Time to Privatize.
Canada Post has the same amount of employees as Canada Has Military.
Steve you can Fuk the Vets injured in service to their country, families of Soldiers Killed in service.
This should be a non issue.
It surely will not be a burden on your conscience.
John Ivison: Canada Post poised to lay an egg next Easter after losing $58M this quarter | National Post
Summer has set in on the news business with its usual severity. The Pamela Wallin affair provided brief respite but late in the week, torpor had returned.
In search of some light relief, I read Canada Post’s latest quarterly, which provided a eureka moment for me, if not for the Crown corporation’s 68,000 employees, pensioners and customers.
“Based on current financial forecasts, the Canada Post segment believes it has sufficient liquidity to support its operations until at least the end of the first quarter of 2014,” says the section on liquidity and capital resources.
Say what? One of Canada’s largest employers, delivering 10 million pieces of mail, parcels and messages to more than 15 million addresses in urban, rural and remote locations across the country, could run out of cash by Easter?
Apparently so. The decline in the corporation’s core business has been well-documented. The group of companies that also includes Purolator, the parcels business, recorded an operating loss of $58-million in the first quarter of the year, primarily because of mail volume erosion.
Total volumes were down by 136 million and more pieces in the first three months of the year because people now pay bills online.
The Conference Board recently predicted that Canada Post will make an operating loss of $1-billion by 2020. But the prospects of self-sustainability are much, much more gloomy than just a gradual slide into operational obsolescence.
The corporation has a massive pension commitment that it simply cannot afford to service. The quarterly report says the pension plan’s obligations are $5.9-billion more than its resources. Canada Post has to make up the shortfall but has not been able to afford enough contributions to satisfy its obligations under the existing legislation.
Canada Post has the same amount of employees as Canada Has Military.
Steve you can Fuk the Vets injured in service to their country, families of Soldiers Killed in service.
This should be a non issue.
It surely will not be a burden on your conscience.
John Ivison: Canada Post poised to lay an egg next Easter after losing $58M this quarter | National Post
Summer has set in on the news business with its usual severity. The Pamela Wallin affair provided brief respite but late in the week, torpor had returned.
In search of some light relief, I read Canada Post’s latest quarterly, which provided a eureka moment for me, if not for the Crown corporation’s 68,000 employees, pensioners and customers.
“Based on current financial forecasts, the Canada Post segment believes it has sufficient liquidity to support its operations until at least the end of the first quarter of 2014,” says the section on liquidity and capital resources.
Say what? One of Canada’s largest employers, delivering 10 million pieces of mail, parcels and messages to more than 15 million addresses in urban, rural and remote locations across the country, could run out of cash by Easter?
Apparently so. The decline in the corporation’s core business has been well-documented. The group of companies that also includes Purolator, the parcels business, recorded an operating loss of $58-million in the first quarter of the year, primarily because of mail volume erosion.
Total volumes were down by 136 million and more pieces in the first three months of the year because people now pay bills online.
The Conference Board recently predicted that Canada Post will make an operating loss of $1-billion by 2020. But the prospects of self-sustainability are much, much more gloomy than just a gradual slide into operational obsolescence.
The corporation has a massive pension commitment that it simply cannot afford to service. The quarterly report says the pension plan’s obligations are $5.9-billion more than its resources. Canada Post has to make up the shortfall but has not been able to afford enough contributions to satisfy its obligations under the existing legislation.
