Amazon locked the USPS in a contract that caused them to lose a ton of money on shipping. Then after the USPS started to crumble, Amazon created their own delivery division and ditched the USPS.
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Amazon locked the USPS in a contract that caused them to lose a ton of money on shipping. Then after the USPS started to crumble, Amazon created their own delivery division and ditched the USPS.
I thought it was the Retiree Health Benefits Prefunding: https://about.usps.com/who-we-are/financials/annual-reports/fy2010/ar2010_4_002.htm
This is the truth, they have set aside 75 years worth of pension funding.
Nonsense. They were fucking the tax-payers so congress stepped in and forced the prefunding in 2006. But that didn't work either since they just decided not to do it even though it is required by law some years because they had no fucking money.
https://reason.org/commentary/usps-has-120-billion-in-pension-and-other-post-employment-unfunded-liabilities/
"Unfortunately, the USPS retiree health care reform coincided with significant declines in revenues. From 2007 through the 2019 fiscal year, the USPS lost $77 billion and hasn’t contributed to its retiree health care fund since 2012. “USPS has missed $48.2 billion in required payments for postal retiree health and pension benefits through fiscal year 2018,” the Government Accountability Office reported in March."
The USPS is a shit-show, largely because of the employees benefits, and no accountability for employee abuses of benefits, fucking around with the over-time so the can rape the taxpayers, sickouts, etc. Absolute fuckery.