Bigger than USPS

UPSJUNKIE

Member
Maybe I'm looking at this wrong, but it looks to me like UPS is now bigger than the Post Office. In the 4th Quarter of 2019, UPS revenues were $20.568 billion. Revenues at the Post Office were $19.4 billion for what they call 1st Quarter 2020. I've been with UPS for 32 years. First time I've seen this happen.
 
Maybe I'm looking at this wrong, but it looks to me like UPS is now bigger than the Post Office. In the 4th Quarter of 2019, UPS revenues were $20.568 billion. Revenues at the Post Office were $19.4 billion for what they call 1st Quarter 2020. I've been with UPS for 32 years. First time I've seen this happen.
Bit the post office doesn't pay taxes and other fees like Brown does.
 
The USPS doesn't even pay license fees on its vehicles or road tax on its fuel. UPS drivers are paid way more per hour. USPS doesn't pay dividends to shareholders and in fact lost about $1 billion in the quarter.
You got to read a little deeper into that report
The post office has to have to pay pension obligations years in advance.
 

UPSJUNKIE

Member
You got to read a little deeper into that report
The post office has to have to pay pension obligations years in advance.
My understanding is not "years in advance" but as the work is done...just like the private sector. Prior to about 10 years ago, the USPS treated pensions like the federal government does...pay them out of current revenues to current retirees. The private sector has to pay into a retirement plan each year as the work is performed and retirement entitlement is accrued. The USPS bitches about that, but since they are an off-book agency, that is exactly how they should be paying their retirement obligations--as the debts are incurred.
 

UPSJUNKIE

Member
My understanding is not "years in advance" but as the work is done...just like the private sector. Prior to about 10 years ago, the USPS treated pensions like the federal government does...pay them out of current revenues to current retirees. The private sector has to pay into a retirement plan each year as the work is performed and retirement entitlement is accrued. The USPS bitches about that, but since they are an off-book agency, that is exactly how they should be paying their retirement obligations--as the debts are incurred.
Besides, retirement expenses don't effect revenues.
 
My understanding is not "years in advance" but as the work is done...just like the private sector. Prior to about 10 years ago, the USPS treated pensions like the federal government does...pay them out of current revenues to current retirees. The private sector has to pay into a retirement plan each year as the work is performed and retirement entitlement is accrued. The USPS bitches about that, but since they are an off-book agency, that is exactly how they should be paying their retirement obligations--as the debts are incurred.
USPS Defaults on Billions in Mandatory Payments, Despite Scheduled Relief
 

Staydryitsraining

Well-Known Member
The USPS doesn't even pay license fees on its vehicles or road tax on its fuel. UPS drivers are paid way more per hour. USPS doesn't pay dividends to shareholders and in fact lost about $1 billion in the quarter.
I dont think we are paid way more an hour. I have met and talked to alot of USPS workers who do or know people there who make over 45 an hour.
 

Yeet

“Cell-phone Yeet”
Well...amazon drivers also claim they make as much as me, doesn’t mean it’s true.
They think that because websites like indeed or Glassdoor say the average feeder driver makes $50K a year. I don’t know where they get their numbers. If I worked 6 months out of the year, maybe.
 

Whither

Scofflaw
My understanding is not "years in advance" but as the work is done...just like the private sector. Prior to about 10 years ago, the USPS treated pensions like the federal government does...pay them out of current revenues to current retirees. The private sector has to pay into a retirement plan each year as the work is performed and retirement entitlement is accrued. The USPS bitches about that, but since they are an off-book agency, that is exactly how they should be paying their retirement obligations--as the debts are incurred.

Still, funny that you never hear about pension-funding problems for Senators and Congress people ...
 

Redtag

Part on order, ok to drive

Mack37

Well-Known Member
USPS has more vehicles, employees, locations etc. but it kind of goes back and forth on who makes more money. Of course, USPS isn’t supposed to make a profit so I guess it doesn’t matter.

Everyone making a big deal about USPS losing money is a recent phenomenon. Making money isn’t really the point.
 
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