Postal Rates Go Up, Labor Talks Collapse
The US Postal Service will raise about $888 million in additional revenue this year following a one-cent increase in the first-class letter rate that goes into effect today. It’s the first rise in postal rates in more than two years.…
The US Postal Service will raise about $888 million in additional revenue this year following a one-cent increase in the first-class letter rate that goes into effect today. It’s the first rise in postal rates in more than two years.
The not-so-good news for the Postal Service is that talks have broken down in labor negotiations with two of its unions. The unions’ contracts expired in November 2011. Federal law prohibits the unions from striking, and the next step in the negotiation process could call in a mediator.
Eventually an arbitrator would deliver a decision. The arbitrator cannot take into account the financial condition of the Postal Service when making that decision.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
