The Post Office Department officially became the United States Postal Service on July 1, 1971. At that time it became an independent establishment of the executive branch of the government of the United States rather than a part of the cabinet. It began operating more like a corporation, but with the benefit of the official mail monopoly that was established under the Private Express Statutes in 1792. Package delivery and express services do not fall under this law, making it possible for other companies to offer those services.
The United States Postal Service is an independent establishment of the Executive Branch of the Government of the United States and operates in a business-like way. Its mission statement can be found in Section 101(a) of Title 39 of the U.S. Code, also known as the Postal Reorganization Act:
The Postal Service shall have as its basic function the obligation to provide postal services to bind ...view middle of the document...
• 2010 Operating revenue of $67.1 billion in 2010 (declined $1 billion from 2009, primarily due to lower volume);
• Operating expenses for 2010 of approximately $70 billion (excluding a $5.5 billion expense for pre-funding Retiree Health Benefits
• Net loss of $8.5 billion in 2010, as a result of the revenue decline and additional expenses in 2010 associated with RHB pre-funding ($5.5 billion).
• Total mail volume of 170.6 billion pieces, compared to 176.7 billion pieces in 2009, a decline of 3.5 percent.
“Over the last two years, the Postal Service realized more than $9 billion in cost savings, primarily by eliminating about 105,000 full-time equivalent positions — more than any other organization, anywhere,” said Chief Financial Officer Joe Corbett. “We will continue our relentless efforts to innovate and improve efficiency. However, the need for changes to legislation, regulations and labor contracts has never been more obvious.”
Alone among federal agencies, the post office is required to pay about $5.5 billion annually into an account to fund future retiree medical benefits (Pre-funded retiree health benefits requirement). This is unlike any other government institution retirement program.
2010 saw the initial reporting on internal controls under section 404 of the Sarbanes-Oxley Act of 2002 (SOX). Meeting a legislative mandate of compliance by the end of 2010.
Issues are poor management and micro-managing. Promoting from within has a tendency to create poor managers.
Management levels at USPS:
Manager of Post Office Operations