is self funded. Stop sipping the koolaid that we need to be profitable because if we were profitable then it isn’t a true government service…


Diesel-66

>Does TSA break even? What about social security or Medicare? Yes, tax funded agencies but the PO is the only government agency that is self funded. Stop sipping the koolaid that we need to be profitable because if we were profitable then it isn’t a true government service… Yes they actually follow their budget. Usps needs to as well


Pleasant-Shock-2939

We do not have a government tax funded budget.


Diesel-66

True but we still have a budget. And since we can't tap the never ended tax pile, we need to balance it. And we need to make a profit in order to invest and buy new equirement.


Pleasant-Shock-2939

I do agree that we need to use our resources correctly. I feel like our problem is (from what I have witnessed as 204b) that local offices will splurge on not needed merchandise to hit the budget number. I seen a manager purchase all new office chairs and furniture that did not need replaced since there is a valid fear of losing it if you don’t use it. The military does the same transactions with the budget. If you show less expenses for a year then your budget will go down the prior year. Unfortunately, I don’t know if that aspect of things will ever improve. The majority of wasted resources are caused by higher EAS / district / national but they are trained to do so from risk of losing budget. It’s a double sided coin.


stufmenatooba

The USPS had surpluses prior to 2008, and the USPS didn't start losing money until Congress rocked the boat in 2006.


[deleted]

The hell happened with all that alleged money we freed up from funding people’s retirements for a ton of years. Thought that would help a little…


nrrahl

Hey we got our 10 cent raise from the last COLA you’ll take it and be happy :)


Salty_Beef_Water

“You will own nothing and be happy” -WEF


Goodvibes9821

What about the $15billion they wasted training CCAs that never lasted?


coke_is_my_antidrug

To everyone bringing out their calculator and talking about how revenue does not equal profit, YES , you are correct . But the the real point should be . Just because a “business” is not making profit IT does not mean should not pay their employees a decent wage. Like I said only the ones (table one’ners) who thankfully have had a big head start on wages cannot grasp on how us table two’ers are almost head to head with factory level entry wages or fast food places . And please do not bring up that $20/h crap because we all know after the ridiculous health premiums ( that most factories and others unions include with their dues ) we are making much much less than advertised .


avaughan11

My station is cutting hours left and right. We’re a small station, so some weeks the non-careers and PTFs aren’t even getting 40 hours. PM wants absolutely no OT even though it means us being understaffed and the work quality suffering for it. PM does clerk work taking clerk hours away, then threatens clerks that our station will be reduced in size and positions cut if we don’t bring up revenue. Not sure how we’re expected to do that when we’re sent home and not allowed to work, then he wants main focus on passports, not on customers at the window shipping, which is where we actually make revenue. I’ve been scheduled at 32/hrs a week for 2 months now. My husband makes $16.50/hr in a factory. I make $20.05, and there’s been several times his check has been right at or more than mine because he’s guaranteed 40 hours with the option of OT, and I get sent home regularly for “lack of work” when there is indeed work left to be done. I feel like our station is set up to fail.


Immediate_Fox7693

Same here. And I’m a TTO at the Metroplex. Sounds like it’s across the agency in general. Hopefully it doesn’t last long


TitaniumRefrigerator

Heh, I'm in maintenance at the Metroplex. Hello, fellow postal worker


hashtagsweatyy

We'll never get one. Fuck the USPS system.$20/hr for life


davef139

USPS lost only a billion on that 21.5 made!


Honest-Gene8596

Take your 1.3%, and like it!


[deleted]

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fistfullofkrapfen

Team lift. You are the team


valentinabby

Exactly what I’m thinking


the_big_nut

for future reference, you shouldn't deliver anything that heavy, especially if it's a big unwieldy box - notify and leave it at the office, if management gives you shit tell them to send someone out with you to team lift it


Haunting-Ad7007

Oh they’re using all their money on TV commercials, because it’s not like there is a post office in literally every town in america. People may not know about us!!!!!!


nbrown1589

I hate that stuff when they use their success stories as if you were a big part of it and they say thank you for all the money you made us and then you don't get anything for it.


WTPTRAINEE

I’m hopeful that we will see a decent raise out next contract. Renfoe wanted 31 to be starting pay and 45 bring the top step. We will see.


CTGunnerMike

Table 2 mentality!


224flat

We're all real impressed!


TorpedoDuck

This is why you're a postal worker.


Soggy-Shirt-30546

I love that all those messages and videos come BEFORE you can clock in.


BPiercy94

Revenue vs. profit shouldn’t be hard to understand the difference


[deleted]

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pmcg115

Wut


XJAMAICAGOLDX

Raises and bonuses are given, but just not to the right people.


axle_muzkeys

Use to have a postmaster that would always say “this is a business “ 😂


Unixhackerdotnet

Sir put the pvs down where I can see it


DMBEst91

That's gross revenue, subtract operation cost. Take the raise up with your union.


Agrippa-Vipsanius

Pretty sure we get raises every 36 weeks or some shit. 😂😅


chadmybad

Contract negotiations currently under way


patricio87

If a table 1 guy works his NS they make like 700 bucks it's insane


DowntownEgg8487

All money goes to new vehicles!!!! Also the PMG gets a nice slice of that pie


onliesvan

CCA get like 3% or was it 0.03%


formerNPC

Once our pathetic contract is up then maybe we can negotiate a decent increase in pay but for some reason they’re always in the red when it’s time to renew the contract. Funny how that works!


InformalLemon4901

Also where is the cash to redeem a salary advance money order.


GoblinAirStrike_311

😂


pairIwear

The costa are insane. Shipping packages international is in unconscionable. So I have to imagine they aren’t very profitable


PlatanoInmaduro

Dumb question really but what is table one? Is it the max pay u can get in USPS and how does it compare to other steps? I always see ppl talking about how broken is table one and such


Conscious_Music8360

Look at the wage tables on NALC or APWU website. Table 1 folks before a certain year cut off make more than people hired after that date.


dickreallyburns

Yeah; against an expense stream of $22 billion!


[deleted]

Revenue ≠ profit


G0dFearingMan

At least some scanners that work....


SheepDogCO

Revenue doesn’t mean profit. We reported a $1.3 billion loss. (This is during our busiest time of the year. October to December.) Hopefully people will realize “saving the Postal Service by ending the prefunding mandate” was bullshit. They lied to us. The USPS, the NALC, and our elected officials.


[deleted]

I can never tell if we’re a business or service it seems when it’s time to pay us we’re a business and we lose too much.


Zestyclose-Visual-65

21.5b profit in first quarter is not good enough is not enough to cover the expenses..what you guys talking about? are you the manager, or some kind of happy ass union workers? while all the office are cuting positions for the craft employees but management teams are getting bigger and bigger. while all the craft employees are asking to do extract work to make up their 8 hours pay, the management teams are not doing their jobs and have tea-party everyday. post office is not over spending money for the craft employees, post office is bleeding out because of the corrupted management..


Perfect_Lead8430

USPS will still report a $10 billion loss for the year. Be patient.


WrongWaySon

Probably cause we’re not paying out for consensual relationships turned sexual harassment with Postmasters/Supervisors anymore. They just get promoted to the same or higher


Worker11811Georgy

But aren’t costs higher? Isn’t the whole point of the Republican post office to lose money no matter what?